A U.S. regulator has cited Barclays Bank on charges of record-keeping violations and is imposing a $500,000 civil monetary penalty upon the bank, months after the U.K. banking giant was cited for problems with its submissions of large trader reports (LTRs) on physical commodity swap positions. The CFTC, the regulator in both cases, is now… Read More >>
Exchanges, Clearinghouses, CSDs Embrace DLT with Caution
The world’s largest securities exchanges, clearinghouses and central securities depositories (CSDs) are exploring the possibilities of blockchain/distributed ledger technology (DLT). But concerns remain as to whether the technology will deliver the promised goods of a more streamlined and efficient world, according to a new survey conducted by the World Federation of Exchanges (WFE) and the… Read More >>
CFTC, EU Finally Agree on a Clearing Deal
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 >>
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 >>
LCH.Clearnet Promotes for Head of CDSClear
Clearinghouse LCH.Clearnet has promoted Frank Sousan to global head of CDSClear, effective July 1, 2015, officials say. Sousan is currently head of In-Business Risk at CDSClear, and will be inheriting his new position from Gavin Wells, who will now “focus exclusively on ForexClear,” according to a company statement. Sousan will be based in Paris and… Read More >>
TTC Supports Eurex Clearing Prisma Margining
Officials at the Technancial Company (TTC), a provider of real-time risk management and trade surveillance tools, say they are “first to market” with offerings that support the new Eurex Clearing Prisma 2.05 real-time margin methodology. The announcement was made at the 40th Annual Futures Industry Association (FIA) Conference, March 10-13, at the Boca Raton Resort… Read More >>
GMEX Tech Expands Wares via Stake in Avenir
Global Markets Exchange Group International, a group of companies offering exchange services and support, has taken “a strategic stake” via its GMEX Technologies Ltd. (GMEX Tech) subsidiary in Avenir Technology Ltd., an English vendor providing post-trade software. The inclusion of Avenir’s offerings will enable GMEX Tech to offer an “end-to-end market infrastructure eco-system” of solutions… Read More >>
SEC Tackles Exchange Infrastructure Breakdowns
Earlier this week, the SEC voted to take on the technology infrastructure of the U.S. securities markets with Regulation Systems Compliance and Integrity (Regulation SCI), acknowledging that most trading now is electronic, highly interconnected and potentially devastating if infrastructure performance problems become widespread, say industry observers. Regulation SCI is a set of rules and regulations… Read More >>
