SuperDerivatives

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SuperDerivatives (2000-2014) was an American financial services company. It claims to have created the first real time option pricing tool delivered over the internet. The company was acquired by Intercontinental Exchange in 2014.[1]

Company[edit]

SuperDerivatives Inc. was founded in 2000 by a team of derivatives traders from Israel[2][3][4][5] with David Gershon as CEO.[6] Their idea was to create an online calculator for real-time options.[7] Gershon had been developing his own proprietary pricing and hedging models and technologies, and SuperDerivatives Inc. developed a model for options pricing.[6][7] In 2001, SuperDerivatives launched the first real time option pricing tool delivered over the internet. Within 2 years most of the banks that traded options around the world used the SuperDerivatives pricing system and the option pricing model was referred to by many as the “benchmark for options”. The availability of the system over the internet opened many new option markets such as in China, Indonesia, Thailand, Philippines, Turkey, Morocco, Dubai, Israel, Saudi Arabia, Mexico, Colombia, Poland, Russia, Slovenia, Slovakia. The users of the system included banks, hedge funds, corporations, brokers, central banks and auditors. The biggest contribution of SuperDerivatives was the fact that the transparency it created enabled many new market makers and takers to participate actively in the Vanilla and Exotic options market and as a result the bid-ask spreads shrunk and the liquidity and volume rose dramatically. Within less than 5 years SuperDerivative transformed the option market. In 2004, SuperDerivatives established a market data division publishing implied data from the OTC markets. This was followed by the launch of an independent valuation service.[8] In 2010, they created a cross-asset derivatives pricing, structuring and pre-trade analysis system, called SDX.[9] In 2011, they created a multi-bank trading system for FX options in partnership with FXCM Pro, called DCX.[10] In late 2012, they established a market data platform called DGX.[11] DGX was a free text data system with self configuration.

SuperDerivatives had eight global offices in Europe, APAC and Americas.

Mergers and acquisitions[edit]

In September 2014, Intercontinental Exchange announced that it had entered into a definitive agreement to acquire SuperDerivatives. The acquisition was said to accelerate the expansion of ICE’s comprehensive multi-asset class clearing strategy. Terms of the all-cash transaction included a purchase price of approximately $350 million. Completion of the transaction was subject to regulatory approval and other customary closing conditions. The transaction successfully completed on 7th October 2014.[1]

Awards and honors[edit]

  • 2013 Data Product Launch of the Year[12]
  • 2013 Best New Data Product[13]
  • 2012 Founder and CEO Dr. David Gershon inducted into the exclusive Inside Market Data Hall of Fame[14]
  • 2012 Best New Data Product (DataX Feed)[15]
  • 2011 Best Data Provider for Derivatives[16]
  • 2011 Best Pricing and Analytics in Forex[17]
  • 2011 Futures and Options World Awards. Best innovation in risk management[18]
  • 2012 FX Week Best Bank Awards. Best risk management and options pricing provider[16]
  • 2008 Best Vendor for Risk Management and Options Pricing Software award for fifth consecutive year[19]

References[edit]

  1. ^ a b "Intercontinental Exchange Completes Acquisition of SuperDerivatives" (Press release). Atlanta and New York: Intercontinental Exchange. BusinessWire. October 8, 2014. Retrieved January 29, 2019.
  2. ^ "בנית מנשה מירושלים - בזק b144". b144.co.il.
  3. ^ "Security Verification | LinkedIn". www.linkedin.com.
  4. ^ "The Team" – via fintech.huji.ac.il.
  5. ^ "Abraham Shrem from Israel".
  6. ^ a b "About Us". superderivatives.com. April 19, 2001. Archived from the original on 2001-04-19.. Note: text of "About Us" visible in the HTML source.
  7. ^ a b Melanie Wold (28 May 2012). "Inside Market Data Hall of Fame: David Gershon, 'The Physicist'". Inside Market Data (Waters Technology). Retrieved November 17, 2013.
  8. ^ Sophie Brown (1 March 2004). "SuperDerivatives launches risk system". Risk magazine. Retrieved November 17, 2013.
  9. ^ Farah Khalique (4 October 2010). "SuperDerivatives releases SDX". FC Week. Archived from the original on October 5, 2010. Retrieved November 17, 2013.CS1 maint: unfit url (link)
  10. ^ Hamish Risk (May 24, 2011). "SuperDerivatives option platform ready to go live in 2011". Euromoney. Retrieved November 17, 2013.
  11. ^ "SuperDerivatives to Launch DGX". Profit-Loss. 10 December 2012. Retrieved November 17, 2013.
  12. ^ "GlobalCapital's Derivatives service". www.globalcapital.com.
  13. ^ Flanagan, Terry (February 25, 2013). "2013 Market's Choice Award Winners".
  14. ^ "Inside Market Data Hall of Fame: David Gershon, 'The Physicist'". WatersTechnology.com. May 28, 2012.
  15. ^ "Inside Market Data Awards 2012 WINNERS special report". WatersTechnology.com. June 8, 2012.
  16. ^ a b "SuperDerivatives and Bloomberg scoop vendor awards". FX Week. November 19, 2012.
  17. ^ "Risk technology rankings 2011". Risk.net. December 8, 2011.
  18. ^ http://www.fow.com/Article/2936302/Features/26518/2011-FOW-awards-for-innovation-winners.html
  19. ^ "Past winners". FX Week Best Banks Awards.