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Amazon Web Services and Nasdaq to sponsor FIA Innovators Pavilion
FIA is pleased to announce that Amazon Web Services and Nasdaq have signed on as sponsors of FIA’s third annual Innovators Pavilion, a showcase for fintech startups that are offering forward-thinking solutions for the global derivatives markets.
CONTINUE READINGFIA pledges funds for recovery efforts in Houston
FIA has a long tradition of helping our friends and neighbors in need—whether it’s Futures for Kids, the Greater Chicago Food Depository or Gifts for the Homeless. Hurricane Harvey devastated Houston, Texas and the surrounding areas. Houston is a hub for commodity production and trading, particularly energy and agricultural futures, and Hurricane Harvey hit close to home for many of FIA's members. We have more than 150 member firms and individuals based in Texas, and many are located in the Houston area. FIA is helping the disaster recovery efforts by donating $5,000 to the Red Cross to provide shelter, meals, and comfort to families in distress. Additionally, we will be matching our employees' charitable contributions to the Red Cross.
CONTINUE READINGFIA PTG: MELO contributes to spiraling complexity of equity market structure
FIA PTG submitted comments to the SEC today opposing Nasdaq's proposal to create a new “Midpoint Extended Life Order (MELO). FIA PTG's comments echoed Citadel's opposition to MELO, and build upon the principles expressed in prior comments opposing the Extended Life Order (ELO)
CONTINUE READINGFIA submits response to Ofgem Secure and Promote Review Consultation Paper
On 19 September, FIA submitted a response to the Ofgem Secure and Promote Review Consultation Paper published on 25 July 2017. The consultation explores the impact of the Secure and Promote licence condition on liquidity in the market and if further changes are required to the license condition.
CONTINUE READINGFIA PTG: IEX Crumbling Quote Remove Fee is discriminatory
FIA PTG submitted comments to the SEC today opposing a new proposed fee at IEX - the Crumbling Quote Remove Fee.
CONTINUE READINGFIA Operations Americas 6th Annual New York Summer Outing
Date: Thursday, September 28, 2017
CONTINUE READINGNew 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.
CONTINUE READINGMoral Hazard
The European System of Central Banks issued a statement on Aug. 25 expressing opposition to any change in EU regulations that would give central counterparties an automatic right of access to central bank liquidity. The statement emphasized that the current legal framework allows each central bank to determine for itself which facilities it wishes to offer to CCPs and defines the conditions for such access. An automatic right to central bank liquidity “would create moral hazard on an extraordinary scale,” the ESCB warned. The statement was issued in response to a European Commission consultation on possible changes to EMIR.
CONTINUE READINGTrader Tools
Contix, a company that helps traders scan social media for market-moving information, has extended its service to commodity markets. The company has developed algorithms that scan social media and traditional sources of information and identify breaking news events relevant to financial markets. The service was developed for equity traders, but in September the company announced that its algorithms now generate market-moving alerts related to energy, metals, grains and other commodity markets.
CONTINUE READINGLinks 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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