Solutions
Cboe Futures Exchange (CFE) plans to offer trading in bitcoin futures beginning at 5:00 pm CT on Sunday, 10 December, 2017, at the start of Global Trading Hours. Monday, 11 December, will be the first full day of trading, and trading will be free through December.
Cboe’s bitcoin futures will trade on CFE under the ticker symbol ‘XBT.’ XBTSM futures are cash-settled contracts based on Gemini’s auction price for bitcoin, denominated in US dollars. Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin. XBT futures
What’s the situation? Asset managers today are faced with having to deal with a plethora of liquidity regulations. Most of the liquidity-related concerns in respect of Comprehensive Capital Analysis Review (CCAR) prescribed by the Federal Reserve Board, Solvency II, MiFID II – due to go live on 3rd January 2018 – and liquidity coverage ratios under Basel III are essentially just rules from the regulator to adhere to.
This has required financial institutions to become more prescriptive in terms of improving their trade compliance frameworks and enhancing pre-trade analytics. But the goalposts are changing.
Regulations such as the Alternative Investment
The Cboe Futures Exchange (CFE) has filed a product certification with the Commodity Futures Trading Commission (CFTC) to offer bitcoin futures trading. The product certification is subject to regulatory review.
The impending launch date of Cboe bitcoin futures, which will trade on CFE under the ticker symbol ‘XBT,’ will be announced shortly. XBTSM futures were made available for participant testing on November 13, 2017.
Existing CFE Trading Privilege Holders (TPHs) can trade XBT futures via their existing connections. XBT futures market data will be made available over Cboe’s market data feeds.
Trading volume in options on the Cboe Volatility Index (VIX) reached a new all-time high on Friday, 1 December.
In VIX options at Cboe Options Exchange, a reported 3.1 million contracts traded on Friday, far surpassing the previous single-day record of 2.6 million contracts on Monday, September 25, 2017.
Five of the ten busiest single days ever for trading VIX options have occurred in 2017.
Culum Capital, a Singapore-based receivables and supply chain financing provider, has launched a new investor platform, which is aimed at accredited and institutional investors around the globe, and provides invoice financing to SMEs as an alternative to traditional financing sources.
The platform’s sophisticated user interface brings ease and convenience for investors, with a double layer of security authentication. The platform uses its proprietary credit scoring and on-going risk measurement to identify optimum investment opportunities and provide transparency. The transactions carry a short tenor of maximum 120 days, with the average transaction at 70 days. Annualised gross returns are between 10
The Chicago Mercantile Exchange Inc (CME) and the CBOE Futures Exchange (CFE) have self-certified new contracts for bitcoin futures products, and the Cantor Exchange (Cantor) has self-certified a new contract for bitcoin binary options.
“Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past,” says CFTC Chairman J Christopher Giancarlo (pictured). “As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, and CME, CFE and Cantor have agreed to significant enhancements to protect customers and maintain orderly markets. In working with the Commission, CME, CFE and Cantor have
Velocimetrics, a provider of real-time business flow tracking and performance analytics, and CloudShark, the world’s first web-based packet capture management and analysis system, are partnering to enable traders, network operatives and financial IT specialists to have greater visibility into network packets of data.
Velocimetrics and CloudShark have collaborated to develop a modular solution in response to the market’s demand for a more precise and transparent approach to network visibility, primarily due to regulatory demands, such as from MiFID II. It will allow financial institutions to take a forensic approach to any problems that arise on the network, caused by market
Macroeconomic and financial market research veterans Chen Zhao, Tony Boeckh and David Abramson have partnered to launch Alpine Macro – an independent research firm dedicated to providing unique analysis, insights, forecasts and actionable investment strategy recommendations.
Chen, former Chief Global Strategist with BCA Research Group and more recently Co -Director of Global Macro Research with Brandywine Global Investment Management, Boeckh, former Chairman and Editor-in-Chief of BCA, and Abramson, former Chief US Strategist with BCA, will focus on providing differentiated market insights, contrarian views and profitable investment strategy recommendations that help investors manage risk and make better informed investment and asset
Quant Insight (QI), a macro research firm providing discretionary asset managers with actionable investment ideas, has made its research available via the RSRCHX platform.
Connecting QI’s investment ideas and the RSRCHXchange marketplace means portfolio managers can now seamlessly purchase QI macro research reports via the RSRCHX platform in a MiFID II compliant way.
Quant Insight’s macro research provides quantitative analysis and actionable investment ideas to hedge funds, asset managers, asset allocators, pension funds and wealth managers. Their investment expertise, combined with high-quality data, proprietary algorithms and AI driven machine learning models helps investors make sense of complex trading environments
One of the key roles that technology plays in global FX and OTC markets, which by their nature are highly fragmented, is the price discovery process; something that is set to become even more critical for MiFID entities in Europe when MiFID II regulation comes into effect on 3 January. Part of this complex regulation will be the need for buy-side firms to demonstrate that they are getting best execution on their trades.
“Without the application of technology, you are beholden to one or two providers, which is not efficient in helping to discover the best price in the market,”
