Solutions
SuperDerivatives has filed an application with the US Commodity Futures Trading Commission (CFTC) to become a fully registered swap execution facility (SEF).
In line with the regulations being introduced as part of the Dodd-Frank act in the US, SuperDerivatives has developed SDX Trading, a suite of SEF-compliant electronic trading solutions for currency and commodity derivatives.
SDX Trading will offer the choice of anonymous or disclosed trading, and all products will be eligible for clearing via a CCP where possible. Together with its front office platform, SDX, and its risk management system, RMX, SuperDerivatives now offers a consistent workflow
The first phase of CBOE Futures Exchange’s extended trading hours initiative for CBOE Volatility Index (VIX Index) futures will begin on 21 October, with the second phase to follow on 28 October.
"Volatility traders have eagerly anticipated the expansion of trading hours for our highly successful VIX futures contract, and we are thrilled to begin that rollout in a few weeks," says CBOE Holdings chief executive officer Edward T Tilly. "We are pleased to provide our European customers with the opportunity to trade VIX futures during local trading hours, but we also believe our entire global base of VIX
The Chicago Board Options Exchange (CBOE) and CBOE Futures Exchange (CFE) are to launch trading on Russell 2000 Volatility Index options (RVX) and futures (VU).
Trading on Russell 2000 Volatility Index futures will begin on 30 October, with options trading to begin in the weeks that follow, pending regulatory review.
The Russell 2000 Index measures the performance of small-capitalisation US stocks and is an effective gauge and play on the health of the US economy. Eighty four per cent of the revenues generated by the companies in the index come from within the US.
Because US small-cap
Traiana and MarketAxess SEF have completed the first live credit default swap (CDS) index trade using Traiana’s CreditLink service as the credit hub to verify pre-trade credit limits.
JP Morgan acted as the clearing member for the major buy-side participant on the trade.
Under the Commodity Futures Trading Commission’s (CFTC) swap execution facility (SEF) rules a clearing member must carry out pre-trade credit checks on trades prior to execution. CreditLink acts as a centralised hub and provides trading platforms, clearers/prime brokers, executing banks and buy-side firms the ability to monitor and manage pre- and post-trade credit in real-time
FIX Trading Community has published recommended guidelines for the efficient electronic communication of client entitlement information between broker-dealers and the emerging swap execution facilities (SEFs).
The guidelines explain how the currently manual business process that will be required to transfer details about client relationships and their associated permissions can be carried out in an electronic, automated and standardised manner, presenting the potential to reduce operational risk and generate considerable efficiency gains and cost savings.
As regulatory efforts such as the US Dodd-Frank Act and the EU’s MiFID II seek to increase market stability, the structure of the OTC
The US Commodity Futures Trading Commission (CFTC) has approved the applications of tpSEF and Tradition SEF for temporary registration as swap execution facilities (SEFs).
tpSEF and Tradition SEF’s applications for temporary registration as SEFs were approved by the Commission on 24 and 25 September, respectively.
tpSEF is a Delaware corporation and is a wholly-owned subsidiary of Tullet Prebon Americas Corp.
Tradition SEF is a Delaware limited liability company and is a wholly-owned subsidiary of Compagnie Financiere Tradition SA, a Switzerland corporation.
A SEF is a category of CFTC registered entities created by the Dodd-Frank Wall Street
The Commodity Futures Trading Commission (CFTC) has granted temporary registration of Tullett Prebon’s swap execution facility (SEF), tpSEF Inc.
tpSEF is headquartered in New Jersey and is a wholly owned subsidiary of Tullett Prebon. It has been established to ensure the company’s compliance with Dodd-Frank legislation, enacted on 21 July 2010.
Tullett Prebon’s SEF is a multi-asset SEF which will offer SEF compliant execution services in the five asset classes covered under Dodd-Frank legislation. The SEF will use Tullett Prebon’s electronic broking platforms: tpSWAPDEAL and tpMATCH for rates; tpCREDITDEAL for credit indices; tpFORWARD DEAL, tpMATCH NDF and tpMATCH
Hedgebay Trading has launched an electronic settlement service for the hedge fund secondary market.
The new electronic functionality will be available on Hedgebay’s website and will assist in the settlement process.
The service is expected to initially reduce overall trading time by up to an estimated 20 per cent. Currently, secondary market participants rely on a manual trading and settlement process. Typically, a transaction takes at least 90 days to close.
Hedgebay believes the new service should provide significant follow-on benefits to the overall secondary market and its participants. Chief among these, in Hedgebay’s view, are the
Models that aim to predict daily stock returns perform better when they combine text data and financial quantitative data, according to Capital Markets Cooperative Research Centre (CMCRC).
A study by Zhendong (Tony) Zhao, Nataliya Sokolovska and Professor Mark Johnson looks at combining quantitative and text data rather than treating them separately reducing errors by almost three per cent compared to results when only quantitative data is examined.
Johnson says: “An almost three per cent improvement doesn’t seem large but it has a significant impact in finance because the new method’s prediction is closer to the real value. This
Lindeata has strengthened its real-time hedge fund portfolio management offering with new intelligent data visualisation and portfolio monitoring via Linedata Global Hedge.
Hedge funds globally are challenged with navigating global regulations, meeting and managing investor expectations, and their own search for performance across disparate global markets and increasingly complex trading environments. These challenges highlight the need for technology that can deliver the real measurable benefits of a streamlined and efficient trading and operational workflow.
Gary Brackenridge, global head of hedge funds business line for Linedata, says: “Linedata has been working to support our hedge fund clients for 15
