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EBS Unveils Aggregator Certification Programme

EBS has unveiled proposals for best practices relating to aggregation in FX markets, the EBS Certified Aggregation Partner Programme

Singapore Raps Banks over Fixings

The Monetary Authority of Singapore has completed its investigations into benchmark rate fixings in the island state and has released a proposed regulatory framework to govern the process going forward. As part of the process, the MAS says that 20 banks and 133 traders have been found in breach of best practice and that it has taken “supervisory actions” against institutions and individuals

US Muddies the Extraterritorial Waters

The progress of US efforts to enforce cross border regulations recently imposed by the Commodity Futures Trading Commission hit a stumbling block last week when the US House of Representatives voted to block the legislation through the passing of a Bill, H.R. 1256, the Swap Jurisdiction Certainty Act

The International Swaps and Derivatives Association (ISDA), and Sapient Global Markets, a division of financial services provider, Sapient, last week announced that four over-the-counter derivatives clearing brokers – Futures Commission Merchants (FCMs) – have confirmed their support for the Clearing Connectivity Standard (CCS) initiative to standardise reporting for cleared OTC derivatives

CLS Adds Natixis as Settlement Member

CLS Group has added Natixis as a CLS settlement member, taking the number of member financial institutions to 63

The International Swaps and Derivatives Association (ISDA) and the Futures and Options Association (FOA) have launched the ISDA/FOA Client Cleared OTC Derivatives Addendum

Interdealer broker, Tradition, has launched Volatis, a hybrid platform created to facilitate the negotiation and subsequent trading of, realised volatility futures with a variance pay-off listed and cleared on CME Group exchanges

Ritossa to Join Icap Board

Ivan Ritossa will be appointed to Icap’s board as a non-executive director, following the firms’ annual general meeting in July

Tibco Acquires StreamBase

Infrastructure software provider, Tibco, Software has acquired high performance event processing and real-time analytics software provider, StreamBase Systems

TMX Connects SuperD to Nasdaq OMX’s NLX

Financial infrastructure services provider, TMX Atrium, has connected SuperDerivatives to Nasdaq OMX’s new London-based trading venue, NLX

Deutsche Launches Autobahn Mobile

Deutsche Bank has launched Autobahn Mobile, a new initiative to make its Autobahn sales, trading and research platform available via mobile devices

There was generally positive news from Thomson Reuters last week regarding volumes at its two main spot trading businesses

Digital Vega Confirms SEF Application

Digital Vega has confirmed that the company has begun the application process to become a swap execution facility

Progress to Sell Apama

Progress Software says it has signed an agreement to see its Apama complex event processing solution to Software AG

The Standard Chartered Renminbi Globalisation Index (RGI) has recorded a new high of 925 in April, up 3.7% from 892 in March

Post-trade and risk services provider, Traiana, has expanded Harmony ClientLink’s cross-asset capabilities to include the cash equities and fixed income markets with a number of brokers

Software and IT Services provider, SunGard, in association with financial research firm, Finadium, has identified five key trends in prime brokerage technology and services that are helping to create new approaches for companies

ISDA Publishes 2013 SCSA

The International Swaps and Derivatives Association (ISDA) has published the 2013 Standard Credit Support Annex

EACH Calls for CCP Exemption

The European Association of CCP Clearing Houses (EACH) last week urged regulators to exempt central counterparties (CCPs) from the bail-in provisions of the banking recovery and resolution framework proposal

On the Move

The National Futures Association, Bank of America Merrill Lynch, The Alternative Investment Management Association, Leverate, Misys

Tech Corner

A round up of the latest technology news…

And Finally...

There is a paradox in the FX industry that is highlighted in the top two stories in /Squawkbox/ this week

Traders at some of the largest global banks have manipulated the benchmark foreign exchange rates used to set the value of investments, say five senior dealers, according a Bloomberg report

September Launch for CME Europe

CME Group will launch its new London-based derivatives exchange, CME Europe, on 9th September, subject to regulatory approval

And Another Thing…

As someone who has been a regular critic of the benchmark fixings, especially the 4PM London fix, readers may be expecting a resounding “hear, hear” following the Bloomberg report on “manipulation” of exchange rates. Well, sorry to disappoint you, but…

Cliff Lewis, head of eExchange and executive vice president of State Street Global Markets and Rodney Yoshida, CFO at State Street Global Markets, have left their roles at the company as Jeff Conway is named to lead data and analytics services for clients amid a reorganisation at the firm.