The Commodity Futures Trading Commission (CFTC) has approved final rules to amend its large trading reporting regulations for futures and options to modernize the position reporting system and align it with other CFTC reporting structures Unless there is a major setback in its acceptance, a revamped system of collecting information on a trader’s entire position… Read More >>
Paxos Takes On Settlement for the Commodities Market
The people behind the regulated blockchain and tokenization infrastructure platform Paxos want to make a point about the need for a more efficient settlement infrastructure for the commodities market. To help make their point, the Paxos system offers “multilateral payment netting and simultaneous settlement for the unallocated, over-the-counter (OTC) precious metals market,” officials say. In… Read More >>
‘Cowen Digital’ Launches & Other News Briefs
Cowen Division Focuses on Digital Asset Custody Cowen Inc. has officially launched the Cowen Digital division to provide a platform for trade execution and custody solutions that support digital assets traded by institutional clients, officials say. The new division, based in Stamford, Conn., offers custody solutions via Cowen’s partnership with PolySign’s Standard Custody & Trust,… Read More >>
Morgan Stanley Joins ICE Futures Abu Dhabi Exchange
IFAD Offers Hedging for Murban Oil Investment banking giant Morgan Stanley & Co. has joined the ICE Futures Abu Dhabi Exchange (IFAD), a new trading venue of exchanges operator Intercontinental Exchange, Inc. (ICE), officials say. Morgan Stanley will be an exchange and clearing member. To offer ways to trade and hedge Murban crude oil, ICE launched… Read More >>
TP ICAP Rebrands ‘Data & Analytics’ as Parameta Solutions
Interdealer broker TP ICAP has launched Parameta Solutions, a rebranding of TP ICAP’s data, analytics, and post-trade offerings businesses — a decision that was led by clients, officials say. The new branding became official Monday, April 12, and will not result in any staffing changes, Jamie Bailey, head of marketing at Parameta Solutions, tells FTF… Read More >>
Deutsche Bank Resolves Bribery & Fraud Probes
Deutsche Bank has signed a coordinated resolution with the SEC and the U.S. Department of Justice that for $130 million resolves investigations of a commodities fraud scheme and a conspiracy to cover payments to people who facilitated bribes of foreign officials. The agreement specifies that Deutsche Bank will pay more than $120 million in fines… Read More >>
NYSE Trading Floor to Reopen May 26
NYSE President Announces Floor Reopening via WSJ The open outcry trading floor of the New York Stock Exchange (NYSE) will partially reemerge “slowly and carefully” on May 26, according to Stacey Cunningham, president of the NYSE, who made the announcement via an opinion piece in The Wall Street Journal, published May 14 The return of… Read More >>
Deciphering Traders’ Jargon for Criminal Intent: Q&A
(Editor’s note: When the news hit that Standard Chartered had been fined $40 million via foreign exchange (FX) trading rigging charges, Juan Diego Martin, chief operating officer (COO) of Fonetic, reached out to FTF News to express his opinion about the matter. “Events like today show that missing any nefarious trader communications is no longer… Read More >>
CFTC Focuses on Crypto Currency Listings
Earlier this week, the CFTC via its Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) released an advisory that sets up guidelines for CFTC-registered exchanges and clearinghouses registered that want to list virtual currency derivative products. But, before we dive into the new details, it’s useful to review what the CFTC… Read More >>
BNP Paribas Deploys Managed Service for Listed Derivatives
BNP Paribas has gone live with a hosted, derivatives trading platform for a complex workflow of listed derivatives trading operations in Europe, Asia-Pacific and North America. Bank officials add that they expect the deployment to boost customer service via the platform’s cross-asset capabilities. The platform from vendor Fidessa has been set up as “a fully-managed… Read More >>
