Deutsche Börse announces changes to its senior management team. Exchange operator BATS looks to the debt market for financing, its first attempt to raise money since its failed self-IPO this past March. Miami Options Exchange forges ahead with plans to open its doors in early December, despite a lack of regulatory approval for that action. If you missed yesterday’s release of the second part of JLN’s Restoring Customer Confidence series, you’re in luck. Watch the interview with Eurex’s Byron Baldwin and learn how Eurex handles customer account segregation.
Tag Archives: Eurex
Moving excess customer funds to a clearing house is one way to reduce the amount of capital at risk. Byron Baldwin, SVP, Buyside Relations at Eurex, says his exchange developed segregated account services that can be as wide or granular as needed. Also see — Customer Segregation: Keep It Separate Customer Segregation Resources Segregated funds (link) CFTC Final Rule: Investment of Customer Funds by Futures Commission Merchants and Derivatives Clearing Organizations, Regulation 1.25 (link) A Layman’s Guide to Regulation 1.25 (link) CFTC Final Rule: Customer Clearing Documentation, Timing of Acceptance for Clearing, and Clearing Member Risk Management (link) Derivatives Clearing…
Byron Baldwin of Eurex Discusses OTC Clearing, Portfolio Margining and Individual Segregation Interview,Regulation,Video
Byron Baldwin is senior vice president of buyside relations for Eurex. He moved to New York from Eurex’s London office to in February 2011 in order to promote the firm’s listed products, connectivity for high frequency trading firms, and to promote Eurex’s move into OTC clearing. Baldwin spoke with John Lothian News Editor-at-Large Doug Ashburn about regulatory changes across jurisdictions, mandatory clearing of OTC derivatives, margin and collateral efficiency and Eurex’s individual segregation model.
John Lothian Newsletter: Oslo Børs buys Sweden’s Burgundy; Tradeweb launches 5,000-stock ETF platform; NYSE Euronext And Taiwan Futures Exchange Sign Memorandum Of Understanding John Lothian Newsletter,Newsletter
Oslo’s exchange signs up to purchase the Burgundy from its Swedish owners as a way to consolidate influence in Scandinavian trading. Tradeweb launches an ETF trading platform, allowing access to thousands of ETF products. NYSE Euronext and the Taiwan Futures Exchange sign a memorandum of understanding to share connectivity and access via NYSE’s order routing system.
John Lothian Newsletter: SEC Looks for the ‘Kill Switches’; CME Announces Launch of Chinese Steel Rebar Swap Futures; Exchanges See No Unfairness in Data Delivery Speeds John Lothian Newsletter,Newsletter
The SEC launches a broad investigation and overhaul of order placement systems and controls, seeking new ways to control and mitigate damage from high-speed orders. Sort of “Finding Nemo: The Financial Episode”, perhaps. CME Group announces the planned launch date for the exchange’s new Chinese steel rebar swap futures contract. Exchanges have carefully considered the various speeds and methods available for market participants, and have concluded that it’s really ok to charge more for better access. In today’s First Read section, be sure to check out the JLN Metals box and the interview there with Michael Turek, senior director of…
John Lothian Newsletter: Asia hits out at US swaps reform plans; Hedge-Fund Marketing Could Begin New Era as SEC Set for Proposal; Monti Tries to Nudge Germany to Back E.C.B. John Lothian Newsletter,Newsletter
Regulators in Asia don’t appreciate the US’s effort to extend its financial rules beyond the country’s borders, continuing to tangle the international regulatory ball of yarn. Hedge funds gear up to begin public marketing given new rules from the SEC that allow the practice. Mario Monti of Italy elbows his compatriot heads of Eurozone state in an effort to convince them to let the ECB take on more government debt. Today’s First Read section features commentary in the JLN Forex box from roving JLN editor Doug Ashburn, who resigns himself to the prospect of an upcoming session of Kick the…
Jae-Joon Lim is director, business development at Korea Exchange, home of the most traded contract in the world, the Kospi futures and options. At the 2012 Emerging Manager Forum in London, Lim discussed the Kospi, as well as OTC clearing of Korean yun denominated interest rate swaps, due to launch this fall. Interview by John Lothian News editor-in-chief Jim Kharouf.
John Lothian Newsletter: Financial News: Jones To Leave In NYSE Euronext Revamp -Sources; Stock Exchanges Aim New Flash-Crash Fixes For February Launch John Lothian Newsletter,Newsletter
It was announced that Garry Jones, global head of derivatives at NYSE Euronext will step down following a management restructure at the U.S.-headquartered exchange. Meantime, U.S. stock-exchange operators said they plan to roll out a new system in February designed to shield investors from massive price swings.
Guest Commentary By Jim Ginsburg: Last week in this newsletter, Messrs. Lothian and Kharouf argued the merits of CME Group’s sale of its iconic real estate holdings at the foot of LaSalle Street. At issue was whether CME should deploy its capital on real estate. Mr. Lothian says “buy real estate, not sell it.” Mr. Kharouf retorts: “CME isn’t a real estate company.” However, if one paid close attention to CME’s earnings presentation two weeks ago, they would have discovered that CME is a real estate company and it owns some “trophy” properties other than 141 West Jackson. A decade…