National Grain and Feed Association's letter to CME

Exchange Shorts

Commodity Futures Trading Commission committees will meet in the coming weeks to discuss high-profile cross-border and technology issues, the Trade News reported. The regulator may also set new rules for foreign CCPs that are not seeking a US derivatives clearing organization (DCO) license.

CFTC acting Chairman Mark Wetjen told lawmakers that the agency is considering capital requirements for derivatives trades that are not processed through a central clearinghouse.  Wetjen also stated that he aims to send the draft to CFTC Commissioner Scott O’Malia.

Bank of England (BOE) urged clearing houses and large broker-dealers to publish their derivatives risk calculations, stating that more transparency was required in order to avoid future potential systematic risks, the Gulf News reported.

CME Globex should temporarily suspend open-outcry trading if its electronic platform crashes and then reopen for short after-hours sessions if the system is restored later that day, the National Grain and Feed Association stated in a letter to CME.

NDAQ appointed Thomas Wittman as executive vice president, Global Head of Equities. Wittman was most recently senior VP, Head of US Equities and Derivatives and president of NASDAQ OMX PHLX.

Royal Bank of Scotland will close down its interest-rate trading business as a result of “increasing level of capital, operating costs and investment that would be required for business to be globally competitive in a market with extremely thin margins,” Reuters reported.

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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