High EFP activity at OneChicago
03 March 2014 Chicago
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OneChicago has achieved a volume of 735,214 for February 2014.
There were 716,046 exchange futures for physicals (EFPs) and blocks were traded by OneChicago in February, which represents $3.6 billion in notional value. 50 percent of the month-end open interest was in OCX.NoDivRisk—the equity finance tool which removes dividend risk for customers carrying extra delta equities through derivatives.
David Downey, CEO of OneChicago, said: “We are very excited by the surge in EFP volumes that we saw in February of this year versus the 2013 levels with activity jumping just over 861 percent.”
“This is a phenomenal development as the market begins to embrace the true benefits of the single stock future product, which is replacing a relatively expensive equity position with a cheaper economic equivalent in an integrated transaction, avoiding any market execution risk. The Delta One substitution, similar to OTC swaps, is the value proposition that we have been promoting.”
There were 716,046 exchange futures for physicals (EFPs) and blocks were traded by OneChicago in February, which represents $3.6 billion in notional value. 50 percent of the month-end open interest was in OCX.NoDivRisk—the equity finance tool which removes dividend risk for customers carrying extra delta equities through derivatives.
David Downey, CEO of OneChicago, said: “We are very excited by the surge in EFP volumes that we saw in February of this year versus the 2013 levels with activity jumping just over 861 percent.”
“This is a phenomenal development as the market begins to embrace the true benefits of the single stock future product, which is replacing a relatively expensive equity position with a cheaper economic equivalent in an integrated transaction, avoiding any market execution risk. The Delta One substitution, similar to OTC swaps, is the value proposition that we have been promoting.”
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