OneChicago, the all-electronic, single-stock futures exchange that is jointly owned by the Chicago Board Options Exchange, Chicago Mercantile Exchange and Chicago Board of Trader, is scheduled for launch on Oct. 25 -- pending regulatory approvals. All of OneChicago's products -- including 85 SSF contracts and 15 narrow-based indices -- will be traded electronically via the CBOE's CBOEdirect matching engine. Before trading can begin, the Securities and Exchange Commission (SEC) must approve OneChicago's customer margin rules. In addition, the SEC and the Commodity Futures Trading Commission must approve the language of the risk disclosure statement that all firms will be required to send to their customers to permit trading in security futures.
The International Securities Exchange, the all-electronic, U.S. equity-options market, has launched ISEline -- a Web-based instant-messaging system that provides direct, real-time between various ISE market participants. The system has been built to enhance the level of automated information sharing between the ISE and its member firms.
SIS Swiss Financial Services Group has signed a networking agreement with Radianz. The deal calls for clients of SIS to use RadianzNet, Radianz's global financial extranet, to access the Swiss firm's electronic settlement and clearing services.
CyberTrader Inc., a direct-access broker, has restructured its pricing and has upgraded its Web platform in an effort to penetrate further into the active trader marketplace. CyberTrader.com, CyberTrader's Internet-based trading system, charges clients $9.95 per trade, and now features streaming real-time market data and intelligent order-routing capabilities.