Exchanges
Banks looking to back bitcoin with new exchange
Digital currency bitcoin is set to be launched on an NYSE-comparable exchange this year with the backing of the institutional market
CME Europe set to launch FX futures in April
After a significant delay to the launch of its flagship European exchange, CME Europe will launch next month with 30 FX futures contracts
Icap sees steady NDF volume on Sef
Reported data shows Icap's Sef trading roughly $6 billion daily volume in non-deliverable forwards but other Sefs have fared less well, including Integral, with just one trade
Dialogue needed on Sef confirmations - GFXD
Following a further CFTC extension for Sef confirmation requirements until November 29, the global FX division stresses the need for dialogue and co-operation with regulators over the next month if the deadline is to be met
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
Footnote 88 prompts BlackRock to abandon NDF platforms
Asset manager returns to phone trading for non-deliverable forwards after controversial footnote in Sef rules makes trading on Sefs an unattractive option for users
Eurex delays launch of FX derivatives
Eurex has joined CME Europe in delaying the launch of FX derivatives, with no new dates set for launch by either exchange
Confusion reigns at dawn of Sef era, say participants
There is still uncertainty over the exact scope of no-action relief issued by the CFTC, and traders warn the same challenges will remain when the relief expires on October 30
Eurex preps launch of FX options and futures
German derivatives exchange will move into the FX market in October as it aims to compete for volume in listed futures and options
Sef regime begins, but platforms concerned over 'permitted' rule
Multi-dealer platforms are worried that, although they have to register as Sefs now, clients might be deterred from using them until they have to
Moscow Exchange to add more ruble products by year-end
The addition of new FX swaps and futures is expected to push further growth on the Moscow Exchange, officials say
Questions remain over finer details of Sef rules
The countdown to compliance with the Sef rules has begun following their entry in the Federal Register, but some platforms still have questions over the proposed model for a Sef
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
Let swap platforms trade futures – Icap’s Spencer
Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies
Cometh the hour, cometh the Sef
Imminent rules are expected from the CFTC on the criteria required of electronic platforms seeking to become swap execution facilities under the Dodd-Frank Act
Exchanges poised for further volume growth in FX
Both exchanges and ECNs have reported an uptick in FX trading volumes in January, but some suggest exchanges might be the biggest winners as activity rises in forex futures and options
Mifid delays cause frustration in OTC markets
Delays from the Council of the European Union in finalising its stance on the Mifid review mean the crucial trialogue negotiations are unlikely to commence before the second quarter, much to the frustration of market participants
LMAX management team buys majority stake from Betfair
Management buyout will give LMAX Exchange the necessary flexibility to evolve into a leading FX venue within three to five years, says chief executive David Mercer
Spotlight on: Mark Spanbroek, European Principal Traders Association
The EPTA’s vice-chairman and secretary-general talks to Robert Mackenzie Smith about the association’s mission to represent the interests of high-frequency traders to regulators, legislators and the market in general
CME’s new swap future uses Goldman Sachs patent
Licensing agreement could be worth up to 20% of revenues from patented contract, and is seen as an attempt by Goldman Sachs to hedge its bets as new rules threaten OTC market profits
FX futures and options volumes soar on CME
While volumes are down year-on-year, September has seen a number of record days on CME Group, particularly in currencies such as the Canadian and Australian dollars and the Mexican peso
CME ready to fight for market share in Europe, says Sammann
CME Group's European exchange, set to begin trading FX futures next year, will offer a competitive alternative to other exchanges, says the group's head of FX and rates
Decline in spot volume driven by low volatility and HFT controls
The fall in FX spot volumes revealed in this week’s semi-annual survey data has been driven by low volatility and new controls on HFT behaviour, according to members of the FX JSC
Absa Capital unveils five ETNs based on precious metals and currencies
Absa Capital has launched five exchange-traded notes, providing investors with exposure to precious metals and currencies.