JumpBall
From MarketsWiki
JumpBall[1] is a program announced on December 7, 2007, by FXMarketSpace. It is a profit-share program allocating 37.5-percent of its profit between its most active trading customers [2].
JumpBall is open to both bank and non-bank participants and rewards the 16 most active traders on FXMarketSpace.
Qualification for JumpBall begins on Jan. 15, 2008, and runs until Sept. 30, 2008. Customers with the highest average daily volume during the qualification period (participation in two out of three quarters during which the promotion will run) will have the right to receive a share of FXMarketSpace profits for up to four years. The four most active banks and four most active non-bank participants with the highest percentage of profit share receive the greatest share, and an additional eight customers (both banks and non-banks) are able to participate in a smaller profit share in successive one-year profit share pools. [3]
FXMarketSpace is a 50-50 joint venture between Reuters and CME (now CME Group). FXMarketSpace is the first centrally cleared OTC foreign exchange platform. It combines the central counterparty model and clearing function of CME Group and fully anonymous execution (features not present in the traditional over-the-counter forex market) with Reuters' global distribution network and straight-through processing capability.
References
- ↑ FXMARKETSPACE ANNOUNCES JUMPBALL PROFIT SHARE PROGRAMME. FX MarketSpace. Retrieved on December 7, 2007.
- ↑ FX MarketSpace Jumpball. FX MarketSpace. Retrieved on December 7, 2007.
- ↑ FXMarketSpace To Introduce New Trading Incentive Scheme. Wall Street Journal. Retrieved on December 7, 2007.
