New for Traders: CBOE to extend VIX futures hours

Commodities

  • CME will reduce electronic trading hours in grains starting next week to 17.5 hours from 21 hours. CBOT will now open from 7 p.m. to and close at 1:15 p.m., with a 45 minute break at 7:45 a.m. Both electronic trading and open outcry will restart at 8:30am and close at 1:15 p.m.
  • Neptune Global Holdings LLC has created a new patent pending investment product called the Precious Metals Composite (PMC Ounce).  This offering provides a unit of trade comprised of four fractional components consisting of gold, silver, platinum and palladium.
  • ICE plans to reduce trading hours for soft commodities in order to improve liquidity, and “in recognition that there are periods of time when there are very illiquid hours,” according to ICE Futures COOs Ben Jackson.

Financials

  • CBOE Futures Exchange, LLC announced plans to expand CBOE Volatility Index (VIX index) futures trading hours – currently 7:00 a.m. CT to 3:15 p.m. CT --  in two phases, beginning in May. The first phase of expanded trading hours is designed to meet demand from U.S. customers for a post-settlement trading period. The second phase will allow European-based customers to trade VIX futures during their local trading hours.
  • Nasdaq will launch the Market Quality Program (MQP) in 2Q13. This program is an optional listing program that will allow ETF issuers to contribute funds to the exchange that may be used to pay market makers who improve the liquidity and quality of the markets in the MQP products.

Technology

  • Keyboard Trader now supports trading of futures with CQG Integrated Client. You can also trade spreads, baskets, or a full portfolio by configuring macros to submit orders, price changes, cancels, etc. for multiple independent futures contracts with single key triggers. 
  • TradeStation announced that, beginning April 10, author and educator Larry Williams will join the lineup of speakers hosting its weekly "Futures Market Outlook" webinar series, which offers traders timely commentary on, and analysis of, the futures markets.
  • Germany’s upper house parliament approved regulations to curb HFT in financial markets, although the draft legislation still requires further improvement.

 Regulation

  • CFTC Commissioner Bart Chilton suggested a “bill of rights” for end users in the derivatives markets, including a call for HFT firm registration and conduct rules. According to the Automated Trader, Chilton said that “I believe these principles best protect our consumers and end-users who help move our economy forward – and let’s keep in mind that these end users were not the cause of the financial crisis that led to financial reform.”
  • Germany’s upper house parliament approved regulations to curb HFT in financial markets, although the draft legislation still requires further improvement.
  • Nasdaq’s compensation plan for market makers who had lost money in the Facebook IPO has received SEC approval.

Options

  • CME will offer platinum, palladium and copper floor-traded options in its New York gold and silver pits starting April 1. This move comes after CME added platinum and palladium options onto its Globex electronic platform amidst increasing interest in these contracts.
  • HKEx aims to revamp its stock options market to deal with growing market demand, and the new functionality will be introduced from May 2, the Trade News reported. HKEx’s co-head of global markets Romnesh Lamba stated that “we are revamping our stock options to capture new opportunities created by regulatory changes that have increased demand for exchange-traded derivatives and central counterparty clearing.”

Forex

  • CME Group and MarkitSERV will collaborate to support clearing for regulated OTC FX transactions, which are currently limited to non-deliverable forwards (NDFs). CME’s FX clearing interface will be further improved in May 2013 with clearing support for cash settled forwards (NDFs for G10 currencies).
  • AxiCorp Financial Services Pty launched its AxiTrader USA forex service. The new service is designed to give U.S. clients access to 24-hour trading through the MetaTrader4 platform.

Managed Funds

  • Neptune Global Holdings LLC has created a new patent pending investment product called the Precious Metals Composite (PMC Ounce).  This offering provides a unit of trade comprised of four fractional components consisting of gold, silver, platinum and palladium.
  • Novus Precious Commodities, a managed futures program offered by Novus Investments LLC, announced its ranking of Top Performing Commodity Trading Advisor (CTA) in the United States for the 5 year period of 2008-2012 according to Autumn Gold.
  • Lillian Nicola Asset Management announced the launch of the LNAM Diversified Forex Strategy. The LNAM Diversified Forex strategy is a discretionary, directional trading methodology which enters and disposes of currency pairs within the spot forex market. The intent of the program is to capture price trends lasting anywhere from 2 weeks up to 6 months within these markets.
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