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NYSE Euronext’s global derivatives average daily volume increased 17.5 per cent to 7.1 million contracts traded per day in July 2010.
The strong increase in derivatives ADV versus prior year levels was driven by an 11.1 per cent increase in European derivatives ADV and a 26.8 per cent increase in US equity options ADV in July 2010.
Cash equities ADV in July 2010 was mixed, with European cash trading volumes increasing 19.5 per cent, but US cash trading volumes decreasing 7.2 per cent compared to prior year levels.
NYSE Euronext global derivatives ADV in July 2010 of 7.1 million contracts
Fund services provider Maples Finance is using Geneva, Advent Software’s portfolio management and fund accounting solution, to capitalise on the growing demand for managed account administration services among institutional investors.
Geneva will serve as the firm’s platform for servicing multiple managed accounts and managers on behalf of investors.
Maples Finance originally implemented Advent’s Geneva to support its global fund administration business.
The technology enables Maples to expand its client base beyond hedge fund managers and service institutional investors directly.
"Hedge fund managed accounts can be quite complex in terms of security types, trade volume and fund structure," says Tyler Kim
The Depository Trust & Clearing Corporation has launched its Equity Derivatives Reporting Repository and has received Financial Services Authority approval for the DTCC Derivatives Repository subsidiary.
The building of the EDRR repository follows a competitive request for proposal process led by the International Swaps and Derivatives Association last year, and represents the industry’s efforts to strengthen its operational infrastructure and improve transparency across all major OTC derivatives asset classes.
All of the 14 global market dealers are now live on EDRR.
EDRR’s central registry will hold key position data, including product types, notional value, open trade positions, maturity and currency
Merlin Securities, a prime brokerage services and technology provider for hedge funds, managed account platforms and family offices, has launched a new reporting functionality which helps funds to more precisely articulate their performance for institutional investors.
Merlin’s clients can drill down and calculate additional required performance measures and ratios across multiple custodians for specific components of their portfolio: sector, market cap, industry, strategy, geography and a range of customisable user-defined components.
Merlin’s new functionality allows hedge funds to calculate and analyse their performance net of fees and expenses.
“In today’s competitive marketing environment, hedge fund investors require greater transparency and
Interdealer broker Tradition’s London-based biofuels desk closed the world’s first rapeseed oil swap between Totsa, based in Geneva, and a continental based fuel distribution company on 3 August.
The deal was for 1,000 metric tonnes for settlement in August 2010.
The swap will be settled against the rapeseed oil FOB Dutch Mill Euro/T quote in Argus Biofuels, published by Argus Media.
Kees Schipper, senior broker, biofuels at Tradition, says: “With the ongoing growth in biodiesel and grain derivatives market, trading of rapeseed oil swaps is a natural progression. Tradition is a full service energy broker and biofuels are the latest
Instinet, a provider of electronic trading and agency-only brokerage services, has launched Instinet Options CBX, a dark liquidity pool for US listed options.
The platform, which is currently live, has a base of liquidity providers and complements the agency-only broker’s existing options product offering.
“We are poised to apply our experience and insights in cash equity markets to US listed options markets as they continue evolving,” says Jonathan Kellner, president of the Americas at Instinet. “While there are key market microstructure differences between equities and options, the main contributor to providing best execution to our clients in any asset class
LCH.Clearnet Group is launching clearing for Spanish government bonds and repos.
The first service will be launched on 9 August 2010 in response to market demand from both domestic and international banks.
It will be operated by LCH.Clearnet’s RepoClear service with trades settling at either Euroclear Bank or Clearstream Banking Luxembourg.
For the first time, banks trading Spanish debt will be able to benefit from anonymous bond and repo trading, reduced counterparty risk and enhanced balance sheet netting.
The service will be able to accept both electronic and voice brokered trades from multiple trading sources.
John Burke, director and head
The derivatives exchange Eurex is celebrating the first anniversary of its agriculture derivatives segment.
Since its introduction on 20 July 2009, trading volume, open interest and market interest have been rising consistently.
Since the launch, open interest for the agricultural product suite has grown more than 50 per cent: at the end of July it stood at around 5,700 contracts.
The future on European processing potatoes, in particular, has experienced significant growth with 10,512 contracts traded in July – this is the first time it has exceeded the 10,000 contract mark in a given month. Already in June, the future
At the derivatives markets of Eurex an average daily volume of 8.1 million contracts was traded in July, down from 9.5 million in the same month the previous year.
Thereof, 5.6 million contracts were traded at Eurex (July 2009: 5.4 million) and another 2.5 million contracts were traded at the International Securities Exchange (July 2009: 4.1 million).
In total, 176.4 million contracts were traded on both exchanges compared with 214.6 million contracts in July 2009.
At Eurex, the equity index derivatives segment was the most successful segment, totalling 56.4 million contracts, compared with 65.0 million contracts in July 2009. Futures
In July EUR94.9bn was traded on Xetra and on the floor at Börse Frankfurt – an increase of five per cent year-on-year.
Of this, EUR89.3bn was traded on Xetra, an increase of six per cent year-on-year and EUR5.7bn was traded on the floor, a decrease by 11 per cent.
Turnover in German equities on Deutsche Börse’s cash markets amounted to EUR80bn, while foreign equities turnover stood at EUR12.1bn.
Xetra and the floor at Börse Frankfurt accounted for 96 per cent of the transaction volume in German equities on all stock exchanges in Germany. Eighty nine per cent of foreign equities
