Cboe Europe, the region’s largest equities exchange operator and a division of Cboe Global Markets (Cboe: CBOE), today announced that GAIN Capital (NYSE: GCAP), a leading global provider of online trading services, has signed a licence agreement to utilise Cboe’s suite of 18 UK benchmark indexes and the Cboe Brexit High 50/Low 50 Indexes for benchmarking against European markets and the creation of original products across their two leading trading brands; City Index and FOREX.com.
GAIN Capital also commissioned Cboe Europe to create two new sector benchmark indexes derived from the Cboe UK All Companies Index, the Cboe UK Banking and Investment Services and Cboe UK Mining and Mineral Product Indexes. City Index is planning to use these as underlying indexes for the creation of CFD instruments to trade on their platforms.
These indexes are expected to be a great addition to City Index’s current Brexit trading offering, which currently includes free SMS volatility alerts, FX pairs from 50p a point and a Brexit trading hub featuring the latest related news, market insights and expert analysis.
Chris Lodge, Senior Director of Private Client Desk at GAIN Capital said, “GAIN Capital is delighted to announce our working partnership with Cboe. European markets are evolving against a backdrop of unprecedented historical change and GAIN Capital is committed to providing our customers with suitable trading products that offer both liquidity and simplicity. The Brexit High 50/Low 50 Indexes represent a new opportunity for our clients to strategically manage risk and opportunity. We look forward to developing further unique and state-of-the-art instruments and remain committed to supporting GAIN Capital clients with industry-leading levels of customer service and technology.”
City Index is a global leader in Spread Betting, CFD Trading and Forex Trading. Providing trading opportunities on over 12,000 financial markets worldwide including FX, Indices, Commodities, Equities and Cryptocurrencies. Delivering competitive pricing and quality trade execution to traders for over 35 years, City Index offers award- winning trading platforms, powerful trading tools and expert market insight.
Shaun Baskett, Director of Index Sales at Cboe Europe, said: “We are excited to work with GAIN Capital on the development of two new sector benchmarks as they work to create unique trading products for their clients. Our Equity benchmarks provide real-time, high-quality data that allows customers to use them in a variety of ways from benchmarking to product creation.”
Cboe Europe offers 57 indexes (calculated in both price and net total return) across 15 markets, including 25 national indexes, five pan-European indexes, one pan-Nordic index, 24 sector indexes (12 UK sector indexes, 12 European sector indexes), and the two Brexit indexes. A full list of the exchange’s European indexes is available here.
Cboe Europe’s Equity Benchmarks provide investors and market participants with a real-time, high-quality, low-cost alternative to existing benchmarks. They perform closely in line with comparable benchmarks. The benchmarks are transparently calculated, designed and managed, and valued using Cboe’s own market data. This allows users to easily and accurately compare market, region and sector performance across Europe.
Customers across Europe ranging from asset managers, retail and institutional investors, investment banks, vendors and media, are using Cboe index data for various needs, including benchmarking, analytics, product creation and real-time presentation of market performance to inform investors and traders.
Customers have been attracted to the straightforward and simplified index licensing arrangements for these benchmarks. Cboe Europe’s indexes are currently available free of charge to media clients to distribute in real time. They are also free of charge to vendors and for benchmarking purposes.
Cboe Europe was registered in March 2018 as a Benchmark Administrator under the EU Benchmarks Regulation (BMR). Cboe Europe’s suite of European indexes are currently BMR compliant.
Additional information about Cboe’s indexes is available on the Cboe Europe Index website.
