nyuuzyou/wikis huggingface dataset:
BRIXX Commercial Real Estate Indexes and Products

BRIXX Commercial Real Estate Indexes and Products were launched in 2021 by MIAX and are owned by MIAX. They consist of BRIXX™ Commercial Real Estate (CRE) Indexes and BRIXX™ CRE Options and Futures. 
== Index ==
BRIXX™ Commercial Real Estate (CRE) Indexes were created by Advanced Fundamentals. The family of indexes track real-time changes in real estate valuations across four commercial real estate sectors: residential, retail, office and hospitality, using data that is updated through continuous real-time changes in equity share prices as well as 10Q, 10K, and interim period 8K filings.
BRIXX Indexes:
BRIXX covers four (4) individual sectors and a Composite composed of the four underlying sector returns:
- BRIXX Residential Index (BRIXR) priced in $/unit/1000
– BRIXX Retail Index (BRIXT) priced in $/square foot
- BRIXX Office Index (BRIXO) priced in $/square foot
- BRIXX Hospitality Index (BRIXH) priced in $key / 1000
- BRIXX Composite Index (BRIXC)
On October 18, 2021 MIAX and Advanced Fundamentals launched BRIXX Retail Futures, offered by MGEX via the CME Globex platform. BRIXX Office Futures launched on November 8, 2021 and BRIXX Hospitality Futures and BRIXX Residential Futures launched on November 22, 2021. BRIXX CRE Derivatives bring liquid trading to the $16-trillion commercial real estate market, allowing investors to enter into a long or short position to manage exposure with a lower upfront financial commitment than buying illiquid real estate or equities. The derivative prices are based on the real-time prices sourced from over $750 billion of institutional quality commercial real estate investment holdings.
== Products: BRIXX CRE Options and Futures ==
BRIXX Options will launch in Q1 2022 and trade on MIAX. The trading symbols are as follows:
1. BRIXX Retail Options (BRIXT)
2. BRIXX Residential Options (BRIXR)
3. BRIXX Office Options (BRIXO)
4. BRIXX Hospitality Options (BRIXH)
BRIXX Futures are offered by the Minneapolis Grain Exchange (MGEX™) via the CME Globex® platform, trading 8:30 a.m.-3:00 p.m. Monday-Friday, Central Time. BRIXX Futures trading symbols are: 
1. BRIXX Retail Futures (BXT)
2. BRIXX Residential Futures (BXR)
3. BRIXX Office Futures (BXO)
4. BRIXX Hospitality Futures (BXH)
== References ==
BSDEX

BSDEX (Boerse Stuttgart Digital Exchange) is a regulated German cryptocurrency trading platform. 
Boerse Stuttgart, the second largest equities exchange in Germany by trading volume, joined with Axel Springer, one of Europe's largest print publishers based in Berlin; finanzen.net, a German online broker and data aggregator; SolarisBank, a Berlin-based fintech company that offers a banking-as-a-service platform; and Japanese investment firm SBI, Holdings to launch BSDEX (Boerse Stuttgart Digital Exchange) in early December 2019. It is licensed in Germany as a multilateral trading platform, which, a year later, was still only available to German residents according to BSDEX. 
It is licensed in Germany as a multilateral trading platform, which, a year later was still only available to German residents according to BSDEX. The platform offers euro-denominated trading in bitcoin, Ethereum, Litecoin, and Ripple. 
== References ==
Category: regulation
Category: exchanges
Category: cryptocurrency trading platforms
Category: Stock Exchanges
Category: Germany
BSTX

BSTX (Boston Security Token Exchange), which is jointly owned by BOX Digital Markets LLC and tZERO, is a nascent stock market for tokenized securities. It received approval from the US Securities and Exchange Commission (SEC) as an equity trading facility of BOX Exchange in January 2022.
BSTX says it is the first fully-automated, price/time priority execution exchange for trading securities that is both regulated by the SEC and leverages existing private blockchain technologies.
The SEC approval for BSTX doesn't apply to the trading of digital tokens; the technology would be used for services such as settlement. The proposal for BSTX was initially rejected by the SEC in December 2020.
 
== Background ==
BOX Digital Markets is an affiliate of BOX Exchange. BSTX will operate as a facility of BOX Options Exchange. tZERO, a subsidiary of Overstock.com, began operating an alternative trading system or ATS for its own tokenized securities in 2019. 
BOX provides strategic leadership and regulatory advice to BSTX and tZERO manages technology, administration, maintenance, and support. TZERO operates its own registered alternative trading system (ATS) for security tokens, access to which is limited by its regulatory status. 
== Trading proposal ==
 
On September 27, 2019 BOX Exchange filed proposed changes to its options exchange rules with the SEC to permit it to list equity securities. In its request for comments on the proposal that the agency published on October 11, 2019 the SEC characterized the BSTX proposal saying, ". . . BSTX would operate a fully automated, price/time priority execution system for the trading of “security tokens,” which would be equity securities that meet BSTX listing standards and for which ancillary records of ownership would be able to be created and maintained using distributed ledger (or “blockchain”) technology." The SEC published revisions to BSTX's proposed rulebook on February 28, 2020.
== SEC disapproval == 
On December 28, 2020, the SEC published in the Federal Register its order disapproving the rule change. The commission said that, among other things, the proposed design would lead to inaccurate public reporting of transactions. The commission also complained that the materials submitted by the exchange did not contain sufficient information about the workings of the systems for the commission to assess the proposal fully. The order also indicates that there had been a number of interactions between the SEC and BSTX which failed to resolve the SEC's issues. 
== SEC Approval ==
On January 27, 2022, the SEC approved BSTX, a joint venture between tZERO and Boston Options Exchange, as a trading facility of BOX Exchange. BSTX eventually hopes to support regulated crypto markets alongside its equity offerings. 
 
== References ==
Category:fintech
Category:CryptoMarketsWiki
Category:cryptocurrency
Category:tokens
Catefory:stock exchange
BTC-e

BTC-e was a cryptocurrency exchange operated by Alexander Vinnik. It supported bitcoin, Ethereum, Dash, Namecoin, and Novacoin.
== Overview ==
BTC-e was, at one point, one of the oldest and most popular cryptocurrency exchanges. It supported the user-to-user trade of several popular cryptocurrencies, such as bitcoin, Ethereum, and Dash. In 2016, Swedish programmer Kim Nilsson tracked some of the bitcoins that had been stolen from Mt. Gox, a cryptocurrency exchange based in Tokyo, to a wallet owned by a Mt. Gox user named "WME." Nilsson later discovered that the owner of the account was Alexander Vinnik, who had left comments on an old online bitcoin forum that included some personal information. Vinnik was arrested in Greece in July 2016. He is the only known accomplice of the exchange. He has claimed his primary role with the company was technical, and that he had no knowledge of any criminal activity. The exchange posted a message on its official account on the online forum BitcoinTalk, denying any affiliation with Vinnik. Vinnik later admitted in an interview with Russia Today that he was actually an employee with the exchange. BTC-e has since been linked with laundering millions of dollars worth of cryptocurrency for criminal purposes. It has also been linked to Fancy Bear, a Russian hacking unit accused of influencing the United States 2016 presidential election. American prosecutors have accused BTC-e of helping Fancy Bear operatives circumvent KYC and AML laws by laundering money anonymously, using bitcoin.
== Site closure ==
In the summer of 2017, BTC-e's web domain was seized and access became restricted. The site later posted a roadmap for its relaunch "in full compliance with the European directives on personal data and in compliance with European legislation in [the crytpocurrency] field." The first stage was to involve the transfer of user information to a new, unnamed company. The second stage would involve an unnamed financial investment firm to restructure BTC-e's assets. In the third stage, the aforementioned unnamed financial investment firm would audit and register personal data in possession of the new, unnamed company in accordance with AML and KYC laws in Europe.
The arrest of Vinnik and the subsequent seizure of BTC-e's online domain was a joint effort between numerous agencies, including the Department of Justice, Northern District of California; Internal Revenue Service (IRS) Immigration and Customs Enforcement’s (ICE); the Federal Bureau of Investigation (FBI); and the United States Secret Service (USSS).
== References ==
Category: digital assets
Category: definitions
Category: cryptocurrency
Category: bitcoin
Category: trading
Category: criminal activity
Category: exchanges
Category: CryptoMarketsWiki
BTCC

BTCC was one of the earliest and most successful Chinese cryptocurrency trading platforms.
BTCC (then operating as BTC China) closed operations in China on October 1, 2017, in response to a crackdown on trading platforms by Chinese authorities that started after an announcement to that effect on September 4. Having once been one the longest-running as well as one of the largest Chinese exchanges, the platform changed its name from its original BTC China to BTCC when it reopened in July 2018. I also said that it would run a mining pool and support its own new Mobi wallet software. 
On June 24, 2021, BTCC announced that it had closed its Chinese trading and mining operations.
== Products and Services ==
When BTCC re-opened in 2018, it focused on offering a renminbi-priced perpetual bitcoin contract which it launched in 2019. BTCC claims that this was the first physically-settled perpetual bitcoin contract. The instrument allows up to 150% leverage for both bitcoin and Ethereum contracts. 
== Key People ==
Huang Xiaoyu, Co-Founder; 
Yang Linke, Co-Founder; 
Bobby Lee, Co-Founder and CEO
== References ==
Category:cryptocurrency
Category:cryptocurrency trading platform
Category:CryptoMarketsWiki
BTR Trading

__NOTOC__
BTR Trading Group is a futures broker focused on algorithmic trading, investment research, and private and institutional management.
== History ==
BTR Trading was founded in July 2010 by William Orlowski, Tim Eilers and John L. Roe. Its offices are located in Chicago, and in December 2011, Roe reportedly lost hundreds of thousands of dollars in personal investment as a part of broker-dealer MF Global's collapse.
BTR is a registered as an introducing broker with the Commodity Futures Trading Commission (CFTC), and holds memberships with the National Futures Association (NFA) and the National Introducing Brokers Association (NIBA).
== Products and Services ==
Private Client Services
"BTR Trading Group provides asset diversification through professional management of futures trading systems, managed futures accounts, portfolios and research, as well as full service broker assisted and electronic trading of global futures markets through industry leading trading platforms."
Institutional Services
"BTR Trading Group offers execution services to introducing brokers, CTAs, CPOs and professional traders. We maintain multiple redundant execution environments utilizing secure, fast direct market connections. While we are focused on algorithmic execution, we also provide our institutional clients with the same suite of alternative investment services enjoyed by our private clients."
== Key People ==
*William Orlowski, Principal
*Tim Eilers, Principal
*John L. Roe, Principal
== References ==
Category:Brokers
Category:MF Global
BT Radianz

BT Radianz is a business-to-business e-commerce company that provides IP networking and scalable connectivity to the global financial community. The company’s shared market infrastructure is a neutral platform that provides access to pre-trade, trade, and post-trade applications across the straight-through processing (STP) chain.
Formerly named "Radianz," the company was acquired by British Telecommunications in 2005 and renamed "BT Radianz."
160 market data vendors, trade execution and order management services, ECNs and exchanges, and clearing and settlement firms currently access more than 10,000 financial sites through BT Radianz. BT Radianz customers include large investment banks, hedge funds, market data providers and stock exchanges, global custodians and mutual funds.
== History ==
Radianz was founded as a joint venture between Reuters and Equant.
In January 2008, the International Securities Exchange (ISE) announced it would use Radianz's network for trade execution and market data. 
In April 2008, BT added alternative trading system Chi-X Canada to its Radianz Shared Market Infrastructure.
Radianz was named a “Best Network Provider – 2004” by Waters magazine’s readers.
In February 2019, Gemini announced that it had joined the global cloud platform Radianz Cloud, connecting it to financial institutions on the Cloud network. According to Nick Vigier of Gemini, existing Radianz customers will be able to access Gemini's FIX interface.
== Products and Services ==
*Market Distribution
*Market Access
*Radianz Proximity Solution
*Hosting Services
*Quality Assurance
*Security
== Key People ==
*Bas Burger, CEO
*Ashish Gupta, President, UK and Global Banking & Financial Services
*Chet Patel, President, Continental Europe
*Chris Cochrane, CIO
*Ian Duerden, President, Global Customer Service
*Jennifer Artley, President, Americas
*Kevin Taylor, President, Asia Pacific, Middle East and Africa
*Liz Walker, General Counsel
*Maria Grazia Pecorari, President, Digital, Global Portfolio and Marketing
*Mark Hughes, President, Security
*Rebecca Markovits, Chief HR Officer
*Richard Cameron, CFO and deputy CFO, BT Group
== References ==
Category:Telecom Companies
Category:CryptoMarketsWiki
BUX

__NOTOC__
The Budapest Stock Exchange Share Index, better known by its ticker symbol BUX, is the official benchmark of shares listed on the Budapest Stock Exchange (BSE) and consists of up to 25 of Hungary's blue-chip stocks. The BUX has been hammered by the aftermath of the 2008 credit crisis and subsequent financial meltdown, shedding two-thirds of its total value in less than two years.
== Two heavy ==
The BUX index is calculated in Hungarian forints and aims to be an indicator of domestic Hungarian stock prices by sampling between 12 and 25 stocks listed on the BSE, its owner, that satisfy five market liquidity criteria. It's small-cap/mid-cap counterpart, the Budapest Stock Exchange Mid- and Small Cap Share Index (BUMIX), has lower market capitalization qualification and fewer liquidity requirements to meet. The structure of the BUX is revuewed twice annually in March and September with new baskets introduced the following month. Its base value of 1,000 points was set in January 1991 and is recalculated every five seconds.
 
As of June 2008 the BUX's value was dominated by Hungary's two leading blue-chip stocks on the BSE: MOL with 31.68% and OTP Bank with 28.98%. A decline in both stocks in September 2008 saw the BUX fall to under 20,000 from a peak of above 30,000 in 2007. Both stocks, which comprise over 60% of the BUX's value, were the subject of speculative selling on the BSE following the collpase of Lehman Brothers earlier that month.
== Latest news ==
The rout has since continued for the BUX and on February 20, 2009 it fell below the historic 10,000 mark that was first set in February 2004. The BUX dropped 6.43% on Feb. 20 to hit 9.965.99, representing a loss of more than 50% since September 2008 and of more than two thirds since July 23, 2007, when it the BUX closed at its all-time high of 30,118.10.
== References ==
BaFin

"BaFin" is the acronym for Bundesanstalt für Finanzdienstleistungsaufsicht, Germany's Federal Financial Supervisory Authority. BaFin is a member of the Committee of European Securities Regulators. Jochen Sanio serves as BaFin's representative on the Committee.
==Organization and Purpose==
The German Federal Financial Supervisory Authority (BaFin) , has assumed the responsibilities of the former supervisory offices for banking, insurance and securities, and, thus, supervises banks, financial services institutions and insurance companies, starkly different than in the United States, where different regulatory groups have responsibility for these areas.
 
BaFin essentially pursues three supervisory goals. Its main objective is to ensure that the entire financial sector in Germany remains operational. 
Sub-objectives are to ensure the solvency of banks and financial services institutions and to ensure the protection of clients and investors.
At the core of the German Federal Financial Supervisory Authority (BaFin) there are the three supervisory pillars fulfilling the tasks of the former German Federal Supervisory Offices: Banking (BAKred), Insurance and Securities (BaWe – securities supervision/asset management), which have been combined and are continuing their work as part of BaFin.
== References ==
==Resources==
http://www.bafin.de/
Category:European Securities Regulators
Category:Futures Regulators
Category:Insurance Regulators
Category:Regulators
Bachelier model

The Bachelier model is a mathematical pricing model considered to be particularly useful in pricing options when the value of the underlying becomes or may become negative. It is an alternative to the Black-Merton-Scholes and other option pricing models and is attractive because it does not rely on logarithms which cannot represent negative values. It is named after the French mathematician Louis Bachelier, who was active in France in the first half of the 20th century. 
== Use at CME Group == 
Against a market backdrop of low and falling crude oil and related energy prices in April 2020, CME Group announced its plans for its internal pricing of futures options in the event of negative traded prices of underlying futures contracts on August 8. The plan called for a shift from the Whaley options pricing model to the Bachelier model, and on April 21 CME Group said that it was implementing Bachelier pricing effective with the next day's margin calculations for energy contracts. 
== Bachelier in finance ==
Bachelier defended his doctoral thesis, Théorie de la Spéculation, at the Sorbonne in Paris, France, in 1900. 
Paul Samuelson, the first American to win the Nobel Prize in Economics, introduced Bachelier to modern financial economists in his 1972 article "Mathematics of Speculative Price," which appeared in Mathematical Topics in Economic Theory and Computation. Samuelson said that Bachelier, ". . . seems to have had something of a one-track mind. But what a track!" Samuelson attributed to Bachelier the discovery of "Brownian motion" five years prior to Einstein's famous and much lauded similar discovery of the same phenomenon. Samuelson's encomium, most of which appears in a footnote in the article, reveals that Bachelier's work contributed to physics and mathematics before it was picked up by economists.
== References ==
Category:Options
Category:Risk Management
Category:Negative Prices
Back office

The back office of any bank, brokerage or financial services company refers to the sections that administer the company's transactions, accounts and employees. Back-office employees are typically unseen by most customers and account-holders of the company, who usually deal with front-office personnel like investment advisors or stock brokers.
Back-office workers in the finance and securities industry generally ensure that their firm's more prosaic tasks like transaction handling, settlement, clearance, and record maintenance proceed smoothly and according to industry regulations. By contrast front-office personnel typically deal with customers while middle-office employees manage risk and IT resources. 
== Oiling the machine ==
Back office administration divisions ensure that all trades the firm or bank conducts are accounted for and that incoming funds are balanced with outgoing. They also ensure that securities are registered and delivered to account-holders. Credit and compliance divisions ensure that margin-accounts holders are kept informed of margin requirements and that dividends and other payments are properly credited. They also ensure that the firm's departments are meeting their minimum capital requirements. Financial divisions handle in-house accounting and personnel matter like payroll and financial reports.
== References ==
Category:Brokerage
Back spread

__NOTOC__
A back spread is an option trading strategy that buys and sells both calls or both puts at two different strike prices in the same expiration month.
== Creating the Back Spread ==
Specifically, a back spread is created by selling an option and buying a greater quantity of an option with a more out of the money strike price. For example, if a futures contract's current price is 100, a back spread could be created by selling a 100 put and then purchasing two 90 puts. 
The option sale at the first strike price is intended to finance the purchase of the options that are farther away from the money. By combining the sale and purchase, the strategy also creates a broader array of possible outcomes than a simple, outright purchase of the out of the money options.
Depending on current market conditions and the goals of the trader, a different ratio of sold vs. purchased options can be used. The trader can also vary the strike prices for the sold and purchased options to create different degrees of risk, loss and credit.
== Strategy Outcomes ==
Back spreads are used when the trader anticipates an aggressive and extended move in the direction of the option purchase.
* If the market moves as intended, then the purchased options rise more rapidly in value than the near option that was sold. One of the long options limits the losses that the short option can sustain. The remainder of the long options can increase in value until the position is offset. Profit on those remainder options is limited only by the distance the market moves before offset.
* If the market moves away from the intended direction and does not return to the sold option's strike price before expiration, then the position is offset or expires with no change from the setup. Whatever small profit or loss that was realized at the time of establishing the position, is the net result of the trade.
* If the market moves in the anticipated direction, but does not go far enough to pass the long options' strike price or does not move in the correct direction quickly enough, the value of the long options may not be enough to offset the loss sustained by the short option. The gross loss in this case could be as much as the difference in strike prices between the long and short options.
== See Also ==
Ratio spreads
== References ==
Category:Trading Terms
Category:Definitions