A German firm, Commerzbank, is the first sell-side institution to use OpenGamma’s new, hosted margining service as the bank grapples with the rise in demand for pre-trade margin comparison requests, bank officials say. The hosted OpenGamma for Margining “comes at a time when Category 2 market participants are just two months away from joining Category… Read More >>
CME May Spur Bidding War for the LSE
There is a sense of déjà vu in the air with talk of a $28 billion merger between Deutsche Börse and the London Stock Exchange Group (LSEG). The two have been circling around each other for years but as in the past, rival exchanges may try and break the bond. This time around the Intercontinental… Read More >>
Green Key Technologies Hires Former Goldman Sachs Exec
Green Key Technologies Names Paul Christensen as CEO Voice-trading software systems vendor Green Key Technologies has appointed a former Goldman Sachs executive Paul Christensen, 44, to be its new CEO, tasked with taking the vendor to next level, officials say Regarded as a leading expert on global market structure issues, Christensen most recently served as… Read More >>
CME Group to Start Swaption Clearing in April
CME Clearing, part of the CME Group conglomerate of derivatives marketplaces, reports that it will begin processing interest rate swaptions, starting April 11, in a bid to cut bilateral counterparty credit risk and to free up credit lines, say CME officials. The service will also target firms that want to get ahead of the regulators… Read More >>
ISE Fills Two Executive IT Management Posts
ISE’s Chief Information Officer to Retire in April The International Securities Exchange (ISE) reports that Robert Cornish, its current chief technology officer (CTO), will move to the post of chief information officer (CIO) on the April retirement of current CIO Daniel Friel, while Thomas Reina, the current senior vice president, technology development, will become CTO…. Read More >>
CFTC, EU Finally Agree on a Clearing Deal
After three years of often bitter political squabbling, the European Commission and its U.S. counterpart the commodities regulator CFTC finally reached an agreement on a common approach to equivalent recognition of central clearing counterparties (CCPs). The two sides, which oversee around 90 percent of the $553 trillion derivatives market, have been at loggerheads over mutual… Read More >>
BGC Partners Sells Trayport to ICE
Intercontinental Exchange (ICE), the exchanges and clearinghouses network that includes the New York Stock Exchange, reports entering into a definitive agreement to acquire London-based vendor Trayport for $650 million in ICE common stock, representing approximately 2.5 million shares. Trayport, which licenses its technology platform to brokers for electronic and hybrid trade execution, primarily in the European over-the-counter… Read More >>
Cowen Group, Convergex and CME Europe Bolster Their Staffs
Cowen Group Adds Equity Salespersons and Equity Trader Cowen Group, Inc. reports that Brian Fitzgerald and Todd Bertsch, two veteran equity salespersons, and David Hartnett, a veteran equity sales trader, have joined Cowen and Company’s equity sales and trading team. All three are based in New York. Fitzgerald and Bertsch report to Philip Cushman, Cowen’s… Read More >>
CME, Dwolla Partner to Streamline Payment Operations
CME Group, the owner of global derivatives and clearing marketplaces, is joining forces with bank transfer platform vendor Dwolla to offer real-time, on-demand payment capabilities for clearing and settlement. The agreement will also streamline payment operations for CME Clearing members and clients, officials say. The first application of Dwolla’s technology will be applied to CME… Read More >>
CME Group Partners with Top Index Provider in China
The CME Group, a conglomerate of derivatives marketplaces, and China Securities Index Co. Ltd. (CSI), dubbed the “largest index provider in China,” have begun a strategic partnership that will lead to new commodity indexes, and will pave the way for the listing, trading and clearing of derivatives products based on the commodity indexes to be… Read More >>
