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People News – May/June 2021
Appointments, promotions and other people news in the derivatives industry
CONTINUE READINGMicro bitcoin futures success hints at the rise of retail
CME has reported that it took just three weeks for its new Micro Bitcoin Futures (MBT) to tally more than 650,000 contracts traded in the first month since launch. The success of this small-sized contracts hints at a broader move to encourage access to derivatives markets
CONTINUE READINGFIA New Member Profile – FMDQ Group
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group operating the largest securities exchange in Nigeria
CONTINUE READINGFIA EPTA members elect new Executive Committee
FIA EPTA’s members have elected a new Executive Committee as the governing body of the industry organisation. Johannah Ladd (Quantlab BV) and Virginie Saade (Citadel Securities Europe Ltd) were re-elected for a two-year term in ExCo. Chris Rhodes (Tyler Capital Ltd.) and David Furlong (Virtu Financial LLC) were newly elected for a two-year term in ExCo.
CONTINUE READINGFAQs on switch to 'SONIA First' for GBP Exchange Traded Derivatives from June 17
As part of a 'SONIA first' initiative, the Bank of England and FCA are encouraging all market participants and liquidity providers in the sterling exchange traded derivatives market to switch the default traded instrument to SONIA instead of LIBOR from 17 June
CONTINUE READINGDerivatives market leaders say infrastructure, cross-border access are top issues
At Boca-V event, speakers discuss the impact of Brexit, the opening of China and the rise of retail trading
CONTINUE READINGRegulation is key to wider adoption of digital assets, say panelists
Institutional investors have a growing interest in bitcoin and other digital assets, but a major stumbling block to widespread adoption is uncertainty around regulation, said panelists at FIA's International Futures Industry Conference, Boca-V. They added that while regulation uncertainty is perceived as a major headwind, some progress has been made in recent months in the US in bringing cryptocurrencies out of the shadows.
CONTINUE READINGExperts say pandemic is accelerating derivatives industry innovation
Industry experts at FIA's International Futures Industry Conference on March 17 agreed the adoption of innovation in derivatives markets has shifted into a higher gear as a result of the pandemic. They also agreed that three key factors were behind this change, including a step change in trading volume, pressures created by the abrupt shift to remote work and a change in mindset that is more receptive to innovation.
CONTINUE READINGEurope's algorithmic trading rules come under the microscope
FIA European Principal Traders Association (FIA EPTA) hosted a webinar on 24 February that reviewed European algorithmic trading rules under MiFID II and discussed suggestions put forward by the European Securities and Markets Authority (ESMA) for potential changes to the regime. Rules around algorithmic and high-frequency trading, as well as various aspects of market microstructure, form an important cornerstone of the MiFID II rulebook. In December 2020, ESMA published a consultation paper, evaluating the algorithmic trading regime ahead of the upcoming MiFID II Review by the European Commission. ESMA also made suggestions for potential new additions to the regime.
CONTINUE READINGBehnam details recent CFTC climate efforts at Boca-V
FIA President and CEO Walt Lukken sat down with Rostin Behnam, acting chairman of the US Commodity Futures Trading Commission, to discuss the agency's recent formation of a Climate Risk Unit that will focus on the role of derivatives in understanding, pricing, and addressing climate-related risk and transitioning to a low-carbon economy.
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