UK vs. European Central Bank: Pound it out

Intercontinental Exchange: NYSE, Citadel and Invesco will call for reforms to lower the cap on “access fees”, fees exchanges can charge brokers to enter the market, Reuters reported. According to Citadel CEO Kenneth Griffin, “the current…access fee of 30 cents per 100 shares is now significantly greater than the cost of providing matching services by the exchanges and should be reduced to reflect the current competitive reality.”

DB1: Eurex launched a new clearing architecture, C7, to support both listed and OTC derivatives and compliance in response to new EMIR derivatives regulations, the Trade News reported.

UK lawyers will take on the European Central Bank in a hearing during which they will argue against polices which they allege will punish London because the UK has kept the pound sterling. The attorneys are opposing the ECB policy documents that state that clearinghouses handling trades in euros should be based in the single currency area or “be precluded from access to the financial markets in the Eurosystem.”

ICAP co-head of its electronic currency trading platform, Nichola Hunter left the London-based broker as the firm re-evaluates the strategy for the electronic unit, Bloomberg reported.

Germany: the Federal Finance Agency aims to increase savings on the interest rates swaps it currently uses by offering collateral on as much as EUR 8b of the trades as soon as next year, Bloomberg reported.

SEC appointed Thomas J. Krysa the associate regional director for enforcement in its Denver office, where he will oversee enforcement efforts in seven western states.

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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