Exchanges
NASD vice-chair discusses merger and compliance trends
Doug Shulman, vice-chair of the National Association of Securities Dealers, an industry body and regulator for US securities regulators, spoke yesterday of his organisation’s merger with the New York Stock Exchange’s (NYSE) independent regulator, and up…
In the shadows
Booming over-the-counter derivatives markets may be generating huge revenues for dealers, but they are also casting a worrying shadow over trading book profits in the form of counterparty credit risk. Are contingent credit default swaps the answer?
New world order
Eurex announced in April it will acquire the International Securities Exchange for approximately $2.8 billion. This follows the finalisation of the merger between NYSE Group and Euronext in April. How are regulators responding to the cross-border…
Iberdrola and Endesa hold first power auction
Utilities Iberdrola and Endesa have held Spain’s first power auction, awarding a total volume of 1.45 terawatt hours (TWh). This auction represents the fruits of efforts by the two Spanish utilities to develop a competitive Spanish power market and…
HKEx extends tech maintenance agreement with OMX for derivatives trading and clearing
Hong Kong Exchanges and Clearing (HKEx) has extended its partnership with exchange technology vendor OMX for the support and maintenance of its derivatives trading and clearing and settlement systems for another five years.
AXA launches active currency fund
After a year of preparation, AXA Investment Managers has entered the currency market with its first actively managed currency fund.
FOA launches UK power market initiative
The Futures and Options Association (FOA) has launched an initiative that aims to introduce a new design for wholesale UK power markets.
Amaranth trades “altered natural gas prices.”
Energy hedge fund Amaranth Advisors exploited legal loopholes and altered natural gas prices through “excessive speculation” before its 2006 implosion, a US senate investigation has found.
Russell on Ice
Russell Investment Group has moved its Russell 1000, 2000 and 3000 indexes from the Chicago Mercantile Exchange (CME) to the IntercontinentalExchange (Ice), after signing an agreement with Ice on June 18. The exclusive licensing agreement that was signed…
London Stock Exchange releases Mifid software
The London Stock Exchange (LSE) has announced the technology that it will offer member firms to ease the burden of Mifid compliance.
Mixed motives as ICE buys Canadian exchange
IntercontinentalExchange (ICE), the electronic energy and soft commodity bourse, has entered into an agreement to purchase Winnipeg Commodity Exchange (WCE), Canada’s main agricultural commodity futures and options exchange and home to the world’s…
NASD and NYSE regulators to merge
The National Association of Securities Dealers (NASD), an independent regulator of the US securities market, and the New York Stock Exchange (NYSE)’s member regulation operations will become the Securities Industry Regulatory Authority (SIRA).
CBOE launches PutWrite index
The Chicago Board Options Exchange (CBOE) has launched the CBOE S&P 500 PutWrite Index, a new benchmark index based on selling S&P 500 Index (SPX) put options in order to buy short-term US Treasury bills.
Equiduct releases Market Model document
Daily news headlines
LSE launches revamped trading system
Daily news headlines
Supervisory clampdown
South Korea's financial regulator is cracking down on foreign dealers doing illegal onshore derivatives business, signalling it is taking a tighter grip on the securities market ahead of major rule changes due in 2009. Joe Marsh reports from Seoul
CME to expand its S&P portfolio
After losing its licensing agreement with Russell Investment Group to the Intercontinental Exchange (ICE), the Chicago Mercantile Exchange (CME) has announced it will expand its Standard & Poor's equity index futures portfolio with an index for small-cap…
Iconium releases second edition of Mifid Policy Library
Iconium, a software company, said the second edition of Mifid Policy Library will contain all of the directive’s Level 2 requirements, suggested policies and recommended actions.
LME to launch steel futures in 2008, DGCX steel launch delayed
The London Metal Exchange (LME) will commence futures trading in steel billet in April 2008. There will be two separate regional contracts, defined by the LME as for the Near East and Far East respectively
ICE takes over Russell Index futures contracts
The Intercontinental Exchange (ICE) has won exclusive rights to derivatives on the Russell series of equity indexes. The deal could give the exchange the edge in the continuing takeover battle over the Chicago Board of Trade.
Johannesburg launches currency futures
The Johannesburg Stock Exchange (JSE) has launched the first in a series of currency futures contracts. The rand/US dollar futures started trading yesterday on Yield-X, JSE's interest rate exchange.