Eurodollar Options Pits to Stay Open Derivatives exchanges operator CME Group has announced that the physical trading pits shut down since March 2020 because of the COVID-19 pandemic will remain permanently closed as global financial markets move toward a post-pandemic phase. Not all open outcry venues will close, though. “The Eurodollar options pit, which was… Read More >>
ISITC’s Workaround for SWIFT & Negative Trading Prices
The Derivatives Working Group of ISITC, a securities industry standards group, is helping to spotlight a problem that has gotten lost in the shuffle of a pandemic and sudden recession. Essentially, how do users of the SWIFT financial messaging network process negative trading prices on commodity futures? “The effort was spurred by recent market event… Read More >>
BNP Paribas Deploys Managed Service for Listed Derivatives
BNP Paribas has gone live with a hosted, derivatives trading platform for a complex workflow of listed derivatives trading operations in Europe, Asia-Pacific and North America. Bank officials add that they expect the deployment to boost customer service via the platform’s cross-asset capabilities. The platform from vendor Fidessa has been set up as “a fully-managed… Read More >>
ABN AMRO Clearing to Use Fidessa Execution Services
A clearing and financing services provider ABN AMRO Clearing (AAC) is working with trading systems vendor Fidessa to offer managed, cross-asset execution services to AAC clients via a new deal between them. The new link would provide AAC clients with low-latency access to more than 110 futures, options, equities and foreign exchange (FX) markets globally,… Read More >>
LCH Launches a Spider for Swaps Portfolio Margining
LCH Spider to Help with OTC and Listed Derivatives Clearinghouse LCH has launched its “LCH Spider” service, described as a portfolio margining tool for over-the-counter (OTC) and listed interest rate derivatives, for members and clients using LCH’s SwapClear and Listed Rates offerings, officials say. “LCH Spider is a fully automated service that analyses member and… Read More >>
Omgeo Alert Settlement Utility Hits Milestone
Omgeo Alert, an online global database of account information and standing settlement instructions (SSIs), has hit a milestone with more than six million settlement instructions — a major step forward in its push to become the dominant SSI utility, say officials of the post-trade market infrastructure services provider the DTCC, which owns Omgeo. SSIs hold… Read More >>
Borsa İstanbul Picks Orc for Connectivity
Orc, a specialist in electronic trading technology for listed derivatives, reports that its interface with Turkey’s Borsa İstanbul now “enables quoting and trading” for all Orc clients on the exchange that are using the Orc Execution Bricks or the Orc Trading Bricks platforms. “Turkey is becoming an increasingly attractive market, with a steady rise in… Read More >>
Orient Securities Moves Into Shanghai Stock Exchange Market
Orc, a specialist in electronic trading technology for listed derivatives, reports that China’s Orient Securities Co. Ltd. has picked Orc’s Trading Bricks platform for its options market making operations on the Shanghai Stock Exchange (SSE). Trading Bricks “will support Orient Securities’ expanding market making operations in China,” Orc says in a statement, which notes also… Read More >>
RJO European Affiliate Buys Kyte Group from GFI
Chicago brokerage R.J. O’Brien and Associates’ (RJO) European affiliate R.J. O’Brien Europe Ltd. (RJO Europe) will acquire interdealer broker GFI Group’s subsidiary The Kyte Group Ltd., officials say. Terms of the transaction were not disclosed, and the UK Financial Conduct Authority has approved the transaction, which is expected to close no later than March 17,… Read More >>
UBS Securities Expands DMA via Orc
UBS Securities has extended its broad usage of derivatives technology vendor Orc’s Electronic Execution solution to facilitate direct market access to the Australian Stock Exchange (ASX) and the Chicago Mercantile Exchange (CME), officials say. The UBS group has used Orc solutions to deliver on their customer’s DMA requirements since 2007, according to UBS and vendor… Read More >>
