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Tag Archives: clearing

BoE warns £41tn of derivatives at risk after Brexit; European banks worry about clearing John Lothian Newsletter,Newsletter

First Read Women In Listed Derivatives Tackle Sexual Harassment at Work Sarah Rudolph – John Lothian News Women In Listed Derivatives, aka WILD, held a workshop on “Sexual Harassment at Work in the #MeToo Era” on Thursday at Chicago’s Union League Club. The good news is that it was well attended and very participatory; the audience listened avidly to Jennifer Gilbert, an attorney with the employment discrimination firm Stowell & Friedman, and asked a great many questions and follow up questions. The bad news is that even though the raucous, anything goes atmosphere of the old trading floors is all…

What does your clearinghouse DEFCON scale look like today? Commentary,Feature

Talk about timing. Ten years after the collapse of the global financial market and a decade of rebuilding it, Nasdaq reports that Nasdaq Clearing had to cover for a clearing member default of €114 million on Nasdaq Nordic,  a default so large it took up 68 percent of the default funds from other clearing member firms. According to reports from the Financial Times and Bloomberg, a trader by the name of Einar Aas (one letter off from a joke here), defaulted on Nasdaq’s power market on September 11, forcing Nasdaq Clearing to tap into clearing member default funds. Aas reportedly was…

Cinnober’s new CEO will have to consider the next move Blog,Commentary,Feature

The news that Veronica Augustsson was out as CEO of Cinnober Financial Technologies and newcomer Peter Lenardos was in was a shock. Augustsson, who had been CEO the past six years and with the firm since 2002, grew up with the company and reached a pinnacle few women ever reach. She did so with warmth and a friendly smile, but she also had a vision to diversify the company into a variety of sectors beyond its core business of real-time clearing, risk and surveillance systems for exchanges. After all, there is a limited number of exchanges with clearing houses –…

Building a Compliant Crypto Consortium Mwiki,Video,video

Everyone who has a stake in cryptocurrency right now has one thing on the mind: regulation. The SEC and CFTC are scrambling to find a way to define and regulate cryptocurrencies. Whether you’re cheering them on, booing, or tapping your foot impatiently, the next zeitgeist for the global crypto markets will depend on how regulators resolve the current challenges surrounding digital asset trading. Enter OpenFinance Network (OFN): a digital asset trading platform for the next stage in the crypto market’s evolution. CEO Juan Hernandez sat down with John Lothian News to discuss how OFN is striving to fill the gaps…

Euro-denominated Clearing Outside London Feature,Mwiki,Video,video

In preparation for Brexit, Eurex is offering an alternative to euro-denominated clearing in London. In this video, Eurex Chief Strategy Officer Matthias Graulich talks about the exchange’s Brexit preparations and the new clearing endeavor.    Produced by Mike Forrester

Two big UK banks shift some euro clearing from London to Frankfurt John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Jim Kharouf has written a terrific piece for FIA’s MarketVoice titled “The Sun Finally Shines on Carbon Markets.”~JJL NFA has brought a complaint against Lee Stern‘s LBS Limited Partnership, an introducing broker, regarding deficiencies in their anti-money-laundering program.~JJL Women in Derivatives are holding an event in Washington, DC today from 5 to 8 PM, “Transforming Finance: The Impact of Emerging Technologies.” The keynote address is by CFTC Chairman Christopher Giancarlo.~JJL Register for the LME’s free forum in New York on 25 June and join panellists from Triland Metals Limited, Ferrometrics Partners LLC, Hartree…

SIX Turns 10: SIX’s Urs Rüegsegger Says the Vertical Model and Interoperability Works Feature,MWEd,Video,video

Ten years ago, SIX Group was formed in a merger between SWX Group, Telekurs Group and SIS Group, creating a new vertical business model. Urs Rüegsegger, chairman of SIX Swiss Exchange, helped lead that transition and growth as CEO of the exchange for nine years before stepping down last December. JLN’s Jim Kharouf sat down with Rüegsegger at the WFE’s IOMA Conference in Chicago to talk about how SIX and its clearing business has grown over the past decade. SIX Group’s exchange, clearinghouse and other business lines, including credit card transaction processing, have grown steadily over the past decade. Its…

Cybersecurity and Technology Upgrades – John Davidson, OCC Feature,Mwiki,Video,video

The OCC is in the process of making what is a big decision for a systemically important financial market utility (SIFMU) – how to best upgrade a tech stack responsible for clearing millions of options and futures contracts daily. In this video from JLN’s annual series with industry leaders, OCC President and Chief Operating Officer John Davidson talks about how the OCC is weighing its cloud vendor options, addressing cybersecurity concerns and the regulatory initiatives on the road ahead.   Produced by Mike Forrester Interview by Spencer Doar