Best Execution
  • Home
  • Publication

    Best Execution

    • Current issue
    • Back issues
    • Profiles
    • Viewpoint
    • Market Opinion
    • Supplements
  • Topics

    Topics

    • Equities Trading
    • Fixed Income Trading
    • Derivatives Trading
    • FX – Foreign Exchange
    • Post-trade
  • Partners
  • Listings
  • Awards

    European Women in Finance Awards

    • European Women in Finance – The Programme
    • European Women in Finance – The Winners
  • Events
  • About us

    About us

    • Marketing
    • Media info
    • Contact
  • Newsletter
  • Login
  • Home
  • Publication
    • Current issue
    • Back issues
    • Profiles
    • Viewpoint
    • Market Opinion
    • Supplements
  • Topics
    • Equities Trading
    • Fixed Income Trading
    • Derivatives Trading
    • FX – Foreign Exchange
    • Post-trade
  • Partners
  • Listings
  • Awards
    • European Women in Finance – The Programme
    • European Women in Finance – The Winners
  • Events
  • About us
    • Marketing
    • Media info
    • Contact
  • Newsletter
  • Login
HomeBestEx TopicsDerivatives tradingCurveGlobal saw 194% volume rise YoY in February
Previous Next

CurveGlobal saw 194% volume rise YoY in February

Posted by: Best Execution, March 25, 2019
Tweet
Share
Share
Pin
0 Shares

By Pia Hecher.

CurveGlobal has claimed a record start to 2019, with monthly average trading up 194% in February over the same month in 2017. The firm stated that by the end of February 2019, the average daily volume (ADV) by contracts traded was 26,442, beating the 8,995 traded in February 2017.

Asset manager BlueCrest, made public it public that it will trade in products by interest rate derivatives platform CurveGlobal to enhance effectiveness and open up futures markets.

Michael Platt, BlueCrest Capital Management
Michael Platt, BlueCrest Capital Management

“We plan to trade in CurveGlobal products because it makes business sense. Increased competition translates to improved trading economics, which can only be good news for the end-user,” said Michael Platt, CEO and co-founder of BlueCrest.

Since CurveGlobal aims to cooperate with market participants to disrupt the global futures market, where data and execution fees rose recently, support of BlueCrest is an important development for CurveGlobal. BlueCrest also claimed customers have been unable to clear and trade at venues at their discretion.

BlueCrest praised CurveGlobal’s benefits, stating the platform decreases transactional costs and charges no market data fees while trades occur closer to mid in the block market. It highlighted CurveGlobal’s capacity to cross margin futures with futures and futures with over the counter swaps cleared at LCH.

After it was discovered that the London Interbank Offered Rate (LIBOR) was open to manipulation caused by its use of sell-side estimation instead of transaction records, new benchmarks resting on real trades were set up to support contracts from floating rate bonds to derivatives. CurveGlobal facilitates this switch to derivative contracts based on non-LIBOR benchmarks.

Steven Swann, Aberdeen Standard Investments
Steven Swann, Aberdeen Standard Investments

“Assuming industry consensus on the LIBOR replacement terms, the shift shouldn’t be that difficult for the trading desk as it is swapping out one reference rate for another when modelling the curve,” said Steven Swann, head of derivatives and client driven solutions, Investment Execution at Aberdeen Standard Investments, speaking to The DESK in Q4 2018. “We’ve already seen some market innovation in response to the proposed discontinuation of LIBOR. CME have launched SOFR futures in the US while in the UK, ICE and CurveGlobal have launched SONIA futures. As with any new products it will take time to build up some critical mass, but I would expect their usage to accelerate over the next two years.”

©TheDESK & Best Execution 2019

TOP OF PAGE

0

Tags: Aberdeen Standard Investments, BlueCrest Capital Management, CurveGlobal, London Interbank Offered Rate (LIBOR), Michael Platt, Steven Swann

Share!
Tweet

Best Execution

About the author
mm

Related Posts

Refinitiv launches Term Sonia Benchmark

Refinitiv launches Term Sonia Benchmark

Following the release of the prototype last summer, Refinitiv plans to launch its Refinitiv Ter ...
Regulation & compliance : Libor transition : Lynn Strongin Dodds

Regulation & compliance : Libor transition : Lynn Strongin Dodds

THE END IS NIGH. Lynn Strongin Dodds looks at the challenges in reaching the Libor end goal. Fi ...
Derivatives trading focus : Overview : Lynn Strongin Dodds

Derivatives trading focus : Overview : Lynn Strongin Dodds

BUMPS IN THE ROAD. Lynn Strongin Dodds looks at how the derivatives market has fared in the pan ...
JP Morgan and Tradeweb execute first electronic swaps against gilt futures

JP Morgan and Tradeweb execute first electronic swaps against gilt futures

Tradeweb Markets, an operator of electronic marketplaces for rates, credit, equities and money ...

Leave a Reply Cancel reply

You must be logged in to post a comment.

Subscribe for Email Updates

Best Execution
Recent
  • The role of ESG derivatives in hedging and pricing

    The role of ESG derivatives in hedging and pricing

    January 22, 2021
    Video interview with Rhian Ravenscroft

    Video interview with Rhian Ravenscroft

    January 21, 2021
    The liquidity landscape post-Brexit

    The liquidity landscape post-Brexit

    January 20, 2021
    European Women in Finance : Else Braathen : A call to action

    European Women in Finance : Else Braathen : A call ...

    January 20, 2021
    Refinitiv study shows record sustainable finance bond issuance in 2020

    Refinitiv study shows record sustainable finance b ...

    January 19, 2021

Menu

  • Home
  • Publication
  • Topics
  • Events
  • Partners
  • Listings
  • Privacy notice
  • About us

Best Execution

In these uncertain times and as the tide of regulation rises ever higher and wider, Best Execution offers an in-depth analysis into the major trends that are shaping the financial services industry as well as providing a more detailed insight into the technology driving new products and services being developed to meet these challenges.

Where the buyside and sellside meet.

Wikipedia: Best Execution

Social

linkedin
Newsletter Sign Up
Copyright © 2020 Best Execution | Site by Refractiv.
  • Home
  • Publication
  • Events
  • Privacy notice
  • Login