Americas News
The latest industry and regulatory news affecting North and South America.
-
IDX Video: IOSCO targets clearing issues
Paul Andrews, the new head of the International Organization of Securities Commissions, is planning to stake out positions on two issues of critical importance to the derivatives markets: equivalence determinations and the leverage ratio.
CONTINUE READING -
FIA PTG comments on Treasury market structure
FIA PTG responded to the Treasury Department's Request for Information (RFI) on the evolution of Treasury market structure.
CONTINUE READING -
FIA PTG comments to the SEC on amended IEX application and proposed interpretation of Reg NMS
FIA PTG submitted comments to the Securities and Exchange Commission (SEC) today on the Commission's Proposed Interpretation Regarding Automated Quotations Under Regulation NMS and to further comment on IEX's amended application for registration as a national securities exchange.
CONTINUE READING -
FIA Operations Americas 2016 Scholarship Program
The FIA Operations Americas Division is pleased to announce that the 2016-2017 Scholarship Application is now available. We are proud to confirm that the division will be awarding ten scholarships with each valued at $2,500.
CONTINUE READING -
CBOE Buys Stake in Robo-Advisor
CBOE Holdings announced in January that it has bought more than 50% of Vest Financial, a company founded in 2012 that aims to provide investors with a simple way to use options on individual equities and exchange-traded funds as protection against market downturns.
CONTINUE READING -
FIA Law and Compliance Division releases notice to omnibus accounts regarding restrictions on exchange access for sanctioned parties
The FIA Law and Compliance Division today published a standard notice to help firms comply with exchange rules that require clearing members to notify their omnibus customers of restrictions on access for “sanctioned parties” or similar entities under exchange rules. In particular, CME, CBOT, NYMEX and COMEX have notified the CFTC that they will amend Rule 960 to require that clearing members notify their omnibus customers of restrictions against dealing with sanctioned parties and that the omnibus customers do the same with respect to their own omnibus customers. The revisions to Rule 960 are set to be made effective by the exchanges on Feb. 29, 2016.
CONTINUE READING -
Leverage Limitation
On Dec. 11, the Securities and Exchange Commission voted by a 3-1 margin to issue a proposed rule limiting how much investment companies such as mutual funds and exchange-traded funds can invest in derivatives such as futures, forwards and swaps. The proposed rule also contains a number of requirements aimed at addressing the risks of holding derivatives in investment portfolios.
CONTINUE READING -
Cybersecurity: New Standards for Market Infrastructure
Efforts are underway in Europe and the U.S. to strengthen industry protections against attacks on computer systems. Regulators in both regions are developing new standards for exchanges and clearinghouses, which are seen as critical to the operational security of financial markets.
CONTINUE READING -
Dodd-Frank Fix
On Dec. 4, President Obama signed into law a transportation bill that includes a provision removing a barrier to the sharing of data on swap trading. The provision stripped away a requirement in Dodd-Frank that U.S.-based swap data repositories obtain a written indemnification agreement from overseas regulators seeking to access their data. This indemnification provision was intended to protect the confidentiality of the data, but proponents have warned that it effectively restricted foreign regulatory access to data.
CONTINUE READING -
IDB Consolidation
ICAP in November entered into an £1.1 billion ($1.63 USD) agreement to sell its brokerage business to Tullett Prebon. Although ICAP will retain some ownership of the combined company, the move marks a decisive shift away from ICAP's origins as a voice broker. Going forward, the company will focus primarily on two main lines of business: post-trade services and electronic markets.
CONTINUE READING
