GMEX Exchange, a wholly owned subsidiary of GMEX Group is pleased to announce that the GMEX Interest Rate Swap Constant Maturity Index (“IRS CMI”) has been awarded Best Innovation by an Exchange for Regulatory Reform at 2015 Annual Futures and Options World (“FOW”) International awards.
The winners were unveiled at a gala dinner, bringing together the futures trading community, yesterday in London. The awards recognise the best and brightest in a range of industry categories from across the globe with the winners in each category decided by a distinguished, independent panel of industry practitioners.
This follows on from GMEX Group winning the FIA Innovators Award for providing forward-thinking solutions for the futures, options and cleared swaps industry at the FIA Chicago EXPO last month. The award was on the basis of applications that were submitted from across the globe and reviewed by a committee of industry experts assembled by FIA.
The IRS CMI underpins the Interest Rate Swaps Constant Maturity Futures (“IRS CMF”) contracts, backed and cleared by Eurex. The IRS CMF contracts bring the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and hedging of interest rate exposure. GMEX Exchange has signed a number of firms including Bank of America Merrill Lynch and Société Générale to trade the contract.
The contracts provides a much lower margin alternative to plain vanilla OTC IRS for hedging given the increased capital requirements relating to EU Commission’s mandatory central clearing and front loading rules for IRS. The new regulation will likely come into force in April 2016 with buy-side firms having six months to comply.
GMEX Exchange, a wholly owned subsidiary of GMEX Group is pleased to announce that the GMEX Interest Rate Swap Constant Maturity Index (“IRS CMI”) has been awarded Best Innovation by an Exchange for Regulatory Reform at 2015 Annual Futures and Options World (“FOW”) International awards.
The winners were unveiled at a gala dinner, bringing together the futures trading community, yesterday in London. The awards recognise the best and brightest in a range of industry categories from across the globe with the winners in each category decided by a distinguished, independent panel of industry practitioners.
This follows on from GMEX Group winning the FIA Innovators Award for providing forward-thinking solutions for the futures, options and cleared swaps industry at the FIA Chicago EXPO last month. The award was on the basis of applications that were submitted from across the globe and reviewed by a committee of industry experts assembled by FIA.
The IRS CMI underpins the Interest Rate Swaps Constant Maturity Futures (“IRS CMF”) contracts, backed and cleared by Eurex. The IRS CMF contracts bring the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and hedging of interest rate exposure. GMEX Exchange has signed a number of firms including Bank of America Merrill Lynch and Société Générale to trade the contract.
The contracts provides a much lower margin alternative to plain vanilla OTC IRS for hedging given the increased capital requirements relating to EU Commission’s mandatory central clearing and front loading rules for IRS. The new regulation will likely come into force in April 2016 with buy-side firms having six months to comply.
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