CFTC approves TOCOM as an FBOT
The Tokyo Commodity Exchange has announced that the U.S. Commodity Futures Trading Commission has issued an Order granting TOCOM's application for registration as a Foreign Board of Trade (FBOT) under the U.S. Commodity Exchange Act on January 20. FBOT registration permits TOCOM to provide its Members and market participants located in the U.S. with direct access to its electronic order entry and trade matching system.
A foreign board of trade registered with the CFTC must demonstrate that it meets regulatory requirements comparable to those required of U.S. futures exchanges. Further, the CFTC must determine that the foreign board of trade's regulatory authorities support and enforce regulatory objectives that are substantially equivalent to the CFTC's objectives, in particular, with respect to market integrity, customer protection, clearing and settlement and the enforcement of the rules of the foreign board of trade and its clearing organization.
- CFTC Issues Order of Registration for the Singapore Exchange Derivatives Trading Limited
The U.S. Commodity Futures Trading Commission announced today that it has issued an Order of Registration to the Singapore Exchange Derivatives Trading Limited (SGX-DT), a Foreign Board of Trade located in Singapore. Under the Order, SGX-DT is permitted to provide its identified members or other participants located in the U.S. with direct access to its electronic order entry and trade matching system to trade equity index, interest rate, commodity and foreign exchange futures and options contracts.
- Variance Futures from Eurex Exchange
From the press release, "we have again extended our product range by introducing a listed Variance Future (EVAR) based on the EURO STOXX 50®, the most prominent equity index in Europe.
Our new Variance Futures are our on-exchange complement to OTC variance swaps. These innovative contracts replicate the payoff profile of OTC variance swaps. They are designed to fit the needs of a growing number of sophisticated investors who seek exposure to volatility and are simultaneously looking to benefit from the efficiencies of exchange trading and central clearing."
- CFTC Issues Order of Registration for Bursa Malaysia Derivatives Berhad
The U.S. Commodity Futures Trading Commission announced today that is has issued an Order of Registration to Bursa Malaysia Derivatives Berhad (BMD), a Foreign Board of Trade located in Kuala Lumpur, Malaysia. Under the Order, BMD is permitted to provide its identified members or other participants located in the U.S. with direct access to its electronic order entry and trade matching system to trade agricultural commodity, interest rate and security index futures and option contracts.
The Commission issued the Order in accordance with Part 48 of the Commission’s regulations, which provides that such an Order may be issued to a foreign board of trade that possesses, among other things, the attributes of an established, organized exchange and that is subject to continued oversight by a regulator that provides comprehensive supervision and regulation that is comparable to the supervision and regulation exercised by the Commission.
- Russell Investments and Integral launch comprehensive execution service for institutional investors — designed to fix the Fix
Global asset manager Russell Investments and Integral Development Corp., a leading FX technology company, announced today the launch of Russell FX Network, a new end-to-end trading solution for the buy-side community for netting, execution and allocation of foreign exchange transactions. RFX Network is designed to help institutional investors including asset managers obtain currency exchange rates that seek to minimize tracking error with respect to the rates published by WM/Reuters.
RFX Network allows buy-side firms to automate execution of complex trade lists in a novel solution that combines internal netting within an investor’s trading portfolio with external matching amongst the larger buy-side community. RFX Network combines two technology solutions developed by Integral — powerful internal netting capabilities and an FX facility that matches customer interests at the midrate — into a comprehensive FX execution service.