Merrill Lynch fined $25 million for multi-year spoofing scheme
Merrill Lynch Commodities admitted the illegal activity following an investigation by the US Department of Justice and the CFTC.
Derivatives
Swiss Life Asset Managers connects to Eurex as direct clearing member
Swiss Life Asset Managers has signed up to the Eurex Clearing ISA Direct model as a clearing member, with ABN AMRO as the clearing agent.
LCH goes live with first Chinese clearing member
Bank of China gains access to clearing of interest rate derivatives, will also act as a clearing broker to its client base.
ASX recruits Eurex’s European clearing sales head for new derivatives role
Fiona Tramontana joins ASX in Sydney to work within its rates, derivatives and OTC markets business.
Barclays to provide US client swaps clearing through Eurex
The move follows a rebrand of Barclays’ agency derivatives services business, and aims to ensure continued access to market in face of Brexit.
Johannesburg Stock Exchange adopts Millennium platform for equities and FX derivatives
JSE to run all equities, equities derivatives and FX derivatives markets on Millennium Exchange platform.
‘Last orders’ called on Libor benchmark
The Bank of England’s deputy governor for markets and banking has said pace of transition from Libor to Sonia must be accelerated.
Buy-sider calls for refinement of client clearing models to increase voluntary activity
Panelists at FIA IDX debated whether buy-side firms have increased their clearing activity for both mandated and non-mandated products.
Eurex begins test run of speed bumps in derivatives market
German exchange initiates programme intended to curb aggressive high-speed trading and level the playing field for price discovery in derivatives markets.
Trading Technologies expands access to Chinese derivatives markets
CN First’s clients based outside of China will gain access to Chinese derivatives markets via Trading Technologies’ software.