Trading and back office systems vendor GL TRADE says its Tradix OTC derivatives platform is selling well, following expansion of its instrument coverage and better connectivity between its front and back office applications.
GL TRADE has launched the a so-called options startegy scanner, which it says can instantly simulate all possible options strategies based on the expected price/date of the underlying value and profitability criteria.
The parent of the New York Mercantile Exchange has ditched plans to operate a trading floor in London. Open outcry trading in London "never took off the way that we hoped," a Nymex spokeswoman explain
SwapsWire announced yesterday that Capitalia Spa is the first Italian bank using its system to automate OTC equity and interest rate derivative trade confirmations. Capitalia started confirming interest rate swaps trade electronically in August 2006 and went live with equity options on SwapsWire in December.
Advanced Financial Applications (AFA) is adding an options trading capability to its IMPACT Pro platform. Phase I offers clients options trading capabilities, and is available now. Phase II, likely to be release at the end of the first quarter, will include analytics functionality
GL TRADE, a provider of front-to-back solutions for international financial institutions, has launched GL SCANNER, the first options strategy scanner. GL SCANNER is a hosted, server-based solution.
From today, the Spanish derivatives exchange MEFF has expanded its futures and options contracts to cover all the underlying shares in the IBEX 35, and PRISA. This means MEFF now provides 100% coverage of the Index’s capitalisation, both with futures and with options.
Credit derivatives trade matching and processing services provider T-Zero has hired George Harrington as Chief Operating Officer. Launched in the summer of 2005, T-Zero claims to have gained strong momentum over the past year as an increasing number of dealers, buy-side market participants and prime brokers sign on for the service. The company claims to have experienced a 338% growth rate in the second half of 2006 compared to the first have of the year.
Patsystems says Nomura Securities International, Inc. in the US has bought its complete trading platform, including the Pro-Mark front-end for high-volume professional traders. Also in the initial phase, Patsystems will provide Nomura with access to CME (Chicago Mercantile Exchange), CBOT (Chicago Board of Trade), Euronext.liffe and Eurex. This contract follows Patystems' announcement, earlier this month, of a contract signed with US-based Midas Securities to provide Midas with front-end trading systems.
Mellon Financial Corporation has introduced an independent, over-the-counter derivative (OTC) valuation service for a range of swaps and options to institutional clients. Mellon will provide these valuations through third-party vendors, at the direction of the institutions in question.