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Tag Archives: London Metal Exchange

JLN Exchange Leader Series 2017: LME’s Chamberlain on Ambitious Deployment Schedule Feature,Video,video

The London Metal Exchange is in flux after the departure of CEO Garry Jones at the beginning of the year. That leaves interim CEO Matt Chamberlain with structural problems to address and a “hugely ambitious” deployment plan for 2017. In this JLN Exchange Leader Video, Chamberlain outlines these plans and the existential issues facing the exchange. The highlight for LME in 2016 was LME’s steel scrap and rebar contracts. Introduced in late 2015, the contracts picked up traction in 2016.  LME wanted to avoid shoehorning new products into their preexisting contract format. The steel contracts were a departure from the…

Data centres help London retain cachet; CME Group Interest Rate Contracts Shatter Records On Feb. 22; Reinstitute Choice and Civility – ‘Tis Time for Retail FX in the U.S. to Have a Regulator, Not an Executioner John Lothian Newsletter,Newsletter

First Read Cinnober Going Big On Clearing JLN The Cinnober recap of its annual meeting revealed just how serious the company is about developing and investing in a new back office, real time clearing business. This space is ripe for change and competition, and Cinnober reported that it aims to raise about $20 million via a stock sale for the new entity. Over the next two years, Cinnober will launch a new realtime back office clearing system which will be spun off from the company. It’s a bold move from Cinnober’s CEO Veronica Augustsson and another indication that the back…

Deutsche Bank walks away from US swaps clearing; Soc Gen sees fixed income trading boom; Crunch time for increasingly brittle London Metal Exchange John Lothian Newsletter,Newsletter

First Read Trump Preparing to Nominate Commodity Futures Trading Commission’s Giancarlo as Chair; The former brokerage executive is currently serving as acting chairman Andrew Ackerman – WSJ The Trump administration is preparing to nominate J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, according to people familiar with the matter, elevating the former brokerage executive to the full-time head of the top U.S. derivatives regulator. /goo.gl/XFy2Wg ***** This would be a terrific outcome. Acting Chairman Giancarlo is widely respected and very knowledgeable. All we need now is some other commissioners. ++++ Nasdaq’s Black Belt CEO on IPOs, Unicorns,…

Banks get slapped with $220M in fines over economic crisis; London’s trading businesses await Brexit fallout in 2017; LME Clear and LME announce the appointment of James Proudlock as Deputy Chief Executive for LME Clear John Lothian Newsletter,Newsletter

First Read Head East: TT’s Robbie McDonnell Sees Opportunity In Asia As Never Before By Jim Kharouf, JLN It’s gonna be a good year after all for Asia’s markets. Robbie McDonnell, Trading Technologies’ executive vice president of global sales, who returned to Asia full time in recent months, said the region got a nice volume bump in November but the real growth is soon to come for a region that is implementing new technology, new partnerships and more ways to increase trading flows East to West. Let’s start with the numbers, as 2016 was shaping up to be a down…

Yes, Precious: World Gold Council, LME and Banks to Launch New Gold, Silver Contracts Commentary

Doug Ashburn

Sometimes the best ideas are worth waiting 139 years for. On August 9, 2016, the World Gold Council and the London Metal Exchange, together with a consortium of banks, announced a planned launch of LMEprecious, a new platform for spot, daily and monthly futures, options and calendar spread contracts for gold and silver, with platinum and palladium planned for down the road. This will mark the second attempt at a gold futures contract at the 139-year-old LME. The previous one, London Gold Futures Market, launched in 1982 and never really caught on. It was shuttered three years later. In an early-morning interview…

John Lothian Newsletter: Bats Unveils Community Policing Program for U.S. Equities, Options Exchanges; London Metal Exchange faces broker revolt over fee rise; The World’s Most Powerful Stock Pickers Don’t Manage a Penny John Lothian Newsletter,Newsletter

First Read MarketsWiki Education Hits Interns With Risks, Technology, Volunteerism, Office Space and BricksSarah Rudolph and Spencer Doar, JLN Tuesday marked the first session of our MarketsWiki Education World of Opportunity series in Chicago. The event drew a standing room only crowd of 160 at the CME Group auditorium. The event kicked off with Rob D’Arco, CEO of Rival Systems, who hammered home the intrinsic advantage the interns have over current industry professionals, as every intern in the room is considered a digital native. Taking advantage of that intrinsic knowledge and then pairing it with a deep understanding of market…

2016 Exchange CEO Series: LME’s Garry Jones Looking At More Metals, More Clearing and More China Video

Last year represented the first full year in which London Metal Exchange  was under the Hong Kong Exchanges & Clearing umbrella. Now the exchange is looking forward to expanding through new products, users and via its relatively new clearing house, LME Clear. The LME battled some major commodity headwinds in 2015, with metals prices falling anywhere from 25- to 45 percent, and many firms pulling out of the market due to risk concerns, mine closures and various mining and banking staff reductions. LME’s volumes dipped 4.3 percent in 2015 to 169 million, down from 177 million a year earlier. “Against…

2016 Exchange CEO Series: Hong Kong’s Charles Li Looks To Keep Building Bridges To China Video

As Hong Kong Exchanges & Clearing looks at extending its services as a bridge to mainland China, HKEx CEO Charles Li said that it’s now embarking on a new three-year plan to bring China’s market to the rest of the world. Last year, HKEx posted record earnings in 2015 and has a current market cap of about US$28 billion, posted the first full fiscal year with the London Metal Exchange under its umbrella and launched the Hong Kong-Shanghai Stock Connect, which links the two equity and potentially, derivatives markets. The exchange ranked 17th among global derivatives markets, with annual volumes…

John Lothian Newsletter: SEC brings new charges over global press release hacking scheme; Hedge Fund Citadel Cuts Employees in Wake of Losses; Chinese bid for Chicago Stock Exchange stirs Republicans John Lothian Newsletter,Newsletter

First Read Big Data = Big Money By Jim Kharouf, JLN There is a lot of talk about data in the exchange space today, and given consolidation among exchanges has dwindled, the next frontier in competition is in data services. Exchanges have come under fire in recent years for sticking it to customers with data fees. CME Group is criticized by some in the industry who say they were pounding home fees on data vendors and brokers at a time when end-users could least afford it – but that is unfair. All of the top exchanges are focused on raising…