MarketVoice News
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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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Mandatory Trading
The CFTC’s Division of Market Oversight held a public roundtable on July 15 to discuss the “made available for trade” process for determining which swaps should be subject to the CFTC’s mandatory trading requirements.
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New Data Center
Nasdaq is moving its primary data center in Scandinavia to a new location just outside Stockholm.
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MIFID II
The European Securities and Markets Authority on June 30 published its final report on draft technical standards on authorization, passporting, registration of third-country firms and cooperation between competent authorities under the Markets in Financial Instruments Directive II and the Markets and Financial Instruments Regulation.
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Global Cotton
The U.S. Congress has repealed a law dating back to World War One that prevents futures exchanges from listing contracts based on cotton grown outside the U.S.
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