May volume spikes for OneChicago
04 June 2013 Chicago
Image: Shutterstock
OneChicago, an equity finance exchange, announced May 2013 volume of 1,094,616, an increase of 322 percent compared with the same period in 2012.
“The continued growth of SSF volumes is directly related to customers locking in relatively low rates for their term trading now with the anticipation of interest rates rising,” said David Downey, CEO of OneChicago.
“As firms and asset managers look to manage their costs of carrying positions, synthetic exposure to the US equity markets via SSF priced with a competitive broker dealer interest rate is a smart alternative.”
Open interest stood at 746,943 contracts on the equity finance exchange at the end of May 2013. There were 1,064,741 Exchange Futures for Physicals (EFPs) and blocks traded, and the month’s EFPs and blocks activity represented $4.8 billion in notional value.
Sixty-one percent of May 2013 month-end open interest was in OCX.NoDivRisk products, an equity finance tool that removes dividend risk for customers carrying equity delta exposure.
“The continued growth of SSF volumes is directly related to customers locking in relatively low rates for their term trading now with the anticipation of interest rates rising,” said David Downey, CEO of OneChicago.
“As firms and asset managers look to manage their costs of carrying positions, synthetic exposure to the US equity markets via SSF priced with a competitive broker dealer interest rate is a smart alternative.”
Open interest stood at 746,943 contracts on the equity finance exchange at the end of May 2013. There were 1,064,741 Exchange Futures for Physicals (EFPs) and blocks traded, and the month’s EFPs and blocks activity represented $4.8 billion in notional value.
Sixty-one percent of May 2013 month-end open interest was in OCX.NoDivRisk products, an equity finance tool that removes dividend risk for customers carrying equity delta exposure.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
