Barclays Capital Inc., a member of FINRA, the broker-dealer industry’s self-regulatory authority since 2007, has agreed to a censure and a $2.5 million fine for allegedly failing to report, or inaccurately reporting, over-the-counter (OTC) options positions to the Large Options Positions Reporting (LOPR) system. That alleged reporting hiccup happened approximately 4.3 million times from January… Read More >>
BofA Securities Fined $5M via OTC Reporting Case
“Oops, I did it again” might work as an excuse once, maybe even twice, especially if accompanied by a twinkly smile. But 7.4 million times? It’s not that innocent, as Britney might say. Let’s all sing along with the verse: FINRA, the self-regulating authority for U.S. broker-dealers, which is overseen by the Securities and Exchange… Read More >>
Iress Completes QuantHouse Integration via Team Launch
New Iress Team to Drive Combined Solutions Financial technology provider Iress has completed its integration of the offerings of QuantHouse — acquired two years ago — with the launch of the Iress API Data and Trading Solutions team, which will drive the sales and support for a suite of trading data solutions and managed services,… Read More >>
NYSE Arca Options Trading Floor to Partially Reopen
A West Coast options trading floor affiliated with the New York Stock Exchange (NYSE) will be partially reopening on Monday, May 4 — a possible harbinger of other open outcry trading floors resuming in-person operations as the economy re-emerges from the pandemic lockdown. The announcement came via an alert to traders on April 28 from… Read More >>
NEX & CFETS Launch Platform for FX Trading in China
FX Platform Launched in Phases NEX, a financial technology company, reports that it has partnered with the China Foreign Exchange Trade System (CFETS), China’s interbank market trading platform and infrastructure provider, to launch CFETS FX2017, a new trading platform for the Chinese foreign exchange (FX) market. CFETS launched the first phase of FX2017 with a… Read More >>
CFTC Penalizes Morgan Stanley for Large Trader Omissions
The CFTC has ordered Morgan Stanley and Co. to pay a $350,000 penalty for omitting futures and options data from its required part 17 large trader reports. Morgan Stanley’s omissions spanned a 10-year period, from 2007 to 2017, and affected “thousands of line items of information,” according to the CFTC’s order, which simultaneously filed and… Read More >>
CloudMargin Launches “FlightPlan” for Uncleared Margin Regs
CloudMargin Site Features Interactive Tools CloudMargin, a London-based vendor of web-based collateral and margin management solutions, has just launched what it says is an interactive “FlightPlan” microsite to help firms “navigate the uncleared margin rules and other regulations impacting their collateral management function,” officials say. The microsite, designed by Eight Arms, offers interactive digital tools… Read More >>
China Renaissance Deploys Fidessa Trading Systems
Firm Says Platform Will Help Its Outreach to Investors China Renaissance, an investment banking, securities and investment management firm with headquarters in Beijing and Shanghai, has deployed an Asian trading platform from vendor Fidessa. The new IT backbone will support the expansion of the firm’s equities business across Asia via a centralized order management… Read More >>
CME to Offer CCP Services in Europe
CME to Offer Clearing for Global Firms The Chicago Mercantile Exchange Inc. (CME) has gotten the approval of the European Securities and Markets Authority (ESMA) to operate in the European Union as central counterparty clearinghouse (CCP). The notice came as part of an ongoing update of approved CCPs based in third countries, according to ESMA… Read More >>
Northern Trust Hires from Blackrock
Northern Trust Asset Management Fills Senior Posts Northern Trust Asset Management, with $875 billion in assets under management (AUM) as of the end of 2015, reports two senior appointments to its London-based asset management group. Aaron Overy has been named to a senior institutional sales post, with a primary focus on the U.K. market, and Nigel… Read More >>
