New for Traders: Horizon creates alternative account for excess cash balances

Managed Funds

  • Horizon Cash Management LLC announced the Emerging Manager Fund Cash Account. Horizon created the account to provide small and emerging fund managers with a safe alternative for cash balances that are in excess of margin requirements.

Financials

  • Credit Suisse announced the launch of two new commodity index ETNs that are listed under the ticker symbols “CSCB” and “CSCR” and began trading on the NYSE ARCA this morning. CSCB is the first exchange traded product in the US market to offer investors access to the Credit Suisse Commodity Benchmark Total Return Index. CSCR is the first exchange traded product in the US market to offer investors exposure to the Credit Suisse Backwardation Total Return Index).
  • NASDAQ OMX Iceland will start three bond indexes based on nominal and inflation-linked benchmark bonds, including the NOMXI benchmark bonds, NOMXI nominal benchmark bonds, and NOMXI inflation-linked bonds, Bloomberg reported.
  • OTC Global Holdings LP formally announced that its subsidiary, EOX Exchange LLC, filed its application with the U.S. Commodity Futures Trading Commission for designation as a contract market.
  • Stockholders from both IntercontinentalExchange (ICE) and NYSE Euronext approved the proposed acquisition of NYSE by ICE.

Options

  • CME will introduce three wheat options contract on its Kansas City Board of Trade (KCBT) hard red winter wheat futures, starting from July 1, pending regulatory approval. The contracts include an option on KCBT hard red winter wheat versus CBOT soft red winter wheat, another option on KBCT wheat versus Minneapolis Grain Exchange hard red spring wheat, as well as weekly KCBT options.

Commodities

  • CME will introduce three wheat options contract on its Kansas City Board of Trade (KCBT) hard red winter wheat futures, starting from July 1, pending regulatory approval. The contracts include an option on KCBT hard red winter wheat versus CBOT soft red winter wheat, another option on KBCT wheat versus Minneapolis Grain Exchange hard red spring wheat, as well as weekly KCBT options.
  • CME Group is exploring the sale of the NYMEX Building, the headquarters to the New York Mercantile Exchange (NYMEX). The 16-story, LEED-certified building is located at One North End Avenue overlooking the Hudson River immediately west of Brookfield Place (formerly the World Financial Center) and Goldman Sachs Tower.

Technology

  • MahiFX has created a new range of platform trade viewing features and options to enable customers to trade more simply and efficiently. The newly designed Position Book/Aggregation button gives traders the option to merge all open positions into easy to monitor book.
  • Object Trading and Dubai Gold and Commodities Exchange announced Object Trading’s flagship direct market access suite FrontRunner is now live with clients connected to DGCX, and is available to provide direct market data and risk-managed trade execution.
  • Markit announced that it has launched Markit ETP Analytics, a comprehensive and independent analytics solution for the global Exchange Traded Products (ETP) market.

Forex

  • SGX launched depository services for yuan-denominated bonds this week, in an effort to support Singapore’s development as an offshore hub for issuers and investors of yuan-denominated bonds.
  • SGX will launch futures in the INR, SGX, AUD and the AUD/JPY cross in 3Q13, Reuters reported. According to SGX head of derivatives Michael Syn, “it’s playing to our natural geographical advantage that most of the key trading heads, the key price-makers and many of the key policymakers are based where we are matching and where we are trading.”
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