CME Group officials report that they will close the exchange company’s New York trading floor for outcry trading by the end of 2016 because of declining volumes for open outcry options. The affected venues are the Commodity Exchange (Comex), a designated contract market that offers products subject to Comex rules and regulations, and the New… Read More >>
ISDA Sets 2016 Credit Event Committees
ISDA Designates Groups to Oversee Credit Events The International Swaps and Derivatives Association, Inc. (ISDA) has reported the 2016 composition of its five regional determinations committees (DCs), which are responsible for determining whether a “credit event” has occurred in the derivatives market. The ISDA defines a credit event as either a bankruptcy, an obligation acceleration,… Read More >>
BAE Profiles ‘World’s Most Dangerous Cybercriminals’
Six Types of Cybercriminal to Avoid BAE Systems, the London-based, multinational security company, recently released profiles of “six prominent types of cybercriminals” and detailed how they could hurt companies around the globe, officials say. Threat intelligence experts at BAE Systems have compiled a list, “The Unusual Suspects,” that has been created from “research that uncovers… Read More >>
Commerzbank Signs On for Hosted Margining
A German firm, Commerzbank, is the first sell-side institution to use OpenGamma’s new, hosted margining service as the bank grapples with the rise in demand for pre-trade margin comparison requests, bank officials say. The hosted OpenGamma for Margining “comes at a time when Category 2 market participants are just two months away from joining Category… Read More >>
CME May Spur Bidding War for the LSE
There is a sense of déjà vu in the air with talk of a $28 billion merger between Deutsche Börse and the London Stock Exchange Group (LSEG). The two have been circling around each other for years but as in the past, rival exchanges may try and break the bond. This time around the Intercontinental… Read More >>
Green Key Technologies Hires Former Goldman Sachs Exec
Green Key Technologies Names Paul Christensen as CEO Voice-trading software systems vendor Green Key Technologies has appointed a former Goldman Sachs executive Paul Christensen, 44, to be its new CEO, tasked with taking the vendor to next level, officials say Regarded as a leading expert on global market structure issues, Christensen most recently served as… Read More >>
CME Group to Start Swaption Clearing in April
CME Clearing, part of the CME Group conglomerate of derivatives marketplaces, reports that it will begin processing interest rate swaptions, starting April 11, in a bid to cut bilateral counterparty credit risk and to free up credit lines, say CME officials. The service will also target firms that want to get ahead of the regulators… Read More >>
ISE Fills Two Executive IT Management Posts
ISE’s Chief Information Officer to Retire in April The International Securities Exchange (ISE) reports that Robert Cornish, its current chief technology officer (CTO), will move to the post of chief information officer (CIO) on the April retirement of current CIO Daniel Friel, while Thomas Reina, the current senior vice president, technology development, will become CTO…. 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 >>
BGC Partners Sells Trayport to ICE
Intercontinental Exchange (ICE), the exchanges and clearinghouses network that includes the New York Stock Exchange, reports entering into a definitive agreement to acquire London-based vendor Trayport for $650 million in ICE common stock, representing approximately 2.5 million shares. Trayport, which licenses its technology platform to brokers for electronic and hybrid trade execution, primarily in the European over-the-counter… Read More >>
