The exchange sector was down 280 bps, underperforming global equities by 70 bps.
European Securities and Markets Authority published rules enforcing the compulsory clearing of interest rate swaps from mid-2015, the FT reported. According the report, ESMA proposed that many tenors of basis swaps, fixed-to-float swaps, forward-rate agreements and overnight index swaps denominated in EUR, JPY and USD be cleared. ESMA also recommended that the rules be phased into the market over the next three years.
JP Morgan: the firm’s sale of its commodities unit to Mercuria Energy Group has supposedly been revised to cover only $800m of assets, down from the originally agreed $3.5b in assets, Bloomberg reported.
Chicago Mercentile Exchange plans to launch a service that will bring interest rate “swaptions” markets into clearinghouses, Risk.net.
InterContinental Exchange completed its first phase of the Liffe transition to ICE Futures Europe. The London Soft Commodities are now on the ICE platform alongside ICE Futures US Softs Contracts.
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.
ICAP will join around 15 other companies in proposing a benchmark to replace the current gold fix, Reuters reported.
ESMA is consulting the public on its proposal to extend the scope of clearing to FX non-deliverable forwards (NDFs), FOW reported.
CME: NYMEX lost its bid to dismiss the lawsuit filed by Commodity Futures Trading Commission which claims that the exchange is liable for leaks about customers and trading made by two exchange employees, Bloomberg reported. According to the report, the information leaked included the identities of buyers and sellers in various trades, prices and trading strategies.
DB1: ISE filed an application with Securities and Exchange Commission to open ISE Mercury, its third U.S. options exchange in 1H15.