New for Traders: Week ending June 22


  • CME confirmed that it will launch a US steel scrap contract in the fall in a move to expand its ferrous derivatives contracts offering. The contract is likely to be cash-settled, but no other details were available.
  • Hong Kong Exchanges & Clearing Ltd., host to the world’s fifth-largest equity market, agreed to pay 1.39 billion pounds ($2.15 billion) for the London Metal Exchange, which handles more than 80 percent of global trade in industrial-metal futures.


  • The International Securities Exchange (ISE) announced that order management functionality is now available in PrecISE Trade®, ISE's innovative, front-end execution system. PrecISE users are now able to route orders to other PrecISE users for execution. Additionally, PrecISE offers a new "parent/child" feature, or the ability to stage larger orders and divide them into smaller orders to better control order management and execution.  


  • OANDA announced that the company will soon execute its one-billionth transaction as an online broker. To celebrate the milestone, OANDA is awarding $10,000 to the customer who makes the first trade immediately after the trading platform transaction counter hits 1,000,000,000. Prizes also will be awarded to the second and third trades following the billionth transaction ($1,000 and $500, respectively).


  • NYSE Euronext will list Groupe Eurotunnel stocks on its London-based board. Groupe Eurotunnel will delist from the LSE. This is the first listing of NYSE Euronext London. In addition, NYSE will list shares of Burger King in New York.
  • The Commodity Futures Trading Commission’s Division of Market Oversight today certified a Dow Jones Industrial Average Futures contract submitted by the Osaka Securities Exchange on April 30, 2012. The contract satisfies the requirements of the Commodity Exchange Act and the Commission’s Regulations and may be offered or sold to persons in the United States through OSE’s direct access terminals located in the U.S.
  • Nasdaq announced that it will launch a London-based derivatives platform called “Nasdaq OMX NLX,” which will trade interest rate products, placing it in direct competition with Deutsche Borse and NYSE Euronext. The platform will trade both short-term and long-term interest rate EUR and GBP-based listed derivative products.
  • The Chicago Board Options Exchange (CBOE) announced that it will begin disseminating values for its first interest rate-based volatility index, the CBOE Interest Rate Volatility Index (ticker: SRVX), on Monday, June 18. The SRVX Index is designed to offer fixed income options traders and portfolio managers a standardized and transparent measure of interest rate swap volatility.


  • ASX will introduce new functionalities to its Centre Point anonymous mid-spread matching engine. New features allow traders to set a minimum fill size for their orders and post sweep orders seeking for price improvements prior to routing to the other markets.
  • Omgeo added new functionality to ProtoColl, its automated collateral management solution, which will give users a single view of their collateral exposures across bilateral and centrally cleared OTC derivatives trades, exchange-traded derivatives and other transactions. A 2011 report by Finadium and Omgeo forecast that collateral required in the OTC derivatives market will increase by 41% over the next 12 to 18 months, in part owing to new regulatory requirements.
  • Accelize and ENYX announced a partnership aimed at providing acceleration solutions to the financial services industry. The combination of Accelize’s low latency FPGA network adapter cards and infrastructure building blocks (IP) and ENYX financial expertise, FPGA design expertise, and finance-specific building blocks (IP) will enable their joint customers to design and deploy customized ultra-low latency FPGA based trading, basket pricing and pre-trade risk solutions whether they are FPGA experts or not.
  • Patsystems announced that PFGBEST joined Patsystems XConnect in Chicago to offer the trading platform to its global client base. By using the Patsystems XConnect front end trading platform, customers of PFGBEST receive low latency access to several futures exchanges, including CME Group, Eurex, IntercontinentalExchange (ICE), LME, and NYSE Liffe.
  • OptionsCity Software announced its connectivity to NYSE Liffe, the global derivatives exchange of the NYSE Euronext group.
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