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PEGAS, the pan-European gas trading platform operated by the French Powernext SA, saw a total volume of 86.1 TWh traded in July 2016 which represents a growth of 20 per cent compared to the previous year (71.6 TWh).
Spot trading volumes in July reached 40.3 TWh, which amounts to an increase of 55 per cent compared to the previous year (26.0 TWh). On the Dutch market area TTF, 12.5 TWh were traded, 69 per cent more than in July 2015 (7.4 TWh). The German NCG and GASPOOL hubs together registered the biggest share on PEGAS Spot with a total of
- 02/08/2016
The ability for traders to see the full depth of the order book on an exchange not only proffers greater insight and transparency on the supply and demand of individual stocks, it allows them to enhance their trading strategies, not to mention providing the ability to improve liquidity management.
Ordinarily, people think of Level 2 price data as the best way to ascertain the depth of the market. Level 1 simply shows the live best bid and offer on a company’s shares.
But it is a misnomer to suggest that anything over and above the current displayed BBO is Level
- 02/08/2016
Compression provider LMRKTS has formed a strategic partnership with Tradition, a wholesale market broker in over-the-counter financial and commodity related products, which will initially handle execution and compression processing unique to FX Forwards.
A limited release is planned for August and the full commercial release later this year. Additional asset classes will be added over time.
LMRKTS’ leadership team has been discreetly working on this FX solution with a select number of banks for over a year. The company’s focus has been on refining its technology and product to ensure it is in tune with the market – to offer a
- 02/08/2016
The Depository Trust & Clearing Corporation (DTCC) has appointed Lisa A Pollina (pictured), former Vice Chairman for RBC Capital Markets, a division of the Royal Bank of Canada, to its Board of Directors.
Pollina has joined the Board’s Audit Committee, Finance/Capital Committee & Risk Committee.
The Board provides direction and oversight for DTCC in the interests of its diverse, global stakeholders, while promoting safety and stability across the financial markets. It is composed of 20 directors: 12 are representatives of clearing agency participants, four are non-participant directors, two are designated by DTCC's Series A and Series B preferred shareholders,
- 02/08/2016
- 02/08/2016
Bats Global Markets is to launch the Bats Auction Mechanism (BAM), new functionality that provides price improvement opportunities for orders sent to its EDGX Options Exchange.
Bats plans to launch BAM in November, pending SEC approval. The company’s two US options exchanges, EDGX and BZX, set a combined record with market share of 11.7 per cent in June while remaining the market leader in single-leg equity options trades with 19 per cent market share.
BAM is an options auction process that provides Members with an opportunity for price improvement for the Member’s client orders. The BAM functionality alerts all Members
- 02/08/2016
- 02/08/2016
July average daily volume (ADV) for options contracts traded on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), and futures contracts traded on CBOE Futures Exchange (CFE) was 4.7 million contracts, a decrease of 2 per cent from July 2015 and 9 per cent from June 2016.
Equity options traded at CBOE had an ADV of 1.4 million contracts in July, an increase of 13 per cent from June 2016, while S&P 500 Index (SPX) options had an ADV of 1.1 million contracts in July, an increase of 7 per cent from July 2015, and SPX options in
- 02/08/2016
The London office of global law firm K&L Gates has added Barry Cosgrave as a partner in the firm’s global finance practice. Cosgrave (pictured), who joins K&L Gates from Shearman & Sterling LLP, is the second new partner addition to the firm’s London finance practice in just a month.
Cosgrave’s experience includes distressed debt and restructuring, debt capital markets, structured finance, and Islamic finance. He has significant Middle East experience, having also practiced in Dubai for a number of years.
“With a focus on distressed debt and the Middle East, my ambitions and experience are very much in line with the strategic direction of K&L
- 01/08/2016
Edison Partners has led a financing of New York City-based Predata, a provider of predictive event intelligence used by hedge funds, corporate security officers, and government agencies to forecast geopolitical risk throughout the world.
Chicago Ventures and Conversion Capital also participated in the round. The investment will fuel continued product innovation and go-to-market expansion.
Using open-source intelligence (OSINT), the Predata platform enables organisations to collect and visualise tens of thousands of digital conversations from a range of social and collaborative media channels on a daily basis. Regressing this data against historical datasets allows Predata to quantify the probabilistic nature of
- 01/08/2016
- 01/08/2016
Agile Fund Solutions has added hedge fund industry specialists Greg Gleeson and Andrea Schweikert to the firm’s Southern California team.
"Southern California presents a major opportunity for Agile. Greg is a veteran player in the SoCal market and has overseen hedge funds and family offices across all size scales,” says Vincent Calcagno, CEO. "Coupled with Andi's experience serving hedge funds, private equity and venture capital funds while at Rothstein Kass it gives Agile the ability to deliver on our mission of enabling managers to scale their business by having them focus on the portfolio while we focus on everything else."
"I'm thrilled
- 01/08/2016
In July 2016, the monthly volume on EEX’s power derivatives market amounted to 244.0 terawatt hours (TWh), increasing the volume traded in July 2015 (172.9 TWh) by 41 per cent.
EEX also recorded the highest volume in power options for Spain since the launch of this product at 0.9 TWh, while volumes in almost all other markets increased significantly compared to the previous year. The markets for Germany (173.4 TWh, +48 per cent) as well as France (22.4 TWh, +12 per cent) were the main drivers for this growth.
The July volumes comprised 114.9 TWh registered at EEX for clearing.
- 01/08/2016
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