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Trillions in Stock and Derivative Trades at Risk Over New EU Rules; LME chief plots evolution not revolution at metal exchange; Regulators’ Penalties Against Wall Street Are Down Sharply in 2017 John Lothian Newsletter,Newsletter

First Read Hits & Takes By John J. Lothian Gary Flagler has a new job. He is now Head of International Business Development, Derivatives consulting for Bolsa Mexicana de Valores, S.A.B. de C.V. (BMV), also known as Grupo BMV, a 122-year-old company and one of Mexico’s premier financial institutions, headquartered in Mexico City, Mexico. He will be working with Mexder and Asigna, Compensación y Liquidación F/30430 Fiso Bancomer SA, MexDer‘s local scale rating AAA–rated clearinghouse. Gary will give them the presence in the U.S. they greatly needed. ~JJL The latest Financial Data for FCMs from the CFTC is available. ~JJL…

John Lothian Newsletter: NASDAQ OMX and Borsa Istanbul Sign Strategic Partnership; Tension rises on growing shift of power to Esma; China Bond Futures Get Green Light John Lothian Newsletter,Newsletter

Nasdaq OMX and Borsa Istanbul sign a partnership. The EU wants to toughen up its financial regulator, but the UK isn’t having any. In China, the State Council approves the reintroduction of government bond futures trading.

John Lothian Newsletter: Sommers Will Leave CFTC July 8 After Leading Review of MF Global; Europe steps up regulatory assault on CDS; Deutsche Börse launches cloud computing marketplace John Lothian Newsletter,Newsletter

CFTC commissioner Jill Sommers will head out the front door next week, vacating her position there. The EU turns up the heat on derivatives traders, and considers past sins as well as future requirements. Deutsche Börse announces plans to create a trading venue for cloud computing resources.

John Lothian Newsletter: CME Pulls Plan to Update Wash Trade Rule Amid CFTC Criticism; Banks charged with blocking CDS market; South Korea launches third stock market John Lothian Newsletter,Newsletter

CME Group updates its wash trade regulation, prompting a great deal of noise from the CFTC and a subsequent retraction of the change by the exchange. The EU charges large investment banks with colluding to block smaller players from setting up operations to trade credit-default swaps. South Korea’s third stock exchange opens its doors today.

John Lothian Newsletter: In Fight Over Bank Rules, Regulator Calls for Compromise; EU agrees breakthrough in market rules; FX Rates Said to Face Global Regulation in Libor Review John Lothian Newsletter,Newsletter

A CFTC commissioner wants the regulatory agency to reach out and compromise with overseas regulators on regulating foreign risk. In a probably unrelated turn of events, EU member states reached a milestone agreement on certain bank transactions and competition between clearing companies. As LIBOR’s fallout rolls onward and new allegations of currency rate manipulation surfaces, regulators around the world consider the idea that it might be good to regulate the way currency rates are set. In today’s First Read, take a look at another excellent MarketsWiki.tv interview: Julie Dixon, managing principal at Titan Regulation, discusses the origins of the Market…

John Lothian Newsletter: CBOE defers start of extended trading day after recent outages; EU rules risk driving London Metal Exchange to Hong Kong; LSE on target to win Italian bond platform EuroTLX John Lothian Newsletter,Newsletter

In the wake of two technical faults in two weeks, exchange CBOE decides to hold off a bit on its plans to extend its trading day. Customers at the London Metal Exchange make dark suggestions that if the EU insists on pursuing aggressive regulatory reform, the LME’s business might very well head to Hong Kong instead. The London Stock Exchange is on track with its future acquisition of the Italian retail bond platform EuroTLX.

JLN Environmental/Energy: EU Carbon Fix That Boosts Power Prices ‘Stupid,’ UBS Says; BP to Sell U.S. Wind Business in Retreat to Fossil Fuels; Running out of gas? Thailand struggles to avert energy crunch Environmental/Energy,Newsletter

In this edition, natural gas coverage in Poll Finds Broad Support for Keystone Pipeline from The Wall Street Journal. The Christian Science Monitor has a piece from the other side of the debate: For Keystone XL foes, oozing Canadian crude in Arkansas spill is black gold. Also, 2 Major Air Pollutants Increase in China.

JLN Environmental/Energy: EPA may delay proposed greenhouse gas limits for power plants; Obama pushes research fund, seeks common ground on energy policy; UAE opens first big solar energy plant Environmental/Energy,Newsletter

In this edition, a Washinton focus in EPA may delay proposed greenhouse gas limits for power plants and covering Pres. Obama on the road, in Obama pushes research fund, seeks common ground on energy policy. Meanwhile, UAE opens first big solar energy plant.

JLN Environmental/Energy: Budget deal cuts EU energy spending, promises climate focus; Eurogas calls for EU ETS reform; Private Equity Purifies Pacific to Boost California Water Environmental/Energy,Newsletter

In this edition, a Reuters piece provides the broad strokes for the EU budget deal’s climate impact, here. A Reuters column, meanwhile, predicts President Obama will dial back his innaugural rhetoric at Tuesday’s State of the Union address. Meanwhile, Carbon Glut Fueled by Generous EU Cap, Climate Mundial Says.