Solutions
November saw record volumes for LCH.Clearnet’s interest rate swap clearing service, SwapClear.
The total number of cleared OTC trades for the month reached 76,650 trade sides, 12 per cent more than October and a 24 per cent increase on November 2009.
The increased figures bring the total outstanding number of IRS transactions to 1,720,390 trade sides with a notional value of USD248.3trn equivalent.
The last quarter saw an average of 3,309 trade sides cleared daily and over the last five years the notional value has risen at a 40 per cent per annum compound rate.
Michael Davie, chief executive, SwapClear
The Depository Trust & Clearing Corporation has launched an automated over-the-counter equity derivatives cash flow matching and netting service with all of the 14 major dealers live on the platform.
"In an environment where risk mitigation is paramount, the OTC derivatives community has placed great priority in promoting improved certainty in the market,” says Lawrence Waller, managing director, J.P. Morgan. “The new automated cash flow matching and netting process for OTC equity derivatives facilitates seamless and timely settlement. J.P. Morgan is pleased to be working with the DTCC and our peers to bring such global solutions to market.”
The creation
The International Securities Exchange has released an updated schedule for the launch of its new options trading system, based on Deutsche Börse Group’s Optimise trading architecture.
The roll-out of Optimise at ISE will begin in April 2011 and continue into July as both ISE’s primary and second markets migrate to the new platform.
Based on input from ISE member firms, ISE completely revised the Optimise implementation timetable and will now provide greater system functionality from day one of the Optimise launch.
Daniel Friel, ISE’s chief information officer, says: “In developing our new trading system built on the Optimise platform, we
BTIG, a broker dealer specialising in institutional trading and related brokerage services, has opened a new trading desk at 825 Third Avenue.
“BTIG continues to invest in people, technology and services. The newly completed New York trading floor is BTIG’s largest trading desk and works in unison with our regional trading desks around the country and our international affiliates around the world,” says Scott Kovalik, co-founder of BTIG.
Phase one of BTIG’s New York renovation is now complete with the opening of its new trading floor on the 6th floor of 825 Third Avenue. The new trading floor has been
Multifonds, a provider of single platform multi-jurisdictional investment fund software, has released the latest version of Multifonds Transfer Agent, v3.60.
The release includes 12 extensions to the hedge fund, performance fee equalisation and series of share functionality.
For example, it includes extensions to dividend distribution capabilities for equalisation or series of shares funds, as well as the ability to on-board funds between crystallisation periods by catering for the migration of performance fee history.
Keith Hale, global head of transfer agency at Multifonds, says: “We have been working closely with several fund administrators that had previously run legacy in-house systems,
PerTrac, a provider of analytic, reporting and communications software for investment professionals, says 20 firms have selected PerTrac RiskPlus as their solution of choice for examining and reporting on risk exposure across their portfolios.
PerTrac partnered with FinAnalytica, a provider of real-world risk and portfolio construction solutions, to deliver PerTrac RiskPlus to customers looking to conduct in-depth risk assessment of their portfolios.
“PerTrac RiskPlus has been embraced by investment professionals who are looking for a way to identify risk in portfolios that include funds and alternative investments,” says Jeff Hendren, co-president of PerTrac. “Our customers are realising significant new
Ronly and Morgan Stanley Commodities have traded the first cash-settled cleared swap in the emerging China domestic rebar market.
The trade, which was brokered by Freight Investor Services, was for China Domestic Rebar Q1 2011 executed at USD690/tonne, with settlement against the Cleartrade China Steel Index and clearing at LCH.Clearnet.
The new contract is one of a series of new products introduced in October and November to provide access to European and Chinese steel futures markets for traders who want to execute OTC cleared transactions without the need for exchange membership.
Earlier this month, FIS began offering contracts in China
The Commodity Futures Trading Commission has made available more than four years of history of “Traders in Financial Futures” data included in the weekly Commitments of Traders reports.
The reports disclose, on a weekly basis, the futures and options positions in financial futures markets held by the following categories of large traders: dealer/intermediary, asset manager/institutional, leveraged funds and other reportables.
“Promoting market transparency is at the core of the CFTC’s mission,” CFTC chairman Gary Gensler says. “Releasing four years of history for the Traders in Financial Futures will provide regulators, market participants and the public with additional transparency and a
Imagine Software, a provider of real-time, integrated portfolio and risk management solutions, has launched Imagine 7, the first in a series of product launches scheduled over the next 18 months.
It introduces interactive data visualisation capabilities, a new user interface, enhanced risk analytics, support for additional asset classes, advanced charting, and customised reporting capabilities.
Imagine 7 is designed to help clients respond effectively to key market trends such as sustained market volatility, the need for advanced reporting capabilities that can help attract investor inflows and address evolving regulatory requirements, and the necessity for diversified risk management methodologies.
A large
NYSE Euronext has reported an average daily volume of 8.2 million contracts for global derivatives in November 2010, up 12.6 per cent versus the prior year and 9.9 per cent from October 2010 levels.
The increase in global derivatives ADV versus prior year levels was driven primarily by a 28.5 per cent increase in US equity options ADV.
Open interest for the European derivatives businesses at the end of November 2010 was 82.8 million contracts, a decrease of 9.8 per cent compared to November 2009, but an increase of 0.9 per cent from October 2010 levels.
NYSE Euronext European derivatives
