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OneChicago Launches ETF Futures Listings

Clearing Quarterly and Directory, March 19, 2008

John Hintze

OneChicago, an electronic exchange specializing in single-stock and other securities futures, began listing in December futures on three major exchange-traded funds (ETFs). It is a move that it hopes will push clearing firms to begin clearing securities futures products. The exchange has faced an uphill battle since it opened its doors in November 2002, mainly because the vast majority of clearing firms have yet to retool their operations to clear the products in securities accounts. Securities futures can be placed in futures accounts as well as securities accounts, such as portfolio margin accounts, where they can be used to achieve significant margin reductions.

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