CFTC: no funds for routine inspections

May 6, 2015 09:47 AM
  • The Eaton Vance New York Municipal Bond Fund reported 1Q15 EPS of EUR0.68 (+518% y/y) on adjusted revenues of EUR130m (+9.6% y/y) and adjusted OpEx of EUR66.8m (-8.5% y/y). ENX achieved EUR43.6m (55%) of cumulated efficiencies.
  • ENX will appoint Jos Dijsselhof as interim CEO of Euronext N.V with immediate effect, pending relevant regulatory approvals, replacing Dominique Cerutti who left the company just two weeks after resigning on April 22.
  • Santiago Stock Exchange and Toronto Stock Exchange Venture Exchange jointly launched Santiago Stock Exchange, Venture (SSEV), a new public venture capital market for small and early-stage companies.
  • The Commodity Futures Trading Commission sued two United Arab Emirates traders, Heet Khara and Nasim Salim, for “spoofing” the New York gold and silver market, the Financial Times reported. According to the complaint that CFTC filed in a Manhattan federal court, Khara and Salim had profited by tricking other market participants with orders they did not intend to execute.
  • CFTC Chairman Timothy Massad stated that the agency had insufficient resources to conduct routine inspections of the exchanges and other companies it polices, and requested that U.S. Congress give the agency more money, Bloomberg reported. In Massad’s words, “we simply can’t get into these entities on a regular basis…we don’t even get to many of the clearinghouses and exchanges once a year. That is a big problem.”
  • China more than tripled the number of central government owned firms allowed to trade commodities derivatives overseas without regulatory approval, Reuters reported. Approximately an additional 100 large government-backed Chinese firms are not allowed to trade in international futures, swaps and options markets.


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