• Single stock and index derivatives flow volatility businesses (options and futures on equities, indexes and ETFs)
• Delta 1 Strategies (index and stock futures, dividend futures, Total Return Futures (TRF), financing, synthetics, rolls, etc.)
• Exotics (including variance swaps, basket options etc.

Providing agency execution and liquidity solutions across a broad range of equity derivative products, with a core focus on MSCI futures (Number 1 in MSCI contracts on EUREX). With operations in EMEA, US and APAC.

This business is sub-divided into the below areas:

• Equity Derivatives – Delta One: Global, Americas
• Equity Derivatives – Exotics / Volatility: Global, Americas
• Equity Derivatives – Index Securities: Delta One, Emerging Bonds / Light Exotics, Volatility
• Equity Derivatives – Asian Markets: Delta One, Volatility

The OTCex business provides agency execution across Equities, Equity Options and Futures.

• Delta 1 Strategies (Index Futures, Dividend Futures, Equity Flex Options, Financing, Synthetics, etc.)
• OTC & Exotics (Variance Swaps, Dispersion/Dividend Products, tailor-made OTC solutions)

Our Equity derivative businesses service investment banks, market makers, hedge funds, Proprietary Trading firms, Financial Institutions, Asset Managers and other inter-dealer broker (IDB) market participants.

Execution and clearing services in exchange traded derivatives:

• Industry-leading agency trade execution services for global exchange traded derivates. Expert price discovery, superior trade execution, timely trade confirmation and real-time, insightful market intelligence

XFA connects clients to deep liquidity pools from market makers, proprietary trading units, and investment banks, ensuring anonymity and efficient trade execution. XFA’s customers operate across Europe, North America and Asia including global financial services firms and some of the world’s largest hedge funds, institutional investors, commodity trading advisors (CTAs) and market maker.