NYSE President Announces Floor Reopening via WSJ The open outcry trading floor of the New York Stock Exchange (NYSE) will partially reemerge “slowly and carefully” on May 26, according to Stacey Cunningham, president of the NYSE, who made the announcement via an opinion piece in The Wall Street Journal, published May 14 The return of… Read More >>
Firms Ready but Wary as Volcker Rule Becomes Reality
When the Volcker Rule provision of Dodd Frank finally goes into effect on Tuesday, July 21, the banks affected will have already done most of the heavy lifting, industry observers say. But banks will still face an arduous few months as they struggle to pin down the practice of a law they’ve spent so long… Read More >>
Orient Securities Moves Into Shanghai Stock Exchange Market
Orc, a specialist in electronic trading technology for listed derivatives, reports that China’s Orient Securities Co. Ltd. has picked Orc’s Trading Bricks platform for its options market making operations on the Shanghai Stock Exchange (SSE). Trading Bricks “will support Orient Securities’ expanding market making operations in China,” Orc says in a statement, which notes also… Read More >>
Marco Polo New World Launches FX Matching Service
Manhattan-based Marco Polo New World, which specializes in emerging and frontier markets, reports that it has spent the past year upgrading its infrastructure to create a “foundation on which to extend the breadth of its service offerings.” The first result of the infrastructure upgrade is MPFX, a “matching engine and user interface [that] allows clients… Read More >>
Bank of the West Deploys OpenLink Findur
Financial and energy trading and risk management vendor OpenLink has announced that Bank of the West has implemented OpenLink’s Findur solution for its capital markets and treasury operations, officials say. The implementation at Bank of the West, a subsidiary of the BNP Paribas Group, included “a number of workflows to automate and facilitate both pre… Read More >>
LME Taps ICE for New CTO
The London Metal Exchange (LME) has named John Lee as its new chief technology officer (CTO), officials say. Lee will join LME’s executive committee and will report to Garry Jones, LME’s chief executive, officials say. His appointment is effective Jan. 26, 2015. Lee has more than 22 years of technology experience at financial exchanges, as… Read More >>
Virtu Financial to Provide Liquidity for GMEX
Global Markets Exchange Group (GMEX) reports that Virtu Financial, an electronic market maker, will become a liquidity provider for its GMEX Exchange. Virtu will participate in the exchange, to be operated by GMEX, and will “offer liquidity” in GMEX’s interest rate swap constant maturity future (CMF) contracts, according to a GMEX statement. “Orders will be… Read More >>
CFTC Allots More Time for Position Limits Rule
CFTC officials have submitted a clarification and notice regarding the reopened comment periods for its rulemaking proposals on position limits for physical commodity derivatives and aggregation. In early December, the regulator’s Agricultural Advisory Committee held a public meeting that discussed, among other things, deliverable supply and exemptions for bona fide hedging positions, officials say. To… Read More >>
