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A VIX for APAC:
Building a regional volatility benchmark

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CSDR: promising signs from the new settlement discipline regime

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Directed market makers:
another path to internalization?

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An illustrated guide to price controls on US exchanges

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Market structure

  • Market structure

    A VIX for APAC: Building a regional volatility benchmark

    Despite the growing popularity of Asia-Pacific markets, investors in the region lack a volatility benchmark on par with the Cboe Volatility Index or the Euro Stoxx 50 Volatility Index. We believe the Nikkei Stock Average Volatility Index (NKVI) is the most promising candidate to become a leading gauge for APAC. However, to date, methodological shortcomings […]

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    APAC
  • Market structure

    Optiver joins Aquis Exchange as liquidity provider For European stocks
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    EMEA

  • Market structure

    Options market maker protections: a best-in-class approach
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    Global

  • Market structure

    Three ways to keep Europe’s retail investors investing
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    EMEA

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Regulation

  • 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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    EMEA
  • 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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    Global
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Market views

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Explainers

Read our thought leadership pieces, industry news, market structure insights and more.

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    Explainers

    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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  • 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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    Explainers

    Options volatility

    Volatility is an important concept in the context of option trading, but it’s also one of the more complex ones to understand. In financial markets, volatility captures the amount of fluctuation in asset prices and is generally calculated as the annualized standard deviation of daily price changes, normally expressed as a percentage. To convert the […]

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  • Series
    Explainers

    Options pricing

    The Options Basics Explainer introduced the concepts of call and put options, strike price, expiry, and long or short positions in an option contract. This page looks in more detail at option pricing. In the money or out of the money? Preview in new tab An option is a derivative contract that derives its value […]

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  • Series
    Explainers

    Option Greeks

    The Option Greeks are a collection of variables that measure the sensitivity of option prices to changes in underlying factors . Mathematically, they are derivatives of components of option pricing models. Each factor has a Greek letter assigned to it, hence the name ‘Greeks’.

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@optiverglobal

Optiver on Twitter

When #stocks turn volatile, exchanges have tools to help bring them under control.

One is the market-wide circuit breaker. It’s triggered when $SPX falls 7%, 13% or 20% from the previous session’s close.

Here are 5 things you should know about MWCBs: https://optiver.com/explainers/5-things-you-should-know-about-market-wide-circuit-breakers/

#Settlement fails cost the securities industry billions of dollars a year. As part of our commitment to improving financial markets, Optiver is working with SWIFT and our industry peers to improve the post-trade process.

Read more here:
https://www.swift.com/news-events/news/introducing-swift-securities-view

Don’t doubt the #dollar. Following the Federal Reserve’s 75 basis-point rate hike last week, the greenback continued its seemingly inexorable rise. Thanks to aggressive monetary tightening in the US, the Bloomberg Dollar Spot Index is now sitting at a record.

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