Broadridge Financial Solutions has just launched a Software-as-a-Service (SaaS) platform, dubbed Broadridge Futures and Options (F&O), to “transform order and execution management capabilities for sell-side institutions,” according to the post-trade systems and services provider. The new F&O platform, which expands Broadridge’s support for derivatives trading, has been “tailored for futures commission merchants (FCMs) and agency… Read More >>
Singapore Exchange Completes Post-Trade Overhaul
The Singapore Exchange (SGX), whose component businesses facilitate equity and derivatives trading, has implemented new functions for centralized clearing, settlement and depository services via an incumbent centralized post-trade clearing solution from LSEG Technology. The implementation, which went live Dec. 10 last year, is described as an end-to-end, post-trade transformation for a tier 1 market, officials… Read More >>
Hong Kong Clarifies Rules for OTC Derivatives Trading
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) proposals on introducing mandatory clearing and expanding mandatory reporting for the second stage of the over-the-counter (OTC) derivatives regulatory regime is only the next stage of the territory’s staggered approach to implementing new derivatives rules. The actions were expected and sell- and… Read More >>
CFTC Targets the Op Risk of High-Speed Trading
The CFTC last week unanimously proposed new rules to cut risks related to high-speed trading via the algorithms used by designated contract markets (DCMs). Some analysts say the rules will give the regulator more tools to deal with this key aspect of derivatives trading. However, others caution that the regulator should not put forth rules… Read More >>
Nasdaq Launches Energy Derivatives Marketplace
The U.S.-based Nasdaq Futures, Inc. (NFX), an energy derivatives trading platform, has launched today, according to Nasdaq. The platform will start off by offering futures and options on oil, natural gas and U.S. power benchmarks, with a fee holiday for the first nine months of trading, officials say. All products will be cleared though the… Read More >>
The Pope Takes On Cap-and-Trade
Buried in Pope Francis’s recent 184-page papal encyclical, “Laudato Si’,” on the many issues entangled in environmental and climate change concerns was an interesting swipe at cap-and-trade systems. To recap, earlier this month Pope Francis issued a position paper that The New York Times describes as “sweeping in ambition and scope” that focuses on the… Read More >>
Tera Group & MGT to Propel Bitcoin Exchange via Merger
Tera Group, owner of Bitcoin derivatives bourse, TeraExchange, recently announced plans to merge with online gambling firm MGT Capital Investments, in a bid to drive future growth for TeraExchange, according to officials from both companies. Opening in September of last year, TeraExchange was the first regulated Bitcoin derivatives exchange in the U.S., and also maintains… Read More >>
Markit & Thunderhead Partner for MCA Service
Financial information services vendor Markit has partnered with Thunderhead.com, a provider of trade and relationship documentation services, to establish an online service for creating and negotiating master confirmation agreements (MCA), officials say. Under the partnership Markit will integrate Thunderhead.com’s One for Capital Markets, a software as a service (SaaS) product that automated the production, editing… Read More >>
Is the JPMorgan Penalty Just the Start?
The $13 billion penalty levied by the Justice Department and other officials against JPMorgan for its “serious misrepresentation” in the packaging of residential mortgage-backed securities is a clarion call for financial services firms that law enforcement and regulators are on high alert for RMBS-related fraud. The JPMorgan case is also a harbinger of more to… Read More >>
