By now you’ve read my previous blog introducing mini options at NYSE and know what a mini contract is and what all the hubbub is. If so, read on (or go back for a primer) and look out for two further blogs on the topic. Then you'll be set to go...
Markets have broken out of last week’s tight trading range and surged to new all-time highs this week. Any hints of weakness in the equity markets have been met by bargain hunting investors ready to scoop up shares. Here are three drivers that have moved the market this week:
Ten BIC trades (Block trades at Index Close) have been reported on NYSE Liffe US during the month of March, totaling $250 million in notional value. With these trades, NYSE Liffe US has surpassed $15 billion in notional value of BIC trades on 551 transactions. YTD ADV stands at 16.7K, up 106% Y-O-Y. Open Interest in the MSCI Index Futures complex reached a new high of 287,627 as the March-June roll begins.
NYSE Liffe US launched BIC trading in September 2011 as an innovative way to provide customers the ability to manage the tracking impact of executing large orders relative to the underlying index level by explicitly tying the transaction price to the closing level of the underlying index. BIC trading has proven to be a successful tool with over $3B transacted in mini MSCI Emerging Markets Index futures and $2.9B transacted in mini MSCI EAFE Index futures in 2013 to date alone.
The North American Securities Administrators Association (NASAA) - an organization of state securities regulators – called on Congress to increase scrutiny over dark pools and high-frequency trading to “ensure that our nation’s system of financial services regulation promotes the investor confidence necessary to support strong U.S. capital markets.”
In an interview with Reuters, NASAA President Heath Abshure said “High-frequency trading clearly undermines retail investor confidence in the market.”
NASAA is urging Congress “to establish a committee to determine who uses HFT, their activities and its overall impact on financial markets," according to Reuters.
“Our agenda provides the new Congress with a roadmap to promote investor confidence by striking the most reasonable...
On Thursday, March 7, executives and guests from American Vanguard Corporation will visit the NYSE and ring The Opening Bell to commemorating the seventh anniversary of the company's listing on NYSE.
To mark the occasion, Eric Wintemute, Chairman and CEO of American Vanguard, will ring the NYSE Opening Bell.
About American Vanguard Corporation (NYSE: AVD)
American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000® and Russell 3000® Indexes and the Standard & Poor’s Small Cap 600 Index. To learn more about American Vanguard, please reference the...