CME Group Promotes Two Veterans CME Group reports that Julie Winkler has been named chief commercial officer (CCO) and Kim Taylor has been named president, Clearing and Post-trade Services, a newly created post. Both Winkler and Taylor are CME veterans, with Winkler joining in 1996 and Taylor in 1989. Winkler will oversee sales, product marketing,… Read More >>
SEF for Rolling Hemp-Backed Trades Joins FinTech Sandbox
Seed CX, a Chicago-based, new swap execution facility (SEF) for trading hemp as a commodity, has just been selected by the FinTech Sandbox to join its community of innovators, an opportunity that follows shortly after the CFTC approved the SEF. The SeedCX SEF’s mission is to help agricultural market participants to hedge risk and to… 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 >>
U.K. Watchdog Challenges ICE’s Trayport Acquisition
The Intercontinental Exchange (ICE) is pushing back on the provisional findings from the UK’s Competition and Markets Authority’s (CMA) in-depth investigation showing that ICE’s $650 million acquisition of London-based Trayport, a trading software provider, could reduce competition. According to Simon Polito, chair of the CMA’s inquiry, “We examined the merger’s competition risks and given the… Read More >>
New FIX Version Supports Nanosecond Connections
A version of the FIX electronic trading protocol that supports high-performance transactions and data feeds is officially launching via the FIX Trading Community standards body, in an effort to help securities firms keep up with high-speed hardware, software and network connections. The standards body is releasing “a standard, non-proprietary binary message encoding” upgrade, dubbed the… Read More >>
CFTC Issues Final Rule for Cleared Swaps Reporting
The CFTC reports that it has approved a final rule meant to bring “additional clarity” to existing cleared swaps reporting regulations and procedures. The rule codifies reporting obligations for counterparties and registered entities and improves the “efficiency of data collection and maintenance associated with the reporting,” the CFTC says. The commission’s own detailed analysis of… Read More >>
CME to Offer CCP Services in Europe
CME to Offer Clearing for Global Firms The Chicago Mercantile Exchange Inc. (CME) has gotten the approval of the European Securities and Markets Authority (ESMA) to operate in the European Union as central counterparty clearinghouse (CCP). The notice came as part of an ongoing update of approved CCPs based in third countries, according to ESMA… Read More >>
Collateral Management Ascends to the Cloud
A major provider of derivatives trading venues, CME Group and CloudMargin, a collateral management services provider, are offering CME Clearing and CME Clearing Europe clients a cloud-based option to facilitate collateral management. “This is a way to outsource the technology used to manage collateral,” says Karl Wyborn, managing director, global head of sales, CloudMargin, in… Read More >>
Markit, ISDA Move to Settle EU Probe
Markit, the U.K. data provider, and the International Swaps & Derivatives Association (ISDA), an industry trade group, have offered concessions in an effort to settle a European Union antitrust investigation into possible collusion in the credit default swaps (CDS) market, according to the European Commission. The Commission is seeking feedback from interested parties on the… Read More >>
Brexit Could Put U.K. Clearinghouses in Limbo
The Brexit wars are heating up in the U.K. as the European Referendum draws closer but it is still too early to call the outcome. In the meantime, President Obama lent support to the remain or stay-in campaign during his recent visit to the U.K. But the leave party is doing its level best to… Read More >>
