MarketVoice News
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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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Skin in the Game
The Singapore Exchange’s clearinghouse plans to strengthen its protections against a clearing member default by increasing its own contribution to the clearing fund as well as clearing member contributions.
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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.
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New Regime for Commodities
On Sept. 28 the government of India formally unveiled the merger of the Forward Markets Commission and the Securities and Exchange Board of India. The merger was proposed in February as a way to strengthen regulation of commodity markets by bringing commodity derivatives under the same regulatory framework as securities and financial derivatives. As part of the merger, SEBI has amended its regulations to cover exchanges and brokers in the commodity derivatives markets and has created a separate department for commodity derivatives market regulation.
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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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Retail Forex Rules
The Commodity Futures Trading Commission has approved amended rules and a new interpretive notice filed by the National Futures Association intended to enhance protections for customers in the retail foreign exchange markets.
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