Americas News
The latest industry and regulatory news affecting North and South America.
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FIA coordinates industry preparations for leap second event
On Tuesday, June 30, an additional “leap second” was added to realign Coordinated Universal Time (UTC) with mean solar time.
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FIA Market Technology division releases leap second recommendations
The FIA Market Technology Division today published a set of recommendations to help the industry prepare for the upcoming leap second event on June 30 and reduce the likelihood of market disruption.
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Record Fine
Deutsche Bank announced on April 23 that it reached joint settlements with U.K. and U.S. regulators as part of an industry-wide investigation into manipulation of interest rate benchmarks.
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FIA elects Directors and Officers
Washington, D.C. and Boca Raton, Fla.—March 10, 2015—FIA today announced the election of directors to its board at its annual meeting in Boca Raton, Fla. Eleven directors were elected in total at this meeting, including eight regular member directors for two-year terms and three associate member directors for two-year terms. Following the election, the new board elected the association’s officers and public directors.
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FIA issues recommendations for efficient swap clearing
On Feb. 4, FIA released a set of recommendations aimed at improving important operational elements of the new clearing infrastructure for over-the-counter derivatives.
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FIA Webinar: ICE Futures U.S. and ICE Futures Canada Disruptive Trading Practices
Representatives from ICE Futures U.S. and ICE Futures Canada gave a presentation and answered questions regarding recent changes to ICE Futures US and ICE Futures Canada rules governing disruptive trade practices. Speakers included Mark Fabian, Vice President, Market Regulation, ICE Futures U.S. and Steve Teller, Director, Market Regulation, ICE Futures Canada.
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Washington Watch November 2014
On Sept. 17, CFTC Chairman Tim Massad gave an update on the status of his talks with European regulators on the issue of clearinghouse recognition. Massad reaffirmed the CFTC’s view that “dual registration” is the right approach and said that the talks are now focused on avoiding conflicts and inconsistencies within that framework.
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@Markets November 2014
The European Energy Exchange, one of Europe’s leading markets for futures on power and gas, has contracted with Trading Technologies to provide the exchange’s trading participants with direct access via the internet. The two companies said the TT service can be used to access EEX markets for power derivatives, emissions spot and derivatives as well as coal and guarantees of origin. It replaces the service EEX currently provides, called EEX Direct Screen, and is expected to be rolled out to market participants during the fourth quarter. “It’s simple for the customers, they do not need any installation, just internet access and a current browser,” said Steffen Köhler, chief operating officer of the German exchange, which is majorityowned by Eurex.
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News Briefs September 2014
The Financial Stability Board on July 22 published a report outlining reforms to major interest rate benchmarks such as Libor, Euribor and Tibor. One set of the recommended reforms is aimed at strengthening the existing "IBORs" and other reference rates based on unsecured bank funding costs by underpinning them with transaction data. "By end-2015, administrators should have publicly consulted on any recommended changes, while currency groups will work to develop transition strategies and address any legal obstacles and risks," the FSB said.
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OFAC Ukraine Related Sanctions
FIA provides additional information concerning the cleared derivatives markets as OFAC continues to develop implementing Regulations.
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