Source: John Lothian Newsletter
Financial integrity firm AlphaMetrix reveals that its own internal controls haven’t worked properly, and the NFA and others are backing away from compliance relationships. SEF week number 1 has come and gone, and the CFTC reports hundreds of billions of dollars worth of swaps were transacted. Nasdaq’s CEO suggests creating a “production site” for a [...]
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Source: John Lothian Newsletter
JPMorgan puts its physical commodity business up for sale and puts on a starting price tag at over $3 billion. Maybe they should just hand it over to the CFTC as payment for past sins. The London Metal Exchange says yes, they will indeed forge ahead on their delivery plans, though they may change those [...]
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Source: John Lothian Newsletter
A couple of days after beginning their investigation into forex market manipulation, regulators in Switzerland say yep, it was really happening, details eventually to follow. Janet Yellen is said to get the nod for the big chair at the Fed, since Larry can’t come out and play. I’ve got one word for you: “Compliance”. First [...]
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Source: John Lothian Newsletter
BATS Chi-X Europe announces its intention to list equities in Europe, and BlackRock’s ETF platform will be the first lister. CME Group follows through with last year’s aluminum contract idea. Spain’s stock market plans to open a corporate bond market for SMEs. First Read Troop 117 Wins Trebuchet and Milk Jug Boat Competitions John Lothian [...]
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Source: John Lothian Newsletter
Without a green light for its settlement system’s readiness, Eurex has to delay the start of their new forex trading system. The London Metal Exchange hears calls for greater transparency and decides to begin publishing position information for major players. Spanish stock exchange BME is on track to start its derivatives clearinghouse in 2015. First [...]
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Source: John Lothian Newsletter
The head of the CFTC, confirming the expected, is said to be departing from his job at the end of this year. No word yet on whether dancing lessons are on tap for 2014. Benchmark manipulation investigations proceed apace, as Switzerland’s regulators look into possible foreign exchange rate fixing. Hedge funds are beginning to expand [...]
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Source: John Lothian Newsletter
As new derivatives regulation begins to operate (minus the government agency that created it), the SEC points out that the new SEFs should not be used to trade certain products over which it has jurisdiction. ICE and NYSE Euronext get a thumbs-up… well, more of a “can’t think of a reason to give a thumbs-down” [...]
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Source: John Lothian Newsletter
Brand new SEF Javelin Capital Markets begins processing its first electronic swaps matching as dawn breaks on the brave new world of swaps regulation. FINRA wants dark pools to begin reporting transaction data. Benchmark rates in gold and oil may be in line for new regulations to guard against manipulation and abuse. First Read KPMG’s [...]
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Source: John Lothian Newsletter
The EU’s top regulator is trying desperately to get the CFTC’s attention with regard to swaps reform; possibly something about “the bridge is out, the bridge is out”. Whatever. Deutsche Boerse is planning to penalize certain kinds of high-speed trading practices on its Eurex platform. The US Treasury compiles a report on systematic vulnerability from [...]
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