High EFP activity at OneChicago 03 March 2014Chicago Reporter: Stephen Durham
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OneChicago has achieved a volume of 735,214 for February 2014.
There were 716,046 exchange futures for physicals (EFPs) and blocks were traded by OneChicago in February, which represents $3.6 billion in notional value. 50 percent of the month-end open interest was in OCX.NoDivRisk—the equity finance tool which removes dividend risk for customers carrying extra delta equities through derivatives.
David Downey, CEO of OneChicago, said: “We are very excited by the surge in EFP volumes that we saw in February of this year versus the 2013 levels with activity jumping just over 861 percent.”
“This is a phenomenal development as the market begins to embrace the true benefits of the single stock future product, which is replacing a relatively expensive equity position with a cheaper economic equivalent in an integrated transaction, avoiding any market execution risk. The Delta One substitution, similar to OTC swaps, is the value proposition that we have been promoting.”
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