Soft commodity traders of ICE Futures U.S. contracts are said to have discussed the possibility of shifting their trades to rival exchange CME Group, if the CME were to offer similar products. In Europe, central banker Ewald Nowotny says it’s time to outlaw high-frequency trading; no word on whether less-frequent trading algorithms would be allowed, or how one is supposed to establish a threshold for discerning between the two. In London, LSE’s goal of taking a controlling stake in clearinghouse LCH.Clearnet takes one step forward as antitrust regulators in Spain give a thumbs-up.
Tag Archives: LSE
John Lothian Newsletter: Libor Director Swaps BBA For Thomson Reuters; Singapore Bourse Says Not In Merger Talks With LSE John Lothian Newsletter,Newsletter
Libor Director Swaps BBA For Thomson Reuters; Singapore Bourse Says Not In Merger Talks With LSEThe director responsible for the management of the setting of Libor at the British Bankers’ Association has left his post, just as a group of banks being investigated in an interest-rate rigging scandal are looking to pursue a group settlement with regulators. Lots of talk about SGX and LSE planning a merger, although it seems that is being refuted.
John Lothian Newsletter: LSE boosted by Italian clearing house; BRICS Bourses Start Futures Venture Aimed at Wealthy Individuals; Europe Agrees to $1 Trillion Bailout Fund for Euro John Lothian Newsletter,Newsletter
LSE showed overall improved performance by combining flat share-trade revenue with more charged-up clearing returns. Futures exchanges from BRIC nations join up to create new futures contracts so some of their incoming wealth can better circulate. The EU agrees to create a permanent $1 trillion bailout/firewall fund. In the top box, John Lothian remembers a good friend, and takes note of the generosity of many people in and out of the financial industry.
John Lothian Newsletter: Nasdaq OMX delays Euro clearing plan; TSE set to exit Aim joint venture with LSE; MF Global clients see recovery prospects improving John Lothian Newsletter,Newsletter
Facing regulatory uncertainty, Nasdaq OMX slows down plans to offer clearing choices to clients. The Tokyo Stock Exchange pulls away from Aim, its joint venture with LSE, having decided that one listing wasn’t really enough to be considered worthwhile. MF Global clients stuck in a holding pattern with regard to their frozen accounts, are growing optimistic that they may after all get most of their money back. BATS is still in the news, both for speculation about its future, and just as notably for opening properly and normally for business yesterday. Ex-MF Global executives are providing advance copy of their…
John Lothian Newsletter: LSE in talks with Singapore and Australia; MF Global trustee to return $685 million more to customers; CFTC Targets Rapid Trades John Lothian Newsletter,Newsletter
The LSE is talking to exchanges in Singapore and Australia about stock cross-trading alliances. MF Global’s trustee asks to return another chunk of cash to its ex-customers. The CFTC says that they want to figure out how to watch high-frequency order flow as part of their market monitoring efforts. In the top box, more futures industry analysis from Boca Raton; and JLN Interest Rates shows the way to a vastly improved blog and news site – take a look!
John Lothian Newsletter: SEC Probes Operators’ Use of Multiple Markets; ‘Gray Market’ Crops Up for New Issue of Greek Bonds; Hong Kong to bolster its clearing house John Lothian Newsletter,Newsletter
The SEC is looking into the possibility that some exchanges favor their biggest customers at the expense of smaller traders. A couple of banks are already trying to make a market for Greece’s new bonds, even though they don’t exist yet. HKEx unveils plans to beef up their clearing house to meet post-2008 regulations and demand. The MF Global story continues, with continued protests over executive bonus plans; and recommendations from the NFA on how to better manage customer funds in the future. In Europe, now that Greece is no longer scalding hot, the financial transaction tax receives more attention.
John Lothian Newsletter: MF Global Still Set to Pay Bonuses; CBOE Executive Placed On Leave During SEC Investigation; LSE buys majority stake in LCH.Clearnet John Lothian Newsletter,Newsletter
MF Global’s bankruptcy plan includes significant bonuses for three senior execs of the firm. At the CBOE, a compliance executive has been placed on administrative leave as the SEC investigates company oversight. The London Stock Exchange steps up to buy a majority stake in LCH.Clearnet. In Europe, Greece successfully winds up its debt cycle with murmurs of impending doom rather than cheers.
John Lothian Newsletter: CFTC proposes rule for block trades in swaps market; CME Group Aims To Strengthen Ties To Asian Exchanges; LSE draws fire over Borsa synergies John Lothian Newsletter,Newsletter
The CFTC sets forth, on a 3-2 vote, a rule proposal for regulating big swap trades. CME Group indicates its continuing interest in Asia, suggesting that it would like closer connections to exchanges in China and Japan. The Italian securities regulator cries foul over the five year old Milan-LSE tie-up, claiming that extra order flow hasn’t materialized in Italy as promised. In the top box today, Editor-In-Chief Jim Kharouf celebrates the one-million mark for MarketsReformWiki.
John Lothian Newsletter: CFTC Requires Registration by Mutual Funds With Commodities; NYSE Euronext Chief Faces Up To Standalone Challenges; Eurozone dismisses Greek budget deal John Lothian Newsletter,Newsletter
The CFTC votes 4-1 to require commodity-including mutual funds to register with the agency. NYSE-E’s Duncan Niederauer faces a DB-less future, and surveys the coming challenges. In the latest episode of, “There Will Be Greece,” the Eurozone turns its back to the Mediterranean country’s latest budget cut package, calling it incomplete. In the top box, JLN Editor-in-Chief Jim Kharouf takes a swing at JLN Boss-of-All John Lothian’s opinion of CME Group’s CBOT Building deal; and John bids adieu to Jeremy Grant of the Financial Times (who is only moving to Singapore, not offworld).