The London Metal Exchange (LME) has named John Lee as its new chief technology officer (CTO), officials say. Lee will join LME’s executive committee and will report to Garry Jones, LME’s chief executive, officials say. His appointment is effective Jan. 26, 2015. Lee has more than 22 years of technology experience at financial exchanges, as… Read More >>
Can Good Come from the Sins of Wall Street?
Thanks to the fines imposed upon Wall Street and insurance firms for their sins during the Great Recession, the New York State government has a $5.1 billion surplus for fiscal year 2016. New York Gov. Andrew Cuomo and other politicians in Albany are scrambling to sort out how to spend the windfall in the best… Read More >>
JPX Taps Nasdaq to Build Osaka Exchange
Japan Exchange Group (JPX) and Nasdaq have partnered to build a next-generation derivatives trading system for the JPX subsidiary Osaka Exchange, officials say. In addition to the trading system, which will operate on Genium INET technology, Osaka will tap SMARTS Market Surveillance for its real-time surveillance needs, supplied by Nasdaq technologies. “We are proud and… Read More >>
Wolters Kluwer Analysts Foresee More Regulation
The securities compliance analysts at vendor Wolters Kluwer Financial Services have released a report outlining their predictions for the regulatory outlook in 2015, officials say. Given that only about half of Dodd-Frank has been finalized, in general the report expects that the pace of regulation will continue to increase over the course of the year…. Read More >>
ISDA Shakes Up Internal Teams
The International Swaps and Derivatives Association (ISDA) has shaken up its public policy and regulatory and legal team line-ups, in order to “reflect the next phase of regulatory reform and to support cross-border harmonization efforts,” according to an ISDA statement. Steven Kennedy has been made ISDA’s global head of public policy, a newly created position… Read More >>
Abacus Group Opens Los Angeles Office
After a record year in 2014 driven largely by its AbacusFLEX private cloud solution, Abacus Group, a financial IT services provider, will open a new office in Los Angeles, according to a statement from the vendor. Abacus added 60 clients last year and saw growth in its other managed services and hosted solutions, officials say…. Read More >>
RJO Adds Two to FX and Precious Metals
Chicago-based R.J. O’Brien & Associates (RJO), the venerable futures brokerage and clearing firm, has named Kevin J. Danca, 45, and Michael G. Connolly, 42, as directors, FX and precious metals. They will be based in the New York office and will report to Matthew Ardizzone, RJO global head of FX sales. “The two bullion market… Read More >>
CME Group Launches Education Platform
CME Group, the multi-exchange derivatives marketplace, reports that it has the launched the Futures Institute, an online platform for futures education, trading simulation and market research. “The Futures Institute offers a blend of live instruction, interactive training modules, market research and training,” CME Group says in a statement. “The Futures Institute works with partners across… Read More >>
UBS Securities Expands DMA via Orc
UBS Securities has extended its broad usage of derivatives technology vendor Orc’s Electronic Execution solution to facilitate direct market access to the Australian Stock Exchange (ASX) and the Chicago Mercantile Exchange (CME), officials say. The UBS group has used Orc solutions to deliver on their customer’s DMA requirements since 2007, according to UBS and vendor… Read More >>
Q&A: Droit Just Wants to Become an Industry Standard
Two of the key players behind Droit Financial Technologies — Satya Pemmaraju, Ph.D., founding partner and CEO, and Brock Arnason, founding partner, head of product and strategic alliances — spoke recently with FFT News about the start of the company and how its wares can be applied to a post-trade reporting/compliance infrastructure. Q: Can you… Read More >>
