Patsystems looks to exploit single stock futures
Patsytems, a developer of electronic platforms, has launched a new product connectivity for the trading of single stock futures (SSF).
The London International Financial Futures and Options Exchange (Liffe) has been trading SSFs since January, calling them universal stock futures (USF). Trading of the contracts in the US is currently illegal at a consumer level. But the law banning them is due to be repealed in December. The Chicago Board Options Exchange (CBOE) said in March that it intends to trade SSF as soon as legally possible.
Jacques de Cock, chief executive of Patsystems, claimed the new system will enable convergence of the global derivatives and equities markets. “J-Stox creates a powerful combination of derivatives and equity trading, developed to provide all existing clients with the capability to actively trade SSFs and the underlying equity in the US, from a single screen,” said de Cock.
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