New York, Tuesday 7 June, 2022 – ED&F Man Capital Markets’ OptionsLive, a market leading trading application for Chicago Mercantile Exchange (CME) Interest Rate Options, has announced its release of Secured Overnight Financing Rate (SOFR) Options Trading algos and analytics for institutional clients including, banks, hedge funds, FCM’s and asset managers.
The addition means OptionsLive is one of the first movers in the industry to provide algos and analytics around SOFR Options Trading as the market transitions away from US dollar LIBOR-linked futures and options, before they are phased out in mid-2023.
OptionsLive gives traders and brokers the entire suite of CME Interest Rate Futures, including Treasuries, Eurodollars and now SOFR, as well as the ability to design, price and trade any option structure using its proprietary algos, yielding money saving fractional execution when available.
The SOFR trading capability, which executes through one of the world’s leading OMS systems, with full risk controls and post trade account management features, was soft launched in early April and is now available to all OptionsLive clients.
Chris Smith, Global CEO of ED&F Man Capital Markets, said: “We are delighted to see the official launch of the SOFR offering on OptionsLive at such a crucial time for the industry as we continue the transition away from US LIBOR to the new benchmark interest rate of SOFR.
“OptionsLive is the first application that allows traders to view in real-time any SOFR Option structure, with live streaming of volatilities, option Greeks and synthetic fractional pricing.
“OptionsLive also gives you the entire suite of CME Interest Rate Futures, with full risk controls and post trade account management features. Some of our institutional clients are already making great use of the platform and we are encouraging others to try it out.”