Intercontinental Exchange (ICE) officials have announced that the ICE Benchmark Administration (IBA) will introduce a new calculation methodology for ISDAFIX, starting Feb. 16, 2015, marking a new era for the global benchmark for interest rate swaps. ISDAFIX represents the average mid-market swap rates for three major currencies: the Euro (EUR), British pound (GBP) and U.S…. Read More >>
JPX Taps Nasdaq to Build Osaka Exchange
Japan Exchange Group (JPX) and Nasdaq have partnered to build a next-generation derivatives trading system for the JPX subsidiary Osaka Exchange, officials say. In addition to the trading system, which will operate on Genium INET technology, Osaka will tap SMARTS Market Surveillance for its real-time surveillance needs, supplied by Nasdaq technologies. “We are proud and… Read More >>
Q&A: Derivatives Meet the Cloud via Swaps Hub
Mani Pillai, president and founder of fintech startup Swaps Hub, took some time out of his busy schedule to speak with FTF News about this company, which plans to go live with its solutions in the third quarter of 2015. When it launches, Swaps Hub will offer aggregation and distribution services via a cloud platform… Read More >>
Chris Pickles Leads FIGI Push in Europe
Independent financial technology consultant Chris Pickles is leading a campaign in Europe to make the Financial Instrument Global Identifier (FIGI), originally from market data and news giant Bloomberg an industry standard. Pickles, who is based in the U.K., confirms that he is leading the effort to make the instrument identifier, once known as the Bloomberg… Read More >>
Q&A: Droit Just Wants to Become an Industry Standard
Two of the key players behind Droit Financial Technologies — Satya Pemmaraju, Ph.D., founding partner and CEO, and Brock Arnason, founding partner, head of product and strategic alliances — spoke recently with FFT News about the start of the company and how its wares can be applied to a post-trade reporting/compliance infrastructure. Q: Can you… 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 >>
CME, GFI Group Clear Hurdles for Merger
Derivatives marketplace CME Group and interdealer broker and financial technology provider GFI Group have received regulatory approval for CME Group’s previously announced acquisition of GFI Group, officials say. The acquisition still needs to be approved by GFI’s stockholders before it can proceed, and GFI will hold a special meeting of its stockholders on January 27… Read More >>
Ops Story of the Year: The Return of the T+2 Push
It’s been a dynamic year when straight through processing (STP) and the push for T+2 settlement cycles made big comebacks while disturbing layoffs and ongoing fines and penalties appeared to be on the rise. We at FTF News have compiled the following list of the top Ops stories, trends, new currents and online video coverage… Read More >>
CFTC Loses DSIO Director to SEC
CFTC officials report that Gary Barnett, director of the regulator’s division of swap dealer and intermediary oversight (DSIO), will depart the agency in January to take a senior position at the SEC. Tom Smith, currently deputy director for DSIO’s capital, margin and segregation branch (CMS), will become the DSIO interim director. Barnett joined the CFTC… Read More >>
Eurex Licenses GMEX’s CMF for Trading & Clearing
Global Markets Exchange Group, a wholly owned subsidiary of Global Markets Exchange Group International (GMEX), and Eurex, an international derivatives exchange market, report reaching a license agreement, under which Eurex will license GMEX’s Euro-denominated constant maturity future (CMF) for trading, via Eurex’s multilateral trade registration (MTR) service, and clearing on Eurex Clearing. In addition, “GMEX… Read More >>
