CloudMargin & Ivno Bring DLT to Collateral & Margining CloudMargin, maker of a cloud-native collateral and margining solution, is working with Ivno, a financial markets tokenization vendor, to develop a collateral management solution that uses distributed ledger technology (DLT) and cloud computing, officials say. Their new strategic partnership will leverage Ivno’s DLT strengths and CloudMargin’s… 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 >>
CME Group Ends Most Open Outcry Trading
Eurodollar Options Pits to Stay Open Derivatives exchanges operator CME Group has announced that the physical trading pits shut down since March 2020 because of the COVID-19 pandemic will remain permanently closed as global financial markets move toward a post-pandemic phase. Not all open outcry venues will close, though. “The Eurodollar options pit, which was… Read More >>
CFTC Pursues Alleged Bitcoin Swindler Gone Missing
It looks like a classic case of take the money and run. Following its investigation, the Commodity Futures Trading Commission (CFTC) has gone to the United States District Court for the Southern District of New York and been awarded a massive default judgment against an alleged bitcoin fraudster. That alleged bitcoin fraudster is one Benjamin… Read More >>
Gensler’s SEC Chair Nomination Advances Amid GOP Pushback
Gary Gensler, President Joe Biden’s nominee for SEC chairman, last week won the approval of the U.S. Senate Banking Committee by a vote of 14 in favor to 10 against, signaling some resistance among Republicans as his nomination moves to a full vote before the U.S. Senate. If approved by the Senate, Gensler and the… Read More >>
BNY Mellon & Google Cloud Take On Treasury Settlements
BNY Mellon to Apply Google Cloud Technologies The Bank of New York Mellon (BNY Mellon) will be using Google Cloud technologies to help U.S. Treasury market participants “better predict billions of dollars in daily settlement failures,” officials say. The combined effort is also intended to “generate significant capital and liquidity savings, and unlock operational efficiencies,”… Read More >>
Client Surge Spurs Xenomorph to Open Boston Office
Boston Office to Serve Surge of New Clients London-based Xenomorph Software, an enterprise data management (EDM) and analytics solutions provider, has opened an office in Boston — its second office in North America — in response to a surge of new asset management and hedge fund clients in the Boston area. Xenomorph opened its first… Read More >>
ICE Unit Settles Charges of Failed Pricing Compliance
A securities pricing subsidiary of the Intercontinental Exchange (ICE) has settled with the SEC over charges that it should have done a better job of vetting certain prices that were based on data from single broker market participants. The wholly-owned subsidiary, ICE Data Pricing and Reference Data (PRD), which is also a registered investment adviser,… Read More >>
CFTC Fines Citi for Glitchy Audio Recording System
The Commodity Futures Trading Commission has fined specific Citibank swap dealers who erased key 2018 recordings that were meant for preservation and review by the CFTC’s division of enforcement. The CFTC’s $4.5 million penalty hits Citibank N.A. and Citigroup Energy Inc., two registered swap dealers, and Citigroup Global Markets, Inc., a registered swap dealer and… Read More >>
Morgan Stanley Settles Swaps Reporting Case for $5M
The Commodity Futures Trading Commission reports simultaneously filing and settling charges against Morgan Stanley Capital Services LLC, a provisionally registered swap dealer, for its alleged failures to “comply with swap data reporting obligations.” The CFTC’s order requires Morgan Stanley Capital Services to “pay a $5 million civil monetary penalty and to retain a qualified outside… Read More >>
