The Spread: Derivatives On-Demand

This week on The Spread, FIA announces IDX 2020, the Small Exchange launches, OCC celebrates increased volumes for cleared derivatives trades, and more.


Welcome to The Spread, where like you, we’re taking things a day at a time. I’m Matt Raebel. Several Chicago-based trading firms donated a combined total of four million dollars to the Greater Chicago Food Depository, including Citadel, CTC Trading, DRW Trading, IMC, Intercontinental Exchange and Mizuho Securities. FIA mentioned this in an article they put out this week – they also announced that IDX 2020 is in fact happening! The derivatives conference will take place virtually this year, so no need to worry about stocking up on tiny bottles of hand sanitizer – you can watch the whole show from the safety of your home. I’ve put a link to registration for the show in my “sources” section below so you can sign up when you’re done watching this video. The Small Exchange became a participant exchange with the OCC, launching successfully on June first. It’s going to be hard to throw a welcome party for them right now, but in the meantime the OCC put out a statement welcoming them to the fold. The world’s largest equity derivatives clearing organization also announced that in May 2020, the OCC’s volumes were up more than 17 percent compared to last year. Exchange-listed options were up even more, at 18.9 percent, and cleared futures – you might want to sit down for this – were up 62.6 percent. Makes me wish I had a little bell to ring – well, Bill, what do you think about that? (Bill: OHHH YEAHHHH!) Nice to hear you excited about something for a change. Cboe is doing well for itself. The options exchange announced it acquired Trade Alert, adding to its formidable list of tech acquisitions this year that includes Hanweck and FT Options. It also announced May 2020 volumes, and it looks like Cboe’s EDGX Options Exchange set a new all-time record for monthly ADV with 1.2 million contracts traded. Cboe also announced it is postponing re-opening the floor until June 15 due to business closures in the area around the Chicago exchange following recent protests. A lot of the  demonstrations in Chicago have been concentrated down in the Loop, including the financial district where Cboe is located, so it’s probably a good idea for them to play it safe and wait an extra week before reopening the floor. Speaking of demonstrations, we may not be able to stop the violence happening in our streets today, but there are ways we can help offset the unfair conditions that caused them. I’ve included links below my usual sources to several organizations working to seek justice for the more vulnerable members of society. If you are so inclined, just follow the link to any of the secure web pages so you can donate to the organization of your choice. That’s it for The Spread this week. Stay safe and happy trading.


International Derivatives Expo

Chicago-area derivatives firms give more than $4 million to local food bank

OCC Welcomes the Small Exchange

Options, Futures Volumes Rise 17.3% in May
Traders Magazine

Cboe Global Markets Reports May 2020 Trading Volume
Cboe (press release)

Cboe Global Markets Acquires Trade Alert, Adding  Real-time Alerts and Analytics to Information Solutions  Offering

Cboe to delay reopening of Chicago options trading floor by one week
Tomi Kilgore – MarketWatch



Official George Floyd Memorial Fund

Small Businesses On Lake Street
A fund organized to help the small businesses on Minneapolis’ Lake Street thoroughfare recover from looting and property damage.

Greater Chicago Food Depository
Your Gift will be put to use immediately to provide food for hungry people in our community. Thank you for your support of the Greater Chicago Food Depository.

The NAACP is at the forefront of the movement to build political power and ensure the wellbeing of communities of color. Underscoring the advocacy of our 2,200 local units across the country, we empower our communities to make democracy work for them.

Southern Poverty Law Center (SPLC)
The SPLC is dedicated to fighting hate and bigotry and to seeking justice for the most vulnerable members of our society. Using litigation, education, and other forms of advocacy, the SPLC works toward the day when the ideals of equal justice and equal opportunity will be a reality.

National Urban League
Join the fight against unfair laws, job limitations, and racial inequality

Baltimore Action Legal Team
Within the Baltimore region, there is a need for race equity and human rights lawyering that serves the interests of grassroots movements and inspires attorneys to think boldly about the roles of lawyers in re­creating a more just and equitable Baltimore.

National Bail Fund – Directory of Community Bail Funds
Our country faces unprecedented turmoil as we navigate a global pandemic and the continued fight for social justice and equality for all. As a leading civil rights organization, the National Urban League remains committed and proactive in its efforts to remove barriers negatively impacting communities across our country. We are dedicated to addressing issues involving criminal and social justice reform, police accountability, and ensuring key civic engagement for all citizens, such as voting rights and census participation.

Split a donation between 70+ community bail funds, mutual aid funds, and racial justice organizers

Bed-Stuy Strong
Bed-Stuy Strong is a group of neighbors helping neighbors in a spirit of solidarity. We are a mutual aid network of over 3,000 people from across Bed-Stuy who are supporting our community during the COVID-19 crisis. We crowdsource donations and use them to provide no-contact grocery deliveries for vulnerable members of our Bed-Stuy communities.

LGBTQ people are three times more likely to be jailed. At risk of abuse, many can’t afford bail. We get them out.

Unicorn Riot
Nonprofit media collective dedicated to exposing the root causes of social, economic, and environmental issues.



A young woman wearing a hijab on a pink background.

Asma Awass

I am a Finance and Business Analytics student at UIC. I am an active member of my university’s boxing club and I also enjoy the creative arts.

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