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JLN Options: Options Traders Side With Comcast on NBCUniversal Deal Newsletter,Options

CFTC Proposal Poses “Monumental” Challenge to FCMsBy John Lothian Changes to the way customer funds are held and accounted for by futures commission merchants (FCMs) were inevitable after the bankruptcies of MF Global and Peregrine Financial Group. But it is pressure from buy-side market participants and their allies in Congress who are pushing for regulatory changes that could change the face of the futures business. At last week’s CFTC Roundtable, the fourth panel of the day titled “Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organization,” highlighted the challenges and potential consequences to…

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: Veronica Augustsson new CEO of Cinnober; Exchanges Cancel Trades That Sent Kraft Up 29%; Bank-Friendly U.S. Regulator Shifts Focus to Revamp Reputation John Lothian Newsletter,Newsletter

Software company Cinnober promotes Veronica Augustsson to CEO.  In what is becoming a fairly common occurrence, trades in a stock spiraled out of control for reasons not immediately known; and after reviewing the market behavior, exchanges canceled abnormal orders and trades.  The US Comptroller of the Currency, long viewed as a rubber-stamp overseer of the banking industry, is shifting direction under new leadership to begin taking a more careful hand in regulation.  In First Read today, follow the link to the fourth part of the John Lothian Profiles video interview series featuring Tom Cashman of the CBOT, who in today’s…

John Lothian Newsletter: CME Group to launch renminbi futures; RBC Completes World’s First SEC-Registered Covered-Bond Deal; Australia’s Fin Sector Faces Tough New Crisis Rules John Lothian Newsletter,Newsletter

CME Group steps up to go head to head with HKEx as it announces new offshore renminbi futures products.  Canada’s RBC sells a world-first box of publicly traded, USD-denominated covered bonds.  Australia’s APRA regulator may be given additional power to install new management at banks and other financial institutions when it believes that failure may be imminent.  And in today’s First Read, John Lothian finally announces his retirement… of a sort.

John Lothian Newsletter: Man Group Debt Downgraded by Moody’s After Assets Decline; CME to begin clearing silver forwards; SEC Pays $50,000 in First Dodd-Frank Whistleblower Reward; GFI may buy an exchange John Lothian Newsletter,Newsletter

Man Group Plc’s (EMG) credit rating was cut by Moody’s Investors Service.  CME Group has new plans to begin clearing silver contracts, adding that alongside its gold-clearing operation. The SEC rings the bell and hands out its first Dodd-Frank whistleblower payout.  GFI Group, looking at new regulations requiring many transactions to take place on an exchange or trading platform, says that maybe the best answer is to just go buy an exchange in order to keep business going in the right direction.