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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…

JLN Options: Not Enough Reform on Derivatives Newsletter,Options

Lead Stories Not Enough Reform on DerivativesThe New York Times (Editorial)On Thursday, several bills to pre-empt the regulation of derivatives will be the focus of a hearing in the House Financial Services Committee. The bills, which have already passed the Agriculture Committee, must be stopped if the world is to be made safe from reckless risk-taking by banks. As it turns out, Representative Jeb Hensarling, Republican of Texas and the new head of the Financial Services Committee, may be the man to stop them.http://jlne.ws/17qYlag S&P 500 hits new record high; financials leadAngela Moon, ReutersStocks rose more than 1 percent on…

John Lothian Newsletter: CME Europe to debut with 30 forex products; Bucking the trend, LME looks at expanding floor trading; Nasdaq’s U.K. Derivatives Platform Seeks 10% Market Share John Lothian Newsletter,Newsletter

As the evaluation process begins for CME Group’s new European exchange, the company reveals that it intends to open its doors with 30 forex products on its shelf for trading. While many exchanges look to reduce or eliminate person-to-person floor trading in favor of electronic processing, the London Metal Exchange is actually considering expanding its traditional transaction form.  Nasdaq OMX Group, which is also looking to establish a new London-based trading platform, declares that they want to see at least a ten percent market share by the end of the first year of that platform’s operation.

John Lothian Newsletter: Deutsche Börse Eyes Currency-Futures Challenge To CME; Former Chi-X Chief Haynes To Set Up New Trading System; CFTC Grants TrueEX Exchange Status To Offer Interest-Rate Swaps John Lothian Newsletter,Newsletter

Competition Monday starts with news that Deutsche Börse is considering new currency futures products in Europe to challenge the upcoming CME Group offerings. Alasdair Haynes, ex-Chi-X Europe boss, has plans to start a new alternative trading system to compete with his former company, as well as with established traditional exchanges. In the U.S., the CFTC gives a thumbs-up to new exchange TrueEX to create interest-rate swap products for trading. In First Read today, be sure to take a look at the new John Lothian Profiles feature:  in-depth interviews with some of the trading community’s most interesting and influential people. The…