U.S. legislators have introduced a bill granting, among other things, power to the executive branch of government to micromanage details of the SEC’s activity. Hong Kong Exchange says “pish” to the notion that a downturn in commodity prices overall will cause trouble for its new acquisition, the London Metal Exchange. The UK’s FSA reaches out to Nasdaq for new software to help monitor and regulate high-frequency trading.
Tag Archives: nasdaq
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.
The interest rate market will get some more competition at the end of the year with the launch of the NASDAQ OMX NLX futures exchange. JLN editor-in-chief Jim Kharouf spoke with exchange CEO Charlotte Crosswell, at IDX 2012 in London, about the new exchange’s move into euro and sterling-based short-term interest rate and long-term interest rate contracts, the trading and clearing platform and who will be participating in the new market.
NOTE: The following commentary by Neal L. Wolkoff was originally published on his blog. When a publicly listed for-profit exchange handles the initial public offering or IPO of a legendary company, should it be held responsible for investors’ losses if the offering goes badly because of trading glitches caused by the exchange’s technology? Intuitively, the answer appears to be yes, because companies of all stripes have had to compensate victims who suffered losses caused by the corporation’s negligence. However, since 1934 the securities markets have operated in large part as surrogates for the federal regulator, the Securities and Exchange Commission,…
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.
John Lothian Newsletter: New Australia Stock Exchange Targets Asian Firms, Investors; U.S. Regulator Concedes Oversight Lapse in JPMorgan Loss; NYSE, Knight Criticize Nasdaq Compensation Plan Over Facebook John Lothian Newsletter,Newsletter
Australia’s soon-to-launch Asia Pacific Exchange hopes to build its business by bringing in Asian listings, rather than competing head-to-head from the start with the ASX. The US Comptroller of the Currency says that missing JPMorgan’s wide-open risk throttle was, in hindsight, on the lax side of the regulatory fence. NYSE, Knight and others react to Nasdaq’s Facebook-failure compensation offer with loud raspberries, saying it’s a thinly-disguised bid to create a pricing advantage.
John Lothian Newsletter: Derivatives exchanges push back on reform; Nasdaq to Seek SEC Approval for Facebook-Related Compensation to Brokers; E.U. Proposes Centralized Banking Regulator John Lothian Newsletter,Newsletter
Members of the derivatives industry in the U.S. are digging in against new regulations over exchange volume requirements, saying the new rules would force the closure of low-volume contracts, and ruin new product innovations and offerings. Nasdaq, after its less-than-impressive hosting of Facebook’s stock debut, has requested permission to begin apologizing financially to brokers who claim harm from the process. Eurozone officials, in a “we must all hang together” moment, are proposing to give up fully sovereign control of their banking systems in favor of a community model. In the First Read section, you’ll find more analysis of MF Global’s…
Alice Botis‘ experience spans from being the first female NASDAQ market maker to heading up Latin American business development for Fidessa. She sat down with John Lothian News editor Jessica Titlebaum to discuss the high frequency trading environment in Latin America, how the MILA initiative (otherwise known as the Integrated Latin American Market) is impacting growth in the region and how the industry has changed for women in this global marketplace.