This week on The Spread, several exchanges cautiously open their trading floors, the OCC’s volumes are up yet again, Cboe posts its earnings report, and more.
Produced by Mike Forrester.
Welcome to The Spread! I’m Matt Raebel, just settling into the new normal like everyone else. Several U.S. exchanges reopened their floors this week; in addition to NYSE Arca, the BOX exchange in Chicago, which has a relatively smaller floor, opened with fewer people and more safety precautions. The execution of larger, more complicated orders has been challenging for some traders and brokers since the exchanges closed because of the quarantine, so hopefully the ones that are open will have smoother operations while maintaining the safety of their employees. On the lighter side of things, the OCC continues to have a banner year so far. April 2020’s total volumes were up almost 43 percent from a year ago. I can almost picture OCC’s CEO John Davidson jumping up and clicking his heels with excitement. Speaking of John Davidson, JLN’s Suzanne Cosgrove interviewed him, and it went up on our site this week. Davidson has some good insight and some stories to tell – like the one about a serendipitous drill the company did right before the quarantine that allowed them to transition seamlessly into quarantine mode. The OCC also hired the blockchain firm Axoni to revamp the OCC’s securities lending infrastructure with distributed ledger technology – that doesn’t necessarily mean blockchain technology, but it can. I know what you’re thinking – “blockchains? How 2018!” The whole blockchain craze has calmed down in recent years, but people are still finding new ways to put the technology to good use. Speaking of tech news, Trading Technologies International, or TT, announced that derivative products listed on Borsa İstanbul Derivatives Market, or VOIP, are now available on the TT Platform. Borsa Istanbul is the only exchange in Turkey – some people like it better that way. Last, Cboe reported its trading volume this week; average daily volume across its four exchanges is up 47 percent compared to last year, even after last year’s 99 percent increase in ADV across those same exchanges, and Cboe’s EDGX Options Exchange reached an all-time high of over one million contracts traded. Thanks for watching. Keep safe out there, especially if you’re on the floor again, and happy trading. We’ll see you next time.
Trading Technologies Launches Connectivity to Borsa İstanbul in Derivatives
US options exchanges prepare to reopen trading floors
Cboe Global Markets Reports April 2020 Trading Volume
OCC April 2020 Total Volume Up 42.9 Percent from a Year Ago
OCC Selects Axoni to Modernize Securities Lending Infrastructure
John Davidson: OCC CEO Explains The ‘fortunate Coincidence’ of Pandemic Preparation
Suzanne Cosgrove – JLN