New for traders: Virtu Financial joins Eris Exchange as liquidity provider

New for Traders

Virtu Financial Joins Eris Exchange as a Liquidity Provider

Eris Exchange (Eris), a US-based futures exchange offering capital-efficient Swap Futures, announced that leading global electronic market maker, Virtu Financial (Virtu), is streaming liquidity into Eris SwapBookTM and will be offering two-way voice markets for off-exchange trades for Eris Swap Futures.

Virtu is a leading electronic market maker and liquidity provider across numerous exchanges and electronic marketplaces around the globe. From its offices in New York, Los Angeles, London, Dublin, Sydney and Singapore, Virtu is active in market making in equities, fixed income, currencies, options, energy products, metals and other commodities across all major financial centers.  Since 2002, Virtu's business has grown to comprise significant market share in numerous asset classes around the world, playing a vital role in contributing to the healthy and efficient functioning of global financial markets.

  • TradingScreen launches trading access to Eris Exchange

TradingScreen, the leading independent provider of liquidity, trading, and investment technology via SaaS, today announced the addition of Eris Exchange as a destination. Buy-side trading participants can now access margin efficient Eris Swap Futures traded on Eris SwapBookTM through TradingScreen’s suite of offerings: TradeSmart an award winning EMS, TradeExchange a SaaS Exchange Links offering, and TradeFast® a high speed API through TradeNet, a global network of brokers, liquidity providers and exchanges.

TradingScreen’s broker-neutral approach allows buy-side clients to route orders directly, either through broker FIX infrastructures of their choice or by selecting the “sponsored access” model for electronic execution of Eris Standards Swap Futures. Buy-side clients who prefer the flexibility and choice offered by non-conflicted providers will find this offering a cornerstone of their “best execution” strategy. TradingScreen is the first broker-independent EMS offering Eris products in the market.

  • Trading Technologies Previews New X_TRADER® Functionality and Introduces TT Mobile Trading App at FIA Futures & Options Expo

Trading Technologies International, Inc. (TT), a provider of high-performance professional trading software, today announced it will release new cross-market aggregation and enhanced yield-trading functionality for its flagship X_TRADER product this quarter. The company also has released Android and iOS versions of the TT Mobile trading application for early-stage users of the next-generation TT trading platform.

The new TT Mobile trading apps for Android and iOS allow users of the new TT platform to monitor and trade the markets from a mobile device. Designed especially for high-performance professional traders, the apps provide the ability to:

  • View market data from all TT-supported markets
  • Enter, adjust and cancel native, synthetic and Autospreader orders from an order ticket or MD Trader® ladder
  • Access fills, positions and complete audit trail history back to the day the account was created

The TT Mobile trading apps for Android and iOS are currently available to early-stage users of the next-generation TT trading platform. To apply for access or obtain more information, please visit TT’s website and complete this form:

  • Nomura Joins Trading Technologies’ MultiBroker Platform

Trading Technologies International, Inc. (TT), a provider of high-performance professional trading software, and Nomura, a leading Asia-based financial services group, today announced Nomura is now a participating broker in TT's global MultiBroker service. Customers may select and route orders to Nomura through TT’s high-performance global trading network, which provides direct market access (DMA) to 40 markets across five continents.

With the addition of Nomura, TT’s MultiBroker network now comprises more than 30 sell-side participants, including seven of the top 10 brokers by customer segregated funds.

  • Victor Technologies Introduces Value at Risk as Part of DJALI Risk Platform

Victor Technologies, LLC (VTEK), a financial analytics provider that specializes in risk management and listed derivatives pricing, announced today that it is introducing Value at Risk (VaR) into its DJALI (djah-lee) risk management platform. Current Victor Technologies customers now have access to VaR measurements to comprehensively manage their risk exposure in the equity and equity options markets.

VTEK’s VaR data will be continuously calculated using historical simulation, providing users with the most accurate measures available. Additionally, the VaR report meets the requirements for both regulatory reporting as well as investor reporting. Other features include:

  • The ability to view contribution to VaR by asset as well as overall VaR
  • The ability to view the actual simulated P&L arrays
  • Multiple confidence intervals, horizon days and CVaR
  • Scenarios updated each day
  • On demand, intra-day VaR and incremental VaR

This addition is part of a set of changes going into DJALI 2.0, Victor Technologies’ updated customer platform. DJALI 2.0 is expected to launch during December 2014, and will include the newly introduced VaR calculations, as well as full support for futures-priced Index Options including VIX.

  • Thomas J. O'Brien Lock & Dam closure

The Army Corps of Engineers has announced that the Thomas J. (T.J.) O’Brien Lock & Dam (O’Brien Lock) will be closed from Nov. 3, 2014 to Dec. 19, 2014 (47 Days) and again from Jan. 5, 2015 to Feb. 20, 2015 (47 Days) for maintenance on the lower and upper sector gates.

Navigation Notice (Nov. 3 - Dec. 19)

Nagivation Notice (Jan. 19 - Mar. 6)

Downriver barge shipments of corn, soybeans, oats and wheat from regular facilities in Chicago and Burns Harbor typically traverse the O’Brien Lock. Chicago Board of Trade Rule 703.C.G.(9) specifies contingency barge load-out procedures when a river obstruction affects a majority of upriver regular facilities. Since the two 47-day closings of the O’Brien Lock do not affect a majority of corn, soybean, oat, or wheat regular facilities, the contingencies in Rule 703.C.G.(9) will not apply.

  • Performance Bond Requirements

As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed below.



  • CQG to Offer New Full Service Connectivity to Eris Exchange

CQG Inc. announced its planned connectivity to Eris Exchange, a U.S.-based futures exchange offering capital efficient interest rate swap futures. The new offering will provide CQG customers with access to Eris’ Swap Futures for market data, analytics, and trade execution through an array of CQG trading platforms.

CQG will roll-out access to Eris Exchange through all of its platforms and APIs, facilitating both outright and spread trading.

The connection to Eris Exchange will launch in Q1 of 2015.


  • Covenant Capital Management launches Optimal Fund

Covenant Capital Management recently launched the Optimal Fund, which offers an efficient way to access the company's return stream. The Optimal Fund actively seeks high returns and high volatility.

-Accelerated profit compounding with fixed downside protection
-Best risk adjusted returns over the long term
-Efficient fee structure 

Covenant Capital Management's September’s performance is 84.68% net, and year-to-date performance of 149.97% net.

The CCM Optimal Fund launched February 2014. 

  • CME Inc. Clearing House Changes Collateral Acceptance Program

On Jan. 2, 2015, the CME Inc. Clearing House will institute changes to its collateral acceptance program  which will result in clearing members being charged for the below asset types when posting collateral to meet client and house performance bond requirements.  CME Clearing has decided to charge these fees due to the custody costs applied to CME Clearing by its custodians and liquidity costs associated with recently implemented CFTC clearing house regulations.

CME will impose a fee of 4 basis points (annualized) on certain asset types used to meet client and house performance bond requirements. For clearing members that are eligible to participate in CME Clearing’s committed credit facility (directly or through an affiliate) and do so, CME will impose a reduced fee of 1 basis point (annualized).  For clearing members that are not eligible, and do not have any affiliates that are eligible, to participate in CME Clearing’s committed credit facility, CME will impose a reduced fee of 1 basis point (annualized).

These fees will apply to collateral posted to meet performance bond requirements for both client and house accounts.  No fees will be imposed on collateral in excess of performance bond requirements.

  • Intercontinental Exchange Completes First Phase of the Liffe Transition to ICE Futures Europe

Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, announced that it has successfully completed the transition of the Liffe London soft commodity futures and options contracts to ICE Futures Europe. These products are now listed on the ICE trading platform, which is also home to the ICE Futures U.S. soft commodity futures and options that include Sugar 11, cocoa, coffee, cotton and frozen concentrated orange juice contracts.

This was the first phase of the Liffe transition to the ICE Futures Europe platform and follows the transition of the Liffe U.S. products to the ICE platform in June.

  • Caddo Capital Management and Emerging Edge Group announce partnership

Caddo Capital Management, an alternative asset manager based in the San Francisco Bay Area, and Emerging Edge Group, the early-stage manager specialist based in Chicago, Illinois, are pleased to announce that they have entered into a partnership.

Darren Kottle, founder of Caddo, said: “We are excited to work with Emerging Edge Group.  The team brings experience in building world class asset management firms and their skill set complements our focus on research, portfolio construction and trade execution.”

  • Two Upcoming Courses in Chicago and New York

Derivatives regulatory expert and frequent contributor to MarketsReformWiki Mayra Rodriguez Valladares will be teaching two upcoming courses in Chicago and New York - Life Cycle of a Financial Derivative (Oct. 20-21 Chi and Nov. 3-4 NY) and Derivatives Clearing Organization (Oct. 23-24 Chi and Nov. 5-6 NY). Each course gets you 14 hours of CPE credit. 

  • CFTC Global Markets Advisory Committee to meet in October

The U.S. Commodity Futures Trading Commission (CFTC) announced Thursday that the Global Markets Advisory Committee (GMAC) will hold a public meeting on October 9, 2014 at CFTC’s headquarters in Washington, D.C.

The meeting will focus on issues related to clearing Non-Deliverable Forwards (NDFs) and the digital currency bitcoin. The meeting will consist of two panels. The first will discuss whether a clearing mandate is appropriate for NDFs, with a particular focus on how such a mandate would impact foreign exchange contracts. The second panel will discuss CFTC’s jurisdiction with respect to derivatives contracts that reference the digital currency bitcoin.

The meeting is open to the public with seating on a first-come, first-served basis.  Members of the public may also listen to the meeting via conference call using a domestic toll-free telephone or international toll or toll-free number to connect to a live, listen-only audio feed.  A video recording of the meeting will be made available on the approximately 48 hours after the meeting.  

  • Elliott Wave announces first ever investor open house

For one exciting week -- from noon Eastern time Thursday, Sept. 25, to noon Wednesday, Oct. 1 -- we are throwing open the doors to ALL of our investor services. And it's 100% free! You pay nothing but get everything: from long- to near-term outlook, every major stock index, every major currency relationship, and even precious metals and energy markets, including: DJIA, S&P 500, FTSE, DAX, CAC40, Euro Stoxx 50, Shanghai Composite, HSI, STI, KOSPI, ASX, EUR/USD, USD/CHF, GBP/USD, USD/JPY, AUD/USD, EUR/JPY, EUR/CAD, AUD/JPY, gold, silver, crude oil, natural gas -- the list goes on! Please register for the event now, mark your calendars for Thursday, Sept. 25 - Wednesday, Oct. 1, and stay tuned for important updates and your exclusive links to get started when the event begins.


  • CME releases performance bond requirements

As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed.


  • World Gold Trust Services Appoints William Rhind as CEO

World Gold Trust Services, LLC, a wholly-owned subsidiary of the World Gold Council, has named William Rhind as its Chief Executive Officer. His appointment is with immediate effect and alongside his responsibilities for ETFs, at the World Gold Council. Established in 2004, World Gold Trust Services is sponsor to SPDR Gold Trust, Exchange Traded Fund (ETF) whose shares are traded as SPDR Gold Shares (“GLD”) on the New York Stock Exchange, in addition to exchanges in Singapore, Tokyo, Hong Kong and Mexico.

  • TeraExchange Launches First Regulated Bitcoin Derivatives Trading 

TeraExchange, a swap execution facility registered with the Commodity Futures Trading Commission (“CFTC”), announced that it launched the first regulated platform for bitcoin derivatives and a spot bitcoin price index. The trading of USD/Bitcoin swaps will be subject to the rules and regulations of TeraExchange and the CFTC. The bitcoin derivative and the Tera Bitcoin Price Index were created to meet the growing demand of global merchants, payment processors, miners, and hedge funds for an efficient hedging tool. Institutional market makers have already offered to provide continuous markets over a range of tenors.

  • Japan OTC Exchange granted permission for additional products LNG

Japan OTC Exchange Inc. (JOE) was granted permission for additional products "LNG (liquefied natural gas)" in the Type 1 Facility Similar to Specified Commodity Market by the Ministry of Economy, Trade and Industry. JOE will start the LNG Non-Deliverable Forward trading from September 12.

  • Tokyo Commodity Exchange granted approval to adjust Exchange Rules

The Tokyo Commodity Exchange, Inc. announced today that it was granted an approval from the Ministers of Agriculture, Forestry and Fisheries as well as Economy, Trade and Industry on September 9 to adjust the Exchange Rules and introduce Settlement Price Trading. TOCOM will start accepting applications for Settlement Price Trading on October 6, 2014. This is a new option to transact away from the market allowing all market participants to trade at the settlement price by prior application to the Exchange.

  • Chicago-Kent College of Law hosts the 6th Annual Conference on Futures and Derivatives

Please join us on Friday, October 17, 2014, when Chicago-Kent College of Law hosts the "6th Annual Conference on Futures and Derivatives". This is a full day program covering important topics for compliance officers, regulators, accountants and attorneys who work within the Futures industry.  Attorneys will receive 6 hours of CLE credit including an hour of ethics. Accountants will receive CPE.

  • RJO's Canadian affiliate becomes clearing member of the Montreal exchang

R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, announced that its Canadian affiliate, R.J. O’Brien & Associates Canada Inc. (RJO Canada), has become a clearing member of the Montreal Exchange (MX) as part of the operation’s continued expansion throughout Canada.

Established in 2010, RJO Canada is also a clearing member of Canada’s other major futures exchange, ICE Futures Canada. Since its launch, the RJO affiliate has more than doubled its staff and opened offices in Toronto, Winnipeg and Calgary.


  • Announcing the Options Pro Trading Room webinar

    Date / Time:  09/13/2014 10:00 US/Central

    Description:   Join Randall Liss, Tim Evans, and Jamie Leeney as they discuss what you can 

Sign up here. 


  • Modification of the Variable Tick Range on E-mini NASDAQ 100 & NASDAQ 100 futures

Effective Sunday, Sept. 21 for trade date Monday, Sept. 22, and pending all relevant CFTC regulatory review periods, the Chicago Mercantile Exchange, Inc. (CME or EXCHANGE) will amend the variable tick range for Options on E-mini NASDAQ 100 Index futures and Options on NASDAQ 100 Index futures to 5.00 points from 3.00 points.

Note that the Trading tick remains same, just the premium range is changing from 3 to 5 points.

Click here to read the full advisory.

Oct. 7-8 9:00 a.m.- 5:00 p.m. | NFA, Chicago

This robust educational course provides a strong foundation in the fundamentals of market theory and industry practice. The course, along with the study manuals and test simulator, also helps prepare industry professionals and new hires for the NFA's Series 3 exam.

Course fee includes two textbooks and Series 3 PassMaster - a Web tutorial and exam simulator for candidates studying 

Research and production of the retrospective 500th print issue of Futuresmagazine produced a number of memorable moments. The issue is now live online for free. Check it out today.  

Effective Sunday, September 7, 2014 for trade day Monday, September 8, 2014 and pending all relevant CFTC regulatory review periods, the Chicago Mercantile Exchange Inc. (CME or Exchange) will expand the daily price limits for Live Cattle Futures (Clearing Code = LE, Globex code= LE and Open Outcry code = LC) to $0.050 per pound for the final two (2) trading days of the expiring month contract. 


  • CME Group Margins

Performance Bond Requirements: Crude Oil, Electricity, Metals, Natural Gas, and Refined Products Outrights; ERIS Intra-Commodity Spread Charges; Coal, Crude Oil, Electricity, Equity Index, Metals, Natural Gas, and Refined Products Inter-Commodity Spread Credits- Effective Friday, August 22, 2014.

As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed.

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