FNX has added enhanced exotic options capabilities to Sierra Margin, the company’s cross-product, collateralised trading solution. Sierra margin is fully integrated with Sierra’s FX cash, FX options, commodities and precious metals modules, to provide users with real time, high volume, monitoring of margin clients at individual, local and global levels.
The enhanced exotic options product coverage includes the addition of average rate options, digitals, dual digitals, dual barriers and window options. The company says that Sierra Margin functionality includes the acceptance of multiple collateral types and the ability to define haircuts based on instrument and currency. Colour-coded, real time screens notify traders and risk managers of margin call or margin cut situations, to enable them to track information up to the transaction level.
Paul Gibson, FNX’s managing director, EMEA, says, “Over the last year we have seen a heightened international interest in collateralised trading. Global buy and sell side market players are recognising the powerful advantages of using collateralised trading as part of their risk management activities. As collateralised trading expands to include new product groups, Sierra Margin, as an integrated part of Sierra System, will be well positioned to handle the global challenges associated with cross-product collateralised trading.”