In a step toward the nirvana of harmonization, the CFTC and European Commission (E.C.) moved forward with an agreement to accept the legitimacy of each other’s rules on swap margin agreements and to allow swap trading venues under their jurisdictions to follow their home region’s rules. The two-part agreement covers the comparability of trading platforms… Read More >>
HFT Does Not Require Regulation Yet in U.K.: BoE Exec
The rise of high frequency trading in stock, bond and currency markets and accompanying flash crashes does not necessitate immediate regulatory action, according to Chris Salmon, executive director for markets at the Bank of England (BoE). Speaking at the 13th Annual Central Bank Conference on the Microstructure of Financial Markets in London, Salmon says “though… Read More >>
FTF Focus Spotlights the 2016 FTF Awards Winners
For the sixth year in a row, Financial Technologies Forum (FTF) sponsored the FTF News Technology Innovation Awards competition to help securities industry professionals shine the spotlight on the outstanding companies, individuals and industry groups that have achieved excellence in post-trade operations. The key winners for 2016 are featured in the special Awards Issue… Read More >>
U.K. Firms Told to Keep to MiFID II Timetable
In the current period of post-Brexit limbo, questions are being asked over the fate of impending European regulations such as the Markets in Financial Instruments Directive II (MiFID II) which is due to come into force in 2018. While tempting to push it down the agenda — it has been continually delayed — financial institutions… Read More >>
‘Brexit’ Woes Start to Ripple Through Markets
Britain will be holding a referendum to allow the citizens of the United Kingdom (U.K.) to decide whether or not to stay as part of the European Union (E.U.), an effort that is like to cause many ripples in global financial markets before the definitive vote on June 23. The potential British exit, or Brexit,… Read More >>
SEC Closes Loophole for Security-Based Swaps
The SEC is moving to close a loophole in cross-border, security-based swaps trading that allows firms to sidestep U.S. regulation and facilitates regulatory arbitrage between markets in the U.S and the European Union. In a vote last week, the SEC adopted rules that “require a non-U.S. company that uses personnel located in a U.S. branch… Read More >>
CFTC Designates NFA as SDR Data Recipient
CFTC Designates NFA as SDR Data Recipient The CFTC issued an order authorizing the National Futures Association (NFA) as “a designee to receive access to data maintained by swap data repositories (SDR),” officials say. The NFA is touted by the CFTC as the “only registered futures association (RFA)” actually registered with the commodities regulator. “As… Read More >>
Barclays, Credit Suisse Pay for Dark Pool Violations
Barclays Capital Inc. and Credit Suisse Securities (USA) LLC will pay a combined total of $154.3 million to the State of New York and the SEC to settle investigations into “false statements and omissions made in connection with the marketing of their respective dark pools and other high-speed electronic equities trading services,” according the office… Read More >>
ICE Promotes to Fill Senior Management Posts
ICE Promotes Senior Managers Intercontinental Exchange, Inc. (ICE), the operator of clearinghouses, data services and such exchanges as the New York Stock Exchange, reports the following senior management moves: Ben Jackson, president and chief operating officer (COO) of ICE Futures U.S., has been named to the newly created post of ICE chief commercial officer, where… Read More >>
Sapient Debuts Portal to Compliance Platform
With the official debut of the CMRS Portal, an outsourced, “low-touch” web link, consultancy Sapient Global Markets is targeting smaller securities firms that have a fairly low volume of derivatives trades to report to regulators and other organizations. The CMRS Portal will allow firms to use the services of the established Sapient CMRS (Compliance Management… Read More >>
