The Spanish Exchange yesterday began to trade the first 'turbo' warrants, which have been issued by BNP Paribas Arbitrage Issuance (BNP Paribas). The issue consists of 8 Turbo Call and 8 Turbo Put warrants on the IBEX 35.
The world of investment management is changing with absolute-return strategies, portable alpha, hedge funds and yield enhancement becoming an integral part of the everyday life of traditional portfolio management, according to research and advisory firm TABB Group.
Derivatives solutions provider SuperDerivatives has announced that Saab is using its multi-asset real-time derivatives pricing and risk management platforms to implement the company's hedging strategy and to optimize the returns of its treasury pension trust.
Electronic options exchange HedgeStreet says that Susquehanna International Group (SIG) and DRW Trading Group (DRW) have launched market-making services on its platform. In addition, SIG and DRW have taken investment stakes in HedgeStreet. Together with a second investment from the Chicago Board Options Exchange (CBOE), HedgeStreet has closed its latest funding round.
Inrer-dealer brokers GFI Group and ICAP are launching the first multi-broker tradable iTraxx tranche fixings for the interbank market. The month-end fixings will be established by dealers inputting prices onto a joint GFI/ICAP platform and follows on from fixings in previous months operated by GFI.
Inter-dealer broker Tullett Prebon has established a nuclear fuel derivatives desk. The firm is already active in the power, gas, oil, coal and emissions markets. The desk will initially offer utilities, miners, banks and funds, a set of standardised financially settling contracts on U3O8, but are intending to look other areas of the fue lcycle as well as wider, cross-product applications in the near future.
GL TRADE, a solutions provider for financial institutions, has announced that Russian DMA equity and derivatives broker, BrokerCreditService, will go live on EDX using GL TRADE ASP technology. BCS Group's clients will have a cost-effective opportunity to trade directly on EDX London which launched, last December, Russian IOB equity derivatives services. This enables equity and index derivatives based on IOB Russian depositary receipt instruments to be traded on-exchange and cleared by LCH.Clearnet.
The Dubai Financial Services Authority (DFSA) has granted Eurex the status of a Recognised Body within the Dubai International Financial Centre (DIFC). The DFSA is the regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the DIFC.
Software and solutions provider Misys Treasury & Capital Markets announced yesterday that Indian Bank HDFC has selected its Misys Summit FT solution to process interest rate derivatives. Misys has over 17 years of experience delivering solutions to the interest rate derivatives market.
On Thursday last week electronic commodities trading platform InterContinental Exchange made a hostile bid for the parent company of the Chicago Board of Trade (CBOT). The price values CBOT at around $10 billion.