Visit the Contango Team booth at IDX London June 25-26
Source: contangoThe Contango team will be out in force at IDX London this year.
Read articleDirector of Contango to wear kilt to raise money for Futures for Kids charity
Source: contangoClive Furness, Director of Contango, has taken up the challenge of wearing the kilt for the IDX Gala Dinner on June 26 in aid of Futures for Kids (FFK).
Read articleJune 28, 2013: CFTC Sues Former MF Global CEO Corzine and Treasurer O’Brien; HKMEx’s Barkshire Resigns as Director as Police Probe Company; CME finalising plans for swaptions clearing
Source: John Lothian NewsletterAs expected, the CFTC files a civil no-settlement suit against ex-MF Global’s Jon Corzine and Edith O’Brien. In Hong Kong, one of the directors of the shuttered Hong Kong Mercantile Exchange resigns amid the ongoing scandal there. CME Group nears completion on its plans for clearing swaptions products, and hopes to start that clearing in [...]
Read articleJune 27, 2013: Eurex chief complains of M&A regulatory ‘asymmetry’; LME clearing fees will match LCH.Clearnet’s just-tripled charges; EU reaches deal on failed banks
Source: John Lothian NewsletterThe CEO of Eurex Exchange calls “favoritism” on EU antitrust regulators after the ICE-NYSE merger approval. The London Metal Exchange announces a clearing fee increase that is in line with recently-declared fee hikes from LCH.Clearnet. EU finance ministers give a thumbs-up on a key piece of how the union should deal with failing banks. First [...]
Read articleJune 26, 2013: New Canadian stock exchange seeks to challenge dominant TMX; CME among the winners of stock market turbulence; Trading Technologies rolls out Europe services
Source: John Lothian NewsletterRoyal Bank of Canada and some fund manager friends plan a new stock exchange to challenge Toronto’s TMX by offering a non-HFT environment. Recent news and economic shocks have created tough volatility for many investors, but CME Group is coming out ahead this time. Trading Technologies unveils two big deals in Europe, expanding the company’s [...]
Read articleJune 25, 2013: ICE Wins EU Approval to Purchase NYSE Euronext; HKEx Maps Out Commodities Plan, Considers Raising LME Fees; U.S. Civil Charges Against Corzine Are Seen as Near
Source: John Lothian NewsletterICE-NYSE is a go; now we just need a name. Hong Kong Exchanges discusses the future for its combined exchange force, and considers raising fees in London. As toxic cleanup after MF Global continues, regulators are said to be readying charges against ex-leader Jon Corzine. First Read A changing futures industry David Setters – Contango [...]
Read articleJune 24, 2013: LME Woos China Traders as Shanghai Vies for Global Stake; London Stock Exchange plots Brazilian foray; UK and China establish currency swap line
Source: John Lothian NewsletterThe London Metal Exchange and Shanghai Futures Exchange go head to head for the metals market in China. London Stock Exchange’s MillenniumIT tech division looks for inroads into the Brazilian exchange market. China’s renminbi currency gets a boost on the international stage as Britain and China create a currency swap agreement. In First Read today, [...]
Read articleJune 21, 2013: Derivatives industry lobby groups plan merger; CME Considers Soft Commodities Contracts as ICE Takes Over Liffe; U.S. Can’t Go It Alone on Derivatives
Source: John Lothian NewsletterIndustry lobby associations FIA and FOA plan to join forces. CME Group looks at the impending ICE-NYSE organization and considers the possibility of creating softs futures products. Michel Barnier in Europe has some suggestions for the US regulatory effort, and they don’t involve racing ahead of everyone else. First Read Futures Lobbyists in U.S., Europe [...]
Read articleJune 20, 2013: Nasdaq seeks tech head to build USD1bn business; ATS Brasil seeks to open exchange to compete against Bovespa; Moscow Exchange to Launch Stock Futures for German Blue Chips
Source: John Lothian NewsletterNasdaq is on the prowl for a new chief for its technology division. In Brazil, ATS Brasil files for approval to start up a new exchange next year. Moscow Exchange plans to offer futures contracts from Deutsche Boerse beginning in September. First Read The Pinnacle of Nervousness John Lothian The most nervous man in [...]
Read articleJune 19, 2013: China launches first carbon market in Shenzhen; SEC considers policy shift on admissions of wrongdoing; Deutsche Boerse CEO on lookout for takeover deals
Source: John Lothian NewsletterChina starts up and sees its first trades in a Shenzhen-based carbon exchange. The SEC takes baby steps in the direction of holding wrongdoers to the standard of actually admitting what they did wrong. The CEO of Europe’s Deutsche Boerse says it’s prowling the neighborhood in search of a good merger deal. First Read FFastCricket [...]
Read articleJune 18, 2013: EU Said to Raise No Objections to ICE Takeover of NYSE Euronext; ICE Sees Late Trade in Credit-Default Swap Futures; Relaxed Japan Short-Selling Rules to Be Permanent From November
Source: John Lothian NewsletterRegulators in the EU are said to be preparing a thumbs-up for the ICE/NYSE Euronext merger deal. The new credit-default swap futures at ICE listened to crickets at yesterday’s debut, but by afternoon began to see trading. In Japan, easier stock-shorting rules are slated to become permanent in November. In today’s First Read section, take [...]
Read articleJune 17, 2013: Japan Exchange plans infrastructure bourse; LSE to launch electronic swaps trading venue; Bid to relaunch synthetic CDO unravels
Source: John Lothian NewsletterThe operator of the Tokyo Stock Exchange plans to open a new exchange in a couple of years that will focus on raising capital to rebuild national infrastructure. The London Stock Exchange plans to open a new electronic swaps trading venue. Two big banks set up a sales effort for some notorious CDO products, but [...]
Read articleJune 14, 2013: In Fight Over Bank Rules, Regulator Calls for Compromise; EU agrees breakthrough in market rules; FX Rates Said to Face Global Regulation in Libor Review
Source: John Lothian NewsletterA CFTC commissioner wants the regulatory agency to reach out and compromise with overseas regulators on regulating foreign risk. In a probably unrelated turn of events, EU member states reached a milestone agreement on certain bank transactions and competition between clearing companies. As LIBOR’s fallout rolls onward and new allegations of currency rate manipulation surfaces, [...]
Read articleJune 13, 2013: NYSE Euronext has ETF plan approved; House passes bill that would exempt foreign trades; Nasdaq appoints Tom Wittman to head its U.S. stock market
Source: John Lothian NewsletterThe SEC allows NYSE Euronext to allow ETF managers to pay market makers in order to improve liquidity. The US House of Representatives passes a bill that would exempt offshore trading from Federal oversight. Nasdaq OMX appoints a new head to run its US stock exchanges. First Read Giancarlo Said to Be Vetted for Republican [...]
Read articleJune 12, 2013: Traders Said to Rig Currency Rates to Profit Off Clients; Singapore seeks to roll out market circuit breakers; EOX Exchange files with CFTC for contract market designation
Source: John Lothian NewsletterAs if interest rate manipulation weren’t enough, now regulators are investigating claims that foreign-exchange traders at major banks manipulated currency rates via collusion in last-minute market trading. Singapore Exchange wants to add volatility circuit breakers to its trading systems to add safeguards against excessive price swings. OTC Global Holdings’ trading platform subsidiary EOX Exchange files [...]
Read articleJune 11, 2013: ASX plans rights issue to meet new capital rules; NYSE Euronext appoints Eric Forest as Chairman and CEO of EnterNext; European swaps reporting deadline facing further delays
Source: John Lothian NewsletterAustralia’s stock exchange goes on a capital-raising mission. NYSE Euronext picks a CEO for their new EnterNext venture. Regulatory reform in Europe is said to have hit a roadblock as underfunded regulators and industry opposition takes its toll. First Read CME primed for new derivatives rules Neil Munshi, Philip Stafford and Michael Mackenzie – FT.com [...]
Read articleJune 10, 2013: Exchange CEOs See Euronext Sale Reshaping EU Equity Market; Hedge Funds Win Collateral Reprieve in SEC Dodd-Frank Shift; UK short-selling suit to test Esma powers
Source: John Lothian NewsletterIndustry execs see the possible sale of Euronext as shaking up the exchange balance in Europe. Asset managers get a welcome exception to Dodd-Frank credit-default swap collateral rules from the SEC. In the UK, a lawsuit over short selling rules could be a larger test over the power that cross-border regulators may wield in the [...]
Read articleJune 7, 2013: Foreign derivatives push divides US regulator; U.S., Britain Ready Criminal Charges in Libor Case; US regulators sue binary options broker
Source: John Lothian NewsletterDissent within the CFTC over timelines for new rules governing foreign derivatives rises to the surface, and casts doubt on the future of those regulations. The US and Britain are both reported to be readying criminal charges against employees of Barclays bank for their role in monkeying with the LIBOR interest rate benchmark. Another binary [...]
Read articleJune 6, 2013: Martin Abbott to step down as HKEx’s Co head of Global Markets and LME’s CE; SEC moves to tighten regulations on money market funds; LME sets date for clearing house launch
Source: John Lothian NewsletterLondon Metal Exchange Chief Executive Martin Abbott announces his departure from HKEx. The SEC as expected announces their proposed new regulations for the money market industry. The London Metal Exchange sets its date to launch its new clearing operations, confirming the previously announced discontinuation of clearing operations with LCH.Clearnet. First Read People Moves – WILD [...]
Read articleJune 5, 2013: MF Global ends bankruptcy as trustee Freeh steps down; Stock Exchanges Seek Curbs on Dark Pools to Fight Exodus; SAC Flap Is Liable to Hit Wall Street
Source: John Lothian NewsletterFirst Read How Well Do You Network? This is a Test. Jessica Titlebaum – Orc Group Some people say it’s money, but I think it’s networking events that make the world go ‘round. They give you an opportunity to establish and maintain connections as well as build a successful brand with a purpose. An industry [...]
Read articleJune 4, 2013: Nasdaq to reinforce monitoring with performance metrics tool; Investors Approve NYSE Sale to ICE; LCH Begins N.Y. Service to Give Customers U.S. Bankruptcy Cover
Source: John Lothian NewsletterExchange operator Nasdaq announces that they are toughening up real-time system monitoring to improve their oversight of their trade flow. Shareholders give a substantial thumbs-up to the ICE-NYSE merger. LCH.Clearnet starts a service in the US to give clearinghouse customers bankruptcy protection. In First Read today, take a look at the latest MarketsWiki.tv video interview: [...]
Read articleJune 3, 2013: EU Seeks Views on ICE-NYSE Commodity Impact Amid Trader Concern; A Regulator Rift Roils Rules; NYSE Liffe Sets July 1 Clearing Transition to ICE Clear Europe
Source: John Lothian NewsletterEU regulators evaluating the proposed ICE-NYSE merger are looking at competetive risks in the soft commodity sector. US regulators continue to edge toward rules designed to mitigate the future potential for financial crises, but that progress also continues to increase tensions between the US and Europe. NYSE Liffe sets July 1 as the conversion date [...]
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