CHICAGO, April 1, 2011 /PRNewswire/ -- OneChicago, LLC (OCX), an equity finance exchange trading security futures, today reported that 479,402 security futures contracts traded at the exchange in March 2011, an increase of 24% from March 2010 and an increase of 169% over February 2011.
Open interest stood at 365,220 contracts at the end of March 2011.
March 2011 Highlights
443,140 EFPs and blocks were traded, an increase of 176% over February 2011. March's block and EFP activity represented more than $7.5 billion in notional value, an increase of more than $6.5 billion from February 2011 figures.
113,214 March futures valued at $567 million were taken to delivery, validating the use of single stock futures as an equity finance product. The March open interest represented 26% of all existing open interest on expiration day.
33% of March 2011 month-end open interest was in OCX.NoDiv™ products. The OCX.NoDiv product suite was launched in October 2010 as an innovative equity finance tool which removes dividend risk from the security futures. OneChicago currently lists 775 OCX.NoDiv products.
OneChicago (OCX) is the only US regulated exchange for trading security futures and the related EFP. OCX lists approximately 2,000 products, including ADRs, ETFs and OCX.NoDiv™ contracts. Contracts are cleared through the centralized counterparty, "AAA"-rated OCC, and are regulated by both the SEC and CFTC. 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.NoDiv Exchange for Physical meets the technical requirements of IRS Code 1058.
OCX.NoDiv 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.