The CME Group, which operates derivatives exchanges, and GCSA Capital, a provider of collateral and risk transfer solutions, have been developing an additional form of collateral — a letter of credit issued by a bankruptcy-remote trust — acceptable for use via CME Clearing. The two companies have been readying the Prefunded Treasury Facility (PTF), a… Read More >>
CME Group to Buy NEX Group for $5.5 Billion
Derivatives exchange operator CME Group Inc. is set to acquire NEX Group plc for an estimated $5.5 billion and, if all goes well, the combined provider of transaction processing across futures, cash and over-the-counter (OTC) instruments will be able to offer many post-trade capabilities beyond clearing services. The CME Group encompasses: CME Clearing; the Chicago… Read More >>
Derivatives Pioneer Leo Melamed to Retire from CME Group
Derivatives industry veteran Leo Melamed will retire from the CME Group board of directors, where is serving as chairman emeritus, at the conclusion of his current term in May 2018, officials say. After his retirement, Melamed will act as a consultant to the CME Group for the next two years. “After that time, Melamed will… Read More >>
Global Stock Exchanges Steam Ahead
Despite political and economic uncertainty, global stock exchange groups have powered through, generating strong results in the first half of 2017. Total revenues hit $14.7 billion, up 4.1 percent from a year earlier and an annual record is expected to be set by the end of the year, according to a recent report from consultancy… Read More >>
NEX Optimisation CEO to Leave as Division Revamps
Global COO Ken Pigaga to Be New CEO of NEX Optimisation Jenny Knott, the CEO of the NEX Optimisation post-trade division of NEX Group, is stepping down from her post as the division undergoes a restructuring, according to NEX Group officials. In addition, Ken Pigaga, global chief operating officer (COO) of NEX, has been appointed… Read More >>
Merrill Lynch Settles CFTC Case of Supervisory Breaches
The CFTC has required Merrill, Lynch, Pierce, Fenner & Smith Inc. to pay a $2.5 million civil monetary penalty for “failing to supervise its employees’ and agents’ handling of the firm’s response to a CME Group investigation into futures block trade execution and recordkeeping practices at Bank of America.” Bank of America, N.A., or BANA,… Read More >>
CME to Close European Derivatives Exchange & Clearinghouse
CME to Complete Closures by the End of 2017 Citing customer preferences for its U.S. infrastructure, CME Group officials report that they will be closing the London-based derivatives exchange, CME Europe, and the clearinghouse, CME Clearing Europe, by the end of the year, officials say. For the dismantling, CME Group officials will be working… Read More >>
CME Gets New View into its Cloud via Gigamon
(Editor’s note: A self-described traffic visibility solutions provider, Gigamon is working with the CME Group, which is a collection of derivatives marketplaces, to deploy the Gigamon Visibility Platform on Amazon Web Services (AWS). The Gigamon solution offers visibility into data-in-motion within the exchange’s Virtual Private Cloud (VPC) deployed via AWS. The Gigamon Visibility Platform helps… Read More >>
CME Group Fills New Post-Trade Exec Post
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 >>
