News

Derivatives

SEF clarity begins to emerge

US Congress’s House Financial Services Committee has approved bills in the Dodd-Frank Act that clarify swap execution facilities and exempt some buy-siders from risk mitigation measures concerning OTC derivatives.

Outage hits TMX main exchange

Canadian exchange group TMX suffered an outage yesterday, with trading suspended for nearly two hours as technical difficulties disrupted the transition from the pre-open session to the market opening.
Europe

BATS Chi-X Europe targets Q2 2012 start

BATS Global Markets will aim to integrate its European multilateral trading facility with Chi-X Europe by Q2 2012, after finally completing the deal to buy the rival MTF.
Asia

Diversification loses power as euro concerns dominate

With volatility up in many parts of the Asia-Pacific region, along with correlations across almost every asset class, portfolio managers need to be more aware of risk profiles than ever, according to Scott Hamilton, director of client services at risk specialist Axioma, a provider of risk management tools for portfolio managers.
Asia

TSE/OSE merger benefits under scrutiny

The merger between the Tokyo Stock Exchange and Osaka Securities Exchange, slated for January 2013, is seen as unlikely to deliver touted trading cost reductions, while others believe the new mega-bourse will reduce competition and hamper innovation.
Americas

GETCO extends NYSE DMM business with BAML purchase

Electronic market making firm GETCO has expanded its liquidity provision responsibilities on the New York Stock Exchange with the purchase of Bank of America Merrill Lynch’s designated market making unit.
Americas

CSA seeks stronger enforcement powers over OTC derivatives

Canadian regulator the Canadian Securities Administrators (CSA) has proposed conducting comprehensive surveillance and monitoring of OTC derivatives, obtaining the authority to enact robust market conduct rules for OTC derivatives and take enforcement action against any potential misconduct.