Solutions
Aquis Exchange, the proposed pan-European equities trading exchange, has entered into agreements with EMCF, LCH.Clearnet and SIX x-clear for them to provide it with central counterparty (CCP) services.
Aquis Exchange is set to introduce subscription pricing for European stock trading when it launches. It is currently awaiting approval from the UK’s Financial Conduct Authority.
These CCP agreements mean that Aquis Exchange will be able to offer its members high quality counterparty risk protection, settlement netting facilities and post-trade anonymity.
EMCF, LCH.Clearnet and SIX x-clear together account for the majority of the current European equities clearing market.
Altegris Clearing Solutions has added BofA Merrill Lynch’s futures and options and OTC clearing unit to the roster of futures clearing firms with which it maintains introducing relationships.
BofA Merrill Lynch is the eighth leading futures commission merchant (FCM) to offer its services to clients of Altegris Clearing Solutions.
Altegris Clearing Solutions seeks to simplify for its clients the establishment of multiple futures clearing relationships. A multi-FCM framework may be particularly useful for institutional investors and hedge funds that desire more than a single provider for specific trading markets access, seek to diversify their futures clearing among multiple
Melanion Capital, the first alternative manager to specialise in investment in dividend futures, has welcomed the announcement from Eurex of record volumes in the exchange’s dividend-based derivatives segment.
According to Eurex, September’s monthly trading was a record high of 989,000 contracts representing an increase of 52 per cent year-on-year.
Dividend derivatives trading divides into indices and single stocks. During September, open interest in Eurex dividend indices grew to over 3.5 million contract and open interest in single stock dividend futures grew to some 1.6 million contracts helped by a spike in the volume of Vodaphone dividend futures changing
ARQA Technologies, the independent financial markets software provider, is to provide clients with a consolidated financial data feed provided by S&P Capital IQ Real-Time Solutions.
The provider of next generation trading products will address the growing demand from ARQA clients for differentiated low-latency data at different speeds.
S&P Capital IQ Real-Time Solutions is one of ARQA Technologies’ long-standing partners in the provision of fast market data delivery. The global ConsolidatedFEED, an additional offering from the firm, is designed for investors, sales/traders and risk managers, as well as electronic quote and news applications. The end-to-end market data feed is
Trading volume in CBOE’s SPXpm – S&P 500 Index options that are PM-settled – established an all-time daily volume record this week as 54,611 contracts changed hands.
Wednesday’s record surpassed the previous daily volume record of 39,472 SPXpm contracts traded on 21 June 2013.
In February, SPXpm options trading moved from C2 Options Exchange’s (C2) all-electronic environment to CBOE’s hybrid model to expose SPXpm to a broader base of users, including the SPX trading crowd on CBOE’s trading floor. The migration of SPXpm unified all of CBOE’s S&P 500 products on a single exchange.
CBOE’s S&P 500
Global Prime Partners is to offer Liquid Group’s Liquid platform to its portfolio of existing European clients as well as all new prime brokerage clients, becoming the exclusive prime brokerage partner of Liquid in Europe.
Global Prime Partners has also selected the Liquid platform to monitor its firm-wide risk exposure to its prime brokerage clients, including hedge funds and other asset managers.
Global Prime Partners will gain access to the Liquid platform’s set of real-time front-office and data management services powered by Liquid’s private cloud, providing clients with technology to help decide what to trade, place the trade,
SunGard is to provide Financial Information eXchange (FIX) connectivity through its SunGard Global Network (SGN) to DelphX to create CentralX, a neutral, centrally-cleared global facility.
The CentralX market will be integrated within SGN to facilitate anonymous all-to-all interaction of orders entered by SGN users and buy-side and sell-side subscribers to DelphX and other participating fixed income ATS/ECNs and linked trading platforms.
"CentralX is specifically designed to serve the growing need for centralised interaction among all fixed income market participants to help achieve best execution, stimulate liquidity and reduce market fragmentation. Our commitment to providing transparency, anonymity and a level playing
September trading volume in CBOE Volatility Index (VIX) futures totalled 2.96 million contracts, a 23 per cent increase from September 2012 and a 15 per cent decrease from the previous month.
Average daily volume in VIX futures during September was 148,039 contracts, a 17 per cent increase from September 2012 and a seven per cent decrease from August.
Year-to-date trading volume in VIX futures outpaced last year by 86 per cent. Through the end of September, a total of 30.03 million VIX futures contracts have traded.
September exchange-wide trading volume at CBOE Futures Exchange totalled 2.98 million
Order book turnover on Xetra, the Frankfurt Stock Exchange and Tradegate stood at EUR96.9bn in September 2013, down from EUR98.9bn in September 2012.
Of the EUR96.9bn, EUR88.8bn was attributable to Xetra (September 2012: EUR91.1bn) and EUR4.2bn was attributable to the Frankfurt Stock Exchange (September 2012: EUR4.7bn). Order book turnover on Tradegate Exchange totalled approximately EUR4.0bn in September (September 2012: EUR3.1bn).
In equities, turnover reached EUR85.7bn on Deutsche Börse’s cash markets (Xetra: EUR79.9bn, Frankfurt Stock Exchange: EUR2.1bn, Tradegate Exchange: EUR3.7bn).
Turnover in bonds was EUR1.0bn, and in structured products EUR1.2bn. Order book turnover in ETFs/ETCs/ETNs amounted to EUR8.9bn.
BGC Partners’ subsidiary BGC Derivative Markets has launched operations as a swap execution facility (SEF), consistent with the derivatives trading regulations under the Dodd-Frank Act.
"Today marks an important milestone as we enter a new era of derivatives transactions," says Shaun D Lynn, president of BGC. "After extensive preparations for this day we are excited to offer our clients the opportunity to trade regulated swaps through BGC’s swap execution facility."
BGC’s technology infrastructure includes fully-compliant execution methodologies such as anonymous central limit order book (CLOB), name disclosed request for quote (RFQ) system, intra-day electronic auctions, indications of interest,
