OptionsCity Software, a leading provider of electronic trading solutions, today announced that the company has completed conformance testing with CME Europe, a new London-based derivatives exchange (subject to Financial Conduct Authority Approval) and wholly owned subsidiary of CME Group.
Upon the September 29, 2013 launch date of the exchange, and pending regulatory approval, OptionsCity will provide its clients that are members of the exchange with direct access to CME Europe.
"We are pleased to offer our customers access to trading futures on CME Europe," replied Hazem Dawani, CEO of OptionsCity Software. "Our direct connectivity will offer highly reliable access and further competitiveness for our clients, allowing them to capitalize on opportunities in new markets. This is a milestone in our expansion in Europe."
OptionsCity customers will be able to choose between trading the initial range of FX futures on CME Globex or by submitting block or EFPS trades via CME ClearPort for clearing. Clearing services will be provided by CME Clearing Europe, the London-based clearing house regulated by the Bank of England.
Customers will access products listed for trading on CME Europe via OptionsCity's Metro and Freeway platforms. Metro, the firm's flagship electronic trading and market making platform fully integrates with Freeway, a multi-asset automated trading platform that gives developers and traders a comprehensive development environment to create and back-test automated trading strategies, and execute trades to the market with micro-second speed.