Chicago Mercentile Exchange (CME) plans to launch a service that will bring interest rate “swaptions” markets into clearinghouses, Risk.net.
ICAP will join around 15 other companies in proposing a benchmark to replace the current gold fix, Reuters reported.
European Securities and Markets Authority (ESMA) is consulting the public on its proposal to extend the scope of clearing to FX non-deliverable forwards (NDFs), FOW reported.
InterContinental Exchange (ICE) hopes to launch its global cotton futures contract in 1Q15, Reuters reported. According to Tim Barry, VP of product development for ICE Futures, the contract was set to be launched in 4Q14, but has been delayed due to a new system being considered by Malaysia for agricultural imports.
Securities and Exchange Commission (SEC): the development and operation of the Consolidated Audit Trail (CAT) will cost $255.6m over five years, according to the average cost estimate of six potential developers.
MF Global: U.S. Bankruptcy Court in Manhattan approved a $295m payout to MF Global's unsecured creditors.
Depository Trust Clearing Commission and Euroclear are teaming up to create The Margin Transit Utility and a Collateral Management Utility. The Margin Transit Utility is a new margin settlement process will provide straight-through processing of margin obligation settlement. The Collateral Management Utility will simplify and optimize collateral needs and will be built based on Euroclear’s Collateral Highway.