Solutions
NYSE Euronext has migrated the NYSE Arca options and NYSE Amex options markets to the Universal Trading Platform.
This migration marks a step in the expansion of the Universal Trading Platform, NYSE Euronext’s end-to-end trading solution.
It follows the migration of the NYSE Arca equities market in January.
NYSE Euronext says its US options trading customers will now benefit from improved performance, while still maintaining the ability to trade options on separate market models with unique attributes.
Customers can continue to choose between the price-time priority model on NYSE Arca and the more traditional pro-rata/customer priority model on NYSE Amex.
BNY Mellon Clearing will become a clearing member of the International Derivatives Clearinghouse, a derivatives clearing organisation regulated by the US Commodity Futures Trading Commission.
With this membership, BNY Mellon Clearing will be able to offer its clients central counterparty clearing of interest rate derivatives, which are an important financial risk management tool for corporations, investors, and municipalities.
BNY Mellon clients and their market makers will be able to continue to execute interest rate derivatives in the well-established OTC market.
With this new membership, clients will also be able to benefit from counterparty credit risk mitigation, special bankruptcy provisions related
LCH.Clearnet is set to launch clearing for the over-the-counter wholesale London gold market in a joint initiative with the London Metal Exchange.
This post-trade service, to be introduced in November 2010, will allow bilateral OTC trades to continue to be negotiated and executed as per current market practices.
Contracts to be cleared will be captured via LME’s trade capture system, LMEsmart, with matched bilateral trades submitted to LCH.Clearnet for clearing.
Market participants will be able to benefit from margin offsets with other metal contracts listed on the LME, improved collateral management, increased liquidity and lower operational costs.
Introducing clearing
NYSE Euronext and Microfis plan to set up the first organised market for listing and trading of bonds based on debt from international microfinance institutions and solidarity businesses as defined by the Economic Modernisation Act (LME).
The new NYSE Euronext market segment will offer investors a range of products in an environment that is secure and transparent.
Microfis will handle origination, analysis and tracking of high-quality assets, as well as their transformation into tradable securities and their syndication.
Scheduled for launch in the last quarter of 2010, the market segment is dedicated to responsible finance.
Paris Europlace, the organisation that
At the derivatives markets of Eurex an average daily volume of 10.9 million contracts was traded in June 2010, up from 10.7 million in June 2009.
Of those, 8.3 million contracts (June 2009: 6.7 million) were traded at Eurex; another 2.6 million contracts (June 2009: 3.9 million) were traded at the International Securities Exchange.
The increase of Eurex turnover of 25 per cent year-on-year 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 the dividend season. In total, 241.1 million contracts were traded on both
Advent Software has entered into an agreement with SuperDerivatives to offer its multi-asset web analytic system and revaluation services to clients of Geneva, Advent’s portfolio management and fund accounting solution.
SuperDerivatives is a derivatives solution provider which provides real-time pricing for simple and complex derivatives instruments through its unique pricing models.
SuperDerivatives’ products cover the spectrum of derivatives usage, including real-time pricing and analytics platforms, risk management systems, portfolio revaluation services, options market data portal and an online trading platform.
Advent will develop an integration accelerator based on the layouts, formats, and instrument constructs of the revaluation pricing services provided
Quintillion, an independent hedge fund administration firm, has released an enhanced version of its proprietary reconciliation suite, Q Match, incorporating automated open trade equity reconciliation modules for the commodity trading advisers sector.
Q Match provides a fully automated platform for daily reconciliation of positions, profit and loss data, cash and unrealised gains and losses between Quintillion and numerous portfolio management systems and prime brokers.
The automated cash and open trade equity reconciliation modules ensure efficient interfaces between clearing brokers and counterparties to Quintillion’s fund accounting records on Advent Geneva.
The open trade equity reconciliation module enables high volume trading CTA
NYSE Technologies, the commercial technology unit of NYSE Euronext, and Markit, a financial information services company, have launched a joint initiative designed to consolidate data and enhance transparency in the European over the counter equity markets.
NYSE Technologies will integrate data from Markit Boat, the largest trade reporting venue in Europe, within its own range of market data products.
This will give joint users access to trade reports on an average of roughly EUR30bn of OTC trades in equities every day which is equivalent to approximately 80 per cent of the daily volumes traded on all European equity markets through
The Depository Trust & Clearing Corporation plans to establish a subsidiary called DTCC Derivatives Repository, which will maintain global credit default swap data identical to that maintained in its New York based Trade Information Warehouse.
The move is intended to help ensure that regulators globally have secure and unfettered access to global data on credit default swaps by establishing identical CDS data sets on two different continents.
“DTCC has always envisaged a ‘global solution’ for repository services supporting each OTC asset class,” says Stewart Macbeth, managing director and general manager, Trade Information Warehouse. “It is very common for counterparties to
The New York Stock Exchange will implement new circuit-breaker collar trigger levels for third quarter 2010 effective 1 July 2010.
Circuit-breaker points represent the thresholds at which trading is halted marketwide for single-day declines in the Dow Jones Industrial Average.
Circuit-breaker levels are set quarterly as ten, 20 and 30 per cent of the DJIA average closing values of the previous month, rounded to the nearest 50 points.
In third-quarter 2010, the ten, 20 and 30 per cent decline levels, respectively, in the DJIA will be as follows:
Level 1 Halt
A 1,000-point drop in the DJIA before 2 p.m.
