MarketVoice News
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Red October
U.S. regulatory agencies issued a joint report in July on their analysis of an extraordinary wave of trading in the Treasury market on Oct. 15. On that day, the prices of Treasury bonds and Treasury futures made a very large swing in just 12 minutes, with no obvious catalyst, prompting widespread concern about the potential for further volatility.
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Options Trading in China
Sweden’s Orc Trading has teamed up with Galaxy Futures, a Chinese broker, to offer access to China’s nascent options market.
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Leap Second
The FIA Market Technology Division played a key role in helping the industry prepare for the leap second event on June 30, gathering information from exchanges around the world and providing guidance to members and the markets as a whole.
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CCP Risk Managment
The Australian Securities Exchange has selected Nasdaq’s Sentinel Risk Manager solution to manage real-time risk across its two clearinghouses.
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Commodity Markets
FIA Europe joined several other trade associations representing financial institutions and commodity firms in sending a letter to the European Commission, the European Parliament and the European Securities and Markets Authority raising concerns about several aspects of Markets in Financial Instruments Directive II that could “severely affect” commodity markets.
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Limiting Speculation
The Autorité des Marchés Financiers, the French regulator, in July implemented position limits for agricultural commodity derivatives.
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Red October
U.S. regulatory agencies issued a joint report in July on their analysis of an extraordinary wave of trading in the Treasury market on Oct. 15.
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Exchange Competition
A district court in the Netherlands has issued a verdict in a case involving competition between two European exchanges competing in the equity derivatives markets.
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Entering the Ring
R.J. O’Brien and Associates, the largest non-bank futures clearing firm in the U.S., announced on July 23 that its U.K. affiliate has been approved as a clearing member of the London Metal Exchange. The membership allows RJO to provide direct access to LME markets with both voice and electronic execution.
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CCP Risk Managment
The Australian Securities Exchange has selected Nasdaq’s Sentinel Risk Manager solution to manage real-time risk across its two clearinghouses. The system is expected to be implemented in five phases over the next two years and will include real-time margin calculation, cross-margining calculations and related customer risk analytics.
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