Citi clears first buy-side client trade on CurveGlobal
22 May 2018 London
Image: Shutterstock
Citi has completed the first buy-side client trade on CurveGlobal, when it executed a three-month sterling futures for a global hedge fund.
The news follows the recent announcement that CurveGlobal, the futures trading platform, had launched the first three-month SONIA contract in April, following the introduction by the Bank of England of its new money market benchmark.
The new CurveGlobal three-month SONIA future is listed on London Stock Exchange Derivatives Markets, along with the CurveGlobal three-month sterling future, and the CurveGlobal Inter-Commodity Spread Future (ICS). ICS enables execution across the two benchmarks with no legging risk.
Sabrina Wilson, head of futures, clearing and collateral for Europe, the Middle East and Africa Citi, said: “As our clients’ requirements for greater efficiency continue to grow, we welcome initiatives like CurveGlobal that promote greater choice for market participants and allow them to optimise execution and use of capital.”
She added: “We are pleased to complete this milestone trade and look forward to bringing more innovative solutions to the market.”
Andy Ross, CEO of CurveGlobal, said: “We’re delighted to see that Citi has embraced the efficiencies and innovation that CurveGlobal offers.”
He added: “As a charter investor in the platform, the bank has always been quick to recognise the importance of choice, and the ability to determine how best to minimise risk and associated collateral and capital charges.”
The news follows the recent announcement that CurveGlobal, the futures trading platform, had launched the first three-month SONIA contract in April, following the introduction by the Bank of England of its new money market benchmark.
The new CurveGlobal three-month SONIA future is listed on London Stock Exchange Derivatives Markets, along with the CurveGlobal three-month sterling future, and the CurveGlobal Inter-Commodity Spread Future (ICS). ICS enables execution across the two benchmarks with no legging risk.
Sabrina Wilson, head of futures, clearing and collateral for Europe, the Middle East and Africa Citi, said: “As our clients’ requirements for greater efficiency continue to grow, we welcome initiatives like CurveGlobal that promote greater choice for market participants and allow them to optimise execution and use of capital.”
She added: “We are pleased to complete this milestone trade and look forward to bringing more innovative solutions to the market.”
Andy Ross, CEO of CurveGlobal, said: “We’re delighted to see that Citi has embraced the efficiencies and innovation that CurveGlobal offers.”
He added: “As a charter investor in the platform, the bank has always been quick to recognise the importance of choice, and the ability to determine how best to minimise risk and associated collateral and capital charges.”
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