Solutions
The Commodity Futures Trading Commission and the Securities and Exchange Commission (Commissions) have delivered to Congress a joint staff study on “the feasibility of requiring the derivatives industry to adopt standardised computer-readable algorithmic descriptions that may be used to describe complex and standardised financial derivatives” (see Title VII, Sec. 719(b) of Dodd-Frank).
Based on the public input, staff investigation and analysis, the joint study concludes that current technology is capable of representing derivatives using a common set of computer-readable descriptions. These descriptions are precise enough to be used both for the calculation of net exposures and to serve as part
Fidessa group plc (LSE: FDSA), provider of high-performance trading, market data and global connectivity solutions for the buy-side and sell-side, has today announced the launch of its Mexican trading platform. The platform will provide market participants with all the features necessary for compliant multi-asset trading under Mexico’s new trading regulations, which include routing and prioritisation rules. The new regulations were introduced in order to make trading and connecting with the Mexican Exchange (Bolsa Mexicana BMV) easier, accelerate the drive to more automated trading solutions and bring Mexican market trading in line with international standards.
Alice Botis, Head of Business
NYSE Euronext’s global derivatives average daily volume (ADV) was 9.2 million contracts traded per day in March 2011, an increase of 11.9% versus the prior year.
The increase in global derivatives ADV versus prior year levels was driven by a 22.8% increase in US equity options ADV and a 3.2% increase in European Derivatives ADV. Cash equities ADV in March 2011 was mixed, with European cash ADV increasing 44.0% and U.S. cash trading volumes decreasing 2.1% from March 2010 levels.
Euronext European derivatives products ADV in March 2011 was 4.8 million contracts, an increase of 3.2% compared to March
Trading in steel billet at the London Metal Exchange has rocketed in the first quarter of 2011, up 305 per cent compared with the corresponding period last year.
In the first three months of this year, 69,426 lots were traded (2010: 17,134 lots), equivalent to 4.5 million tonnes (2010: 1.1 million tonnes). Market open interest has also jumped by 11 per cent, to 2,674 lots at the close of 31st March (31st March 2010: 2,400 lots). The total notional value of all contracts traded in the first quarter was USD$2.5 billion.
Chris Evans, Head of Business Development at
Eze Castle Integration is to host a series of live and virtual events throughout April 2011 to share the keys to successfully launching a hedge fund. The seminars in New York, San Francisco and online will detail ways in which participants can attract investors and retain capital, the effect of regulations on new funds, and the technology solutions available to funds.
The first event, "Launching a Hedge Fund: 10 Keys To Success," will take place in New York City on April 7 and feature speakers from Eze Castle Integration, Jefferies & Company, Sadis & Goldberg, Topwater Investment Management and Protocol
Trading in options on the shares of Brunel International have started on NYSE Liffe, the Europe-based derivatives business of NYSE Euronext (NYX). The new listed options are intended to enhance the shares’ appeal to investors who wish to hedge their share positions and want to benefit from price fluctuations. The Brunel options were introduced on the Amsterdam market of NYSE Liffe.
Alan van Griethuysen, Business Head Benelux and Asia of NYSE Liffe says:
“By introducing the options on Brunel shares we enhance the number of AMX-Index companies with equity options. Brunel has taken its rightful place among the group
The Mexican Derivatives Exchange (MexDer), the derivatives subsidiary of the Mexican Exchange (Bolsa Mexicana BMV), the second largest exchange in Latin America, and CME Group have successfully launched their south-to-north connection, giving Mexican investors access to CME Group’s benchmark derivatives contracts including interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.
“The direct, seamless order routing connection will make it possible to trade and route electronic orders on MexDer and CME Group, opening both their contracts to a broader range of traders,” says Luis Téllez, Chairman and CEO of BMV Group. “Our partnership with CME Group will
Active Alpha, the Switzerland-based trading-oriented equity long/short manager, has successfully continued delivering strong and uncorrelated performance since going independent six months ago.
“The rationale behind Active Alpha becoming an independent boutique was convincing in many ways, but most importantly, it allows us to be entirely focused on investment performance and fully align our interests with those of our investors. Recent research confirms our notion that being a smaller and very nimble investment manager is a characteristic that is increasingly sought after by many hedge fund investors”, says Active Alpha Chairman and CEO Daniel Schweizer.
Starting its fund in 2008 within
NYSE Euronext (NYSE: NYX) has received an unsolicited proposal from Nasdaq OMX Group, Inc (Nasdaq: NDAQ) and IntercontinentalExchange Inc. (NYSE: ICE) to acquire all outstanding shares of NYSE Euronext for a combination of USD14.24 in cash, 0.4069 shares of Nasdaq stock and 0.1436 shares of ICE stock per NYSE Euronext share.
Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, NYSE Euronext’s Board will carefully review the proposal. NYSE Euronext urges shareholders not to take any action with respect to the proposal.
NYSE Euronext’s financial advisers are Perella Weinberg Partners, BNP Paribas, Goldman,
In March 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 11.8 million contracts (March 2010: 10.0 million). Of those, 8.7 million were Eurex Exchange contracts (March 2010: 7.1 million), and 3.1 million contracts (March 2010: 3.0 million) were traded at the US-based International Securities Exchange (ISE).
The significant growth of Eurex Exchange turnover is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty. In total, 199.1 million contracts were traded at Eurex Exchange and 70.5 million at the ISE.
