Boca Raton, Fla, 11 March 2015 – 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. Start your free trial today.
||CME Group Inc.
||The Beast Apps Communications
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. For more information go to www.icapinfo.com.
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.