New for Traders: Week ending July 27

Commodities

  • The board of LME Holdings Limited, the parent company of The London Metal Exchange (LME), announced that ordinary shareholders of LME Holdings approved all the resolutions required in connection with the proposed scheme of arrangement to implement the acquisition of LME Holdings by Hong Kong Exchanges & Clearing Limited (“HKEx”).
  • The European Energy Exchange (EEX) and Trading Technologies International, Inc. (TT) announced that EEX products are now tradable via EEX memberships on TT’s platform. All EEX derivatives products are now available through TT’s Eurex gateway and tradable via TT’s X_TRADER® order-entry platform and related electronic trading products.
  • IntercontinentalExchange announced that all options on futures listed on ICE Futures U.S. will trade exclusively on the ICE electronic trading system beginning on trade date October 22, 2012. While the contracts will no longer trade through open outcry, ICE Futures U.S. will continue to support access to the electronic platform for Exchange-member brokers and proprietary traders from the floor facility. 

Options

  • The Chicago Board Options Exchange (CBOE) introduced a process for trading SPX Variance Strips (ticker: VSTRP). SPX Variance Strips are designed to electronically trade a large and complex portfolio of S&P 500 options (SPX) in a single transaction, replicating S&P 500® implied variance exposure. Additionally, “V-Strips” will employ a quoting convention similar to that used in over-the-counter (OTC) variance trading.
  • The International Securities Exchange (ISE) announced that it has introduced a new order type, the Add Liquidity Only Order (ALO). An ALO specifies that the order can only be executed if it adds liquidity to the order book as a "maker." If the order cannot be added to the book, it will be cancelled, or may be re-priced to rest on the book at the discretion of the firm entering the order.  
  • On July 18 OCC received notice it has been designated as a systemically important Financial Market Utility by the Financial Stability Oversight Council as part of the Dodd-Frank financial overhaul law.

Forex

  • Citi selected Dow Jones & Company’s specialized FX news service, DJ FX Trader, to provide real-time data releases and global economic news to its FX traders and sales staff. The content is delivered through the bank’s in-house information service, CitiFX Wire.
  • OANDA’s latest update to its popular iPhone trading app integrates price alert functionality and StockTwits social commentary on currency pairs and forex markets. This new release is available for free download from the Apple iTunes store.
  • FXCM Inc. announced the addition of the NinjaTrader trading platform to its suite of platform offerings. Traders can now begin beta testing FXCM’s integration with NinjaTrader for forex trading.

Financials

  • On July 18 OCC received notice it has been designated as a systemically important Financial Market Utility (SIFMU) by the Financial Stability Oversight Council (FSOC) as part of the Dodd-Frank financial overhaul law.
  • ICE launched clearing for emerging markets credit default swap (CDS) indexes. ICE Clear Credit, ICE's North American CDS clearing house, is the first to offer real-time, trade-date clearing of the Emerging Markets CDS index (CDX.EM) for buyside and dealer-to-dealer trades.

Technology

  • Fidessa announced that Newedge selected the Fidessa trading platform and order management system for its global derivatives and equity trading business.
  • FXCM Inc. announced the addition of the NinjaTrader trading platform to its suite of platform offerings. Traders can now begin beta testing FXCM’s integration with NinjaTrader for forex trading.
  • Continuum, a division of CQG, today announced its partnership with Quick Screen Trading to provide access to exchanges worldwide, including connectivity to key European and Asian exchanges, through QST Mobile for iPhone and iPad applications. 
  • Rosenthal Collins Group LLC (RCG) announced that, in an effort to further increase transparency for its customers and the public, the firm is providing a daily update on how RCG invests its customers’ funds.  Effective immediately and available prominently at www.RCGdirect.com, the chart describes the allocation of customer segregated funds between the various instruments in which the firm invests.
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