Industry News supplied by John Lothian
Date: Oct 31, 2012
Wet and bruised but unbroken in the hurricane’s wake, the USA’s east coast and its financial centers prepare to clean up and return to normal operation. Moscow’s financial markets, the recipient of both fascinated appraisal and ridicule from the outside, is gradually making progress on becoming a legitimate center for trade. Last year’s house of [...]
Read article
Industry News supplied by John Lothian
Date: Oct 30, 2012
Open-With-Hurricane plans from the NYSE and other exchanges are made and then pulled back as financial closures extend into Tuesday; much analysis ensues. The Financial Times investigates the far-reaching consequences of a new and heavy regulatory burden at financial companies. In the UK, a LIBOR liability trial is cleared and ready for takeoff. In First [...]
Read article
Industry News supplied by John Lothian
Date: Oct 29, 2012
Netherlands-based trading platform The Order Machine has its sights set on competing against a popular NYSE Liffe index option contract. More than a decade after decimalization, the SEC is reconsidering that decision and is contemplating a return to quarters and eighths for some products. NYSE Euronext plans to turn out the lights on its Paris-based [...]
Read article
Industry News supplied by John Lothian
Date: Oct 26, 2012
Credit Suisse angles to convert one of its trading platforms into an exchange, in a bid to create the first US exchange owned entirely by a bank. The LIBOR investigation isn’t going away; it’s getting bigger, as nine more banks are added to the list of companies suspected of manipulating the now-disgraced benchmark rate. On [...]
Read article
Industry News supplied by John Lothian
Date: Oct 25, 2012
US futures markets may be able to use regulatory clarity as a springboard to improved volume next year. CME Group’s plans for its new London exchange include targeting Asian traders, as its operating hours will cover Asia as well as Europe. The CFTC’s Gary Gensler says the agency is still considering comments and consulting with [...]
Read article
Industry News supplied by John Lothian
Date: Oct 24, 2012
Fund managers and regulators are displeased with US exchanges over certain order types that they say creates an unfair disadvantage for their clients. Platform operator Tradeweb launches a new service that provides multiple price quotes for ETF products to traders. NYSE Euronext chief Duncan Niederauer wants a complete review and overhaul of the structure of [...]
Read article
Industry News supplied by John Lothian
Date: Oct 23, 2012
A UK report, two years in the making, makes several recommendations on how to best limit the risks involved with high-frequency trading systems. The ELX exchange, launched in 2009 to compete against CME Group, is struggling with evaporating volumes as customers walk away from core interest rate products. The SEC adopts rules to regulate risk [...]
Read article
Industry News supplied by John Lothian
Date: Oct 22, 2012
NYSE Euronext is taking a closer look at the strategic value of its giant, two year old data center in the UK, in the hopes of finding a way to get more revenue from the underused facility. BATS Chi-X Europe is reaching out to independent index providers in the hopes of getting its trading data [...]
Read article
Industry News supplied by John Lothian
Date: Oct 19, 2012
Hungarian exchange company Quote MTF plans to pair up with a UK bank and open a trading facility in Spain, placing fresh pressure on the marketplace in that country. Banks in Asia appear to be stepping back from derivatives deals with US entities, fearing entanglement the US’s upcoming new regulatory regime. CME Group’s CBOT exchange, [...]
Read article
Industry News supplied by John Lothian
Date: Oct 18, 2012
Chicago exchange CBOE has its eye on Asia as a new trading center, but it wants see its new London venture gain traction first. With new regulations coming in from the SEC and elsewhere, the swaps industry stands on the threshold of some kind of new world; whether brave or pernicious remains to be seen. [...]
Read article
Industry News supplied by John Lothian
Date: Oct 17, 2012
CME Group and the Kansas City Board of Trade announce they have signed an agreement in which KCBT will be acquired by CME Group. IntercontinentalExchange licenses credit-default swap indexes from Markit so that it can develop new, related futures contracts. NYSE Euronext partner up to create renminbi-denominated financial products as that currency’s popularity grows. In [...]
Read article
Industry News supplied by John Lothian
Date: Oct 16, 2012
Oslo’s exchange signs up to purchase the Burgundy from its Swedish owners as a way to consolidate influence in Scandinavian trading. Tradeweb launches an ETF trading platform, allowing access to thousands of ETF products. NYSE Euronext and the Taiwan Futures Exchange sign a memorandum of understanding to share connectivity and access via NYSE’s order routing [...]
Read article
Industry News supplied by John Lothian
Date: Oct 15, 2012
To Skirt Stricter CFTC Rules; Wall Street Joins CME In Winning Delays Of U.S. CFTC Swaps RulesNYSE Euronext plans to create a trading service for retail investors that would execute trades separately from high-frequency and long-term institutional traders. CME Group and ICE seek ways to realign their energy swaps products to avoid new, stricter regulations. [...]
Read article
Industry News supplied by John Lothian
Date: Oct 12, 2012
As the evaluation process begins for CME Group’s new European exchange, the company reveals that it intends to open its doors with 30 forex products on its shelf for trading. While many exchanges look to reduce or eliminate person-to-person floor trading in favor of electronic processing, the London Metal Exchange is actually considering expanding its [...]
Read article
Industry News supplied by John Lothian
Date: Oct 11, 2012
Amsterdam’s TOM trading platform hits the million-contract milestone in less than a year. Lobbyists in Europe and US have different viewpoints when it comes to additional regulation in the asset management sector. The US Chamber of Commerce and a couple of oil trade groups are suing the SEC over rules governing the reporting of payments [...]
Read article
Industry News supplied by John Lothian
Date: Oct 10, 2012
Established U.S. exchanges are viewing newcomer options exchange MIAX with suspicion and concern. The CFTC is planning a quick appeal for its recently-rejected trading limit rules. In Europe, 11 countries in the EU are giving a thumbs-up to a controversial financial transaction tax. In today’s First Read, catch the brand new MarketsWiki.tv interview with Jim [...]
Read article
Industry News supplied by John Lothian
Date: Oct 9, 2012
BATS Chi-X Europe has seen its share of big changes, and it has managed to continue its role as a significant competitor in the region. Banks and regulators jockey for position regarding this fall’s latest stress tests, as banks want more details about how regulators are producing their results, and the regulators are so far [...]
Read article
Industry News supplied by John Lothian
Date: Oct 8, 2012
The SEC, looking for ways to better monitor and regulate high-frequency trading firms, turns to a high-frequency trading firm for help. Active fund managers, struggling with dishwater returns and an unpalatable fee structure, are having trouble re-engaging with investors who have become enamored with more passive investment choices. The NSE and others in India are [...]
Read article
Industry News supplied by John Lothian
Date: Oct 5, 2012
Banks are calling out exchanges on legal protections that they say should be rewritten to more closely match the rules for other participants. The stock market may be rallying, but investors are pulling out large chunks of money and looking for other financial playgrounds. India’s NSE had its own “flash crash” today, as incorrect orders [...]
Read article
Industry News supplied by John Lothian
Date: Oct 4, 2012
Software company Cinnober promotes Veronica Augustsson to CEO. In what is becoming a fairly common occurrence, trades in a stock spiraled out of control for reasons not immediately known; and after reviewing the market behavior, exchanges canceled abnormal orders and trades. The US Comptroller of the Currency, long viewed as a rubber-stamp overseer of the [...]
Read article
Industry News supplied by John Lothian
Date: Oct 3, 2012
Regulators receive large boxes of input and opinions regarding the control of the modern financial trading system; but those opinions vary greatly on the nature of the bell, and who is best suited to put it on the cat. Along with keeping control of the new electronic trading frontier, regulators in the U.S .are very [...]
Read article
Industry News supplied by John Lothian
Date: Oct 2, 2012
The CBOE Futures Exchange announces a new S&P 500 variance futures contract, slated to begin trading on October 4 assuming that it receives a thumbs-up (or at least a “thumb-of-no-action”) from regulators. In the latest episode of, “We Told Them Years Ago,” the SEC comes under fire for having been warned about high-frequency trading two [...]
Read article
Industry News supplied by John Lothian
Date: Oct 1, 2012
Competition Monday starts with news that Deutsche Börse is considering new currency futures products in Europe to challenge the upcoming CME Group offerings. Alasdair Haynes, ex-Chi-X Europe boss, has plans to start a new alternative trading system to compete with his former company, as well as with established traditional exchanges. In the U.S., the CFTC [...]
Read article