Jefferies in discussions to sell its commodities and financial derivatives brokerage

December 17, 2014 09:55 AM
Exchange Shorts

Intercontinental Exchange Inc.: NYSE aims to waive costs for midpoint liquidity orders coming from retail investors in order to bring more trading back from “dark pools” and other OTC venues, the WSJ reported. By waiving fees for midpoint liquidity orders, NYSE will pay a rebate without charging the other side to buy.

NDAQ appointed Jeff McCarthy as vice president, head of ETP Listings & Services, Reuters reported. McCarthy previously worked at Citigroup’s Investor Services & Markets group, where he was responsible for Global ETF & North America Fund Services.

ENX launched trading in single stock dividend futures on the most liquid stocks listed on its Amsterdam, Brussels, Lisbon and Paris markets. The new dividend futures contracts will be available for trading from 1Q2015, starting with CAC 40 Index components.

Jefferies is in discussions to sell its commodities and financial derivatives brokerage, which has been dealing with high costs and falling fees, Reuters reported.

Liquidnet chose BNP Paribas to provide it with back office services including third party clearing, settlement, and assistance with the records keeping process.

Chicago Mercantile Exchange's president of global operations, technology and risk, Kim Taylor, stated that “we believe very much in safety and up to a point every dollar you spend on safety is a good spent…but after a certain point every dollar you spend on safety is a cost that is perhaps unnecessary as that additional protection is not as necessary” the Trade News reported.

European Commission will propose legislation in 2015 to toughen regulations on clearinghouses, part of its effort to prevent financial turmoil should any of the clearinghouses fail.

Commodity Futures Trading Commission Chairman Timothy Massad promised to craft “bright-line rules” in the regulator’s position limits proposal to differentiate between “what is really legitimate hedging versus excessive speculation,” MLex reported.

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.