OneChicago, LLC (OCX), an equity finance exchange, today announced February 2014 volume of 735,214. OneChicago is a CFTC and SEC regulated exchange offering Single Stock Futures (SSF), a delta one product, on approximately 1,500 equities, including ADRs and ETFs.
“We are very excited by the surge in the EFP volumes that we saw in February of this year versus the 2013 levels with activity jumping just over 861%,” said David Downey, CEO at OneChicago. “This is a phenomenal development as the marketplace begins to embrace the true benefit 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. This Delta One substitution, similar to OTC swaps, is the value proposition that we have been promoting.”
February 2014 highlights include:
- Open interest stood at 640,035 contracts on the equity finance exchange at close-of-market, February 28, 2014
- 716,046 Exchange Futures for Physicals (EFPs) and blocks were traded. February 2014 EFPs and blocks activity represented $3.6 billion in notional value.
- 50% of February 2014 month-end open interest was in OCX.NoDivRisk™ products. The OCX.NoDivRisk product suite is an innovative equity finance tool, which removes dividend risk for customers carrying equity delta exposure through derivatives.
Month End Volume and Open Interest – Summary |
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For 02/2014 |
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Type |
02/2014 Avg Daily Volume |
02/2014 Total Volume |
Previous Year Monthly Volume |
% Change |
YTD Total Volume |
Month End Open Interest |
ETF |
13,399 |
254,576 |
217,532 |
17% |
412,264 |
95,276 |
SSF |
25,297 |
480,638 |
538,200 |
-11% |
936,563 |
544,309 |
Exchange Total |
39,695 |
735,214 |
755,732 |
-3% |
1,348,827 |
640,035 |