Derivs - Clearing and Exchanges

Average pricing on orders executed on electronic trading venues could be the key to opening up a wider migration to central limit order books from the request-for-quote trading protocol, according to investors.

Saro Jahani, ex-chief information officer at stock exchange Direct Edge, has joined trueEX as CIO in a newly created role, based in New York.

FTSE Group has launched an index that captures emerging markets, China A-shares and China N-shares that can be used to underlie structured products and other financial instruments.

The investment that a central counterparty must make in a guarantee fund, also known as skin in the game, does not protect the end client, as larger CCP contributions to default funds increase concentration risk and encourage moral hazard, according to CME Group.

Overall interest rate derivatives trading that was reported to swap data repositories last week decreased by 36% from the previous week, according to data from the International Swaps and Derivatives Association.

Deutsche Börse has listed a new unit class of an actively managed exchange-traded fund issued by UBS which enables investors to participate in the performance of a multi-asset portfolio strategy with a euro currency hedge.

Lawrence Wong, head of listings at the Singapore Exchange, has been appointed as head of the firm’s China business.

Overall interest rate derivatives trading that was reported to swap data repositories last week increased by 59% from the previous week, according to data from the International Swaps and Derivatives Association.

BGC Partners has launched an electronic trading platform for yen interest rate swaps, making it the first interdealer broker to launch a fully electronic platform for such a market.

The Chicago Board Options Exchange is expanding trading hours for CBOE Volatility Index options and S&P 500 options, adding more than six hours of trading per day, five days a week.

Last week, TABB Forum held a conference in New York where senior buysiders, sellsiders, exchanges, clearing houses, lawyers and other market officials met to discuss the trading and regulatory landscape in the fixed income derivatives markets. GlobalCapital reported from the event on hot topics such as liquidity, fragmentation, volatility, Dodd-Frank, trading and execution legislation, and more.

The Chicago Mercantile Exchange (CME) plans to offer multilateral compression services for its clearing members in the first half of 2015 following a rise in popularity of market agreed coupon swaps and increased competition for compression services. Multilateral offerings will complement the services CME currently offers and will provide its members with more independence for maintaining their portfolios, said CME executives.