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 >>
NYSE Group Advances Pillar Platform Rollout
After completing a key rollout phase last week, NYSE Group officials report that they are continuing to test a new transaction processing system intended to streamline access to equities and options markets. Officials alerted traders about the NYSE Pillar system and its symbol migration steps this past Thursday. “Beginning tomorrow, Friday, February 26, 2016 all… Read More >>
Former NYSE Technologies Sales Exec Joins Options
Options, a cloud-based services and IT infrastructure provider to capital markets, has appointed a former NYSE Technologies sales executive, Helen Viccars, to the global sales team, officials say. Viccars, who was responsible for EMEA sales and account management at NYSE Technologies, joins Options as vice president, the European sales and account management team, officials say…. Read More >>
Goldman Sachs Hit with $7M Penalty for Software Glitch
U.S. regulator, the SEC has hit investment banking giant Goldman Sachs with a $7 million penalty for allegedly violating the market access rule, “in connection with a trading incident that resulted in erroneous executions of options contracts,” officials say. An SEC investigation found that Goldman sent out roughly 16,000 mispriced options to various exchanges in… Read More >>
I-Star Gets Option access to Osaka Exchange
Nomura Research Institute, Ltd. (NRI), a consulting and system solutions vendor, has added a “weekly option dealing” component to the I-Star securities back-office solution, officials say. The new component provides access to new options on the Nikkei Stock Average, contracted by the Osaka Exchange. The new component is scheduled to be made available via the… Read More >>
OptionsCity Taps Eze Software for New Sales VP
Electronic trading vendor OptionsCity Software has hired Dan Rooney as its new vice president of global sales, officials say. Before joining OptionsCity, Rooney was the managing director of sell-side sales at Eze Software, officials say. Before that position, he was the CEO of RealTick EMS, a hosted solution for financial applications. He oversaw RealTick’s expansion… Read More >>
Is There Life After the Pits Close?
Last week when the CME Group announced it would be shutting down 17 open outcry futures trading pits in Chicago and three pits in New York by July 2, it was almost anticlimactic. Most participants in the industry knew that the outcry era was on its way out a long time ago. Some even correctly… Read More >>
CFTC Taking Comments on Possible Bitcoin Options Exchange
CFTC officials are asking for public comment on LedgerX’s bid to become the first options exchange and clearinghouse for the crypto-currency bitcoin. If LedgerX is successful, it will be another sign of the growing support for bitcoin-supported transactions. Described as “a non-political online money, Bitcoin is backed exclusively by code,” according to the Bitcoin Foundation… Read More >>
Options Opens Belfast Office
Options, a private financial cloud provider for the capital markets industry, reports that it has opened a new office in Belfast, Northern Ireland. The office is expected to create a total of 31 new financial technology jobs, according to a company statement. Options currently employs more than 100 staff globally and has already started hiring… Read More >>
SEC Gets New Head of Trading and Markets as Compliance Science Appoints Chief of Product Strategy
SEC Names Head of Trading and Markets Division The SEC has named Stephen Luparello, a former FINRA vice chairman, as director of its division of trading and markets, replacing John Ramsay, the acting director who is leaving this month after three and a half years of service, SEC officials say. Ramsay, who was appointed deputy… Read More >>
