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Tag Archives: MIFID

SEFCON Snapshot 2014, Part II: Cross-Border Issues Interview,Regulation,Video

The WMBA Americas hosted SEFCON V on November 12, 2014, and John Lothian News was there. We interviewed 14 SEF operators, regulators and participants and put together this three part series on the state of SEFs one year into the mandate. Part II looks at the differences between U.S. SEF rules and those of other jurisdictions. When G-20’s finance ministers met in Pittsburgh in 2009, a global consensus was reached on the principles for regulatory reform. As reform progressed, however, clear differences became apparent between philosophies emerged, specifically between the U.S. and the E.U. on the reach and scope of…

Clear Skies Ahead: Terry Duffy of CME Group Says Clearing Is Industry Driver Regulation,Video

With the bulk of US financial reforms now in place, financial markets appear to be pulling out of their doldrums. Terry Duffy, executive chairman and president of CME Group, spoke with Jim Kharouf, editor-in-chief of John Lothian News, about his outlook for the exchange and the strong prospects for growth in the futures markets. “The industry is really exciting right now,” Duffy said. “We’ve been going through some difficult years like all financial markets have. Now we’re getting some clarity around the rules especially here in the US and that’s very positive.” Duffy said CME Group stands to gain from…

Revved Up: CME Europe’s Knottenbelt Says Currencies Just The Beginning Interview,Regulation,Video

CME Europe launched in March with an eye on currencies. William Knottenbelt, head of European business operations for CME Group and the CEO of CME Europe, says that the exchange has a core group of seven clearing members with more on the way and its currency products are positioned well for the market. And that, he says, is just the beginning for the European exchange. “We’re starting now to see the volume beginning to come into the market,” Knottenbelt told JLN at the IDX conference in London. “As we get more and more clearing members and execution members coming on…

It’s Easier This Way: Justin Llewellyn-Jones of Fidessa Maps A Compliance Path for Firms Interview,Regulation,Tech / HFT,Video

Today, firms are dealing with three major issues: regulation, compliance and global economics. None of the three are friendly to brokers and trading firms, and that’s where Justin Llewellyn-Jones, chief operating officer of Fidessa, believes there is opportunity. Llewellyn-Jones spoke with JLN editor-in-chief Jim Kharouf last month at the IDX conference in London, about how Fidessa is developing new technology that will assist firms in making the trading, risk and account management, and compliance task easier. “We have that order management system and that global footprint around the global order management system as well,” he said. “But we are also…

Navigational Beacon: NASDAQ OMX Group’s Hans-Ole Jochumsen Steering through Challenges Interview,Regulation,Tech / HFT,Video

A recurring theme at this year’s IDX London was navigating the many challenges facing the financial sector. In this video, NASDAQ OMX Group’s Hans-Ole Jochumsen talks to John Lothian News about three such challenges – exchange competition, allocation of technology resources, and the global regulatory environment. In June 2014, NASDAQ OMX NLX, the company’s platform for euro- and sterling-denominated interest rate derivatives, celebrated its one-year anniversary. The platform launched into a crowded exchange space at a time of ultra-low interest rates, which has certainly been a challenge. Though its volume and open interest have been growing steadily, and market share…

Speed Reader: FIA Europe’s Simon Puleston Jones making his way through MiFID II Interview,Regulation,Video

EU regulation continues to wind its way through the system. That’s keeping Simon Puleston Jones a busy man. As chief executive of FIA Europe, he’s busy making his way through the EU’s 845-page consultation document that contains 860-plus questions, as part of a 10-week consultation process that ends on August 1. John Lothian News spoke with him about what’s in it and what it means for the industry. “That’s a hell of a lot of reading for the industry to do,” he said. “Part of the challenge for us is working out how we can get the feedback from the…

Exchange CEO Series – Asian Opportunity: CME Group’s Phupinder Gill says Asia is the place to be Interview,Regulation,Video

Exchanges have never faced more challenges and opportunities than they do today. John Lothian News sat down with six exchange CEOs at the 2014 FIA Boca Conference to talk about their views on four main topics: competition, regulation, growth and technology. Phupinder Gill, CEO of CME Group, said that regulation will continue to define the competition and industry framework for the foreseeable future and rising global demand for existing and new products, particularly from Asia will drive growth. “The competitive landscape, as it stands now, is going to be largely dictated by where the regulatory landscape takes us,” Gill said….

John Lothian Newsletter: Metals, Currency Rigging Is Worse Than Libor, Bafin Says; Mifid show moves to Paris after breakthrough agreement; ‘Don’t hollow out financial transactions tax’, says EU tax chief John Lothian Newsletter,Newsletter

First Read CME struggles with global expansion as traders fight change Lynne Marek – Crain’s Chicago Business CME Group Inc. is stuck between its past and future, dragged back by industry traditionalists as it struggles to expand a global electronic futures exchange. CME is the world’s largest futures exchange. Yet management efforts to evolve beyond its Chicago trading roots and appeal to new customers often trigger a backlash from longtime shareholders and traders whose livelihoods are threatened by changes at the 166-year-old institution. jlne.ws/LGwFrS ***** Don’t pay any attention to the noise of the lawsuit against the CME. The noise…

John Lothian Newsletter: NASDAQ, S&P eye acquisitions to build index businesses; Commodity exchanges miffed by Mifid; Fed to seek comments on restricting banks’ commodities trading John Lothian Newsletter,Newsletter

First Read Scott Irwin Answers Kocieniewski Streetwise Professor Scott Irwin has provided his responses to David Kocieniewski. Read the whole thing. jlne.ws/1hmiVgy ***** And the fight continues. ***JM: I just wish Kocieniewski could do better than “I know you are, but what am I?” ++++ ICE to Sell Parts of NYSE Technology – And Why Not? Becca Lipman – Wall Street & Technology If ICE can’t assimilate or find a structural reason to keep hold of the acquired technology, it should go. jlne.ws/1hmiT8f ***** Sometimes in commodities you have to blend in some of the good stuff with some of…