After a number of years having to take reactionary measures in
response to new regulatory requirements, panellists at Profit & Loss’ Forex Network New York conference expressed
enthusiasm for a new wave of innovation that has the potential to re-shape FX
TriOptima announces that 11 CME Group IRS clearing members
eliminated 12.5 trillion MXN ($664 billion) notional outstanding in the first
triReduce multilateral compression cycle for cleared Mexican peso (MXN)
interest rate swaps (IRS).
Over 35% of the cleared MXN notional principal outstanding
in CME ...
The US Commodity Futures Trading Commission (CFTC) has levied a $5 million fine against Russia’s JSC VTB Bank and its subsidiary VTB Capital for executing fictitious and non-competitive block trades in Russian ruble futures contracts, which were cleared through the Chicago Mercantile Exchange.
VTB Capital, a U.K.-incorporated bank, is 94% owned by a holding company that, in turn, is 100% owned by VTB.
The Order finds that between December 2010 and June 2013, VTB and VTB Capital executed over 100 block trades in RUB/USD futures contracts on CME, with a notional value of approximately $36 billion. s.
CME Group’ s CEO, Phupinder Gill, has informed the company's board of directors that he is retiring from the organisation and board, effective, December 31, 2016.
At the board's request, Terry Duffy has assumed the expanded role of chairman and CEO. Bryan Durkin, who is currently chief commercial officer, has been named president of CME Group.
Gill, a 28-year veteran of the exchange, has served in numerous roles during his tenure and was named CEO in 2012.CME says that during the next two months, Gill will work with Duffy, Durkin and the rest of the exchange’s management team on the transition.
The first six FX platforms to report volume data indicate a good November for the industry with the US elections driving sufficient volume to more compensate for the traditionally quiet period around the US Thanksgiving Holiday.
Bats’ HotspotFX handled average daily volume (ADV) of $30.4 billion in November including just under $64.5 billion on November 9 following the US poll. It was a similar picture at FastMatch where ADV was a new high for the platform at $17.1 billion.
Finally it was also a very good month for Gain’s GTX, which recorded ADV of $10.3 billion on its ECN and SEF and just over $4 billion on its Swap Dealer.