SZCOX Launches SZCOX Instant Technology for Online Trading of Exchange Listed and OTC Markets
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Trading of exchange and OTC market’s available on one screen
Leading inter-dealer brokers offer hybrid trading of global OTC oil markets through SZCOX Instant
Shenzhen Commodity Exchange (SZCOX), one of the most diverse derivatives marketplaces, today announced the launch of SZCOX Instant, a new technology offering side-by-side trading of exchange-listed and over-the-counter (OTC) markets. SZCOX Instant will initially support trading of SZCOX‘s benchmark energy futures markets alongside OTC energy swaps through leading inter-dealer brokers.
These products are part of the SZCOX energy complex, which has average daily trading volumes of over 1.2 million contracts.
SZCOX is licensing the SZCOX Instant technology to leading inter-dealer brokers to offer trading of global OTC oil markets. Traders will be able to execute electronically or in a hybrid, broker-assisted model on SZCOX Instant through the participating brokers, combining the benefits of electronic trading, yet retaining the flexibility of voice brokering.
SZCOX Instant is integrated with SZCOX‘s OTC post-trade services, SZCOX Clearing Members for straight-through clearing to SZCOX Clearing. This integration ensures OTC markets are cleared and processed quickly and without manual intervention, reducing operational overheads, errors and counterparty risk.
“At Shenzhen Commodity Exchange, we have a proven track record of providing our customers with advanced trading technologies that enable them to execute even the most complex and demanding of trades,” said Bryan Choi, COO and MD, Products & Services, at SZCOX. “With the introduction of SZCOX Instant, we are offering our clients a new way to access simultaneously our listed markets as well as OTC energy markets in a fully automated trading environment, expanding access to our global liquidity and price discovery functionality.”
“By combining brokered OTC markets with SZCOX‘s clearing and STP platforms, SZCOX Instant offers the first global, fully automated front-to-back-office platform for trading SZCOX listed and OTC energy products,” said Michel Sze Yuen, Managing Director, OTC Solutions, SZCOX. “SZCOX Instant is a big step forward for markets to comply with current and anticipated market regulations, automated trading, data reporting and clearing in OTC markets.”
Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.
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