The New York Stock Exchange (NYSE) is launching a new bitcoin index (NYXBT). It will track the dollar value of one bitcoin based on how the currency trades at select exchanges. “Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class,” said NYSE Group President Thomas Farley in a statement.
Trading Block Holdings
Trading Block Holdings Inc., a financial technology and services holding company announced the appointment of Paul Finnegan as Chief Executive Officer. The company is parent company of AOS Inc., which does business as TradingBlock and MoneyBlock, online brokerage businesses serving investment professionals and their clients, self-directed investors and traders.
World Federation of Exchanges
World Federation of Exchanges (WFE) welcomed David Thomas to the Federation as Head of Communication. Thomas comes from Deutsche Boerse AG, having worked as the global exchange group’s London head of media and government affairs before becoming a senior spokesperson for Clearstream, the group’s global settlement and custody operation.
Trading Technologies International Inc. (TT) and Nasdaq announced TT will introduce connectivity to Nasdaq’s European commodities operations, including the exchange group’s Nordic benchmark power market and German power contracts, through its new TT platform. This next-generation trading platform with mobile capabilities will give traders across Europe access to several markets from a single trading screen.
Securities and Exchange Commission
The Securities and Exchange Commission (SEC) has named Andrew J. “Buddy” Donohue the agency’s chief of staff. Donohue will replace Lona Nallengara who will leave the agency in June. Donohue returns to the SEC after serving as Director of the agency’s Division of Investment Management from May 2006 to November 2010.
CME Group announced the launch of physically delivered zinc futures contracts to begin trading on June 29, 2015, pending all relevant regulatory review periods. Zinc futures will be priced in U.S. dollars and will represent 25 metric tons of physical material, beginning with the October 2015 listed month.
FIA Global, in cooperation with the law firms Linklaters and Milbank, Tweed, Hadley & McCloy, announced an interactive tool to compare and assess the rules of central counterparties (CCPs) within the CCP Risk Review. Subscribers to the CCP Risk Review can view up-to-date responses to questions on CCP policies and procedures in a simple, standardized format at ccpriskreview.org.
Prudential Investments has launched the Prudential Global Tactical allocation Fund, a fund that offers the potential for long-term risk-adjusted total return through targeted long and short exposures to diverse sources of return across global equities, global bonds, commodities and currencies markets. Prudential Investments is the mutual fund business of Prudential Financial Inc.
ROW Asset Management
ROW Asset Management announced the addition of Philip Simotas to its team. Simotas joins the firm as its Chief Operating Officer and adds to the team of FX Concepts alumnae that form the core of ROW. ROW was founded in July 2010 by Ryan O’Grady and Jeff Weiser, both of whom were principals of the onetime
foreign exchange powerhouse.
Top banker Loh Boon Chye was appointed as the new CEO of Singapore Exchange, to lead the revival of Southeast Asia’s biggest bourse. Loh, 51, will commence his appointment on July 14. From December 2012 to early this year, Loh was with Bank of America - Merrill Lynch as deputy president and head of global markets for Asia-Pacific. Loh was also a director on the Board of SGX from October 2003 to September 2012.
Chicago Board Options Exchange (CBOE) announced it has entered into an agreement with Eurekahedge, a hedge-fund research and data collection company, to collaborate on the development of a series of new benchmark indexes that will measure the performance of hedge funds that use volatility-based investment strategies. The CBOE Eurekahedge Volatility Hedge Fund Index will be an equally weighted index of constituent hedge funds that engage in volatility strategies and are selected from a hedge fund database maintained by Eurekahedge.