MarketVoice News
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Trump Nomination
On May 2, the Senate confirmed the nomination of Jay Clayton to serve as chairman of the Securities and Exchange Commission.
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Bits to Barrels
Trafigura, the global commodity trading house, is experimenting with a distributed ledger system for processing trades in crude oil. In March it announced that it is working with Natixis, a French bank, and IBM to develop a platform that will digitize crude oil trades, and said the new system will offer "improved transparency, enhanced security and optimized efficiency. The system is hosted on IBM's cloud platform, Bluemix, and is built on an open source network called Hyperledger Fabric.
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Testing Blockchain
Euroclear, one of the world's leading settlement houses, is pressing ahead with plans to introduce blockchain-backed gold products, with the goal of delivering reduced counterparty risk, lower capital requirements and increased operational efficiencies.
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Expanded Access to Commodity Derivatives
The Securities and Exchange Board of India announced it will issue unified licenses to brokers and clearing members to transact in both commodity derivative and equity markets. This follows the merger of the Forward Markets Commission, which regulates commodity markets in India, and SEBI in September 2015. Previously, separate legal entities were required for the different businesses. Additionally, SEBI proposed to permit hedge funds to invest in commodity derivatives and said it will soon permit exchanges to offer commodity derivative options.
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Rulebook Revamp
The Japan Securities Clearing Corporation has implemented several changes to its clearing rules for listed derivatives to enhance its clearing services and to introduce practices adopted by other major global clearinghouses.
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Porting Problems
Customers may not be able to find a new home for their cleared derivatives if their clearing member goes into default, several industry participants warned the Commodity Futures Trading Commission at an April 25 meeting of the CFTC’s Market Risk Advisory Committee.
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From Paris to Amsterdam
Euronext has signed a binding “heads of terms” agreement with the Intercontinental Exchange to use ICE Clear Netherlands for its derivatives markets.
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From Paris to Amsterdam
Euronext has signed a binding “heads of terms” agreement with the Intercontinental Exchange to use ICE Clear Netherlands for its derivatives markets.
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Sponsored Content
What’s Driving Global Oil Volumes Right Now
Mike Davis, director of oil market development at Intercontinental Exchange, discusses current trends shaping the global oil markets.
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