HKEx to launch mini copper, aluminum and zinc contracts

The Commodity Futures Trading Commission issued a “no-action letter” that will provide relief with respect to compliance with certain record keeping provisions, Leap Rate reported. The aim of these provisions is to promote end-user trading on swap execution facilities (SEFs) as well as on designated contract markets (DCMs).

CFTC Acting Chairman Mark Wetjen asked the industry for additional feedback on a proposed rule to curb speculators in commodity futures markets, Reuters reported. The reopening of the comment period is aimed at ensuring that the proposed changes do not block access to markets for those who use them to hedge prices instead of speculate.

CFTC Commissioner Scott O’Malia urged that negotiations between US and European regulators regarding how best to use swap reporting data should begin immediately, The Trade News reported. O’Malia was quoted saying that “right now, the US and European Union are working separately to resolve data quality issues that should instead be resolved together.”

U.S. Senate plans to confirm its votes for CFTC nominees, including the nomination of Treasury Department official Timothy Massad as CFTC Chairman, and Sharon Y. Bowen and J. Christopher Giancarlo as commissioners.

Hong Kong Exchanges and Clearing Limited aims to launch mini copper, aluminum and zinc contracts based on LME settlement prices, as well as a thermal coal futures contract in 4Q14, pending regulatory approval.

Multi Commodity Exchange-Stock Exchange probe: SEBI’s former chief C B Bhave as well as SEBI chairman U K Sinha have been examined by the Central Bureau of Investigation (CBI) in the MCX-SX probe, the Times of India reported. According to CBI sources, “a decision on closing the PE or registering an FIR would be taken in the next few days.”

 

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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