Asset Classes

Binary options exchange HedgeStreet raises more money from the CBOE

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.

Inter-dealer brokers GFI and ICAP offer joint credit derivative fixings

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.

Tullett Prebon adds nuclear fuel to energy derivatives trading capabilities

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.

BrokerCreditService to use GL TRADE technology

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.

ICAP adds New Zealand dollar to EBS foreign exchange trading platform

ICAP wants to offer electronic trading in the New Zealand dollar around the globe. The inter-dealer broker is introducing the "Kiwi dollar" (NZD) to the EBS electronic spot FX trading platform as a tradable currency against the US dollar so traders can view the NZD tradable pair along with the other major dollar, euro and yen currency pairs, and precious metals, on the same screen.

Eurex secures licence to open its markets to trading firms based in Dubai

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.

Merrill Lynch 'ML FX Clone' Model Replicates Hedge Fund FX Strategies

Merrill Lynch yesterday introduced ML FX Clone, a methodology for replicating hedge funds' foreign exchange (FX) strategies that will help investors to better understand and ultimately access the FX markets with greater ease and at lower cost. ML FX Clone is designed to replicate the most widely-used FX investment styles followed by active portfolio managers.

Quant House adds Hotspot foreign exchange platform to its data feed handler

Quant House has implemented access to Hotspot FXi, a multibank foreign exchange marketplace, via its feed handler. Quant House is a provider of low latency market data technologies, trading strategies development frameworks, execution engines and proximity hosting services that aim to help programme trading firms to trade ahead.