Asset Classes

Capitalia to start SwapsWire for equity derivatives

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.

State Street buys electronic foreign exchange trading platform Currenex

State Street has bought Currenex, the online foreign exchange trading platform used by currency traders, including banks and hedge funds. State Street has $564 million in cash - which observers see as a handsome price - but says the purchase will accelerate its growing participation in the electronic foreign exchange trading market.

AFA adds options trading functionality to its IMPACT Pro trading platform

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

MEFF now offers stock options and futures on whole of IBEX 35 and PRISA

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 processing firm T-Zero hires George Harrington as COO

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.

Nomura Securities International buys derivatives DMA platform from Patsystems

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 offers OTC valuation service to institutional clients

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.