New for Traders: Week ending August 10

Regulation

  • National Futures Association proposed a rule that would require FCMs to provide online, view-only access to bank balances for customer segregated and secured amount accounts to the firm's designated SRO.
  • CME Group proposed a number of new rules and changes to the oversight of the futures industry in an open letter to customers after PFGBest filed for bankruptcy. Among these rules is a requirement for FCMs to provide daily segregated funds reports to regulators and an increase in the frequency of surprise reviews of customer funds.

Technology

  • Direct Edge launched Edge Ticker PlantSM, an accelerated market data aggregator. Edge Ticker Plant leverages the Connect EdgeSM network and Exegy ticker plant technology to integrate more than 20 market data feeds with direct market access to all major U.S. equity exchanges.
  • Prolexic, a Distributed Denial of Service (DDoS) protection service, announced that its DDoS detection and DDoS protection services have been selected by Global eSolutions Limited, a provider of trading technology.
  • BATS Global Markets migrated its disaster recovery facility from Nutley, NJ, to Chicago.
  • The Cayman Islands Stock Exchange will use Deutsche Börse's electronic trading system, Xetra, from spring 2013. Xetra currently is used at the Vienna Stock Exchange, the Irish Stock Exchange, the Bulgarian Stock Exchange, the Ljubljana Stock Exchange (stock exchange of Slovenia) and the Malta Stock Exchange.
  • CME Group announced the launch of CME Direct Messenger, a sophisticated instant messaging platform for traders in the energy markets. CME Direct Messenger will be powered by market-leading instant messaging software developed by Pivot, Inc., which was recently acquired by CME Group.

Commodities

  • Intercontinental Exchange (ICE) announced that all cleared OTC products listed on ICE's OTC energy market will be transitioned to futures products in January 2013. These products will continue to be listed and traded on the ICE platform and cleared at ICE Clear Europe, and block trades will continue to be available subject to applicable requirements.
  • ICE announced the introduction of 29 new cleared OTC contracts. The new contracts include oil and refined petroleum product swaps, North American power swaps and natural gas liquids (NGLs) swaps. ICE is also introducing its first uranium swap

Options

  • ICE Futures US will end floor trading for certain options contracts, including some soft commodities contacts, and become fully electronic starting Oct. 19. ICE spokesman Lee Underwood said that “there has been an emphatic shift from floor to electronic execution in the options market, and as a market operator we have an obligation to respond.” Underwood also said that ICE Futures US will shift its business from lower Manhattan to Midtown Manhattan in mid-2013.

Forex

  • India’s MCX Stock Exchange received approval to launch currency options on its platform. MCX-SX will introduce options on the USD-INR currency pair; although a launch date has yet to be announced. The exchange also received regulatory approval in July to start trading equities, equity futures, interest rate futures and wholesale debt products.
  • FOREX.com, the online retail trading division of GAIN Capital Holdings, Inc., announced the launch of a new service in Canada. FOREX.com Canada (www.forex.com/ca) allows Canadian residents to trade more than 70 products, including 50 currencies and a variety of commodity markets, including energy, precious metals and agricultural commodities

Financials

  • Knight Capital will resume responsibility as a NYSE designated market maker in 524 securities on Monday, Aug. 13.
  • Eurex Exchange announced that its VSTOXX® Mini Futures can be traded in the U.S., effective immediately. This gives U.S.-based customers the opportunity to trade European volatility via this mini futures contract listed on Eurex Exchange. They have been listed since June 2009.
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