After three years of often bitter political squabbling, the European Commission and its U.S. counterpart the commodities regulator CFTC finally reached an agreement on a common approach to equivalent recognition of central clearing counterparties (CCPs). The two sides, which oversee around 90 percent of the $553 trillion derivatives market, have been at loggerheads over mutual… Read More >>
CBOE and EFP to Launch Lending Exchange
Environmental Financial Products, LLC (EFP) and CBOE Holdings, Inc. (CBOE) report their intention to launch the American Financial Exchange (AFX), an electronic marketplace for small and mid-sized banks looking to lend and borrow short-term funds. AFX will also feature weekly auctions of a new, transaction-based benchmark rate for U.S. interbank lending, to be called Ameribor…. Read More >>
Borsa İstanbul Picks Orc for Connectivity
Orc, a specialist in electronic trading technology for listed derivatives, reports that its interface with Turkey’s Borsa İstanbul now “enables quoting and trading” for all Orc clients on the exchange that are using the Orc Execution Bricks or the Orc Trading Bricks platforms. “Turkey is becoming an increasingly attractive market, with a steady rise in… Read More >>
Orc Tbricks Offers Links to CBOE, CFE
Trade technology vendor Orc has announced that its next-generation Orc Tbricks trading platform will now offer a certified interface to the Chicago Board Options Exchange (CBOE), as well as the CBOE Futures Exchange (CFE), officials say. The solution comes from Orc’s recent acquisition of Tbricks, which offers customizable pricing, volatility management, risk management, team quoting… Read More >>
The Cyber-Attacks Are Getting Worse
As I predicted in previous postings, the cyber-attacks have gotten worse. Earlier this week, “hacktivists” slammed the websites of Nasdaq OMX, Bats Trading, the Chicago Board Options Exchange and Bursa Malaysia, causing outages although trading systems were spared. These latest attacks make clear that financial centers can no longer ignore these threats and that they… Read More >>
