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  • Isda publishes reports to explain OTC risk protections 11 March 2010

    The International Swaps and Derivatives Association has today published two reports designed to improve understanding of how collateral is used to mitigate credit risk in the over the counter derivative markets.

  • Reshuffle continues at Newedge 23 February 2010

    Newedge, the derivatives and securities brokerage, has appointed Laurent Cunin as head of its Asia Pacific operations, based in Hong Kong.

  • Resilient derivatives job market gets ready to surge again 23 February 2010

    Gauging how many derivatives staff lost their jobs in the financial crisis and what effect that had on pay is not easy. Some segments of the market have remained bullish, however, as Hugo Cox discovers.

  • Longevity derivatives: an idea whose time has come? 05 February 2010

    Every year, people live longer. That may sound nice, but it’s a big problem for the financial industry, especially pensions providers. Firms would love to be able to trade and hedge longevity risk, but there have been few practical solutions – until now.

Asia Pacific

  • All change at HKEx with arrival of new chief executive, senior appointments 09 March 2010

    Charles Li Xiaojia succeeded Chow Manyiu as chief executive of Hong Kong Exchanges and Clearing, in mid-January. Li will be the first chief executive of HKEx with a mainland Chinese background, having been educated in China and then the US. He was chairman of JP Morgan China from 2003 to 2009 and a non-executive director of the Shanghai Pudong Development Bank.

  • ASB rolls out Calypso 09 March 2010

    New Zealand Bank ASB has gone live with Calypso to provide integrated trading, processing and risk management. The treasury platform is cross-asset and can process front and back office reports and manage risk for foreign exchange, money market and interest rate derivatives trading.

  • Banus leaves BarCap 09 March 2010

    Rod Banus, head of futures Asia Pacific at Barclays Capital, has left the bank. Officials in Singapore have not yet been told plans for his replacement.

  • BFX, Bursa Malaysia aim for standard Islamic market 09 March 2010

    Bursa Malaysia and Bahrain Financial Exchange (BFX) have signed a commercial agreement to provide financial products to Islamic market participants and strengthen bilateral ties between the two.

Europe

  • Advent Software releases 2010 OSI compatible Axys 3.8 09 March 2010

    Advent Software updated its turnkey portfolio accounting and reporting suite at the end of January to Axys 3.8 which is compatible with the new reference system for options, which recently came into place called the Options Symbology Initiative (OSI). The update enhances the system to support the 2010 OSI, which is an overhaul of the old five-character options symbol which switched over to a 21 digit system on February 12.

  • Di Stasi becomes global head of corporate equity derivatives at UBS 09 March 2010

    Salvatore ‘Chicco’ di Stasi has been appointed global head of corporate equity derivatives at UBS in London. He reports to Matthew Koder, head of global capital markets, and to Jason Barron, global head of equity derivatives.

  • EEX — ‘central clearing cheaper than OTC’ 09 March 2010

    Those who claim it is cheaper to engage in derivatives over the counter than through a central clearing counterparty are not taking the cost of credit risk into account, according to a study by the European Energy Exchange.

  • European Commission revises ETS security guidelines following cyber attack 09 March 2010

    The European Commission will revise internet security guidelines following cyber attacks on the EU Emissions Trading System (EU ETS) registries in January.

Middle East and Africa

  • BFX, Bursa Malaysia aim for standard Islamic market 09 March 2010

    Bursa Malaysia and Bahrain Financial Exchange (BFX) have signed a commercial agreement to provide financial products to Islamic market participants and strengthen bilateral ties between the two.

  • Borse Dubai granted loan $2.5bn extension 08 March 2010

    Borse Dubai has taken up an option agreed with creditor banks a year ago and has been granted a one year extension on a $2.5bn syndicated loan, the state run holding company announced on January 21.

  • Bahrain gets ready 23 February 2010

    The Bahrain Financial Exchange has appointed Salah Al Abdulla as its chief corporate officer ahead of its launch.

  • Was Dubai exit good or bad for Nasdaq? 23 February 2010

    Nasdaq OMX is unlikely to be too concerned by losing its stake in Nasdaq Dubai, a senior exchange analyst has told FOW.

North America

  • MexDer hopes CME order routing deal will match BM&F’s 10 March 2010

    Mercado Mexicano de Derivados’s order routing deal with CME Group will aim to match that of its neighbour BM&F Bovespa’s, MexDer CEO Jorge Alegría has told FOW.

  • CFTC criticises ICE’s market oversight 09 March 2010

    The Commodity Futures Trading Commission has recommended that ICE Futures US should expand its regulatory oversight team after concluding that its compliance team was under “notable strain”.

  • CME to pay for Dow Jones Indexes with jv debt 09 March 2010

    CME Group will acquire 90% of Dow Jones Indexes in a joint venture which will leave Dow Jones with a 10% stake. Dow Jones, which is owned by News Corp, will gain $607.5m for 90% of the business, which the deal values at $675m. CME Group will contribute some market data services, which it has valued at $607.5m, to the joint venture.

  • New chairman for nanotech exchange 09 March 2010

    The Integrated Nano-Science and Commodity Exchange (INSCX), has appointed former senior Nasdaq developer Frank Racaneillo as honorary chairman and co-ordinator of US operations.

South America

  • MexDer hopes CME order routing deal will match BM&F’s 10 March 2010

    Mercado Mexicano de Derivados’s order routing deal with CME Group will aim to match that of its neighbour BM&F Bovespa’s, MexDer CEO Jorge Alegría has told FOW.

  • Lyall becomes director at BM&F Bovespa in UK office 09 March 2010

    Cathryn Lyall has become director of BM&F Bovespa UK. Lyall will oversee the expansion of the London office, which will be its European hub. Before, she worked as an adviser for the exchange.

  • New DMA gateway at BM&F Bovespa 09 March 2010

    Mega Bolsa, the equity trading platform of Brazil’s BM&F Bovespa exchange, will use a new communication interface from April 20 for all its automatic direct market access connections.

  • New chief at IDCG 23 February 2010

    Garry O’Connor has taken over from Chris Edmonds as chief executive of the International Derivatives Clearing Group, the new clearing service for interest rate swaps, majority-owned by the Nasdaq OMX Group.

Visit FOI

  1. Resilient derivatives job market gets ready to surge again

  2. The Chinese are right to be cautious

  3. Editorial: Tax me, baby, one more time

  4. Energy market shrugs off ‘toothless’ caps

  5. NZX: our new future will be the first global milk contract

Poll

Should the CFTC impose position limits on energy speculators?

Yes
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Quote

If you look at the empirical evidence nothing supports the idea that speculators are driving prices in futures markets

Craig Donohue, CME’s chief executive


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