CFTC Blesses Eurex Clearing U.S. regulator CFTC has authorized Eurex Clearing’s registration as a derivatives clearing organization (DCO), which will allow Eurex Clearing to provide clearing services for swaps for U.S. clearing members, officials say. The authorization makes Eurex Clearing the 16th DCO registered with the CFTC and the sixth registered DCO based outside the… Read More >>
ICE Promotes to Fill Senior Management Posts
ICE Promotes Senior Managers Intercontinental Exchange, Inc. (ICE), the operator of clearinghouses, data services and such exchanges as the New York Stock Exchange, reports the following senior management moves: Ben Jackson, president and chief operating officer (COO) of ICE Futures U.S., has been named to the newly created post of ICE chief commercial officer, where… Read More >>
SEC and CFTC Reinforce Whistleblower Programs
U.S. regulators the SEC and the CFTC are reaffirming their commitment to make their whistleblower systems more accessible to industry participants and financially rewarding. Most recently, the SEC has given a whistleblower an award of more than $700,000 to “a company outsider who conducted a detailed analysis that led to a successful SEC enforcement action,”… Read More >>
Brady Acquires Temenos’ Energycredit Unit
Brady Hopes Temenos Unit Will Help Broaden Offerings Brady PLC, maker of trading, risk management and settlement solutions for the energy, commodities and recycling sectors, has acquired the Energycredit unit from vendor Temenos Group, officials say. The combination of each’s offerings should help Brady branch out into new commodity asset classes, Brady officials say. Temenos,… Read More >>
Ops Gets on the Blockchain Revolution Bus
Bitcoin, a so-called crypto-currency, may fade before anyone really understands what it was or how it could actually have prevailed in financial services. However, out of Bitcoin’s ashes has risen the humbly named Blockchain technology. The distributed ledger technology that has been propping up Bitcoin has come to the attention of major industry players. This… Read More >>
NSX Officially Re-Launches, Debuts Low-Price Fees
NSX Re-Launches for Equities, ETFs As expected, the National Stock Exchange (NSX) has re-launched trading operations for equity securities and exchange-traded funds (ETFs), and reports that it is offering “low-price market access fees,” officials say. The relaunch follows the SEC’s approval on Dec. 14 to resume trading operations, which includes a phased roll-out of all… Read More >>
JPMorgan to Pay $367 Million in Penalties to CFTC, SEC
JPMorgan will pay a combined total of $367 million to the SEC and the CFTC to settle charges that key subsidiaries had allegedly failed to disclose conflicts of interest to clients, and which the bank says were unintentional acts. In the SEC case, the regulator reports that two JPMorgan wealth management subsidiaries have agreed to… Read More >>
TrueEX, JPMorgan & RBS Stretch FIX for Swaps
TrueEX, a swap execution facility (SEF), JPMorgan and the Royal Bank of Scotland (RBS) have launched the trueFIX automated execution and processing solution for U.S. dollar, Euro and U.K. Sterling swaps that will work with the FIX-based confirmation and affirmation protocol extensions from the FIX Trading Community. The FIX Trading Community is the governing body behind… Read More >>
DTCC Wants Global Framework for Sharing Swaps Data
Post-trade services and infrastructure provider DTCC would like to see the start of an international discussion about a framework for the global sharing of data about swaps transactions in the wake of federal action to remove a Dodd-Frank Act provision that some saw as an impediment to swaps data sharing globally. In a rare moment… Read More >>
CFTC Targets the Op Risk of High-Speed Trading
The CFTC last week unanimously proposed new rules to cut risks related to high-speed trading via the algorithms used by designated contract markets (DCMs). Some analysts say the rules will give the regulator more tools to deal with this key aspect of derivatives trading. However, others caution that the regulator should not put forth rules… Read More >>
