CME Group, the Chicago-based derivatives marketplace created from a merger of the Chicago Mercantile Exchange and the Chicago Board of Trade, has announced what it characterizes as a “new leadership structure” intended to “better meet the needs of its global customer base,” according to a CME statement. The new structure will see the former… Read More >>
Ex-NYSE Euronext Exec to Head CME Europe
Derivatives exchange company CME Group has named former NYSE Euronext Amsterdam CEO Cees Vermaas as managing director and CEO of CME Europe Ltd., its London-based derivatives exchange, according to a CME Group statement. When Vermaas steps into his new role on Jan. 2, 2015, he will report to William Knottenbelt, CME Group senior managing director,… Read More >>
BGC Bid for GFI Challenges CME’s Offer
Interdealer broker BGC Partners wants to acquire rival GFI Group via a direct appeal to shareholders that could undo the CME Group’s two-step bid for GFI Group, announced in July. In addition to intermediary brokerage services, GFI offers trading technology and support services for over-the-counter and listed markets. The businesses for these services are playing… Read More >>
Brazilian Exchange Dives into Post-Trade Overhaul
BM&FBOVESPA, the merged Brazilian exchange operator, is delivering the first phase of a major post-trade processing overhaul via the launch of a clearinghouse for derivatives, intended to streamline and ease the collateral burden for its customers. An operator for securities and derivatives markets, BM&FBOVESPA provides registration, clearing and settlement services. It also acts as a… Read More >>
New Silver Benchmark Launches
Derivatives marketplace CME Group and news and market data provider Thomson Reuters have launched a new LBMA Silver Price mechanism in partnership with the London Bullion Market Association (LBMA), according to a CME Group statement. The LBMA Silver Price mechanism is an over-the-counter spot silver market with a new transaction-based price-setting mechanism that is IOSCO-compliant… Read More >>
London Bullion Market Picks CME Platform
CME Group, the Chicago-based derivatives exchange company, reports that it has been appointed by the over-the-counter (OTC) silver market and the London Bullion Markets Association to provide an electronic solution to transform the London OTC silver spot price situation, according to a statement citing CME’s William Knottenbelt, senior managing director, EMEA. The CME Group’s transaction-based… Read More >>
Aluminum Futures via CME
CME Group, a derivatives exchange and technology company, has begun trading North American physically delivered aluminum futures contracts. The first 56 contracts, with four different expiry months, were traded last week by Macquarie Bank Ltd., the executing firm, CME reports. “We’re pleased to see broad-based support for our new North American physical aluminum futures contract… Read More >>
Demand Soars for Recs IT as SIFMA Pushes LEI Usage
Reconciliation Technology ‘Explosion’ in Europe & U.S., Says Aite No longer is reconciliation technology “solely applied” to reconciling cash accounts. That’s the word from market research firm Aite Group’s latest report, “Reconciliation Technology Solutions in 2014: Recs Get Ready to Rumble,” which also takes note of the “explosion in the number of different vendor solutions… Read More >>
IBOR Support Coming for CRD’s IMS as CME to Launch in Europe
Charles River Embraces IBOR; Gains Client in Luxembourg Charles River Development (CRD) is integrating support for investment book of record (IBOR) in version 9.2 of the its Investment Management Solution (IMS) flagship order management system, following completion of beta testing with global client partners, officials say. The company describes its IBOR support as a… Read More >>
Chris Pickles Leaves BT as Custom House Execs to Stay Post-Merger
Chris Pickles Leaves BT to Start Consultancy Industry veteran Chris Pickles has left BT to work as an independent consultant, based in the U.K. “We can confirm that Chris Pickles has left his role as head of industry initiative, global banking and financial markets at BT,” says a BT spokesman. “We would like to thank… Read More >>
