Solutions
GFI Group Inc has launched its Short Term Interest Rate Futures and Options (STiRs) desk. The new desk will execute a variety of contracts including Eurodollar Futures and Options, US Treasury Futures and Options, 30 Day Fed Funds and the execution of UK and European short and long end derivatives.
The new desk, with operations in Chicago and New York will be run by John Wagner and Simon Gittins. The group has a combined experience of over 50 years in brokering Eurodollar and Treasury futures and options.
The Chicago team will be led by John Wagner, who will be
NYSE Euronext saw global derivatives average daily volume (“ADV”) of 8.8 million contracts traded per day in April 2011 a decrease of 18.5% versus the prior year, which benefited from un-seasonally strong trading volumes due to heightened market volatility driven by the sovereign debt crisis in Europe.
April 2010 was the second highest level of derivatives monthly trading volume in 2010, second only to May 2010. When compared to the strong first quarter of 2011, Global Derivatives trading volumes in April 2011 are down only 2.4%. Cash equities ADV in April 2011 declined across all venues, with European cash
New York based CTA Systematic Alpha Management (SAM) has extended its contract with QuantHouse, a leading supplier of next-generation trading systems, to include QuantLINK, an advanced trading infrastructure interconnecting the heart of exchanges with proximity hosting at the source.
QuantLINK will enhance QuantHouse’s global order routing capabilities and co-location services within exchanges. As a result of the contract, SAM has placed two high performance servers in the QuantHouse facility in Chicago, located in the vicinity of the Chicago Mercantile Exchange (CME) data centre order matching engine.
Using QuantLINK’s low-latency connection with the CME order server will significantly reduce overall
ConvergEx Group’s NorthPoint prime services and technologies business has enhanced its offering for traditional mutual funds that are looking to employ alternative investments, including trading in shorts, options and futures as part of their overall strategy.
NorthPoint has seen a significant uptick in demand for these kinds of solutions and these latest enhancements are designed to meet the needs of this growing customer segment.
The NorthPoint platform now offers a solution that leverages several ConvergEx platforms, including the Eze OMS and RealTick, to monitor mutual funds’ collateral needs and liaise with fund administrators and custody banks to ensure those
Singapore Exchange (SGX) saw increased volumes on its derivatives market in April, with daily average volume up 12% from a year earlier at 252,401 contracts. Total volume, meanwhile rose 3% to 4.9 million contracts.
Nifty futures trading increased 37% from a year earlier to 1.1 million contracts while FTSE China A50 futures volume was 193,884 contracts in April.
SGX’s Securities daily average value meanwhile shrank 4% year on year to SGD1.6bn due to continued market uncertainties, with total securities turnover down 8% at SGD32.3bn. Exchange traded fund turnover however, grew 43% year on year to SGD696 million.
Clearing of OTC
The Securities and Exchange Commission has voted unanimously to propose rules further defining the terms “swap,” “security-based swap,” and “security-based swap agreement.” The Commission also proposed rules regarding “mixed swaps” and books and records for “security-based swap agreements.”
The rules were proposed jointly with the Commodity Futures Trading Commission (CFTC) and stem from the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“The proposed definitions balance several policy and legal issues in a way I believe is practical, takes into account the specific nature of derivatives contracts, and is consistent with existing securities regulations,” says SEC Chairman Mary L Schapiro
NYSE Euronext (NYX) has reported net income of USD155 million, or USD0.59 per diluted share for the first quarter of 2011, compared to net income of USD130 million, or USD0.50 per diluted share for the first quarter of 2010.
Results for the first quarter of 2011 and 2010 include USD21 million and USD13 million, respectively, of pre-tax merger expenses and exit costs. Merger expenses and exit costs in the first quarter of 2011 included USD15 million related to the proposed merger with Deutsche Boerse. Excluding the impact of these items, net income in the first quarter of 2011 was USD177 million,
NYSE Euronext’s Board of Directors, consistent with its fiduciary duties and advised by its financial and legal advisors, has unanimously reaffirmed its combination agreement with Deutsche Boerse AG (XETRA:DB1) and reaffirmed its rejection of the proposal from Nasdaq OMX Group, Inc. (Nasdaq: NDAQ) and IntercontinentalExchange, Inc. (NYSE: ICE).
Speaking on behalf of the Board, NYSE Euronext Chairman Jan-Michiel Hessels (pictured) says: “Our Board has reviewed the information recently provided by Nasdaq/ICE in connection with their proposal and concluded that this proposal is substantially the same as what was previously rejected. Consequently, our view has not changed. This proposal does
Online& has launched its tiered website platform designed specifically to assist companies in the alternative investment community enhance their marketing, investor relations, regulatory compliance, and data security efforts. With flexible pricing and no ongoing subscription costs, the solution scales to provide the right tools for any size firm.
The modular, scalable system robustly supports marketing, investor relations, compliance, and security requirements for investment management firms and service providers.
Developed and refined over the course of the past decade, the Online& Investment Management components have been deployed for large established hedge fund organisations, small start-up managers, CTAs, funds of funds, and
Barclays Bank has become the latest bank to support the joint venture between CLS Group and Traiana, which provides trade aggregation services to participants active in the over-the-counter FX market.
Barclays Capital joins an initial group of eight banks as a CLS Aggregation Participant in CLS Aggregation Service LLC (CLSAS), comprising BoA Merrill Lynch (NYSE: BAC), Credit Suisse (NYSE:CS), Citibank (NYSE:C), Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB), Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS) and Royal Bank of Scotland (RBS.L).
CLSAS offers a wide range of benefits for participants, including improving post trade operational
