MarketVoice News
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Trader Tools
Contix, a company that helps traders scan social media for market-moving information, has extended its service to commodity markets.
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Cross-Border Oversight
In August the Commodity Futures Trading Commission issued an exemption to Australia’s ASX Clear from registering as a derivatives clearing organization.
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Links with China
CME Group and China Foreign Exchange Trade System, a sub-institution of the People’s Bank of China, announced on Sept. 25 an agreement to cooperate and explore ways “to promote each other’s market infrastructure and products.”
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Trader Tools
Contix, a company that helps traders scan social media for market-moving information, has extended its service to commodity markets. The company has developed algorithms that scan social media and traditional sources of information and identify breaking news events relevant to financial markets. The service was developed for equity traders, but in September the company announced that its algorithms now generate market-moving alerts related to energy, metals, grains and other commodity markets.
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Implementing Financial Reforms
On Sept. 28 the European Securities and Markets Authority published the final versions of its regulatory technical standards on three major pieces of financial reform legislation: MiFID II, the Market Abuse Regulation and the Central Securities Depositories Regulation. ESMA commented that the package of standards will implement many of the most important provisions in Europe’s post-crisis financial reforms.
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New Options for Energy Clearing
On Sept. 24, the Commodity Futures Trading Commission issued an order granting Nodal Clear registration as a derivatives clearing organization. The order clears the way for Nodal Clear to provide clearing services for financially settled futures and options on futures executed on or through its affiliate, Nodal Exchange.
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Regulating Swaps
The Hong Kong Monetary Authority and the Securities and Futures Commission jointly issued a consultation on introducing the first phase of mandatory clearing and the second phase of mandatory reporting.
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Preparing for Remit
On Sept. 24, FIA issued a notice summarizing the registration and reporting requirements of the EU Regulation on Wholesale Energy Markets Integrity and Transparency (REMIT).
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Electronic Trading
OTC Global Holdings, a Houston-based group of interdealer brokers specializing in energy commodities, is now offering customers the ability to execute block trades in natural gas options and other over-the-counter energy products via an online trading platform.
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System Performance
More and more firms are outsourcing their trading infrastructure to external providers, creating new monitoring challenges for trading firms.
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