CBOE to implement non-stop VIX futures

Industry Shorts

  • CBOE will implement non-stop VIX futures trading by year-end in order to attract more Asian trading, according to CEO Ed Tilly. Reuters also quoted Tilly stating, “we need to pick up the Asian trading day…we’re committed to this year.” CBOE will also evaluate whether to open a trading hub in Asia to facilitate trading.
  • LME CEO Garry Jones said that the open outcry trading floor is essential for the validation of LME as the forum for benchmark non-ferrous metals prices.
  • ASX is pushing for five-year time horizons on policies affecting market structures and hopes to keep key infrastructure for trading equities and derivatives local. According to ASX CEO Elmer Funke Kupper, “we would quite like to get a clear answer to that question for the next five year. We make investment decision on a five-year horizon. You need certainty,” as reported by the Sydney Morning Herald.
  • CFTC acting chief Mark Wetjen believes that a proposed transaction fee on derivatives market participants is gaining political traction. Wetjen was also quoted saying that “it’s true that even from previous administrations there have been calls to impose some kind of tax or fee-like structure, but it does feel like this idea has taken on an air of more seriousness.”
  • U.S. Federal Reserve examined how benchmark currency rates were calculated in 2012, Bloomberg reported. According to Fed spokeswoman, the Fed-sponsored Foreign Exchange Committee “undertook an effort to catalogue existing rates. This effort did not reflect concerns specific to the FX rate.”
  • SEC proposed rules to safeguard the country’s largest clearing agencies from collapsing. According to Reuters, SEC’s proposal is aimed at clearing and settlement agencies such as the OCC and DTCC, which are considered “systematically important” market utilities.
About the Author

Bernardo Mariano brings to ERDesk his experience structuring private deals for the acquisition of mutual exchanges. Prior to joining ERDesk Bernardo worked as a Director for Instinet and later, CEO of Reuters' Bondex. He holds an MS in Economics from University of Illinois and an MIA in Finance from Columbia University. He can be reaced at be reached at mariano@erdesk.com. 

Equity Research Desk (www.erdesk.com) provides fundamental analysis of global capital markets related entities to support the investment process of buy-side analysts at hedge funds and traditional money managers. The company focuses its coverage on securities exchanges, discount brokers, trading platforms, asset managers, financial-related technology companies and intellectual property assets in the US, Europe, Asia, and Latin America.

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