The Bank of Nova Scotia (Scotiabank) is settling major criminal and civil charges that it engaged in price-fixing and spoofing efforts via precious metals futures contracts. The Toronto-based bank has signed separate agreements with the U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC), with the combined fines totaling approximately $127.5 million. The… Read More >>
CFTC Puts Nymex, Comex Through Rule Enforcement Tests
CFTC Finds One Area for Improvement A rule enforcement review of the New York Mercantile Exchange (Nymex) and the Commodity Exchange (Comex) by the CFTC’s Division of Market Oversight has yielded a recommendation that both exchanges institute a better way to monitor position limit exemptions. Market participants can exceed position limits as long as they… Read More >>
CME to Close Outcry Options Trading in NYC
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 >>
EMIR Blesses CME Clearing Europe
CME Group, the derivatives exchanges operator, reports that its European clearinghouse, CME Clearing Europe, has received authorization under the European Market Infrastructure Regulation (EMIR) as a central counterparty clearing house (CCP). The authorization covers all over-the-counter (OTC) derivatives and futures products currently cleared by CME Clearing Europe, including interest rate swaps, energy and commodities, and… Read More >>
