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Tag Archives: London Stock Exchange

John Lothian Newsletter: Exchanges Seek to Make Repairs; Peregrine Trustee Seeks March Extension; Hedge fund industry loses out again John Lothian Newsletter,Newsletter

With some noting that 2012 was “The Year of the Technical Fault”, many exchanges are reviewing ways to increase reliability in the coming year (note that the LSE managed to start 2013 not with progress, but with another technical fault). The bankruptcy trustee for Peregrine Financial wants permission to run the ex-brokerage into at least March of 2013 as it continues to work to wind down operations. The hedge fund industry, while not posting as much red ink in 2012, nevertheless showed lackluster returns in the past year, with many headliners posting substantial losses.

John Lothian Newsletter: NYSE exec says exchanges moving closer to “kill switch”; LSE Said to Cut LCH.Clearnet Bid by 30pct; Knight Takes Higher Price in Getco Sacrificing Virtu Cash John Lothian Newsletter,Newsletter

A NYSE official says that regulators and exchanges are nearing agreement on how to implement a shutdown mechanism for runaway trading software. Following a requirement for LCH.Clearnet to significantly increase its capital, London Stock Exchange has reduced its acquisition bid. Broker Knight Capital evaluates suitors and selects Getco’s bid for acquisition. In First Read today, take a look at our new video interview with Allan Schoenberg of CME Group, as he explains how CME Group increasingly utilizes social media as a content distribution platform to discuss market issues with customers, partners and other stakeholders.

John Lothian Newsletter: UK clears LSE bid for LCH.Clearnet; China may open crude futures to foreign investors; Nasdaq’s NLX hires compliance director John Lothian Newsletter,Newsletter

UK antitrust regulators give a green light to the London Stock Exchange’s bid to take a controlling interest in clearing house LCH.Clearnet. China is nearing approval for a Shanghai-based crude oil futures contract that could be accessed by offshore traders without a local subsidiary. Nasdaq’s new European trading platform NLX hires a compliance director. In today’s First Read section, check out the launch of our weekly “New Kids on the Block” feature, where we profile startup and upstart ventures in the financial industry; this week’s installment features Atrium Trading.

John Lothian Newsletter: FSA backs LME’s £1.4bn sale to HKEx; LCH.Clearnet set for Asian expansion; Dodd-Frank Swap-Clearing Rule Gets CFTC Final Approval John Lothian Newsletter,Newsletter

Hong Kong Exchange gets approval from Britain’s financial regulator to proceed with its acquisition of the London Metal Exchange. Clearing house LCH.Clearnet looks to Asia as a way to diversify beyond Europe in the hunt for new business. The CFTC gives a final approval to a Dodd-Frank related swap clearing rule, starting waves of effect at banks and clearing houses. In today’s First Read, check out the new interview with Ryan Baccus of Sapient, who discusses Dodd-Frank compliance and the Clearing Connectivity Standard. Next, there’s a MarketsWiki Five Minutes interview with Alice Botis of Fidessa, who talks about liquidity…

John Lothian Newsletter: LSE gets French OK on LCH deal; CFTC handling of swaps rules a `train wreck,’ commissioner says; ICAP rebrands Plus exchange business John Lothian Newsletter,Newsletter

The London Stock Exchange receives a thumbs-up from French regulators on its plan to take control of clearinghouse LCH.Clearnet. CFTC commissioner Scott O’Malia reports being less than impressed with the way the agency set forth and then reeled back rules to govern energy derivatives. Global broker ICAP pulls the cover off of ISDX, its new rendition of the small-cap-focused Plus exchange that it purchased earlier in 2012. In First Read today, take a look at the new interview with Todd Fulton of Pioneer Futures, who talks about the managed futures space, and what investors want from an emerging manager.

John Lothian Newsletter: CME To Introduce Futures That Deliver Swaps; LSE makes play for collateral management market; Fed warns high-frequency trading firms John Lothian Newsletter,Newsletter

CME Group announces new deliverable interest-rate swap futures contracts.  The London Stock Exchange plans to begin offering collateral management services from its Monte Titoli settlement house in Italy. The Chicago Fed warns that the majority of algo traders and trading venues are relying on “others” to handle exceptions and errors in order flow.

John Lothian Newsletter: Exchanges hit again by trading error; Six Group on acquisition hunt; TSE’s Tender for Osaka Bourse Succeeds as Pledges Exceed Maximum John Lothian Newsletter,Newsletter

Nasdaq and other exchanges cancelled trades on Wednesday after bad orders caused prices to rise too far, too fast; perhaps adding a simple “CTRL+Z” to exchange trading platforms would be in order at this point.  Switzerland’s SIX Group has extra cash in its pocket and is looking at some kind of strategic acquisition.  The Tokyo-Osaka tieup continues forward, as the exchanges announce that TSE’s tender offer has succeeded.  In First Read today, John Lothian announces returning and renewing sponsors for MarketsWiki.

John Lothian Newsletter: Fall of Peregrine’s Wasendorf Presaged in Christmas Toast; Canada’s TMX in Talks to Buy Direct Edge; LSE and Singapore set to cross-trade John Lothian Newsletter,Newsletter

TMX Group, in the middle of being acquired, is looking to buy Direct Edge.  London Stock Exchange and Singapore Exchange create a preliminary agreement for cross-listing, possibly indicating closer ties between the exchanges. The CFTC may act on MFGlobal-prompted client-fund protection rules, now that PFGBest has lit another fire of need underneath that agency.

John Lothian Newsletter: LSE shakes up senior management; ED&F Man picks over bones of MF Global; Confusion reigns over clearing paper trail John Lothian Newsletter,Newsletter

London Stock Exchange Group announces a handful of senior management changes.  ED&F Man looks over the wreckage of its onetime parent company, and adds several dozen employees to its roster for upcoming projects. As the buyside looks at requirements to clear transactions in the future, sellside firms who are supposed to administer those transactions complain to regulators that their requirements and procedures are riskily unclear.