The long awaited initial public offering for the BATS stock was price at $19 on April 14. BATS stock opened 20% above its IPO price and settled at $23 on its first day of trading.
CME Group will close its New York trading floor at year-end, subject to CFTC review. All options products listed with and subject to the rules and regulations of NYMEX and COMEX will be available for trading on CME Globe, and for submission for clearing through CME Clear Port. The exchange cited declining open outcry options volume (0.3%) on the New York trading floor for the decision.
CME Group announced that Q1 2016 volume averaged a record 16.9 million contracts per day, up 13% from Q1 2015. CME Group Q1 2016 options volume averaged a record 3.5 million contracts per day, up 22% year-over-year,
with electronic options averaging 1.8 million contracts per day, up 26% during the same period last year.
Dallas-based Coquest Inc. announced that Quantitative Investment Management is the winner of the 2015 Coquest Advisors’ CTA Challenge. QIM’s Global Program finished the year with a 20.82% gain, beating out the 26 CTA programs competing, as well as outperforming the S&P 500 and other key performance indexes in a very tough year for the overall asset management industry. The CTA Challenge is a year-long competition that allows commodity trading advisors to match their trading prowess on a level playing field against other CTAs. It is judged by a combination of risk adjusted return and volatility.
ARB TG announced the launch of its new website arb-tg.com. ARB provides its traders with the latest in trading software, including access to automated and algorithmic trading systems and strategies, as well as a complete hosting solution, low latency connectivity, FIX Access and direct access to data hubs, major derivatives exchanges and OTC markets. The firm’s scalable technology is streamlined to maximize trading in a low latency execution environment.
Delaware Governor Jack Markell announced in April the establishment of the Delaware Blockchain Initiative, a suite of programs that aims to encourage expanded use and development of distributed ledger and smart contract technologies by Delaware-incorporated businesses. Blockchain technology enables a network of users to make and verify transactions instantaneously and without centralized intermediaries. The State of Delaware is working closely with Symbiont to develop the technical aspects of the initiative. Pillsbury Winthrop Shaw Pittman LLP is developing the legal infrastructure.
Activistmonitor announced that the top 20 shareholder activists in North America continue to boost their share of new campaigns. The number of 13Ds filed by the top 20 activists in companies with more than $100 million has shown a steadily increasing trend during the last five years. Activistmonitor is a new platform from the Mergermarket Group for advisors and the investment community comprising predictive intelligence and
behavioral data on shareholder activism.
GreenKey announced that in early May, the firm will launch its newest tool designed to help financial institutions comply with heightened market regulations and improve productivity. GreenKey’s new instant messenger aggregator will provide the ability to retain messages sent over third-party platforms to meet mandatory record-keeping requirements. The tool will make popular platforms such as Yahoo, WhatsApp, WeChat and AOL Instant Messenger acceptable for use by financial market firms. Users of the tool will be able to log into the third-party instant messenger applications from within GreenKey, eliminating those features of the platforms that are non-compliant with financial regulations, such as the ability to delete messages. Instant messaging and chat rooms are part of the oral and written communications systematic record-keeping requirements under CFTC Regulation 1.35(a).
The International Swaps and Derivatives Association Inc. announced the election of 10 directors, including three new additional directors. They are: John Feeney, Head of Pricing and Conduct Coordination, National Australia Bank; Benjamin Jacquard, Global Head of Credit, BNP Paribas; and Hideo Kitano, Managing Director, Head of Credit Trading Department, Head of Global Markets Structuring, Japan, and Deputy Global Head of Structured Fixed Income, Nomura Securities Co. Ltd.