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November 3, 2014

GMEX and Tradition Partnership | CMF Contracts

GDI, the index development subsidiary of GMEX Group, has entered into a strategic partnership with interdealer broker Tradition. 

In a GMEX-Tradition joint press release it was announced today that GDI, the index development subsidiary of GMEX Group, has entered into a strategic partnership with interdealer broker Tradition. 

GMEX will be using bid-offer data from Trad-X (Tradition's trading platform) for the calculation of a USD-version of the Interest Rate Swap Index Average Constant Maturity Index (IRSIA CMI). The USD CMI will underpin GMEX's USD-denominated Constant Maturity Future (CMF) contract.

The GMEX CMF is a unique product amid a growing number of swap-futures being offered by global exchanges. Though technically not a swap-future (as it is based on a constant maturity index), the CMF stands to gain from the same regulatory drivers that are driving demand for other futurized versions of OTC interest-rate derivatives.

Here is a comparison of the properties of the GMEX CMF contracts with other swap-futures.  


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