Derivatives

New Canadian derivatives exchange to begin operations in 2009

TSX Group CEO Richard Nesbitt and International Securities Exchange (ISE) president and CEO David Krell yesterday announced the creation of DEX, a new derivatives exchange which is scheduled to begin operations in March 2009 and will list and trade options, futures and options on futures on a range of Canadian securities.

Eurex Repo sets new record

Eurex Repo, the electronic repurchase agreement (repo) market of the international derivatives exchange Eurex, reached a new peak on 23 February; the daily outstanding volume in the Euro repo market totaled €57.5 billion. The previous record was €55 billion reached on 10 November 2006.

UBS Securities Malaysia becomes Malaysia's first foreign broker to be granted authorised borrower status

Bursa Malaysia has granted UBS Securities Malaysia authorised borrower status under its reintroduced regulated short-selling and securities borrowing and lending activities scheme. "We are delighted at being allowed to participate in the Securities Borrowing and Lending (SBL) framework," says Joe Cavatoni, head of equity swaps, Asia, UBS. "The re-introduction of these measures will contribute strongly to greater liquidity and enhance the attractiveness of the Malaysian market," he adds.

GL TRADE, LSE and EDX London hold their first trading forum in Moscow

GL TRADE, a provider of integrated solutions for financial institutions, working in partnership with the London Stock Exchange (LSE) and its derivatives business EDX London, will hold its first joint trading forum in Moscow on 29 March. The forum will give an overview of the LSE's International Order Book (IOB) and the newly launched EDX Russian IOB Equity Derivatives Services.

ISE announces record daily trading volume for equity and index options

The International Securities Exchange announced yesterday that it set a new record daily trading volume of 5,531,875 equity and index options contracts on Tuesday, February 27, 2007. The previous record for contracts handling was 4,580,678, and was set on January 20, 2006.

Enterprise Excel solution helps traders price and model financial products

Derivatives pricing software provider NumeriX yesterday announced a strategic partnership with ClusterSeven, a developer of enterprise spreadsheet management and control software. The combined technologies give customers the capability to quickly and accurately price and execute financial products without leaving Excel, the trader’s preferred technology tool.

BNY ConvergEx Group reports commission recapture record high in 2006

BNY ConvergEx Group, a provider of agency brokerage and investment technology solutions, yesterday announced record new client numbers for its commission recapture business in 2006. Globally, 279 new clients entered into commission recapture programs with LJR Recapture Services, up from 217 in 2005, a 29% increase year-on-year. This number represents a record high for LJR Recapture Services since joining The Bank of New York’s affiliate BNY ConvergEx Group (formerly BNY Securities Group) in 2005.

SuperDerivatives opens support office for Indian clients in Mumbai

Derivatives valuation experts SuperDerivatives have opened a sales and support office in Mumbai, together with a dedicated data centre, to support the company's expanding customer base in India. The new regional office and extended local team will provide sales, support training and professional services to SuperDerivatives users coming from both the private and public sectors.