New for Traders: ICE takes over Libor administration

 

Financials

 

  • IntercontinentalExchange Group announced that ICE Benchmark Administration (IBA) will officially take over as the new administrator of the London Interbank Offered Rate (LIBOR) fromFeb. 1, 2014. Today the Financial Conduct Authority (FCA) confirmed formal authorization to IBA to administer LIBOR effective Feb. 1, 2014. 
  • CBOE will expand its derivatives product range with the inclusion of treasury bonds and short-term VIX futures. CBOE CEO Ed Tilly also stated that short-term VIX futures could start trading as soon as February, and will be based on weekly S&P 500 index options.
  • CME Group announced a solution to address a gap in the delivery basket of the U.S. Treasury Bond futures. The gap results from the U.S. Treasury's suspension of 30-year Treasury bond issuance between early 2001 and early 2006.

Technology

  • Continuum announced its partnership with Mirus Futures. This agreement makes Continuum’s hosted infrastructure, including its robust market data delivery systems and distributed exchange gateways for high-speed trade execution, immediately available to Mirus Futures’ traders.
  • Deutsche Börse acquires enterprise software firm Impendium Systems U.K. firm operates private cloud platform “Elements” to help clients meet
    regulatory obligations
  • Korea Exchange announced it is planning to implement a “kill switch system” meanto to reduce the losses when trading algorithms go wrong.
  • CME Group re-located its primary backup center to New York from Chicago in December 2013 to make its backup facilities more secure and reliable.

Commodities

  • LME announced it will implement proposed warehousing policy reforms.
  • CME launched its first light sweet oil futures contract, the Edmonton Sweet futures contract, for Canada. The contracts will be settled against Calgary-based broker Net Energy Inc.’s index, with prices based on light sweet crude delivered in Edmonton from a number of different pipelines.

Options

  • ISE’s bid for S&P, Dow Jones indexes was rejected by US District Judge Alvin K. Hellerstein, who cited ISE’s loss of a similar lawsuit in Illinois courts where ISE was defendant.
  • ISE Gemini announced it has completed the rollout of 302 additional products, representing the fourth successful product rollout since launch.

Forex

  • Integral Development Corp. announced Integral FX Benchmark, a set of second-by-second foreign exchange benchmark rates for major currency pairs.
Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome