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Category Archives: Exchanges, OTC & Clearing

Top news from exchanges, clearing, settlement and trade execution facilities

Nasdaq: Q&A with Oliver Albers – Data Is Revolutionizing Markets Standard

Three Changes to Enhance Fairness, Transparency and Competition Editors note: Nasdaq shared with John Lothian News an internally produced question and answer interview with Oliver Albers, SVP and Head of Strategic Partnerships for Nasdaq’s Global Information Services. Note from Nasdaq: Here at Nasdaq, we often say, “information is the lifeblood of markets.” That’s especially true in today’s digital era, and it’s not hyperbole. Market data is far more than simply a collection of buy and sell orders communicated on stock-trading platforms. It’s the collection and curation of billions of individual data points that are the essential fuel for the entire market in…

ErisX Enters the Crypto World With New Spot and Futures Platform Standard

It looks like there is a growing market for regulated exchange trading of cryptocurrencies. ErisX, the U.S. futures exchange best known for offering listed interest rate swap futures, just announced plans to launch a derivatives exchange (DCM) and clearing organization (DCO) that will offer digital asset futures and spot contracts on one platform. The exchange plans to offer contracts on bitcoin, bitcoin cash, ethereum and litecoin. This is going a step beyond the CME and the Cboe, which began offering cryptocurrency futures in December 2017. Eris needs a DCO license to clear its crypto contracts; that application is pending with…

ESMA Keeping Tight Leash On EU Trading Venues Standard

Steven Maijoor, chair of the European Securities and Markets Authority (ESMA), said MiFID II rules launched in January are indeed living up to expectations of pushing more trading onto exchanges, but more work may be required. In remarks before the World Federation of Exchanges annual meeting in Athens, Maijoor said less trading volume is flowing to dark pools and onto exchanges and so-called systematic internalisers (SIs), used by banks and algorithmic trading firms to fill customer orders. The use of ongoing periodic auctions for contracts, however, is coming under greater scrutiny, Maijoor said. These millisecond auctions may not being adhering…

Build or Buy? Exchanges Continue to Branch Out For Revenues Through Acquisition Standard

Exchanges are continuing to look at two areas for revenue growth – consolidation and acquisition of non-exchange service firms, according to a new report from Burton Taylor. The report, presented at the World Federation of Exchange’s General Assembly and Annual Meeting in Athens and authored by Andy Nybo, shows that ICE topped exchanges in revenue in 2017 with $4.6 billion, followed by CME with $3.6 million, Deutsche Boerse with $2.7 billion, LSE Group with $2.5 billion and Nasdaq with $2.4 billion. Global revenues from the 15 top exchanges totaled $30.7 billion last year, up 8.1 percent from 2016. The sector…

NFX Basis Point Value Contracts; One quarter hubris, three quarters details Standard

The hubris is mine, not Nasdaq’s. Over 20 years ago I came up with the idea for an innovative new futures contract that would improve hedging and engage speculators in new ways in fixed income trading. The idea was basis point value futures. Today, Nasdaq announced just that: a new U.S. Treasury futures product that builds on their cash Treasury market and allows customers to use “the dollar value of one basis point” to more accurately hedge a portfolio of cash Treasurys. The proper name of the contracts is: U.S. DV01 TREASURY FUTURES. I have shared this idea with many…

More Exchange News for Today Standard

CME to add options for Black Sea grain futures Reuters Staff CME Group is to introduce options contracts for its Black Sea wheat and corn futures as it seeks to further develop the derivatives targeting a major export zone. https://goo.gl/177vT9 Nasdaq Commodities to Launch European Spot Market Nasdaq, Inc. STOCKHOLM, Sweden, June 26, 2018 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq:NDAQ) Commodities today announced a plan to offer Day Ahead Auction Markets for Electricity in Germany, France and the Nordics alongside the existing Power Futures contracts. The implementation of Capacity Allocation & Congestion Management (CACM) aims at promoting effective competition in the…

Finding Opportunity: Peter Lenardos, CFO, Cinnober Says Growth and Profitability Are Coming Standard

Cinnober has built its reputation in the industry as a pioneer and an opportunistic company that looks for new ways to address market needs. So in many ways it was not surprising the firm hired Peter Lenardos as its new CFO two weeks ago. With his background in investment research at Royal Bank of Canada and elsewhere, he has watched the industry from a specific lens that focuses on the financial condition of a company, as well as its strategic positioning.  When he got the call from Cinnober’s CEO Veronica Augustsson, he was ready to bring a different approach to…

Sincere Flattery and Competition Standard

“Imitation is the sincerest form of flattery,” wrote English cleric and writer Charles Caleb Colton. The NYSE and Nasdaq have flattered each other plenty over the years as they competed globally in the exchange and OTC market space. It often seemed there was not a move NYSE made that Nasdaq did not try to match or top, and vice versa. The imitation here is not that NYSE matched Nasdaq by naming a woman, Stacey Cunningham, as head of the exchange to counter Nasdaq’s Adena Friedman. Rather, both exchanges chose the best qualified candidates for the role of president or CEO….

Crypto Markets News from John Lothian News – May 17, 2018 Standard

crypto markets update 2

SEC Tries to Scam ICO Investors to Show Them How Easy It Is Matt Robinson – Bloomberg Agency sets up a fake ICO to warn investors about the risks; Regulator has repeatedly warned investors of fraud in ICOs A hot new initial coin offering gives investors the chance of a lifetime to make money from sun-soaked beaches and crystal-clear waters. It also provides something even more valuable: advice on how to avoid getting ripped off by fraudulent ICOs. /jlne.ws/2InVoCL Devvio Blockchain First to Surpass Millions of Transactions per Second The Merkle Devvio, a pioneer in blockchain protocols (https://devv.io), today announced…