OneChicago's 7 percent hike
02 October 2014 Chicago
Image: Shutterstock
Equity finance exchange OneChicago recorded volume of 1,357,848 in September, a 7 percent increase year-over-year.
Year-to-date volume through 30 September was 7,952,933, up 14 percent compared to the first nine months of 2013.
Open interest increased 3 percent year-over-year to 678,148 contracts on the equity finance exchange at close-of-market on 30 September.
The equity finance exchange also saw 1,347,696 exchange futures for physicals and blocks traded in September, with activity representing $6.6 billion in notional value.
OCX.NoDivRisk products accounted for 59 percent of September鈥檚 month-end open interest.
Execution fees in OCX.NoDivRisk products鈥攃omposed of 1D contracts and the recently launched OCX.Weekly鈥攚ere also reduced on 1 October.
OneChicago reduced execution fees by 75 percent from the current $20 per $1 million to $5 per $1 million executed notional value for all OCX.NoDivRisk products.
鈥淢arket participants looking to increase their investment yields by reducing their financing costs are very sensitive to transaction fee frictions,鈥� said David Downey, CEO OneChicago.
鈥淥ur fee reduction to five one-hundredths of a basis point will make establishing and rolling expiring security futures positions one of the most attractive means to carry equity delta exposure in individual equities as well as ETFs.鈥�
Year-to-date volume through 30 September was 7,952,933, up 14 percent compared to the first nine months of 2013.
Open interest increased 3 percent year-over-year to 678,148 contracts on the equity finance exchange at close-of-market on 30 September.
The equity finance exchange also saw 1,347,696 exchange futures for physicals and blocks traded in September, with activity representing $6.6 billion in notional value.
OCX.NoDivRisk products accounted for 59 percent of September鈥檚 month-end open interest.
Execution fees in OCX.NoDivRisk products鈥攃omposed of 1D contracts and the recently launched OCX.Weekly鈥攚ere also reduced on 1 October.
OneChicago reduced execution fees by 75 percent from the current $20 per $1 million to $5 per $1 million executed notional value for all OCX.NoDivRisk products.
鈥淢arket participants looking to increase their investment yields by reducing their financing costs are very sensitive to transaction fee frictions,鈥� said David Downey, CEO OneChicago.
鈥淥ur fee reduction to five one-hundredths of a basis point will make establishing and rolling expiring security futures positions one of the most attractive means to carry equity delta exposure in individual equities as well as ETFs.鈥�
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