European Trading Venue
of the Year
|Click the screen for a video of the award presentation.|
Bclear, which is run by the stock exchange group Liffe-NYSE Euronext, was developed in response to the burgeoning over-the-counter (OTC) market for equity derivatives in Europe. As the market grew, so did the risks and Bclear was built to reduce these risks by offering exchange-based clearing for derivatives that had been traded away from exchanges. A notional value of €1.8 trillion has been processed between January and October 2008 via Bclear. Aside from being a successful product in its own right, Bclear also embodies the new spirit of product innovation that exchanges are now fostering as the market becomes increasingly competitive in terms of execution venues. ITG
ITG launched Posit Alert into its suite of crossing products, called Posit, in Februrary. It is designed to increase block trading opportunities in Posit and provide other advantages, such as a diverse liquidity pool and automated participation in crossing lists or single stocks. Judges liked the functionality of Posit Alert and its relevance in helping clients to access increasingly hard to seek liquidity, earning ITG the citation.