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 >>
Nasdaq Futures to Use OptionsCity Settlement Solution
For its derivatives contracts, upstart energy futures market Nasdaq Futures (NFX) will be using a settlement price solution from OptionsCity Software, a futures and options trading and analytics solutions vendor, officials say. The relatively new Nasdaq OMX Group market competes against CME Group and the Intercontinental Exchange. “As NFX continues to grow, it’s important that… Read More >>
CME Cuts 80 Staff but Leaves Pits in Limbo
The CME Group let go of approximately 80 employees across the company during the week of August 6, but is uncertain about the future of certain open outcry pits once slated for closure, officials at the exchanges company confirm. Industry sources add that about half of the layoffs in early August were people working in… Read More >>
CME Group Halts Closure of Open Outcry Pits
The New York and Chicago pits will not close as previously announced by the derivatives exchange and clearing giant CME Group, giving open outcry trading a sudden stay of execution. “Due to a technical revision to its filing with the CFTC, CME Group today announced that it will delay the closing of its futures pits… Read More >>
CME, KOFIA to Collaborate on Education, Training
CME Group, the derivatives marketplace headquartered in Chicago, and Korea Financial Investment Association (KOFIA), report that they have signed a letter of intent to explore market education and training collaboration. A letter-of- intent signing ceremony was held in Seoul, where Christopher Mead, managing director, marketing, CME Group, and Sang-Hun Chun, managing director, KOFIA, were the signatories,… Read More >>
CFTC Charges U.K. Firm Played Key Role in Flash Crash
The CFTC is bringing enforcement actions against an individual and his firm for allegedly contributing to the May 6, 2010 Flash Crash, according to the regulator. The CFTC complaint charges U.K. resident Navinder Singh Sarao and his firm Nav Sarao Futures Limited PLC with “unlawfully manipulating, attempting to manipulate, and spoofing — all with regard… Read More >>
CME Group Fills Top Post in Asia-Pacific
CME Group, operator of key derivatives exchanges, reports that it has named Christopher Fix managing director and head of Asia Pacific. Fix, who joins the company in June, will be based in Singapore and report to London-based William Knottenbelt, senior managing director and head of International, CME Group. Fix will be “responsible for leading CME… Read More >>
BGC Partners Succeeds in Hostile Takeover of GFI Group
It looks like interdealer broker BGC Partners finally has its bid for rival brokerage GFI Group sewn up, with GFI’s board agreeing Friday morning to fully support BGC’s takeover bid. After reaching the deal with GFI Group’s board, BGC officials are extending its $6.10-per-share tender offer to Feb. 26, from its previous deadline of Feb…. Read More >>
CME Group Unveils List of Board Candidates
Derivatives and clearing services marketplace CME Group has announced its candidates for its board of directors, officials say. Elections will be held at the company’s annual meeting on Wednesday, May 20, 2015. CME Group’s board of directors has recommended that Class A and Class B shareholders, voting together, should elect the following 19 individuals to… Read More >>
