As the year draws to a close, we’re working harder than ever to build a market for you – a market that liberates fixed income futures markets for your benefit. “Winner takes all” is clearly not a structure that works for most customers, and the fixed income futures market is big enough to benefit from competition.
Fortunately, it’s exciting to see this now gaining momentum with more buy-side, PTGs, brokers and props joining CurveGlobal and trading in more volume on our order book and in the block market.
You’re making a difference!
Over the course of a year, it’s easy to lose perspective on just how far we’ve all come together. As an example, in the first six days of November 2018, you traded more than in the whole of November last year. Our share of Open Interest peaked in November – SONIA: 53%; Euribor: 3.1%; Three-month Sterling: 4.53%. All significantly higher and growing.
Thank you to all of the folks who have traded, connected, offered us advice, supported and encouraged us. It’s making a difference. We hope you are seeing it; and with it, the real benefits of competition.
- When we reduced the tick size in Three-month Sterling futures, it was quickly copied by one of our competitors. How does it help? This means that if you trade on ½ a tick for a similar percentage of the time, you’re now trading significantly closer to mid
- We launched the first Three-month SONIA future, and have a growing share of trading and Open Interest with our innovative Inter-Commodity Spread. So, you can trade LIBOR and SONIA risk at the same time and also margin them together with swaps
- Responding to customer demand to execute blocks at better prices, we allow people to trade with FRA-like precision in blocks but for futures products
Saving you even more money!
- CurveGlobal’s fee for SONIA futures trading is 2p less than the equivalent Three-month Sterling LIBOR future. We can do it because we are committed to passing on savings on our wholesale costs to our customers
- While the true costs of data are not always clear to the market, CurveGlobal continues to provide its data at no cost to its customers
- With the go-live of portfolio margining at LCH for long-dated bonds, we can offer unprecedented margin savings potential for our customers
It’s really not that hard a decision.
As Christmas is approaching, the team has been making sacrifices on your behalf again. Under my watchful oversight, we’ve been testing the major mince pie sellers.
After trying many of the major supermarket brands and bakers we can confirm...the worthy runners-up are Konditor and Cook but our Gold Pie Award for 2018 goes to Greggs (other brands of mince pie are available – believe us, we know…).
So now, as we prepare for the year-end, let me take this final opportunity to thank you – from us – for your support.
In terms of adding value, we’ve a game for you to play – who wouldn’t want to throw a snowball at mine or the irrepressible Mr Walker’s face? As you all know, throwing snowballs helps break the ice…Let us know your top score.
Merry Christmas and have a great New Year!