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Automated Trader Update: News from the Sunshine State

First Published 15th March 2013

Gensler speaks at Boca, CMRC Canadian study on messaging tax, CFTC certifies futures contracts for BVMF, DTCC to establish repositary, SGX signs with MSCI, adds Asian FX futures, collaborates with KRX, signs MOU with PSE. DGCX starts EOS platform, BSE joins Eurex tech platform, BATS offers free US mini options, TT connects to GovEx, Mantara enhances ExpressWay

Those of you lucky enough to be basking in the Boca Raton sunshine (well, to be fair, at the time we went to press it was a less-than-balmy 14 degrees there) were treated to an upbeat assessment from the CFTC's Gary Gensler. For everybody else, you can read about his views in Automated Trader here.

Industry developments

A study by the CMCRC looked at top Canadian stocks and found that a messaging tax resulted in lower quote submission, trades and volume.

The CBOE and S&P extended the CBOE's rights to list contracts based on certain S&P indices through 2032 and non-exclusive rights through 2033.

The CFTC announced certified futures contracts for BVMF - Brazil on MICEX, Hang Seng, FTSE/JSE & BSE Sensitive indices effective March 12, 2013.

DTCC, which sees Japan's importance in the global OTC world growing, said it received approval to establish a repository ahead of an April 1 deadline.

Products and services

A raft of news from SGX this week, which signed with MSCI for 14 new regional and country indices. It announced the Q3 addition of Asian foreign exchange futures to the derivatives market; it entered a collaboration with KRX for OTC clearing; and it agreed an MOU with the Philippine Stock Exchange to develop the Philippines derivatives market.

DGCX announced the start of its new EOS Trader platform built in collaboration with Cinnober. The Dubai-based exchange also entered a licensing agreement to create a futures contract based on the MSCI India Index.

More APAC news as KVH announced Japan's first 100G Metro Ethernet network service, to be available to major Japanese cities via Ciena & Cian platforms. The Bombay Stock Exchange joined Eurex Group's technology platform; and Cloud Server provider Elastichosts deployed Equinix's Hong Kong IBX for expansion into the region.

Elsewhere, BATS Options is to offer free trading for US Mini Options from March 18th, with Apple, Amazon, Google, SPDR Gold Trust and SPDR S&P 500 being the available options; and Trading Technologies announced the introduction of connectivity to US Treasury securities trading platform GovEx.

Prescient Ridge Management went live on Connamara Systems' new made-to-measure trading infrastructure.

KERIUS Finance selected Numerix CrossAsset for risk management and hedging advisory services. ConvergEx Prime Services expanded its capital introduction program to offer one-to-one, event, and matching services.

Barclays launched electronic trade advertisements for EMEA securities on Bloomberg, enabling clients to view Barclays' cash and electronic trade flow for EMEA equities broken out on Bloomberg's IOIA and RANKA screens.

Options expanded its FX connectivity, and upgraded the New Jersey to Chicago route; and Mantara enhanced its ExpressWay Risk suite, aimed at eliminating post-trade risk solutions.

People in the news

The Futures Industry Association announced the election of its board of directors and officers at its annual Boca Raton meeting; Dion appointed wealth management specialist Stephen Mitchell to its European sales team; and General Counsel Daniel M. Berkovitz is to depart the CFTC at the end of March.