Recent content by OneChicago

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    For The First Time Ever, IB Clients Are Net Short The Market

    David Portnoy's reply to cnbc feed is the perfect ending to 2020.
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    When do SSFs on OneChicago get market makers for the June contracts?

    Yes. Comments are still accepted. Best David
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    When do SSFs on OneChicago get market makers for the June contracts?

    Sec Lending is not a tax deferral issue. It is maintaining the original basis in appreciated assets. It is my intention to keep the exchange open into 2020. If that changes I will let you know. Best David
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    When do SSFs on OneChicago get market makers for the June contracts?

    No taxpayer would ever use any option strategy to lend their securities. Only those who take mark to market accounting find the options of use via rev/con. Best David
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    When do SSFs on OneChicago get market makers for the June contracts?

    Anyone can comment.
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    When do SSFs on OneChicago get market makers for the June contracts?

    You could always send in a comment to the CFTC or SEC on their joint rulemaking regarding margins. Even if you don't agree with my position it is important for the Commissions to understand all views. It is in their hands at this point and when they come out with final rules I will certainly...
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    When do SSFs on OneChicago get market makers for the June contracts?

    That would be a travesty. It is retail who pays the highest financing rates. If we can get to risk based margin then the product becomes more attractive to market makers who are not self clearing entities. As these groups are considered 'customers' of a clearing firm they are subject to...
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    When do SSFs on OneChicago get market makers for the June contracts?

    Monthly spread activity will continue but I am not sure any broker will allow you access. The issue is Securities Lending. See our discussion on STARS. Best David
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    When do SSFs on OneChicago get market makers for the June contracts?

    Hello all, The screens are going to go dark after December expiry. If you want to understand why you can read here: https://www.sec.gov/comments/s7-09-19/s70919.htm Best David
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    Short borrowing costs

    Today's rate to borrow is ~3.85%. To get your effective borrow you subtract that interest rate from the rate your brokerage pays you for idle cash balances.
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    Single stock futures -- do they trade?

    Ah, there are ways to accelerate expiries. Exchange of Future for Physical was the historical transaction for this and it remains available but severely limited. We use to offer them but the SEC didn't like it so we came up with a new transaction. Securities Tranfer and Return Spreads or...
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    Single stock futures -- do they trade?

    I do appreciate your concern but you seem to be missing something. If one party is paying 3bps then another party is earning them. For customers who are getting 1.8% for idle cash the extra 120 bps would indeed seem attractive. For those with HTB names in their cash accounts they could be...
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    Single stock futures -- do they trade?

    Hello, Rumors of the death of SSF are exaggerated. https://ftp.onechicago.com/market_data/trade_history/ The above link is updated intraday at 15 minute intervals. It shows exchange activity and if you are a trader looking for buy/sell opportunities OneChicago is not the place. I have...
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    Dividend Rolls or Swap Contracts on Dividends

    These transactions were called 'Yield Enhancement Trades" and were effectively eliminated by the enactment of IRS rule 871(m). The US Delta 1 trade desks would enter into a Securities Lending transaction with the Off-Shore party. The Off-Shore would deliver the stock just before record date...
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    ex-dividend date on closed nyse day

    http://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2018-99
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