Insights
Not just PFOF: Another anti-competitive threat to European markets
Volatility views: November CPI print carries potential for elevated volatility
Central banks dominated 2022: year in review
Optiver’s Sumit Kendurkar
on European markets
Market structure
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Market structure Not just PFOF: Another anti-competitive threat to European markets
Payment for order flow is starting to attract real attention, but we think there’s a more insidious threat to retail investors out there.
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Market structure
Strengthening the capital rules at Taiwan Futures Exchange
Learn moreAPAC
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Market structure
The verdict is in for Eurex’s passive liquidity protection
Learn moreEMEA
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Market structure
A VIX for APAC: Building a regional volatility benchmark
Learn moreAPAC
Latest
Regulation
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Market regulation, Regulatory comments and consultations SEC comment letter: order competition rule
Optiver comments on the SEC’s proposed order competition rule.
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Market regulation, Regulatory comments and consultations SEC comment letter: amendments to regulation NMS
Optiver comments on the SEC’s proposed amendments to Regulation NMS.
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Market regulation CSDR: promising signs from the new settlement discipline regime
Cash penalties introduced under the Settlement Discipline Regime (SDR) are working, early data and anecdotal evidence show. With market participants already incentivized to get their post-trade in order, mandatory buy-ins could introduce fresh risks into the process.
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Market regulation A better way to measure best execution
Regulators have suspended RTS 27 reporting and are considering scrapping the requirement to produce RTS 27 and RTS 28 reports altogether. These reports are designed to show the extent to which investors in the U.K. and EU receive best execution for their trades, and they do have some issues in their current form. Instead of scrapping them altogether however, we advocate for making them more useful and less cumbersome to produce.
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Market regulation Portfolio compression in centrally cleared markets
Portfolio compression is a post-trade balance sheet reduction technique in which two or more counterparties terminate some (or all) of their open interest in derivative contracts, simplifying the management of positions. This frees up valuable capital that would otherwise be held unnecessarily against offsetting positions that could be compressed. The end goal of compression is a cleaner portfolio, with less complexity and enhanced capital efficiencies, allowing for healthier and safer derivative markets.
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Market views
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Market views Volatility views: Banking stress raises potential for volatile Fed decision
Recent market turmoil has options traders anticipating significant swings around the March 22 FOMC statement.
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Market views
Central banks dominated 2022: year in review
Learn moreAmericas, EMEA
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Market views
Volatility views: November CPI print carries potential for elevated volatility
Learn moreAmericas
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Market views
Optiver’s Sumit Kendurkar on European markets
Learn moreAmericas, EMEA
Latest
Explainers
Read our thought leadership pieces, industry news, market structure insights and more.
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Explainers Orders and the order book
While orders may or may not ever become actual trades, they’re the building blocks of some of trading’s most important concepts.
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Explainers How today’s stock markets work
Beginning with an order, all the way through to clearing and settlement, here’s what you need to know about how billions of shares change hands every day.
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Explainers A guide to how the European Union makes financial laws
It can take years for proposed rules to become law in the European Union. Here’s our step-by-step guide to how it happens.
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Explainers 5 things you should know about: market-wide circuit breakers
Market-wide circuit breakers are triggered by rapid and extreme price declines in the S&P 500 Index, a widely-followed benchmark for US equities.
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Explainers An illustrated guide to price controls on US exchanges
Well-designed price controls are key in our view to preserving orderly and efficient markets. Given their complexity, we present this overview of the various mechanisms in place across U.S. exchanges.
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SeriesExplainers Call options
What do long/short positions in call options mean? An investor that buys call options benefits when the price of the underlying asset is higher than the strike price of the option at expiry. The writer of the call option has the opposite pay-off potential and receives a fixed option premium when they sell the contract.
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Series
Explainers Put options
An investor that buys put options benefits from this position when the price of the underlying asset is lower than the strike price of the option at expiry. Conversely, if at expiry the price of the underlying asset is higher than the strike price, the option expires with no intrinsic value and the investor’s loss is equal to the option premium paid.
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SeriesExplainers Options strategies (protective put & covered call)
Besides buying or selling single options, there are many other possible strategies that involve positions in multiple options simultaneously, as well as combining options with positions in the underlying assets.
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Series
Explainers Options strategies (protective collar)
Besides buying or selling single options, there are many other possible strategies that involve positions in multiple options simultaneously, as well as combining options with positions in the underlying assets.
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Series
Explainers Options strategies (long straddle)
Besides buying or selling single options, there are many other possible strategies that involve positions in multiple options simultaneously, as well as combining options with positions in the underlying assets.
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All Insights
Optiver on Twitter
The events of the past few weeks have raised the stakes for Wednesday’s Federal Reserve decision. #Options markets are anticipating considerable #volatility whatever the outcome.
Check out our analysis: https://optiver.com/insights/volatility-views-banking-stress-raises-potential-for-volatile-fed-decision/
We are proud to announce the completion of a new round of strategic equity funding led by Optiver to support the launch of MEMX Options in August. Read more in the press release here: https://memx.com/news/
We’re proud to be the lead investor in the equity round supporting launch of the @memxtrading Options exchange.
Learn more here: https://optiver.com/optiver-leads-investment-round-in-memx-options-exchange/