Radar Logic Incorporated (www.radarlogic.com) announced today that it has signed a license agreement with Barclays Capital, its seventh licensing agreement with Wall Street firms. These agreements enable the initiation of trading in derivative instruments and financial products based on Radar Logic's Residential Property Index™, or RPX™. The RPX enables users to trade residential property prices in 25 MSAs nationwide in addition to a composite index based on those 25 cities.
"We are very pleased to have Barclays Capital join our existing dealer group as interest and activity in RPX as an asset class continues to grow globally," said Michael Feder, CEO of Radar Logic. "Barclays Capital is an outstanding institution and we welcome them to this exciting product."
Radar Logic uses innovative, proprietary modeling techniques to create Daily Prices derived from the actual prices paid for U.S. residential real estate. Investment and derivative opportunities based on these prices, in the RPX, are expected to surpass $2 billion in volume traded by the end of the year.
Showing posts with label derivatives trading. Show all posts
Showing posts with label derivatives trading. Show all posts
Tuesday, 28 October 2008
Thursday, 2 October 2008
The Clearing Corporation
The Clearing Corporation provides clearing services for global exchange and over-the-counter (OTC) traded derivatives. As an independent derivatives clearinghouse, The Clearing Corporation is in a unique position to provide innovative and customer-focused OTC and exchange-traded derivatives clearing services. The Clearing Corporation is a stockholder-owned, Delaware corporation, now in its 83rd year of business and serves numerous clients in a variety of markets. Additional information on The Clearing Corporation is available at www.clearingcorp.com.
Friday, 26 September 2008
IDX Comment on Derivative Reform
IDX Capital, an interdealer broker of credit default swaps, issued the following statement on the current debate to institute certain reforms to the credit default swap (CDS) market.
Jamie Cawley, CEO of IDX Capital, stated, "IDX stands ready to fully embrace any market led effort that would result in greater liquidity, enhanced stability and increased trading transparency in the credit derivative marketplace. To achieve this goal, IDX supports live screens, centralized clearing and thoroughly crafted regulatory policies.
Live screens and real-time pricing would bring immediate benefits to the New York CDS marketplace. They deliver unparalleled transparency as prices and trades can be disseminated instantly and equally to all market participants. In addition, they ensure client confidentiality, fair dealing and optimal execution as 'one size fits all.'
By eradicating trade 'double entry,' live screens also streamline and automate the settlement of trades, an issue that has until recently plagued our market and hampered its evolution."
In a Greenwich Associates study conducted in August, over 75% of institutional respondents agreed that the counterparty risk issue in the credit default swap market is the single largest threat to the stability of global financial markets. Recent events and the current financial crisis would certainly support this belief.
In response, IDX Capital stands ready to embrace and work with any inclusive and properly capitalized CDS central clearing initiative that mitigates counterparty risk and better facilitates market liquidity.
Mr. Cawley concluded, "Our market must accept regulation. Well thought out and mitered regulation can only further legitimize our market, ensure fair dealing and help us to deliver greater transparency. IDX Capital stands ready to proactively work with regulatory entities in this country and others, trade associations, and market participants to ensure that any such regulatory proposal both properly balances the market need with the public good."
Jamie Cawley, CEO of IDX Capital, stated, "IDX stands ready to fully embrace any market led effort that would result in greater liquidity, enhanced stability and increased trading transparency in the credit derivative marketplace. To achieve this goal, IDX supports live screens, centralized clearing and thoroughly crafted regulatory policies.
Live screens and real-time pricing would bring immediate benefits to the New York CDS marketplace. They deliver unparalleled transparency as prices and trades can be disseminated instantly and equally to all market participants. In addition, they ensure client confidentiality, fair dealing and optimal execution as 'one size fits all.'
By eradicating trade 'double entry,' live screens also streamline and automate the settlement of trades, an issue that has until recently plagued our market and hampered its evolution."
In a Greenwich Associates study conducted in August, over 75% of institutional respondents agreed that the counterparty risk issue in the credit default swap market is the single largest threat to the stability of global financial markets. Recent events and the current financial crisis would certainly support this belief.
In response, IDX Capital stands ready to embrace and work with any inclusive and properly capitalized CDS central clearing initiative that mitigates counterparty risk and better facilitates market liquidity.
Mr. Cawley concluded, "Our market must accept regulation. Well thought out and mitered regulation can only further legitimize our market, ensure fair dealing and help us to deliver greater transparency. IDX Capital stands ready to proactively work with regulatory entities in this country and others, trade associations, and market participants to ensure that any such regulatory proposal both properly balances the market need with the public good."
Wednesday, 17 September 2008
CME Statement on AIG
"CME Group took an emergency action today to facilitate the reduction of the positions of American International Group, Inc. (AIG) and its subsidiaries and to protect the orderly functioning of the market. The agreed-upon order permits the limited execution of block trades by AIG in certain CME and CBOT commodity futures products, including Soybeans, Soybean Oil, Corn, Wheat, Live Cattle and Lean Hogs, for the purpose of liquidating a portion of AIG's open positions. A block trade is a privately negotiated transaction between eligible contract participants that is executed outside of the public auction market. The order is effective through Wednesday, September 17, 2008."
Wednesday, 10 September 2008
RTS Realtime System Connectivity to FEX
RTS Realtime Systems Group, has committed to provide connectivity to the Financial & Energy Exchange (FEX).
The Financial & Energy Exchange (FEX) is building a world class exchange platform, focused on developing a suite of services for the Asian derivative markets. The benchmark FEX products will include traditional Asian energy products such as crude oil and thermal coal.
The offering will also extend to emerging energy and environmental products to help service existing and new liquidity pools. The FEX exchange traded futures market will utilise OMX technology, the premium matching engine technology supplier to world exchanges. The Clearing Corporation of Chicago, the world's largest independent clearing house, will provide clearing services.
Henk Huitema, Managing Director, Asia Pacific for RTS, said: "RTS is pleased to provide access to a new trading venue. Our ongoing connectivity enhancements offer our customers the ability to continually tap into new trading opportunities throughout the world as they develop.”
Tom Price, Executive Director, FEX, said: “Our decision to partner with RTS was an logical one given RTS’s global connectivity. RTS meets FEX’s stringent infrastructure support requirements in a professional and responsive manner. We look forward to a valuable partnership.”
RTS offers access through its Realtime Trading Desktop (RTD) portfolio, including its RTD-API’s, the RTD front-end trading system, and RTD Tango, its high performance automated algorithmic trading solution.
Additionally, RTS will be providing direct market access to the new marketplace in its data centre and hosting facilities across the world.
The Financial & Energy Exchange (FEX) is building a world class exchange platform, focused on developing a suite of services for the Asian derivative markets. The benchmark FEX products will include traditional Asian energy products such as crude oil and thermal coal.
The offering will also extend to emerging energy and environmental products to help service existing and new liquidity pools. The FEX exchange traded futures market will utilise OMX technology, the premium matching engine technology supplier to world exchanges. The Clearing Corporation of Chicago, the world's largest independent clearing house, will provide clearing services.
Henk Huitema, Managing Director, Asia Pacific for RTS, said: "RTS is pleased to provide access to a new trading venue. Our ongoing connectivity enhancements offer our customers the ability to continually tap into new trading opportunities throughout the world as they develop.”
Tom Price, Executive Director, FEX, said: “Our decision to partner with RTS was an logical one given RTS’s global connectivity. RTS meets FEX’s stringent infrastructure support requirements in a professional and responsive manner. We look forward to a valuable partnership.”
RTS offers access through its Realtime Trading Desktop (RTD) portfolio, including its RTD-API’s, the RTD front-end trading system, and RTD Tango, its high performance automated algorithmic trading solution.
Additionally, RTS will be providing direct market access to the new marketplace in its data centre and hosting facilities across the world.
Tuesday, 9 September 2008
ICE Announces Results Date
IntercontinentalExchange (NYSE: ICE) , an operator of regulated global derivatives exchanges and over-the-counter (OTC) markets, will announce third quarter 2008 financial results on Thursday, October 30, 2008. An earnings press release will be issued prior to the earnings conference call, which will begin at 8:30 a.m. ET.
A live audio webcast of the earnings call will be available on the company's website at www.theice.com under About ICE/Investors & Media. Participants may also listen via telephone by dialing (877) 795-3646 if calling from the United States, or (719) 325-4774 if dialing from outside of the United States. For participants on the telephone, please place your call ten minutes prior to the start of the call.
The webcast will be archived on the company's website for replay. A telephone replay of the earnings call will also be available at (888) 203-1112 for callers within the United States and at (719) 457-0820 for callers outside of the United States. The passcode for the replay is 5433981.
A live audio webcast of the earnings call will be available on the company's website at www.theice.com under About ICE/Investors & Media. Participants may also listen via telephone by dialing (877) 795-3646 if calling from the United States, or (719) 325-4774 if dialing from outside of the United States. For participants on the telephone, please place your call ten minutes prior to the start of the call.
The webcast will be archived on the company's website for replay. A telephone replay of the earnings call will also be available at (888) 203-1112 for callers within the United States and at (719) 457-0820 for callers outside of the United States. The passcode for the replay is 5433981.
Friday, 22 August 2008
Derivatives - C
Call
An option contract giving the holder the right to buy the underlying security at a specified price for a certain, fixed period of time.
Capped-Style Option
Option with an established profit cap. The cap price is equal to the option's strike price plus a cap interval for a call option or the strike price minus a cap interval for a put option. Exercised automatically when the underlying security closes above or below the cap price, depending on whether it is a call or a put.
CEO
Chief Executive Officer
CFO
Chief Financial Officer
Chi-X
Multilateral trading facility developed following MiFid. Majority owned by Instinet Europe
CII
Council of Institutional Investors
CIO
Chief Investment Officer
Close
End of trading session period. Also called the Closing Range. The official close is designated as the high and low prices or bids and offers recorded during the period.
Closing Purchase
Transaction entered into to reduce or eliminate a short position in a given series of options.
Commission
One off fee brokerage fee to a customer when a futures or options on futures position is liquidated either by offset or delivery.
Contract
1) Unit of trading for a financial or commodity future.
2) Bilateral agreement between buyer and seller (parties) of a futures or options on futures transaction. Defined by the exchange.
Contract Month
The month in which futures contracts may be satisfied by making or accepting delivery.
Covered Call Option Writing
Trading strategy involving simultaneously selling call options and owning an equivalent position in the underlying security. The reverse is to sells a put option and shorting the underlying security.
An option contract giving the holder the right to buy the underlying security at a specified price for a certain, fixed period of time.
Capped-Style Option
Option with an established profit cap. The cap price is equal to the option's strike price plus a cap interval for a call option or the strike price minus a cap interval for a put option. Exercised automatically when the underlying security closes above or below the cap price, depending on whether it is a call or a put.
CEO
Chief Executive Officer
CFO
Chief Financial Officer
Chi-X
Multilateral trading facility developed following MiFid. Majority owned by Instinet Europe
CII
Council of Institutional Investors
CIO
Chief Investment Officer
Close
End of trading session period. Also called the Closing Range. The official close is designated as the high and low prices or bids and offers recorded during the period.
Closing Purchase
Transaction entered into to reduce or eliminate a short position in a given series of options.
Commission
One off fee brokerage fee to a customer when a futures or options on futures position is liquidated either by offset or delivery.
Contract
1) Unit of trading for a financial or commodity future.
2) Bilateral agreement between buyer and seller (parties) of a futures or options on futures transaction. Defined by the exchange.
Contract Month
The month in which futures contracts may be satisfied by making or accepting delivery.
Covered Call Option Writing
Trading strategy involving simultaneously selling call options and owning an equivalent position in the underlying security. The reverse is to sells a put option and shorting the underlying security.
Derivatives D - I
Day Order
Order placed for execution within one trading session. Automatically cancelled if it can not be executed within the day.
Day Trading
Within one day establishing and liquidating the same position or positions. No positions should be established at the days end.
Deferred
Back Months
Delivery
Tender and receipt of an actual commodity or financial instrument, or cash in settlement of a futures contract.
Derivative Security
Financial security whose value is determined in part from an another security's (the underlying security) value and characteristic.
Direct Edge
US-based multilateral trading faciltiy or trading platform.
Equiduct
Multilateral trading facility majority owned by Borse Berlin and Burgundy. Nordic equities markets are the main target.
ETF
Exchange-Traded Fund
European Multilateral Clearing Facility
Clearing unit set up by Fortis for European alternative trading systems.
European-style Options
Option contracts that can only be exercised during a specified period of time just prior to their expiration.
Exercise Settlement Amount
Difference between the exercise price of the option and the exercise settlement value of the index on the day an exercise notice is tendered , multiplied by the index multiplier.
Expiration Cycle
The dates on which options on an underlying security expire. A given option is assigned to one of three cycles, January, February or March.
Expiration Date
Date on which an option and the right to exercise it, cease to exist.
FASAC
Financial Accounting Standards Advisory Council
FinAnalytica
Vendor of portfolio construction and risk management analytics
Financial Supervisory Commission
Taiwan: financial regulator
Floor Broker
Licensed member of an Exchange, who is paid a fee for executing orders for Clearing Members or their customers.
Floor Trader
Also known as a "local". Exchange member who only trades for his own account.
Futures
All contracts covering purchase and sale of financial instruments or physical commodities for future delivery on a commodity futures exchange.
Futures Commission Agent
Engages in soliciting or accepting handling orders for the purchase or sale of futures contracts , subject to the rules of a futures exchange and, who, in connection with solicitation or acceptance or orders, accepts any money or securities to margin any resulting trades or contracts. Can be a firm or person.
Grant Date
Stock Options:- "The date at which an employer and an employee reach a mutual understanding of the key terms and conditions of a share-based payment award." Defined in SFAS No 123 (Revised 2004) (123R)
Holder
Purchaser of an option
IFRS
International Financial Reporting Standards
IFRS 3
Accounting standard for "business combinations" or Merger and Acquisitions transactions. First standard written jointly by International Accounting Standards Board and the U.S. Financial Accounting Standards Board.
In-the-money
Occurs if the strike price of a call option is less than the market price of the underlying security. For put options the strike price has to be higher than the market price of the underlying security for it to be in-the money.
Intrinsic Value
Amount by which an option is in-the-money.
ISDA
International Swaps and Derivatives Association
iTraxx Crossover Index
Tracks the cost of insuring the debt of mostly junk-rated European companies.
Order placed for execution within one trading session. Automatically cancelled if it can not be executed within the day.
Day Trading
Within one day establishing and liquidating the same position or positions. No positions should be established at the days end.
Deferred
Back Months
Delivery
Tender and receipt of an actual commodity or financial instrument, or cash in settlement of a futures contract.
Derivative Security
Financial security whose value is determined in part from an another security's (the underlying security) value and characteristic.
Direct Edge
US-based multilateral trading faciltiy or trading platform.
Equiduct
Multilateral trading facility majority owned by Borse Berlin and Burgundy. Nordic equities markets are the main target.
ETF
Exchange-Traded Fund
European Multilateral Clearing Facility
Clearing unit set up by Fortis for European alternative trading systems.
European-style Options
Option contracts that can only be exercised during a specified period of time just prior to their expiration.
Exercise Settlement Amount
Difference between the exercise price of the option and the exercise settlement value of the index on the day an exercise notice is tendered , multiplied by the index multiplier.
Expiration Cycle
The dates on which options on an underlying security expire. A given option is assigned to one of three cycles, January, February or March.
Expiration Date
Date on which an option and the right to exercise it, cease to exist.
FASAC
Financial Accounting Standards Advisory Council
FinAnalytica
Vendor of portfolio construction and risk management analytics
Financial Supervisory Commission
Taiwan: financial regulator
Floor Broker
Licensed member of an Exchange, who is paid a fee for executing orders for Clearing Members or their customers.
Floor Trader
Also known as a "local". Exchange member who only trades for his own account.
Futures
All contracts covering purchase and sale of financial instruments or physical commodities for future delivery on a commodity futures exchange.
Futures Commission Agent
Engages in soliciting or accepting handling orders for the purchase or sale of futures contracts , subject to the rules of a futures exchange and, who, in connection with solicitation or acceptance or orders, accepts any money or securities to margin any resulting trades or contracts. Can be a firm or person.
Grant Date
Stock Options:- "The date at which an employer and an employee reach a mutual understanding of the key terms and conditions of a share-based payment award." Defined in SFAS No 123 (Revised 2004) (123R)
Holder
Purchaser of an option
IFRS
International Financial Reporting Standards
IFRS 3
Accounting standard for "business combinations" or Merger and Acquisitions transactions. First standard written jointly by International Accounting Standards Board and the U.S. Financial Accounting Standards Board.
In-the-money
Occurs if the strike price of a call option is less than the market price of the underlying security. For put options the strike price has to be higher than the market price of the underlying security for it to be in-the money.
Intrinsic Value
Amount by which an option is in-the-money.
ISDA
International Swaps and Derivatives Association
iTraxx Crossover Index
Tracks the cost of insuring the debt of mostly junk-rated European companies.
Derivatives J - S
KKR
Kohlberg Kravis Roberts
LEAPS
Long-Term Equity Anticipation Securities
Limit Order
Order from a customer to a broker specifying a price; only if the if the market reaches or betters the price can the order be executed.
Liquidation
Transaction offsetting or closing out a long or short futures or options position.
Long Hedge
Purchase of a futures contract in anticipation of an actual purchase in the cash market.
Long Position
An investor holds more contracts than he has sold.
LTCM
Long Term Capital Management
Margin Requirement for Options
Amount an uncovered (naked) option writer is required to deposit and maintain to cover a position. Calculated
Market Order
Order for immediate execution given to a broker to buy or sell at the best obtainable price.
Mark-To-Market
Daily adjustment of margin accounts to reflect profit and loss.
Minimum Price Fluctuation
Smallest increment of price movement possible in trading a given contract. It is also referred to as "lead month".
MTF
Multilateral Trading Facility
Nasdaq OMX Europe
Pan Euopean Multilateral Trading Facility (MTF) backed by Nasdaq OMX
Nearby
Nearest active trading month of a futures or options on futures contract.
Offer
Price at which an investor is willing to sell a futures or options contract. Offset buying if one has sold, or selling if one has bought, a futures or options on futures contract.
PEX
Small multilateral trading platform for the Portugese market.
Prime Broker
Institution, usually an investment bank that offering a variety of services to hedge funds or other institutions.
Prime Brokerage
Bundle of services offered by an investment bank to large institutional clients or hedge funds. It is possible for a firm to have more than one prime broker. The firm is not obligated to put all of its business through the prime broker. The variety of services include, but is not limited to execution of trades, settlement, financing and custody.
Private Equity Intelligence
Research group specialising in the private equity arena.
Quantifi
provider of analytics and risk management solutions for the global credit markets.
REITS
Real-Estate Investment Trusts
Repo
The practice of loaning out shares in return for cash.
Risk Assessment
One of five components of internal control according to the COSO Internal Control Framework
Risks faced by the company have to be recognized. Objectives have to be set, integrated into the value-chain. To achieve the objectives, risks have to be identified, analyzed and develop methods to manage them.
SEC
Securities and Exchange Commission.
SOX
Shorthand for Sarbanes-Oxley.
Structured Notes
Derivatives-linked bonds designed to deliver high returns over a fixed period.
Synthetic Collateralised Debt Obligations
Repackaged portfolios of credit derivatives.
Kohlberg Kravis Roberts
LEAPS
Long-Term Equity Anticipation Securities
Limit Order
Order from a customer to a broker specifying a price; only if the if the market reaches or betters the price can the order be executed.
Liquidation
Transaction offsetting or closing out a long or short futures or options position.
Long Hedge
Purchase of a futures contract in anticipation of an actual purchase in the cash market.
Long Position
An investor holds more contracts than he has sold.
LTCM
Long Term Capital Management
Margin Requirement for Options
Amount an uncovered (naked) option writer is required to deposit and maintain to cover a position. Calculated
Market Order
Order for immediate execution given to a broker to buy or sell at the best obtainable price.
Mark-To-Market
Daily adjustment of margin accounts to reflect profit and loss.
Minimum Price Fluctuation
Smallest increment of price movement possible in trading a given contract. It is also referred to as "lead month".
MTF
Multilateral Trading Facility
Nasdaq OMX Europe
Pan Euopean Multilateral Trading Facility (MTF) backed by Nasdaq OMX
Nearby
Nearest active trading month of a futures or options on futures contract.
Offer
Price at which an investor is willing to sell a futures or options contract. Offset buying if one has sold, or selling if one has bought, a futures or options on futures contract.
PEX
Small multilateral trading platform for the Portugese market.
Prime Broker
Institution, usually an investment bank that offering a variety of services to hedge funds or other institutions.
Prime Brokerage
Bundle of services offered by an investment bank to large institutional clients or hedge funds. It is possible for a firm to have more than one prime broker. The firm is not obligated to put all of its business through the prime broker. The variety of services include, but is not limited to execution of trades, settlement, financing and custody.
Private Equity Intelligence
Research group specialising in the private equity arena.
Quantifi
provider of analytics and risk management solutions for the global credit markets.
REITS
Real-Estate Investment Trusts
Repo
The practice of loaning out shares in return for cash.
Risk Assessment
One of five components of internal control according to the COSO Internal Control Framework
Risks faced by the company have to be recognized. Objectives have to be set, integrated into the value-chain. To achieve the objectives, risks have to be identified, analyzed and develop methods to manage them.
SEC
Securities and Exchange Commission.
SOX
Shorthand for Sarbanes-Oxley.
Structured Notes
Derivatives-linked bonds designed to deliver high returns over a fixed period.
Synthetic Collateralised Debt Obligations
Repackaged portfolios of credit derivatives.
Derivatives - T
Terra Firma
UK private equity firm.
TOCOM
Tokyo Commodity Exchange
Trichet, Jean-Claude
President of the European Central Bank
TSE
Tokyo Stock Exchange
Turquoise
Alternative trading platform in dark liquidity. Developed following MiFiD. Founder banks are : BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley, Société Générale.
UK private equity firm.
TOCOM
Tokyo Commodity Exchange
Trichet, Jean-Claude
President of the European Central Bank
TSE
Tokyo Stock Exchange
Turquoise
Alternative trading platform in dark liquidity. Developed following MiFiD. Founder banks are : BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley, Société Générale.
Derivatives - A
ABCDS
A credit default swap based on an Asset-Backed Security itself based on relatively risky home equity loans (U.S.) In effect a type of insurance against default on the underlying ABS.
ABCP
Taiwan: Asset-Backed Commercial Paper
ABI
Association of British Insurers
Alpha
Hedge Funds: the incremental return above the market that a manager generates.
American-Style Option
Option contract which can be excercised at any time between the purchase date and the expiration date. Most commonly exchange-traded option in the U.S.
Arbitrage
Simultaneous sale and purchase of identical or equivalent financial instruments or commodity futures to benefit from a discrepancy in their prices.
Assignment
Receipt of an exercise notice by an option writer (seller) that obligates him to sell (in the case of a call) or purchase (in the case of a put) the underlying security at the specified strike price.
At-the-money
Occurs if the strike price of the option is equal to the market price of underlying security.
A credit default swap based on an Asset-Backed Security itself based on relatively risky home equity loans (U.S.) In effect a type of insurance against default on the underlying ABS.
ABCP
Taiwan: Asset-Backed Commercial Paper
ABI
Association of British Insurers
Alpha
Hedge Funds: the incremental return above the market that a manager generates.
American-Style Option
Option contract which can be excercised at any time between the purchase date and the expiration date. Most commonly exchange-traded option in the U.S.
Arbitrage
Simultaneous sale and purchase of identical or equivalent financial instruments or commodity futures to benefit from a discrepancy in their prices.
Assignment
Receipt of an exercise notice by an option writer (seller) that obligates him to sell (in the case of a call) or purchase (in the case of a put) the underlying security at the specified strike price.
At-the-money
Occurs if the strike price of the option is equal to the market price of underlying security.
Monday, 23 June 2008
SuperDerivatives
SuperDerivatives®, the benchmark for derivatives pricing and the leading provider of multi-asset front-office systems, risk management, revaluation and online options trading solutions, today launched the next generation of its trading platform for the foreign exchange (FX) market.
Answering the growing market demand from the buy side and sell side for greater FX derivatives complexity and more efficient workflows, the next generation platform integrates pricing discovery, marketing, reporting and on-line execution.
Market professionals using SuperDerivatives’ next generation FX platform in their growth strategy can now trade high margin, exotic structures - including those featuring 4th generation exotics - as easily and efficiently as vanilla FX options.
As is the case with all SuperDerivatives platforms, the next generation FX is web-based and operates in real-time for immediate implementation and scalability. It can easily integrate into any information and trading architecture, connecting various trading and sales desks, and interfacing with middle and back office systems seamlessly and efficiently - linking banks to their clients, reducing operational risk and facilitating faster trading.
SuperDerivatives’ next generation enhancements apply to practically all types of FX instruments, from spot and forwards right through to higher yield 3rd and 4th generation options and correlation structures including cross asset barriers, dual digitals and path dependent baskets. The platform coverage spans over 150 different instrument types on over 100 currency pairs, connecting a diverse community of counterparties across both developed and emerging markets.
“The FX derivatives market has evolved rapidly, while vanilla and first generation exotics have been commoditized and standardized, with corresponding shrinking margins. This year alone, over 10 new exotic structures were added to the market and have become popular,” said David Gershon, Chief Executive Officer, SuperDerivatives. “FX professionals are now looking for the ability to offer their clients the next generation of exotic FX options. We believe that our FX next generation functionality will further increase the volume of derivatives traded and contribute to the evolution of the market, acting as a catalyst for sustained growth.”
SuperDerivatives next generation FX highlights include:
Support for a wide array of FX options from vanillas to 4th generation exotics including multi-leg structures and correlation products such as path dependent basket structures, quanto options, cross-asset barriers and dual euro digitals
Sophisticated tools for structuring, marketing, branding & distribution - essential for dramatically improving sales desk productivity
Online execution and Request for Quote (RFQ) utility connect sales and trading desks together – and with clients - seamlessly and efficiently
Proprietary ‘Looking For Strategy’ solver, multi-language customizable Trade Idea Generator and Term Sheet Generator applications which produce professional, tailored proposals efficiently across a range of exotic and vanilla FX options
Reporting module provides multi-asset Value at Risk reports (VAR) plus reports for Net Asset Value (NAV), Portfolio Profit and Loss (P&L),and sensitivity spot-volatility which allows sales staff to easily provide value-add services to their clients
Online execution and improved post-trade portfolio management deliver deal capture, with an online blotter to capture all client deals and automated deal event management.
The next generation of SuperDerivatives FX is available immediately.
Answering the growing market demand from the buy side and sell side for greater FX derivatives complexity and more efficient workflows, the next generation platform integrates pricing discovery, marketing, reporting and on-line execution.
Market professionals using SuperDerivatives’ next generation FX platform in their growth strategy can now trade high margin, exotic structures - including those featuring 4th generation exotics - as easily and efficiently as vanilla FX options.
As is the case with all SuperDerivatives platforms, the next generation FX is web-based and operates in real-time for immediate implementation and scalability. It can easily integrate into any information and trading architecture, connecting various trading and sales desks, and interfacing with middle and back office systems seamlessly and efficiently - linking banks to their clients, reducing operational risk and facilitating faster trading.
SuperDerivatives’ next generation enhancements apply to practically all types of FX instruments, from spot and forwards right through to higher yield 3rd and 4th generation options and correlation structures including cross asset barriers, dual digitals and path dependent baskets. The platform coverage spans over 150 different instrument types on over 100 currency pairs, connecting a diverse community of counterparties across both developed and emerging markets.
“The FX derivatives market has evolved rapidly, while vanilla and first generation exotics have been commoditized and standardized, with corresponding shrinking margins. This year alone, over 10 new exotic structures were added to the market and have become popular,” said David Gershon, Chief Executive Officer, SuperDerivatives. “FX professionals are now looking for the ability to offer their clients the next generation of exotic FX options. We believe that our FX next generation functionality will further increase the volume of derivatives traded and contribute to the evolution of the market, acting as a catalyst for sustained growth.”
SuperDerivatives next generation FX highlights include:
Support for a wide array of FX options from vanillas to 4th generation exotics including multi-leg structures and correlation products such as path dependent basket structures, quanto options, cross-asset barriers and dual euro digitals
Sophisticated tools for structuring, marketing, branding & distribution - essential for dramatically improving sales desk productivity
Online execution and Request for Quote (RFQ) utility connect sales and trading desks together – and with clients - seamlessly and efficiently
Proprietary ‘Looking For Strategy’ solver, multi-language customizable Trade Idea Generator and Term Sheet Generator applications which produce professional, tailored proposals efficiently across a range of exotic and vanilla FX options
Reporting module provides multi-asset Value at Risk reports (VAR) plus reports for Net Asset Value (NAV), Portfolio Profit and Loss (P&L),and sensitivity spot-volatility which allows sales staff to easily provide value-add services to their clients
Online execution and improved post-trade portfolio management deliver deal capture, with an online blotter to capture all client deals and automated deal event management.
The next generation of SuperDerivatives FX is available immediately.
Friday, 4 April 2008
Carne Global Launches Alternative Investments
Carne Global Financial Services Group (“Carne Global”) – the leading independent advisor to the European hedge fund and traditional fund management industries – today announces the opening of its Alternative Investment and Wealth Management Technology and Operational Consultancy divisions in London and the recruitment of senior industry figures Sunil Chadda and Phil Kitto to lead them respectively.
These divisions add technology capabilities to Carne Global’s existing operational services. The divisions will capitalise on Carne Global’s long established presence within the fund management industry, and build on its strong track record in providing tailored solutions, services and products for alternative asset managers and service providers.
Sunil Chadda joins Carne Global as Head of Alternative Investments where his focus will primarily be on developing and driving the firm’s alternative investment technology and operational offerings to alternatives players such as hedge funds, fund of hedge funds, fund administrators, prime brokers, and private equity managers.
Sunil joins from Citisoft, a London-based financial systems consultancy, where he held the position of Head of the Hedge Funds and Derivatives Practice for the last three years. Prior to Citisoft, Mr Chadda had a 15 year career with Schroder Investment Management, where he led the Fixed Income Fund Management Desk IT team. Mr Chadda has in-depth knowledge of financial markets, the software landscape, systems evaluation and implementation and operational procedures and controls, having worked in UK financial services for nearly 22 years.
Phil Kitto joins Carne Global from Citisoft, a London-based financial systems consultancy, to lead the new Global Wealth Management and Private Client division. His focus will primarily be on the development of the firm’s capabilities with regard to technology and operational offerings of wealth managers and private banks, outsource providers and software vendors.
Mr Kitto has in-depth understanding of financial markets, the software landscape, systems evaluation, platform implementation and operational procedures and controls accumulated with UBS, Baring Asset Management and MAM over a career in financial services of nearly 22 years.
Mr Chadda and Mr Kitto join Aymeric Lechartier, who was appointed by Carne Global earlier this year as Head of Business Development in London, formerly of Merrill Lynch.
The creation of the Alternative Investment and Wealth Management Technology and Operational Consultancy divisions marks another major milestone in the rapid growth of Carne Global, which now advises over 100 clients with assets under supervision of over US$200 billion, and has a staff of over 40 based in Dublin, London and Luxembourg.
Carne Global offers expertise in fund establishment, directorship programmes and comprehensive services to support managers in the operations and compliance of their products, which will be in greater demand as changes in regulation and national tax laws take effect.
John Donohoe, CEO of Carne Global, commented: “The entire fund management industry - both traditional and alternative - is experiencing high demand for expertise in risk management and technology, particularly with the convergence of those industries with wealth management. We are fortunate to be able to meet this demand with the addition of such highly respected industry figures as Phil Kitto and Sunil Chadda.”
These divisions add technology capabilities to Carne Global’s existing operational services. The divisions will capitalise on Carne Global’s long established presence within the fund management industry, and build on its strong track record in providing tailored solutions, services and products for alternative asset managers and service providers.
Sunil Chadda joins Carne Global as Head of Alternative Investments where his focus will primarily be on developing and driving the firm’s alternative investment technology and operational offerings to alternatives players such as hedge funds, fund of hedge funds, fund administrators, prime brokers, and private equity managers.
Sunil joins from Citisoft, a London-based financial systems consultancy, where he held the position of Head of the Hedge Funds and Derivatives Practice for the last three years. Prior to Citisoft, Mr Chadda had a 15 year career with Schroder Investment Management, where he led the Fixed Income Fund Management Desk IT team. Mr Chadda has in-depth knowledge of financial markets, the software landscape, systems evaluation and implementation and operational procedures and controls, having worked in UK financial services for nearly 22 years.
Phil Kitto joins Carne Global from Citisoft, a London-based financial systems consultancy, to lead the new Global Wealth Management and Private Client division. His focus will primarily be on the development of the firm’s capabilities with regard to technology and operational offerings of wealth managers and private banks, outsource providers and software vendors.
Mr Kitto has in-depth understanding of financial markets, the software landscape, systems evaluation, platform implementation and operational procedures and controls accumulated with UBS, Baring Asset Management and MAM over a career in financial services of nearly 22 years.
Mr Chadda and Mr Kitto join Aymeric Lechartier, who was appointed by Carne Global earlier this year as Head of Business Development in London, formerly of Merrill Lynch.
The creation of the Alternative Investment and Wealth Management Technology and Operational Consultancy divisions marks another major milestone in the rapid growth of Carne Global, which now advises over 100 clients with assets under supervision of over US$200 billion, and has a staff of over 40 based in Dublin, London and Luxembourg.
Carne Global offers expertise in fund establishment, directorship programmes and comprehensive services to support managers in the operations and compliance of their products, which will be in greater demand as changes in regulation and national tax laws take effect.
John Donohoe, CEO of Carne Global, commented: “The entire fund management industry - both traditional and alternative - is experiencing high demand for expertise in risk management and technology, particularly with the convergence of those industries with wealth management. We are fortunate to be able to meet this demand with the addition of such highly respected industry figures as Phil Kitto and Sunil Chadda.”
Monday, 31 March 2008
ORC Software Opens Chicago Development
Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced that it has opened a new development center in Chicago, Illinois. The new development center adds to Orc’s extensive list of development centers located around the world including centers in major financial capitals such as London, New York, Toronto, Stockholm, Moscow, Hong Kong, and Sydney.
“Chicago is at the center of global derivatives trading and has one of the most talented and diverse workforces in the world, making it an ideal location for Orc Software to cultivate a strong development team,” said Rita Athas, executive director of World Business Chicago. “We are pleased to add Orc to an impressive group of tech companies that prosper in Chicago.”
“Chicago is a vibrant and growing market for us,” said Hugh Stables, VP of Engineering for Orc Software. “Opening a development center in Chicago will help us better serve the needs of our customers and expand our capability to develop world-class derivatives trading and connectivity solutions. In addition, with the wealth of knowledge and expertise in the Chicago region, we expect to find outstanding employees to join our team and make Orc Software even more successful.”
“This announcement is excellent news for our North American customers,” notes Steve Lukes, VP of Americas Sales for Orc Software. “Knowledge of local market requirements is key to our business. The Chicago Development Center will be instrumental in helping us continue to support the needs of our clients in the area.”
Orc Software’s Chicago Development Center will be responsible for developing solutions specifically for Orc’s growing North American client base. Orc Software’s development is currently spread across multiple offices around the world to ensure the best possible development of solutions suited to Orc’s global customer base. With over 260 employees, Orc is a global company with substantial local market expertise.
Orc Software’s Chicago Development Center will be located in expanded offices at 190 South LaSalle Street in Chicago’s Loop business district.
“Chicago is at the center of global derivatives trading and has one of the most talented and diverse workforces in the world, making it an ideal location for Orc Software to cultivate a strong development team,” said Rita Athas, executive director of World Business Chicago. “We are pleased to add Orc to an impressive group of tech companies that prosper in Chicago.”
“Chicago is a vibrant and growing market for us,” said Hugh Stables, VP of Engineering for Orc Software. “Opening a development center in Chicago will help us better serve the needs of our customers and expand our capability to develop world-class derivatives trading and connectivity solutions. In addition, with the wealth of knowledge and expertise in the Chicago region, we expect to find outstanding employees to join our team and make Orc Software even more successful.”
“This announcement is excellent news for our North American customers,” notes Steve Lukes, VP of Americas Sales for Orc Software. “Knowledge of local market requirements is key to our business. The Chicago Development Center will be instrumental in helping us continue to support the needs of our clients in the area.”
Orc Software’s Chicago Development Center will be responsible for developing solutions specifically for Orc’s growing North American client base. Orc Software’s development is currently spread across multiple offices around the world to ensure the best possible development of solutions suited to Orc’s global customer base. With over 260 employees, Orc is a global company with substantial local market expertise.
Orc Software’s Chicago Development Center will be located in expanded offices at 190 South LaSalle Street in Chicago’s Loop business district.
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