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Women Rising To The Top: Chitra Ramkrishna, Adena Friedman Take Top Roles In The Exchange Space Commentary,Exchanges, OTC & Clearing,Feature

There was another historic election this month, this one at the World Federation of Exchanges’ annual meeting in Cartagena, Colombia. The WFE elected the first female chair in its 56-year history. Chitra Ramkrishna, managing director and CEO of the National Stock Exchange of India, will serve as WFE chairperson for the next two years. She succeeds Juan Pablo Cordoba, CEO of the Bolsa de Valores de Colombia. She is also the first woman to head up an exchange in India, beginning in 2013, and has been a pioneer in helping develop India’s capital markets. Neither is a small feat. Ramkrishna…

John Lothian Newsletter: Wall Street Banks Have Basel’s Ear in Pushback on Market Risk; Nasdaq readies ‘Ocean’ dark pool for banks and brokerages; Global regulators move closer to regulating fintech John Lothian Newsletter,Newsletter

First Read One Step Ahead: Can Silicon Valley Help, Compliance? By Jim Kharouf, JLN If you are chief compliance officer at a firm – brokerage or fund – what if you could tell if the customer or one of your traders was about to do something bad, wrong or illegal? The operative words are “about to.” Chicago-based start-up Neurensic says its can do this now using artificial intelligence technology to identify behaviors that could threaten a firm’s well-being and prevent that firm, bank or broker from incurring regulatory actions that trigger hefty fines. Last fiscal year, the Commodity Futures Trading…

John Lothian Newsletter: Oslo Børs buys Sweden’s Burgundy; Tradeweb launches 5,000-stock ETF platform; NYSE Euronext And Taiwan Futures Exchange Sign Memorandum Of Understanding John Lothian Newsletter,Newsletter

Oslo’s exchange signs up to purchase the Burgundy from its Swedish owners as a way to consolidate influence in Scandinavian trading.  Tradeweb launches an ETF trading platform, allowing access to thousands of ETF products. NYSE Euronext and the Taiwan Futures Exchange sign a memorandum of understanding to share connectivity and access via NYSE’s order routing system.

John Lothian Newsletter: CME, ICE Clearinghouses Designated Systemic by U.S. Panel; Oslo Bors to charge for excessive orders; Euro Zone Crisis Boils as Leaders Fail to Signal New Steps John Lothian Newsletter,Newsletter

The clearinghouse operations for CME Group and IntercontinentalExchange are now said to be “systemically important” by regulators, bringing them closer to increased Dodd-Frank supervision.  Oslo Bors takes action against quote stuffers, and announces penalties for placing too many orders without enough accompanying dealmaking. Eurozone leaders fail to conclusively identify a useful salvation plan in recent meetings, rekindling fears of a messy and painful resolution to the region’s financial woes.