ICE acquires SuperDerivatives; CFTC considers new regulation

Exchange Shorts

U.S. Commodity Futures Trading Commission is considering whether to require that contracts for non-deliverable forwards be guaranteed at clearinghouses that accept collateral from buyers and sellers. The regulation would apply the clearing rule to FX contracts for a dozen currencies, including the CNY, KRW and BRL, Bloomberg reported.

InterContinental Exchange completed its acquisition of SuperDerivatives, which closed on October 7, 2014, in an all-cash transaction of approximately $350m.

Chicago Mercantile Exchange received approval from the Australian Treasury to clear off-exchange interest rate swaps in Australia, the FT reported. CME will be able to clear interest rate swaps as well as non-AUD denominated derivatives that are traded on CME or its CBOT market.

ICE: Euronext received new class no-action relief for foreign options markets, allowing it to offer Dutch and Belgian equity options to certain eligible US investors.

BNY Mellon agreed to acquire Cutwater Asset Management, a fixed-income unit of MBIA Inc. Cutwater has about $23 billion in assets.

China is considering the option of allowing non-banks to trade in the interbank FX market, which is currently limited to just banks, Reuters reported.

UK’s Serious Fraud Office convicted a banker from a leading British bank of attempting to manipulate LIBOR rates, the Independent reported.

U.S. Securities and Exchange Commission aims to finish drafting its rules on derivatives trade reporting and trade repositories, according to Chairman Mary Jo White, MLex reported. The rules would include reporting by dealers and swap participants to swap-data repositories, public disclosure of the trades and registration and regulation of repositories.

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.