MarketVoice News
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LNG derivatives take off
Trading surges as the global liquefied natural gas industry shifts to market-based pricing
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End-user profile: Russell Investments
Lisa Cavallari, the head of derivatives trading, discusses liquidity trends, transaction cost analysis, and the CDS market split.
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Testing the waterfall: CME and LCH stand up to stress tests
On May 1, the Commodity Futures Trading Commission released a report on tests that it conducted on the financial resources held by two large clearinghouses to cover losses arising from a member default. The tests, which were based on data collected in 2018, were part of the agency’s ongoing program to ensure the resiliency of the clearing system and its ability to absorb extreme market movements.
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Opinion: Why words matter in CFTC enforcement of “insider trading”
In the United States, two different legal regimes govern trading in securities and derivatives, each complete with its own language. These legal regimes evolved differently because the two markets at their core serve different purposes—capital formation on the one side, and price discovery and risk management on the other. In some cases, it can be easy to translate the language from one market to the other. However, one phrase from the securities world that does not translate accurately into the derivatives markets is “insider trading.”
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Opinion: Why words matter in CFTC enforcement of “insider trading”
Ex-CFTC lawyer warns agency would better serve derivatives markets with a focus on “misappropriation” instead
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FIA Speaks Episode 1: CFTC Chairman Chris Giancarlo
Chairman Chris Giancarlo talks with FIA President and CEO Walt Lukken and reflects on his accomplishments in five years in Washington, and what the future holds for the CFTC, derivatives reform, and international cooperation.
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People News: April/May 2019
Appointments, promotions and other people news in the derivatives industry
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Modernizing the technology of clearing
Big changes are under way at Options Clearing Corporation, the Chicago-based clearinghouse that is among the world's largest as measured by processing volume. Earlier this year, OCC launched a multi-year effort to modernize the institution's risk management, clearing and data systems. Dubbed the Renaissance Initiative, the project aims to comprehensively redevelop the company's technology. But according to John Davidson, the clearinghouse's chief executive officer, the changes go far deeper.
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Victory Capital reverses move into options trading, cancels Harvest acquisition
Waning volatility in 2019 has taken its toll on a number of market participants that seek to generate returns from trading options. In the latest proof of these challenges, investment firm Victory Capital has cancelled its plans to acquire Harvest Volatility Management, a fund manager specializing in options-based investment strategies for high net-worth individuals.
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Photo Gallery - BOCA 2019
Photos from FIA's 44th annual conference at the Boca Raton Resort & Club. FIA welcomed more than 1,100 attendees to this high profile annual gathering which examined the progress made since the financial crisis in 2008, explored the current environment for the cleared derivatives industry, discussed opportunities to reset some regulations and helped map out our path forward to more secure, healthy and robust financial markets.
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