Breaking News

Tag Archives: SEF

A MIAX Equities Exchange and the CFTC Connection: A Few More Words on LedgerX Blog,Feature

In case you missed the big news Monday, the CFTC approved LedgerX as a derivatives clearing organization.  Miami International Holdings, or MIH (parent company of MIAX), a partner and investor in the crypto exchange, put out its press release regarding the approval Wednesday night. The key takeaway from the release is a pretty big “Whoa!” stemming from this one-off line regarding MIH’s licensing agreement with LedgerX: “MIH secured similar rights for securities to be listed on its MIAX Equities Exchange, once launched.” An equities exchange? There is not much information out there regarding this proposed endeavor. All the web yields…

CFTC grants registration to LedgerX to trade options on bitcoin; Options traders bet on U.S. steel stocks ahead of tariffs decision; Riding the Wave – Speed, Algos and Consolidation Newsletter,Options

Observations & Insight Crypto-innovations Jim Kharouf – JLN One look at today’s newsletter will tell you something – the traditional Wall Street system is ripe for disruption. The JLN piece on Overstock.com’s subsidiary Round One: How Overstock.com and tzero aim to knock out Wall Street shows how that firm is focused on using blockchain and its new Alternative Trading System ATS to do everything from trading securities via a blockchain, to finding an after hours trading niche. But tzero aims to create much more than that. While it’s still early days, it is not hard to imagine using the blockchain…

GreenKey CEO Focused on Using the Cloud for Next-Gen Voice Broking Data Feature,Fintech,Video,video

For years people have been predicting the demise of voice broking, but to a great extent what has happened is smaller voice broker desks are doing the same amount of work. This calls for more efficiency and a creative use of technology, according to Nader Shwayhat, the CEO of Green Key Technologies. Since the company began, GreenKey has focused on combining voice and data, and in 2017 they plan to start extracting data within voice conversations and integrating it into customers’ screens. For the most part, Shwayhat said, only about 10 percent of the information from voice conversations ever makes…

John Lothian Newsletter: Chi-X Global sells Asian units to JC Flowers; Michael Bloomberg exploring US presidential bid; Talk of Fed ‘policy error’ grows John Lothian Newsletter,Newsletter

First Read NextGen Market Training By Doug Ashburn and Jim Kharouf – JLN The long-standing tradition of bringing young students into the industry to learn all of the ins and outs of the business continued last Friday at Trading Technologies. TT hosted Campus Connect Algo Showcase, as students from four universities presented their trading ideas and algo trading systems to the audience. Students from the University of Illinois, Loyola University, DePaul University and Illinois Institute of Technology (See more on IIT becoming Illinois Tech below), showed everything from how they coded a trading program to how they used TT’s Algo…

Un Parti Québécois: ISDA 2015 Montreal Blog,Commentary,Regulation

The International Swaps and Derivatives Association descends on Montreal, Quebec this week for its annual meeting and conference. Ahead of the conference, I caught up with ISDA CEO and former CFTC Commissioner Scott O’Malia, who offered up a preview of the conference and a highlight of the issues the swaps world is grappling with. “The big issue is cross-border harmonization,” says O’ Malia. “I left the commission in the middle of the cross-border debate and came over to ISDA, and now it is all about implementation and coordination of the European and U.S. rules.” He looks at the objectives set…

John Lothian Newsletter: Euronext sees regulatory backing for spin-off in Feb; Bloomberg Leads SEF Market Share; Exporting U.S. Rules for Foreign Banks John Lothian Newsletter,Newsletter

First Read Financial Reform Remains a Work in Progress SIMON JOHNSON – NYTimes.com Of all the arguments put forward by big banks and their allies in recent years against financial reform, the line that surfaced last week was arguably the most strange. Wall Street has been reformed, according to this view: There was a great battle, and we (the big banks) lost. There is, consequently, nothing more to do. jlne.ws/1eUZhpr ***** Battles are won and lost, but the war continues; forever. ++++ AlphaMetrix: We did nothing wrong! Ginger Szala & Edited by Kristin Fox | AllAboutAlpha On Dec.24, 2013, AlphaMetrix…

Guest Commentary: Record Retention, Voice Recording and Disaster Recovery: Traps for CFTC/NFA Market Participants Commentary,Regulation

Jim Falvey

Guest commentary by Jim Falvey. Jim Falvey, general counsel for Green Key Technologies, has been an attorney in the derivatives space for over 15 years. He has served as general counsel of Eurex US and IntercontinentalExchange, as assistant general counsel for CME Group and, more recently, as general counsel and corporate secretary of R.J. O’Brien & Associates, a Chicago-based futures commission merchant. Fifteen years ago Before discussing Commodity Futures Trading Commission (“CFTC”) record retention, voice recording and disaster recovery rules, I think it’s worth reviewing the downside of not complying with these rules up front. Based on my experience, I…

SEFCON IV Snapshot Interview,Regulation,Video

SEFCON IV

The Wholesale Markets Brokers’ Association Americas (WMBAA) is an industry advocacy group made up of five inter-dealer brokerage firms (IDBs): BGC Partners, GFI Group, ICAP, Tradition and Tullett Prebon. Since 2010, the WMBAA has hosted its annual SEFCON conference in New York on issues surrounding swap execution facilities (SEFs), a new type of financial transaction execution entity created by the Dodd-Frank Act. SEFCON IV, to be held November 18, 2013, will feature a status update on SEFs from regulators, legislators, dealers, traders and other market participants. Conference chairman Chris Ferreri offers a glimpse as to what attendees can expect in…

What the World Needs Now: GMEX’s innovation gets some love Commentary,Financials

Jim Kharouf

It’s all starting. With the kick-off of swap execution facilities this month in the US, the visible finish line for the regulation marathon, exchanges and firms are now gearing up for the next phase for the derivatives markets – innovation. Innovation is a term tossed around loosely, but with new structures, new methodolgies and new constraints on the market, innovation is going to be the key to profitability for exchanges and firms. So it was interesting to see yesterday’s announcement that Deutsche Borse was taking a minority stake in the the Global Markets Exchange (GMEX), in London. GMEX seems to…