OneChicago Blocks & EFP Trading System
OCX.BETS® (Blocks and EFP Trading System) provides a competitive anonymous electronic trading platform for Block, Block Rolls and EFP trades. Additionally, OCX.BETS provides a reporting mechanism for pre-negotiated/voice brokered Block, Block Rolls and EFP trades.
Firms can choose to use either the provided OCX.BETS front end trading screen or write to the OCX.BETS API. Connectivity can be via internet, VPN, or a point-to-point connection. All communication is encrypted.
OCX.RiskMan is a risk control tool that requires all clearing firms to set various risk levels for their trading/reporting blocks and EFP on the OCX.BETS system. OCX.RiskMan prevents trades from occurring that violate clearing firm’s pre-determined trading limits including restrictions on products that the user can transact in, .i.e. restricted list functionality. Trades executed in the CLOB (central limit order book) on CBOEdirect are neither included nor impacted by OCX.RiskMan.
OCX.BETS Front End Trading Screen
Access to all functionality is available through the provided front end trading screen. Most users will find that internet connectivity meets their needs, those users that opt for VPN or point to point connectivity will be responsible for those charges.
- • OCX.BETS terminals are $500 per month unless they are used to trade/report products resulting in $1,000 in execution fees that month
- • OCX.BETS APIs are $2,000 per month unless they are used to trade/report products resulting in $4,000 in execution fees that month
As shown below, the OCX.BETS front end provides an intuitive full featured trading screen to access the OCX.BETS marketplace.
Application Programming Interface (API).
The OCX.BETS API provides the customary trading API functionality including order entry, and fill notification. It also supports reporting bi-lateral deals that were conducted outside of the OCX.BETS trading book. Generally, OCX.BETS market making or reporting large numbers of bi-lateral trades can be best accomplished through the API.
Each API login will be charged $2,000 per month unless 24,000 or more contracts are traded on OCX.BETS that month.
Bi-lateral and book executed trades may be entered for any acceptable size for the trade type (Blocks minimum size is 100 contracts; Block Rolls minimum size is 50 contracts per leg, EFPs minimum size is 1 contract)
For information relative to EFPs please refer to our educational brochures & tutorial available at www.onechicago.com