Day: 21 July 2016

CFTC Issues CCP Recovery, Wind-Down Guidance

The US Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) has issued guidance to clearinghouses to further the development of recovery plans and wind-down Plans.  The CFTC says that for clearinghouses, or Derivatives Clearing Organisations (DCOs), the development of these plans is “a critical element of risk management and contingency planning to […]

HKEX Subsidiary Gets Approval for Cross Currency Swaps Clearing

OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), has received regulatory approval to clear cross currency swaps. Following the approval, granted by the Securities and Futures Commission, OTC Clear says that it expects to launch the service in August of this year, OTC Clear will initially […]

US Justice Department Brings Charges Against Two FX Traders

Mark Johnson, the head of global FX cash trading at HSBC and Stuart Scott, former head of FX cash trading for EMEA at HSBC, have been officially charged by the US Justice Department with conspiring to defraud HSBC clients by front running orders. Profit & Loss reported yesterday on the reports emerging that Johnson had […]

Mandelzis to Step Down as CEO of EBS BrokerTec

Gil Mandelzis has decided to step down from his position as CEO of EBS BrokerTec, and will be leaving the company in due course, Icap announced today.  In a statement issued today regarding this news, Michael Spencer, CEO of Icap, hails Mandelzis as “a truly outstanding leader” of the firms’ electronic market division who has […]