CME Group is strengthening its already powerful position in equity derivatives through an ambitious partnership with FTSE Russell, the index services arm of the London Stock Exchange Group.
CONTINUE READINGThis year’s FIA Boca put a special emphasis on emerging technologies. Executives from venture capital companies and technology providers shared their perspectives on the growth of fintech startups, the challenges to adopting new technologies, and the potential impact on business models.
CONTINUE READINGTwo innovative data providers, TellusLabs and Orbital Insight, have partnered with CME to distribute their data to market participants.
CONTINUE READINGOn July 31, the U.S. Treasury Department released a report on financial technology and innovation. The report is the fourth and final in a series drafted in response to an executive order issued by President Trump in February 2017. The 200-page report describes the dramatic advances in financial technology in recent years and makes more than 80 recommendations to promote innovation in financial services.
CONTINUE READINGThe Bank of England announced on Nov. 17 that three leading derivatives clearinghouses will hold a coordinated exercise in the first half of next year to test their procedures for managing a clearing member default. The exercise, which is still in the planning stages, will involve CME Group, Eurex and LCH.Clearnet and will simulate the effects of a default of a clearing firm that affects all three clearinghouses. Regulators in the U.S., Germany and the U.K. will monitor the exercise, discuss the results, and use the findings to strengthen the clearing system's capacity to manage a default.
CONTINUE READINGFIA PTG submitted comments to the SEC regarding Nasdaq's proposal to introduce a new priority for displayed orders, the Extended Life Priority Order Attribute (ELO).
CONTINUE READINGFIA submitted a comment letter today in response to the Securities and Exchange Commission's (SEC) call for additional feedback on a proposal by the Chicago Stock Exchange, Inc. (CHX) to introduce a new type of speed bump, the Liquidity Taking Access Delay (LTAD). FIA PTG's original letter to the SEC argued that speed bumps are fundamentally incompatible with Reg NMS and, further, that the LTAD is not designed to protect investors and the public interest, would permit unfair discrimination, and would impose unnecessary, inappropriate burdens on competition.
CONTINUE READINGPlease join us as Walt Lukken, President and CEO of FIA, provides his annual Washington Update and discusses how the Trump administration might impact the markets, changes at the Commodity Futures Trading Commission, as well as other challenges and opportunities facing the industry in 2017.
CONTINUE READINGFIA’s MiFID II Commodities Working Group, working jointly with EFET members, identified their top-priority questions regarding the ancillary activity exemption under RTS 20 of MiFID II. The questions were sent to ESMA and national competent authorities in a non-paper. FIA is currently identifying additional questions on RTS 20 and 21 of MiFID II that require clarification.
CONTINUE READINGFIA PTG submitted a comment letter to the Securities and Exchange Commission (SEC) in response to the Chicago Stock Exchange, Inc. (CHX) proposal to introduce a Liquidity Enhancing Access Delay (“LEAD”).
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