CME and ICE want to redefine manipulation

CME, ICE and futures trading industry representatives filed a friend-of-the-court brief opposing CFTC’s definition of “manipulation” used in a 2013 case against DRW.

HKEx plans to launch a system for mainland investors to take part in the IPOs. In the following years, HKEx plans to set up a stock link with Shenzhen Stock Exchange and add bonds and ETF. HKEx is also evaluating the launch of a third board of listings with different requirements to attract more companies.

HKEx will create a spot commodity trading platform in China. HKEx believes it could be able to develop relevant onshore benchmarks backed by LME expertise aand HKEx trusted status.

HKEx: LME Clear is working on extending clearing services beyond the metals market with the firm already in talks with a number of potential 'non-metals' clients.

Nasdaq will focus on Futures Contracts as the primary product for German Power. Market Makers on Nasdaq Commodities will move all quotations for German Electricity DS Future Contracts to Futures Contracts.

ICAP: Traiana and Trax entered into a business alliance to offer the industry an interoperable Repurchase Agreement (repo) matching service. Buy and sell-side clients of both Trax and Traiana can confirm and match repo transactions with one another

FINRA plans to start scrutinizing corporate culture including unstated rules, policies, practices and behaviors of brokerage firms.

HFT: researchers from UCLA and University of Sydney showed on a recent paper that HFT and non-HFT order cancellation ratios are almost identical as trading is fast and participants are updating orders much faster.

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.