CHICAGO and LONDON, Aug. 16, 2011 /PRNewswire/ -- OneChicago (OCX), a US equity finance exchange and FFastFill, a leader in providing Software as a Service (SaaS), today announced that the exchange has certified FFastFill as an independent software vendor (ISV). As a OneChicago ISV, FFastFill will provide their customers software to support direct market access to OneChicago's fully electronic marketplace via the CBOEdirect API for order placement and related market data.
As financial firms are looking for a better way to navigate the changing derivatives regulatory landscape, having access to OneChicago will allow FFastFill clients to execute orders via a SaaS trading platform with complete, front-to-back support and risk management.
"We are pleased that FFastFill's customers will now have full access to OneChicago's marketplace. FFastFill's unique pre-trade risk management together with their ASP solution offers clients the ability to trade global markets locally," said Tom McCabe, Chief Operating Officer at OneChicago.
Ryan McElvogue, Managing Director of FFastFill, said, "The decision to reach out to OneChicago resulted in a direct response to customers demand for access to OneChicago's cost effective products. The changing environment requires firms to look for more effective ways to participate in the equity markets. OneChicago is one of those places."
OneChicago (OCX) is the only US equity finance exchange for trading security futures and the related EFP. Regulated by the SEC and CFTC, OCX lists approximately 2,745 products, including ADRs, ETFs and OCX.NoDivRisk™ contracts. Contracts are cleared through the centralized counterparty, "AA+"-rated OCC. Security futures, a Delta one product, are utilized for synthetic equity strategies including equity swaps, equity repos and stock loan/borrow transactions. The OneChicago OCX.NoDivRisk, Exchange for Physical transaction is economically equivalent to a Securities Lending Transaction.
OCX.NoDivRisk contracts are security futures with dividends removed from the pricing as the future's price is adjusted down by the value of the dividend on Ex-date.
FFastFill is the leading provider of Software as a Service to the global derivatives community with using the latest developments in technology to automate trade flow processes across a firm's front, middle and back offices. FFastFill's solutions encompass electronic order routing, clearing, risk management and back office as part of an integrated, yet modular system architecture. FFastFill is traded on London's AIM (AIM: FFA)