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Tag Archives: Eurex Clearing

Jeffrey Tessler: Deutsche Boerse Exchange Reorganization Is Done, Now Onto The London Stock Exchange Deal Commentary

Jeffrey Tessler is a busy man these days as the person overseeing a recently restructured unit at Deutsche Boerse called “Customers, Products & Core Markets.” The new division rolls together Eurex, Eurex Clearing and Clearstream, the collateral management and settlement business. “We had it separated, so by bringing it together and walking into a client, we can talk about what is most important to them,” said Tessler, at the FIA IDX conference in London. “Obviously, clearing is an important aspect of their business and also the collateral management and collateral efficiency, and collateral optimization. How do we bring it all…

John Lothian Newsletter: Nasdaq NLX holds fees ahead of LCH Spider; Eurex to launch buy-side clearing access model; Fintech’ Start-Up Boom Said to Threaten Bank Jobs John Lothian Newsletter,Newsletter

First Read Squeezing Pennies: Clearing Houses Reach For Compression, Margin Relief and Netting By Sarah Rudolph and Jim Kharouf, JLN When it comes to clearing and settlement today, the name of the game is capital efficiency. With a host of regulations hitting the market, particularly with bank capital requirements under Basel III, exchanges and clearing houses are moving quickly to find ways for banks and clearing FCMs to lower the amount of cash they need to hold onto in the name of lower systemic risk. It is an interesting time to be in the clearing space, as clearing firms offer…

John Lothian Newsletter: More Dark Pool Investigations Under Way, Says New York’s Top Cop; ISE Mercury to Launch on February 16, 2016; Barclays reshuffles US derivatives leadership John Lothian Newsletter,Newsletter

First Read Nonbank Runs – A Flight of the Fancy Doug Ashburn – JLN “Potter’s not selling; Potter’s buying. Why? Because we’re panicking and he’s not!” – George Bailey We all remember the scene in “It’s a Wonderful Life when James Stewart (as George Bailey) tries to stave off a run by nervous depositors at his Bailey Bros. Building and Loan while, across town, financier Mr. Potter looks to swoop in at fire sale prices. These days, according to a panel of economists at Monday’s CME Group-MSRI Prize in Innovative Quantitative Applications seminar, it may well be the Mr. Potters…

John Lothian Newsletter: Light-Speed Treasury Trading Governed by Rules Dating to 1998; SEC Seeking S&P’s Suspension From Rating Commercial Mortgage Bonds; IEX Chief Strategy Officer: Our ‘Magic Shoebox’ Doesn’t Make Us Anti-HFT John Lothian Newsletter,Newsletter

First Read Welcome to 1984: 30 Years of Innovation at SGX Doug Ashburn – JLN The Singapore Exchange is celebrating the 30th Anniversary of its forerunner, the Singapore International Monetary Exchange (SIMEX) with a video documentary entitled Founding Futures – The Making of a Global Exchange. If you have 18 minutes to spare, I encourage you to check it out. If not, at least click over and watch the two-minute trailer. Watch the Video The video strikes a chord with futures market veterans as we recall the many ways in which SGX/SIMEX was at the forefront of the events that…

Jürg Spillmann Reflects on Past, Future of Derivatives Interview,Video

Jürg Spillmann

Jürg Spillmann has led the technology revolution in the derivatives industry for 25 years. Now that he is stepping down from his post as deputy CEO at Eurex and into retirement, Spillmann says derivatives markets still have a solid future ahead. Spillmann says the market environment and the slew of new regulations have been difficult for the derivatives markets, but futures products will remain a key financial instrument. “I still believe that the futures and derivatives products that we provide are safe with the clearing house attached to it,” Spillmann said. “There’s a future for the products we offer.” Spillmann…

We Have Liftoff: Wolfgang Eholzer on the New Eurex Trading Platform Interview,Tech / HFT,Video

Wolfgang Eholzer

Wolfgang Eholzer, head of Eurex Trading IT, has seen his share of technology changes to exchange platforms. The latest, and biggest of his career, was the creation of a brand new trading platform for Eurex, called T7. In this video, Eholzer spoke with John Lothian News editor-in-chief Jim Kharouf about building the new system and the thought process that went into the project, which has been rolled out gradually beginning in December 2012 and is now complete. In Eholzer’s view, the goal for T7 was to deliver three major benefits: more capacity, lower latency and improved functionality. While most exchanges…

John Lothian Newsletter: ICE to study cutting soft commodities trading hours; SEC Approves Nasdaq’s USD 62 Million Facebook IPO Payment Plan; Eurex Clearing Supervisory Board appoints new members John Lothian Newsletter,Newsletter

IntercontinentalExchange considers creating shorter trading hours for its soft products, hoping to increase liquidity by packing trades tighter together. The SEC gives a thumbs-up to Nasdaq’s offer to pay sixty mil to parties injured by its Facebook IPO problems; other folks (such as bank UBS) find the plan less than satisfactory and continue to advocate a different solution. In Europe, Eurex Clearing announces a list of fresh faces appointed to serve on the executive board.

John Lothian Newsletter: LME Eliminates NYSE Euronext From Sale Bids; Deutsche Börse Group to reduce equities clearing fees; In about-face, Greece pays bond swap holdouts John Lothian Newsletter,Newsletter

The London Metal Exchange looks over the buyout bids it received, and tells NYSE Euronext, “Hey, thanks for playing. But no.” Eurex Clearing announces a fee cut of up to twenty percent for Xetra transactions. Greece decides not to stiff its bondholders in the middle of a contentious political reorganization, and makes its payout as required. In the top box, you’ll find JPMorgan commentary by Doug Ashburn from yesterday’s JLN FX Newsletter; and John connects the dots between winning, horrible trading losses, and food.