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.
London-based data and valuation provider Markit Group has formed a partnership with Quintillion, a Dublin-based fund administration services company, to provide mutual customers with fund administration services and independent Over-The-Counter (OTC) derivatives valuations.
The Chicago Board Options Exchange (CBOE) says that last week was the second consecutive week in which it experienced the busiest weekly trading activity for options on the S&P 500 Index (SPX) in its history. Volume during the week of March 12-19, 2007 totalled a reported 5,051,009 contracts traded, besting the previous record of 4.35 million contracts set just a week ago (March 5-9, 2007).
SunGard says its margining application is compliant with the new margin calculation rules set by the NYSE and the CBOE
SunGard says its Margin Advisor application for monitoring of cross-asset margin now meets the requirements of the New York Stock Exchange's Rule 431 amendments and the Chicago Board of Options Exchange's Rule 12.4 that give broker-dealers, futures commission merchants (FCMs) and non-clearing members the ability to adopt a risk-based portfolio margin methodology from 2 April.
Quantifi, a provider of analytics and risk management solutions to the global credit markets, yesterday announced the launch of Quantifi Version 8.6, a toolkit for the pricing and risk assessment of credit derivatives. With the release of version 8.6, Quantifi maintains its leadership by being first-to-market with pricing models for some of the market's latest innovations, such as constant proportional debt obligations (CPDOs), options on CDO tranches, and forward starting CDO tranches.
ClusterSeven, a spreadsheet management software provider, announced a strategic alliance with DoubleHelix, a management consulting firm specialising in derivatives, credit derivatives and treasury departments, to offer spreadsheet management solutions for mission critical spreadsheets in major investment banks, asset management firms and private banks. This partnership, formed in 2006, covers the UK and Europe.
Derivatives trading software vendor Trading Technologies International (TT) is introducing a trading gateway to connect its X_TRADER order-entry platform to the Spanish derivatives exchange, MEFF. TT plans to release the MEFF gateway later this year. The company will also launch a MEFF simulation environment, which will allow X_TRADER users to test and refine trading strategies without risking capital.
The American CSD, the Depository Trust and Clearing Corporation (DTCC), says its Deriv/SERV OTC derivatives order routing and matching business has had a record year, with transaction volume tripling in 2006. As a result, DTCC is providing a first-time rebate of $3 million to its dealer customers.