SLT: OneChicago CEO cites securities lending in 2013 success

Chicago | 06 January 2014
Equity finance exchange OneChicago has confirmed a December 2013 volume of 1,174,205 and a total volume of 9,515,194 for 2013.

David Downey, CEO of OneChicago, said: “It is very simple. Lowering your cost structure provides higher yields and a competitive advantage. Customers using the security futures products are able to carry equity positions on much more favorable financing terms than traditional margin loans while allowing the customers to capture the benefit from the value of the position in the securities lending markets.”

In December open interest stood at 489,272 contracts on the equity finance exchange at close-of-market, and 1,155,399 Exchange Futures for Physicals and blocks were traded. December 2013 EFPs and blocks activity represented $5.7 billion in notional value.

Downey said: “2013 was a breakout year for the [security futures] product as customers began to grasp this concept. In addition, CTA participation increased dramatically as we were successful in introducing the futures side of the world to the vast liquidity pools on the equity side. We anticipate this will expand in the years to come.”

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