Exchange-Traded Derivatives

Poland’s Warsaw Stock Exchange (WSE) recorded Europe’s fourth-highest trading volume in index futures contracts, both for the month of June and across the first half of this year, according to figures compiled by the exchange and the Federation of European Securities Exchanges.

NYSE Arca’s decision last week to raise the fee for taking liquidity in its tier-one penny pilot options has prompted a negative reaction from options traders, according to Tony Saliba, president and CEO of LiquidPoint, the options division of agency broker BNY ConvergEx.

A malfunction in the Tokyo Stock Exchange’s derivatives system, which disrupted trading for almost three hours on Tuesday, was caused by a software problem introduced during an upgrade over the weekend, according to a spokesman for the exchange.

The concept of best execution is spreading to areas of the listed derivatives market beyond options, according to Sabrina Belkadi, executive director, Goldman Sachs Electronic Trading.

European derivatives exchange Eurex has reported a 196% increase in the number of single-stock futures it traded in the first five months of this year compared with the same period last year.

Futures and options broker MF Global now offers connectivity to the National Stock Exchange of India and the Bombay Stock Exchange (BSE) through its existing infrastructure, provided by derivatives trading solutions firm Patsystems.

UK electronic trading tools provider FFastFill has bought 100% of Exchange Technology, an Australian middle-office software vendor.

Derivatives exchange Eurex will launch USD-denominated derivatives on the MSCI Russia Index, on 23 June 2008.

The Tokyo Stock Exchange (TSE) is planning to introduce Tdex+, a new options trading system, in the first half of 2009.

Research and strategic advisory firm Tabb Group has released a new paper predicting considerable challenges ahead for options market makers.