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 >>
CFTC Grants Relief for Swap Dealer’s CCO
The chief compliance officer (CCO) of an as-yet unnamed swap dealer has been granted relief from certain reporting line requirements under CFTC regulations, officials say. The CFTC’s Division of Swap Dealer and Intermediary Oversight (DSIO) provided conditional no-action relief to a provisionally registered swap dealer, according to a commission statement, permitting the firm, subject to… Read More >>
Orc Group’s Owner Acquires Tbricks
Stockholm, Sweden-based Orc Group, a provider of listed derivatives trading technology, reports that its owner, Cidron Delfi Intressenter Holding, has signed an agreement to acquire Tbricks, also headquartered in Stockholm, a provider of trading technology to “market makers, proprietary traders and banks,” according to an Orc statement. Cidron Delfi Intressenter Holding AB, the acquiring entity,… Read More >>
CFTC Allots More Time for Position Limits Rule
CFTC officials have submitted a clarification and notice regarding the reopened comment periods for its rulemaking proposals on position limits for physical commodity derivatives and aggregation. In early December, the regulator’s Agricultural Advisory Committee held a public meeting that discussed, among other things, deliverable supply and exemptions for bona fide hedging positions, officials say. To… Read More >>
CME, GFI Group Clear Hurdles for Merger
Derivatives marketplace CME Group and interdealer broker and financial technology provider GFI Group have received regulatory approval for CME Group’s previously announced acquisition of GFI Group, officials say. The acquisition still needs to be approved by GFI’s stockholders before it can proceed, and GFI will hold a special meeting of its stockholders on January 27… Read More >>
CFTC Wins $1.2B in Restitution for M.F. Global Clients
On Christmas Eve, the CFTC is bringing good tidings to those clients left in the lurch by the bankruptcy of MF Global Holdings Ltd. (MFGH). The regulator via the federal court in New York is ordering MFGH to pay $1.212 billion in restitution for the unlawful use of customer funds and to pay a $100… Read More >>
Deutsche Bank FCM Settles with CFTC for $3M
The CFTC is ordering Deutsche Bank Securities (DBSI), a New York-based futures commission merchant (FCM), to pay $3 million to settle charges of improper investment of customer segregated funds, reporting and recordkeeping violations, and supervision failures. CFTC officials say they acknowledge the FCM’s “cooperation and corrective action” after deficiencies were discovered. A spokesperson for the… Read More >>
