New for traders: CME announces CNX Nifty Index futures price limits

February 6, 2015 12:46 PM

CNX Nifty Index futures price limits 

Effective Sunday, Feb. 1, 2015, for trade date Monday, Feb. 2, 2015, Chicago Mercantile Exchange Inc. will amend price limits for E-mini CNX Nifty Index Futures (CME Rulebook Chapter 381; CME Globex and clearing code: EMF) and E-micro CNX Nifty Index Futures (CME Rulebook Chapter 382; CME Globex code: MNF; Clearing code: II) as described below. These contracts are listed for trading on the CME Globex electronic trading platform and for submission for clearing through CME ClearPort.

February 2015 CNX Nfty Stock Index futures price limits

Typhon adds Metis Momentum Macro Program

Typhon Capital Management announced it has reached an agreement with Meritage Capital. Under this agreement, Mark Aune will join Typhon as a Principal Trader and will solely manage the Metis Momentum Macro Program, which he developed in conjunction with Meritage, for Typhon. All three parties will share Metis’s economics.

Metis, which returned 37.72%* in 2014, has begun trading at Typhon with $4 million in investor capital, and anticipates launching a cell on the Hydra Platform--a Tactical Strategies Platform operated by Typhon’s affiliate, Typhon Access.

CME announces 6 new European natural gas contracts 

CME Group announced the launch of six additional European natural gas cleared future contracts on CME Europe, adding to the four physically delivered and eight financially settled contracts which launched and began trading on Monday, Jan. 19, 2015.

These additional European natural gas cleared futures contracts are all financially settled. They are UK, Dutch and German Daily and Italian Calendar Month futures as follows: UK NBP Natural Gas (ICIS Heren) Daily Future; Dutch TTF Natural Gas (ICIS Heren) Daily Future; German NCG Natural Gas (ICIS Heren) Daily Future; German Gaspool Natural Gas (ICIS Heren) Daily Future; Italian PSV Natural Gas (ICIS Heren) Calendar Month Future; Italian PSV Natural Gas (ICIS Heren) vs. Dutch TTF Natural Gas (ICIS Heren) Spread Calendar Month Future. The contracts will be listed on CME Group's European exchange, CME Europe, for first trade date on Monday 2 February 2015 and are authorised and approved by the United Kingdom (UK) Financial Conduct Authority. All our European natural gas contracts will be available on Clearport, Globex and distributed via the Trayport platform alongside other exchange products.

Details of the new contracts are set out below and full contract specifications can be found here.

ICAP e-Commerce launches Scrapbook, an innovative e-solution for the corporate bond market 

London, New York, 26 January 2015 - ICAP, a leading markets operator and provider of post trade risk mitigation and information services, announces today that it is launching Scrapbook, an anonymous, session-based e-solution for the corporate bond market. 

The service will be operated by ICAP’s BrokerTec MTF (Multilateral Trading Facility) under the regulated entity of BrokerTec Europe Limited leveraging the ICAP e-Commerce team.

Launching in February, the e-solution is made possible through a strategic partnership with third-party pricing and reference data provider, Interactive Data. Scrapbook customers will have access to Interactive Data’s Continuous Fixed Income Evaluated Prices, based on a methodology which incorporates both algorithmic and human analysis. This solution gives customers access to continuously updated, high quality fixed income evaluations to enhance price discovery and facilitate trade idea generation.

Accessed via ICAP’s web-based e-Commerce portal, Scrapbook will be powered with the latest technology, making the new front end intuitive, fully customisable and easy to configure. The solution aims to help corporate bond traders identify opportunities and manage their positions efficiently, leveraging the excellence of BrokerTec’s MTF regulated entity.

The e-Solution is run by ICAP’s Scrapbook team, part of the independently managed e-Commerce division within ICAP’s Global Broking business and separated by information security procedures to maintain customer confidentiality.

Dean Berry, Head of e-Commerce, ICAP, said: “The corporate bond market has experienced reduced liquidity from a combination of increased regulatory controls and challenging market conditions. We believe that Scrapbook meets the changing needs of bond traders, offering an intuitive new solution that combines anonymity with leading technology, pricing and a regulated trade environment. We have received positive feedback from our customers and intend to grow our range of bond products offered on Scrapbook in the near future.”

Andrew Hausman, President Pricing and Reference Data, Interactive Data said: “We are delighted to partner with ICAP on this innovative solution to provide greater pre-trade price transparency and price discovery for corporate bond traders. Not only does it validate another important front-office use case for continuous evaluated pricing, it represents an important step forward in the changing landscape of the fixed income markets.”

Trading technologies to establish connection to KCG's fixed income liquidity

CHICAGO and NEW YORK, February 3, 2015 – Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, and KCG Holdings, Inc., an independent market-making and execution-only brokerage firm, today announced that TT will introduce connectivity to KCG Fixed Income in the first quarter of 2015. KCG provides direct access to on-the-run U.S. Treasury liquidity. This marks the first time TT has offered connectivity to liquidity from a non-exchange provider.

With this new connection to KCG, TT will provide professional traders with a consolidated point of access to multiple sources of global fixed income liquidity. With the upcoming server-side Aggregator, customers will be able to consolidate the display and introduce smart order-routing logic when trading complex strategies across multiple U.S. Treasury markets.

"Connectivity to KCG will boost our offering to fixed income traders by providing them with direct access to additional liquidity generated by KCG's market makers. We think this will be an important differentiator for us as we continue to strengthen our tool suite for the fixed income community," said Rick Lane, CEO of Trading Technologies.

TT customers will be able to enter and manage trades on KCG from both X_TRADER and the new TT platform, which is currently available to early-stage users, using the full suite of tools including Autospreader®, Autotrader™, and the ADL® visual programming platform for algorithmic trading, as well as TT's FIX and proprietary API solutions.

The KCG connection will complement TT's existing connections to the major U.S. Treasury and Treasury futures markets, bringing the total number of exchanges and liquidity destinations available through X_TRADER to 40.

Samantha Coyne, head of Fixed Income Client Services for KCG, said, "We're pleased to offer Trading Technologies' clients access to our market making liquidity. This technology makes our one-to-one, fully accountable trading relationship very scalable and enables us to deliver high quality liquidity to TT's diverse client base without asking them to change their workflow."

X_TRADER users will be able to access KCG's liquidity through internally hosted gateways or TT's TTNET™ global hosting solution, including TT's MultiBroker offering.

About the Author

Jaime Toplin is the editorial and web intern at Futures Magazine. She also contributes content to Hard Assets and the Alpha Pages. Jaime is a senior at Northwestern University's Medill School of Journalism, studying magazine and online journalism as well as legal studies. She is the VP of Public Relations for her student government and works for a Medill professor who researches digital media.