BOCA RATON, Fla., March 11, 2015 /PRNewswire/ -- ICAP Information
Services (IIS), the information division of ICAP Plc (IAP.L), and
CME Group, the world's leading and most diverse derivatives
marketplace, have partnered with The Beast Apps Group to create and
deliver RapidRV, a real-time market data and analytics tool
designed to provide market participants with the capability to
analyze relative value opportunities between the Over-The-Counter
(OTC) and exchange-based futures markets.
"We're very happy to be partnering with CME Group and The Beast
Apps Group to provide these real-time products and services for the
futures and OTC markets," said Michael
Kirby, IIS Americas Director. "As a leading OTC
marketplace and data provider, ICAP is ideally situated to offer
clients a unique view into the most liquid OTC products."
RapidRV is built on The Beast Apps platform, a high speed market
data delivery tool and analytics engine. Users can view live
streaming futures prices from CME Group alongside OTC derivatives
and US Treasury securities pricing from ICAP Information Services'
GovPX and SwapPX products. This combination enables users to better
analyze the behavior and relative value opportunities between the
OTC and futures markets.
"CME Group is pleased to partner with ICAP and The Beast
Apps to bring our customers this innovative analytics tool,"
said Sean Tully, CME Group Senior Managing Director of
Financial and OTC Products. "We're always looking at new ways
to improve upon our customer experience and make our highly liquid
futures markets more efficient and accessible for all types of
participants."
RapidRV includes real-time displays and calculators to view
market data, relative values and hedge ratios between various OTC
markets and CME Group futures contracts. The product displays and
continually calculates opportunities between futures (CBOT
Deliverable Swap Futures, CME Eurodollar Futures and CBOT US
Treasury Futures) contracts and OTC products (Interest Rate Swaps
and US Treasuries). The product also displays hedge ratios for
multiple hedging strategies in addition to real time calculation of
the "cheapest to deliver" Treasury security for CBOT Treasury
Futures.
"The Beast Apps brings its unique package of cloud-based
delivery and unprecedented speed to the RapidRV product," said
Vinayek Singh, CEO of The Beast Apps. "All the analytics are fast,
but the ability to deliver the complex Swaption vol/premium matrix
in real time showcases that speed across all devices. Shown for the
first time here, we offer collaboration between RapidRV users of
applications in real time which takes peer-to-peer communication to
a new level."
The service is available as a monthly subscription which
includes market data fees from ICAP and CBOT exchange fees.
About IIS
ICAP Information Services (IIS) sits within ICAP's Post Trade
Risk and Information division which provides innovative services
that enable customers to reduce cost and risk, as well as to
increase efficiency, return on capital and capacity to process
trades.
About ICAP
ICAP is a leading markets operator and provider of post trade risk
mitigation and information services. Group companies provide
services that match buyers and sellers in the wholesale markets in
interest rates, credit, commodities, FX, emerging markets and
equity derivatives through voice and electronic networks. Through
its post trade risk mitigation and information services ICAP helps
customers manage and mitigate risks in their portfolios. For more
information, go to www.icap.com.
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform, its trading
facilities in New York and
Chicago, and through its
London-based CME Europe
derivatives exchange. CME Group also operates one of the
world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. KCBOT, KCBT and Kansas
City Board of Trade are trademarks of The Board of Trade of
Kansas City, Missouri, Inc.
All other trademarks are the property of their respective owners.
Further information about CME Group (NASDAQ: CME) and its products
can be found at www.cmegroup.com.
About The Beast Apps
The Beast Apps meets the demands of financial enterprises seeking a
Cloud SaaS platform. Forward thinking managers, in new or mature
enterprises, use our FrameIT framework and RadKit app development
to cost-effectively build the future of their businesses on AWS,
AZURE, or a private Cloud. The Beast Apps is neutral and
independent, with deep and broad domain expertise in finance and
technology, and has a consultative approach to every client
engagement. Our clients cover the entire range of professional
financial services including exchanges, banks, brokerages, market
data, analytics, EMS, OMS and risk.
CME-G
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/icap-and-cme-group-tap-the-beast-apps-group-to-deliver-rapidrv-market-data-and-analytics-tool-300048908.html
SOURCE CME Group