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  • Mercari
    execution facility having held an Australian Market Licence since 2005 Mercari eSEF is now licensed to operate markets for energy commodity and environmental derivatives since December 2010 in addition to interest rate and foreign exchange derivatives Participation in the Mercari eSEF market is available to wholesale and professional investors Participation enables the electronic trading of any available listed product In addition authorised participants may contact the Mercari eSEF team to request listing of additional OTC products The Role of the Mercari eSEF Over the counter OTC or privately negotiated derivatives are largely traded via the telephone but are increasingly traded on electronic platforms and executions facilities Recently the legislative bodies of G20 nations notably those of North America Europe and key parts of Asia moved to enhance the robustness of these OTC derivatives markets through enhanced regulations These global financial reform initiatives seek to achieve several key policy objectives for the OTC derivatives markets including but not limited to increased transparency improved market efficiency enhanced electronic audit trails and limitation of market abuse A key lever to achieve these policy objectives is the swaps execution facility SEF an electronic platform for the trading and management of OTC derivatives According to the Wall Street Reform and Consumer Protection Dodd Frank Act a SEF is a facility trading system or platform in which multiple participants have the ability to execute or trade swaps by accepting bids and offers made by other participants that are open to multiple participants in the facility or system As can be seen the policy objectives for SEFs is to provide pre and post trade transparency encourage competitive execution for the entire institutional marketplace and to provide the tools required to ensure a complete record and audit trail of trades Mercari eSEF is licensed to provide a regulated

    Original URL path: http://www.mercari.com.au/ (2015-10-07)
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  • Mercari
    execution facility having held an Australian Market Licence since 2005 Mercari eSEF is now licensed to operate markets for energy commodity and environmental derivatives since December 2010 in addition to interest rate and foreign exchange derivatives Participation in the Mercari eSEF market is available to wholesale and professional investors Participation enables the electronic trading of any available listed product In addition authorised participants may contact the Mercari eSEF team to request listing of additional OTC products The Role of the Mercari eSEF Over the counter OTC or privately negotiated derivatives are largely traded via the telephone but are increasingly traded on electronic platforms and executions facilities Recently the legislative bodies of G20 nations notably those of North America Europe and key parts of Asia moved to enhance the robustness of these OTC derivatives markets through enhanced regulations These global financial reform initiatives seek to achieve several key policy objectives for the OTC derivatives markets including but not limited to increased transparency improved market efficiency enhanced electronic audit trails and limitation of market abuse A key lever to achieve these policy objectives is the swaps execution facility SEF an electronic platform for the trading and management of OTC derivatives According to the Wall Street Reform and Consumer Protection Dodd Frank Act a SEF is a facility trading system or platform in which multiple participants have the ability to execute or trade swaps by accepting bids and offers made by other participants that are open to multiple participants in the facility or system As can be seen the policy objectives for SEFs is to provide pre and post trade transparency encourage competitive execution for the entire institutional marketplace and to provide the tools required to ensure a complete record and audit trail of trades Mercari eSEF is licensed to provide a regulated

    Original URL path: http://www.mercari.com.au/index.php (2015-10-07)
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  • Mercari
    assistance please email ops mercari com au For general customer or participation enquiries please email info mercari com au Mercari Level 1 7 Bridge Street Sydney NSW 2000 Australia t 61 2 8024 5200 f 61 2 8024 5234 e info mercari com au w www mercari com au PRODUCTS AND SERVICES eSEF TECHNOLOGY TRADING MERCARI MARKETS REGULATORY FRAMEWORK MERCARI ENERGY Mercari operates regulated electronic market places and swaps execution

    Original URL path: http://www.mercari.com.au/contactus.html (2015-10-07)
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  • Mercari
    in a dynamic and entrepreneurial environment unique career opportunities Candidates who possess OTC and capital markets experience combined with outstanding analytical interpersonal and communication skills are invited to join the dynamic team Interested persons are invited to send contact details and a short resume to careers mercari com au PRODUCTS AND SERVICES eSEF TECHNOLOGY TRADING MERCARI MARKETS REGULATORY FRAMEWORK MERCARI ENERGY Mercari operates regulated electronic market places and swaps execution

    Original URL path: http://www.mercari.com.au/careers.html (2015-10-07)
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  • Mercari
    麦卡利eSEF完全符合上述定义的要求 作为一个持牌互换交易执行市场 麦卡利eSEF的金融市场牌照 Australian Market Licence 是2005年获得颁发的 目前经批准 麦卡利eSEF可经营的市场交易产品除了利率和外汇衍生品外 从2010年12月起 还增加了能源 商品和环境金融衍生品 麦卡利eSEF市场参与者必须是专业和机构投资者 市场参与者可以参与所有挂牌交易产品的电子交易 除此之外 获得授权的市场参与者可以与麦卡利eSEF工作团队联系 要求增加其它种OTC市场交易合同产品 麦卡利eSEF的职能 场外交易 OTC 市场或者也被称为 私下洽谈成交 的金融衍生品业务大部分是通过传统电话联络进行的 但目前越来越多的OTC市场交易业务是通过电子系统平台和执行市场来进行的 最近以来 二十国集团国家的立法部门 特别是北美 欧洲和亚洲地区一些重要国家的立法部门 加强了监管立法 确保OTC金融衍生品市场得以健康发展 全球范围内针对OTC金融衍生品市场监管立法改革方面推出了各种新方案 这些方案所寻求达到的关键目标主要包括但不局限在以下方面 增加市场交易透明度 提高市场交易效率 完善交易成交的电子跟踪审计功能 限制滥用交易市场的不良行为 取得上述目标的一个关键手段就是要使用互换交易执行市场 SEF 也就是说通过一个电子交易平台来进行OTC市场金融衍生品的交易和管理 华尔街改革和消费者保护 多德 弗兰克 法 对SEF的定义解释是 一个交易场所 交易系统或者交易平台 使得众多的交易市场参与者能够在此接受其他市场交易者作出的购买报价和出售报价 而上述购买报价和出售报价在该市场上是公开透明的 是市场参与者人所皆知的 从上述定义中我们可以看到该法案对于SEF的职能目标是要提供交易前直到交易后的市场透明度 提高这个纯属为机构投资者服务的交易市场的竞争性 并提供市场交易的完整交易记录和跟踪审计所需要的功能保证 麦卡利eSEF持有澳大利亚政府颁发的金融市场牌照并接受政府主管部门的监管 在麦卡利eSEF 机构投资者可以进行利率 外汇 能源 商品和环境类金融衍生产品的交易业务 二十国集团提出的金融监管法律改革的另外一个重要目标是加强OTC金融衍生品市场交易的系统性风险管理 通过对OTC金融衍生品交易进行中央对手清算可以减少对手风险 加强整体市场的完整性 如果设计和运作得当的话 对OTC市场金融衍生品交易进行中央对手清算还有助于一旦出现交易违约 相关交易者清算资金可以得以保全和转移 这也有助于提高市场交易的透明度 满足相关监管法律的要求 尽管麦卡利直线只是提供eSEF市场服务 自身并不拥有或者经营清算机构 但麦卡利直线可以向数家OTC金融衍生品交易清算服务商递交交易 安排清算

    Original URL path: http://www.mercari.com.au/index_cn.html (2015-10-07)
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  • Mercari
    send trades to various Clearing Houses if requested by the parties to a trade Environmental Derivatives and Certificates Mercari currently operates electronic markets for environmental certificate Current products offered on Mercari Markets include the following These products are physically settled Australian Large Scale Generation Certificates LGCs NSW Green House Gas Abatement Certificates NGACs European Union Allowances EUAs Certified Emission Reductions CERs Products covering other environmental derivatives and certificates will be introduced as and when customer interest dictates LGC Closing Rates Mercari operates an end of day closing rates window for Large scale Renewable Energy Certificates LGC utilising Mercari s proprietary eSEF technology LGC contract specifications are available here For additional detail on the process or other information please contact us LGC Large Scale Generation Certificates LGC Closing Rates Tenor Bid Offer Mid Point Index Spot 59 75 61 50 60 625 Cal 14 60 10 61 85 60 975 Cal 15 61 30 63 60 62 450 Cal 16 62 20 64 85 63 525 Cal 17 63 75 67 20 65 475 Cal 18 64 00 68 40 66 200 Table Legend Blue Firm Tradable Prices Green Market Survey Red Calculation Settlement prices are calculated in several ways For a more details please see the methodology guide below Spot Closing Price History Spot Closing Price History Forward Price Curve Based on Mid Point Index Forward Price Curve Based on Mid Point Index Follow MercariRates Disclaimer This price information is for informational purposes only and is provided on a best endeavours basis The information contained is of a general nature and nothing herein shall be construed as financial advice or a recommendation or solicitation to purchase or sell any financial product Any use of this information is done so at the user s risk only Mercari provides no guarantees as

    Original URL path: http://www.mercari.com.au/products.php (2015-10-07)
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  • Mercari
    a drop in their personal service levels Their service is made more efficient and their workday made easier Dealer Emulation When Mercari is set up as an intermediated broker market place brokers emulate their client to act on their behalf so that each order is attributed to a trader Moving from one client to the next or from market to market is as easy as clicking the mouse Placing an order can be as simple click and send There are many additional broker best practice options that customise how an order is delivered into Mercari OTC market place maximising the chances of trading at the dealer s optimum level in their preferred amount Dealer Communication Relevant unambiguous and timely communication between traders and their brokers is paramount to effective order promotion and trade execution Mercari OTC trading platform enhances traditional dealer communication in its markets through a series of manual and automated chat and notifier features Mercari Private Mercari gives brokers another communication option with their dealing clients through the Mercari Private feature The broker can initiate a chat with his trader elect to leave it on the dealers desktop if unanswered or remove it from their screen should it be only relevant for that moment Group chats can also be had Notifiers Notifiers are designed to keep both the broker and dealer fully informed This allows both to either act on new information or ignore it and continue their work with minimal interruption The Mercari notifier system makes life easier for brokers and dealers alike Many orders placed in the system can become set and forget with the comfort that you will know immediately when something has changed Brokers have no need to interrupt their dealer unnecessarily If the dealer has left his desk and an important notifier goes unacknowledged the broker can then takes steps to make direct contact This feature ensures that intermediary intervention in the transaction process is restricted to the important or relevant There are different forms of notifiers built in to the Mercari Direct OTC trading platform News and Alerts Manual Personal Notifier Automatic Personal Notifier Negotiate notifier Action notifier Name passing notifier Communication notifier in C and D check Detail passing notifier Screen scroll displays Deal Discuss Once names are passed for credit checking purposes Mercari s Credit and Detail Check feature can be configured to allow trading counterparties to chat directly with each other If necessary dealers can here negotiate any special arrangements or amendments to a trade in view of the broker who can then make any agreed changes on the fly Trade Notification Contact details for each client are preloaded for Trade Advice Notification Settlement risks are minimized with Mercari s automation of the calculation and structure processes of each trade allowing notifications to be sent automatically and immediately once trader s terms are agreed Should changes be negotiated later an automatic version 2 of the documentation will be sent after the new details are formally agreed upon For broker

    Original URL path: http://www.mercari.com.au/eseftechnology.html (2015-10-07)
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  • Mercari
    time Orders can be customised for your specific requirements options include Hidden best prices will display your order at the price you prefer while automatically offering bidding prices up to your final best price Iceberg volumes allow orders to be displayed in the size you want visible while automatically offering bidding further volume when hit A user defined Cancel at time allows you to choose when your order will expire The CP view feature allows you to switch from your customised screen view to see how your prices are displayed to others in the market Current orders can be changed by left clicking This brings up a menu which enables you to amend trade prices and volumes or cancel the trade altogether The Mercari Direct private messaging service lets you chat directly with your broker or the Mercari support team at any stage during trading The negotiate feature allows dealers to show an improved price to selected counterparties who have an existing price in the same run providing an opportunity to enter into direct and anonymous negotiations without showing an interest to the entire market Platform Features Intra and Post Trade Intra Trade Mercari eSEF is able to accommodate multiple market models particularly hybrid models through Mercari s proprietary matching algorithm METAL Mercari Enhanced Trading Amounts Logic Read more METAL can be configured to incorporate knowledge of credit arrangements which can be used to pre set to cleared No Credit Yes Credit or Check Credit This information is utilised to display only tradable deals METAL optimises credit price time quantity information to maximise trading outcomes Post Trade Mercari operates orderly and efficient trade matching venues that can be tailored to meet diverse post trade requirements Whilst not dictating post trade arrangements Mercari can offer a range of post trade options

    Original URL path: http://www.mercari.com.au/tradingmarkets.html (2015-10-07)
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