CurveGlobal Celebrates First Anniversary
CurveGlobal, the interest rate derivatives venture launched by London Stock Exchange Group in partnership with a number of major dealer banks* and another exchange, CBOE, today celebrates its first year of operation. The platform has seen 1.5 million lots traded since its launch in September 2016, with over 40% of this achieved in the last 3 months.
Andy Ross, Chief Executive of CurveGlobal said: “As we celebrate our first year in business, CurveGlobal has already proven itself to be a highly efficient venue for derivatives trading; offering genuine choice and liquidity to the market. As we grow volumes and add participants, CurveGlobal continues to provide much needed competition in the futures markets. Our Open Access platform provides margin and capital efficiencies, giving firms choice into where they execute and clear their interest rate derivatives trades.”
- 1.5 million lots traded since launch
- First 100,000 lots took 41 business days; most recent 100,000 lots was achieved in just 8 business days
- Over 40% of volume has come in the last 3 months
- First mid-price block trade was created on 14 September 2017
- Deep order book liquidity, at-the-touch order size 1000’s of contracts in white/red/green expiries
- Best Execution under Mifid II – best at-the-touch price on CurveGlobal 94.96% of the time
*Major dealer banks: Bank of America Merrill Lynch, Barclays, BNP Paribas, Citi, Goldman Sachs, J.P. Morgan and Societe Generale
Use of algos has risen with the increase of electronically streamed NDF prices.
Liquidity of interest rate swap clearing services will increase.
Gross market value of outstanding OTC derivatives contracts last year fell to the lowest level since 2007.
Almost two-thirds of market participants are optimistic about the future.
The launch meets demand for emerging market focused products.