U.S. high-speed trading will face New York investigation, according to Bloomberg. Attorney General Eric Schneiderman also stated that the probe will review if US stock exchanges and ATSs provide HFT with improper advantages. Schneiderman was also quoted in Reuters stating that “rather than curbing the worst threats posed by high-frequency traders, our markets, as structured today, are increasingly too focused on catering to them.”
- European Securities and Markets Authority is studying the FX market following allegations that some of its benchmarks may have been manipulated by banks, Reuters reported. According to ESMA Chairman Steven Maijoor, “we are looking at the sector and we are collecting data, but we have no direct powers regarding any enforcement issues.”
- NDAQ raised its CEO Robert Greifeld’s pay by 55% last year to a total of $13.8m, which includes a $1m salary and $9.9m in equity awards.
- Tokyo Commodity Exchange and Dubai Mercantile Exchange will partner to jointly promote and develop energy derivatives, with a special focus on crude oil.
- TMX Group CEO Tom Kloet will retire after six years in service, the FT reported. TMX has already started the search for Kloet’s successor and will consider both internal as well as external candidates.
- The partnership will also include joint marketing of products and developing new trading services to increase participation in both markets.
- The Bank of England started an investigation of how clearing houses will test their resilience to market shocks in order to make certain that these clearing houses meet the new stringent European industry standards.
- Commodity Futures Trading Commission Commissioner Bart Chilton will step down on Friday, the WSJ reported. Chilton’s departure will leave the agency with just two members – acting chairman Mark Wetjen and Republican commissioner Scott O’Malia. Three CFTC nominees are pending in the Senate Agriculture Committee.