City of London-based Gresham Computing plc, a provider of transaction control solutions, reports the launch of Clareti Transaction Control (CTC) Transaction Reporting. The CTC Transaction Reporting solution allows a financial institution to “verify and validate that trades reported to trade repositories comply with the requirements of regulations for eligible trades under Dodd Frank, EMIR, REMIT,… Read More >>
Ex-NYSE CEO Joins Tera as Advisory Director
Tera Group, the parent company of the TeraExchange derivatives trading platform, reports the appointment of former New York Stock Exchange CEO Duncan Niederauer as an advisory director. In that capacity, Niederauer will “provide the firm with strategic advice and insight on growth strategies,” according to a Tera statement. “In addition, he will participate in select senior-level client… Read More >>
Uncleared Swaps Get a Reprieve on Margin Requirements
When regulators recently extended the deadline for the margin requirements on uncleared swaps from Dec. 1, 2015 to Sept. 1, 2016, they gave firms some breathing room, but also sent the clear message that the rules aren’t going away. Firms active in the swaps markets are breathing a sigh of relief, but that shift should… Read More >>
Regulatory Compliance Tops List of Ops Burdens
A white paper from financial messaging and systems cooperative SWIFT finds that regulatory concerns tower over other operational challenges for the buy side in 2015. Research commissioned by SWIFT also shows that buy-side firms are grappling with automation and financial crime compliance initiatives. The findings came as a result of survey and are offered via… Read More >>
Ex-Deriv/Serv CEO to Join GMEX Boards
Sandy Broderick has been appointed as a non-executive director to the boards of GMEX Technologies Ltd.; Global Markets Exchange Group Ltd. (GMEX) which operates GMEX Exchange; and Global Derivatives Indices Ltd. (GDI), officials say. Broderick will also serve as chairman of GMEX. Broderick most recently served as CEO of DTCC’s Deriv/Serv, capping 25 years of… Read More >>
Liquidnet Bolsters Execution Services Group
Institutional trading network Liquidnet has hired Chris Jackson as the European head of Liquidnet’s Execution and Quantitative Services (EQS) Group, officials say. In his new role, Jackson will be responsible for “setting the strategic direction of the European Trading Desk and Algorithmic Services Group, as well as heading up the senior sales effort for Liquidnet’s… Read More >>
Barney Frank: Dodd-Frank’s Future Depends on 2016 Election
The future of the Dodd-Frank Act depends on the outcome of 2016 presidential election, says former U.S. Congressman Barney Frank, co-author of the massive financial services reform legislation. Frank says the law will be repealed if the Republicans win the White House, Senate and House of Representatives next year. During an appearance on a radio… Read More >>
ICE Futures Hit with $3M Penalty for Trade Reporting Errors
Derivatives marketplace ICE Futures U.S. has been slapped with a $3 million civil monetary penalty by the CFTC over repeated failures to comply with trade reporting requirements over a 20-month period, officials say. ICE Futures U.S. is a futures and options exchange for agricultural, energy and financial contracts. It is part of the Intercontinental Exchange… Read More >>
Q&A: ‘Banks have always engaged in loophole mining’
On March 10, the Museum of American Finance released Genealogy of American Finance, published by Columbia Business School Publishing. Written and researched by financial historians Dr. Robert E. Wright and Dr. Richard Sylla, the book explores the history of how the 50 largest American financial institutions came to be, tracing out a complex family tree… Read More >>
New Chief Information Officer for the OCC
Chicago-based OCC, the equity derivatives clearing organization also known as the Options Clearing Corp., reports that Luke Moranda has joined as senior vice president and chief information officer (CIO). He will replace Raymond Tamayo, who had previously announced his intention to retire in 2015, and will report to Michael McClain, OCC president and chief operating… Read More >>
