EXCHANGE NEWSWIRE, 17 September 2010
CFTC announced that more than 200 entities would be entitled swap dealer status and that there would be up to 30 new swaps execution facilities under new OTC regulations. CFTC’s proposal on greater collection of futures trading accounts ownership data was met with opposition from industry officials who said this risks being too costly and onerous at the SEC-CFTC meeting.
CME apologized for the fake orders mistakenly placed on its active markets last Monday and promised to compensate for losses incurred.
CME appointed Michael C. Prokop as Managing Director of Energy Products in Houston. Mr. Prokop was previously Amerex Energy’s head of oversight and development of futures and clearing operations, data business and regulatory affairs. He was also on CFTC’s Energy and Environmental Market Advisory Committee and the Committee of Chief Risk Officers.
Nasdaq OMX CEO, Robert Greifeld, said that the addition of circuit breakers and the elimination of sub quotes would reduce the probability of another “flash crash.’’
TOCOM announced the amendment of its night session’s closing time from 23:00 JST to 4:00 JST starting September 21.
TSE selected NYSE Technologies to construct and support the exchange’s new futures trading platform, which will introduce market-making and closed-auction facilities, as well as inter-commodity spreads.
SGX: SICOM will launch a new commodity clearing service for OTC rubber contracts on October 11.
ASX selected Markit’s dividend forecasts in its model for equity options pricing to “further enhance the accuracy and integrity of the settlement prices generated by the ASX,” according to Senior Manager of ASX Institutional Sales, David Stocken.
BATS will launch of an improved routing services offering, including simple aggressive pricing for multiple market center access, on its BATS Options platform by October 1. Its new Parallel D smart routing strategy will also be rolled out by then.
MCX will partner the International Business Leaders Forum of India (IBLF) to set up 50 rural service centers at which rural farmers can trade, linking them with the formal economy and giving them information access.
The Indian government announced it would introduce parliamentary legislation that permits the trading of commodity derivatives and options in goods, as well as empower the Forwards Markets Commission with more autonomy to regulate the market. The bill is still awaiting parliamentary approval.
The Association of Financial Markets in Europe (AFME) named Simon Lewis as its CEO and Mark Austen as COO. Lewis was most recently official spokesman for UK PM Gordon Brown and strategic communications advisor for UK Trade and Investment, while Austen was previously AFME head of markets policy.
Provided By: Equity Research Desk, www.erdesk.com