OneChicago, a securities finance exchange, announced its December 2017 volume of 1,032,176, a decrease of 23% year-on-year. OneChicago is a CFTC and SEC regulated exchange offering Single Stock Futures (SSF), a Delta One product, on approximately 1,800 equities, including ADRs and ETFs.
“The decline in volume is related to certain customers shifting their activity to Europe where our innovative products have been copied and are offered using the US invention of risk-based margin as opposed to the strategy-based margin jointly imposed by the CFTC and the SEC. A rulemaking request to address this divide has been pending at the commissions for nine years without any resolution. Strangulation through regulation is not the way to foster innovation”, explained David Downey, CEO.