Day: 15 March 2018

NEX Group In CME’s Sights

NEX Group has issued a statement confirming that it has received a preliminary approach from CME Group to acquire the company.
The firm says discussions are at an early stage and there can be no certainty that an offer will be made, or one is, its terms.
This publication has previously predicted such a move, however, sources familiar with the matter say this may not be the end of the story and that a competing bid could emerge for NEX, which is valued at around £2.5 billion.

Coinfloor Launches Cryptocurrency Futures Exchange

Coinfloor, a group of cryptocurrency exchanges targeting institutional and sophisticated retail traders, has launched CoinfloorEX – a cryptocurrency futures exchange.

CoinfloorEX will offer for the first time ever physically delivered cryptocurrency futures contracts, which the firm says will protect investors and traders against price slippage on positions at time of settlement, as well as allay concerns of market manipulation.

“The cash settled futures have been around since 2011 and so far they haven’t succeeded very much. When you talk to the institutional players they all want physically delivered futures,” says Mark Lamb, co-founder of Coinfloor.

And Another Thing…

It worries me we are witnessing an increasing reluctance to accept responsibility when something goes wrong in financial markets and we need to do something about it. Let’s not kid ourselves, just about every financial markets related fraud has occurred because someone, somewhere, didn’t want to take a loss. If we don’t halt this, are we breeding a generation whose first thought on incurring a loss is “who do I blame?” and second, more worryingly, is “how do I cover this up?”

South Africa Establishes FX Committee

The South African Reserve Bank has announced the establishment of the South African Foreign Exchange Committee.
The new committee reflects the make up of similar bodies elsewhere by building a forum consisting of key professionals and associations in the domestic wholesale FX market, such as Authorised Dealers, the Association of Corporate Treasurers of South Africa, the FX interdealer broker community, ACI South Africa, the Banking Association of South Africa, the Association for Savings and Investment South Africa as well as a representative of the Financial Services Board.

FIA PTG Calls for “Data-Driven” Discussion on Liquidity

As part of what it terms a continuing effort to foster a productive, data-driven discussion about the nature of liquidity and liquidity provision, FIA PTG has released a white paper entitled Liquidity in Today’s Markets that seeks to promote principles that it says are fundamental to building healthy, liquid markets.
The paper includes recommendations detailing what the association believes to be the general parameters necessary to promote liquidity, thereby establishing a basis for further discussion between market participants and regulators.

BBOD Launches Ethereum Derivatives and Spot Exchange

GMEX Technologies has announced that the Blockchain Board of Derivatives will be the latest exchange to implement the firm’s Fusion product, an integrated, centralised and distributed exchange platform solution. BBOD says it is looking to attract multiple diverse participants and provide liquidity by establishing a venue where futures and swaps on Ether and Ethereum-based tokens can be traded. The exchange is partnering with GMEX to deliver a technology solution aimed to attract both retail investors and deliver the scale and functionality to meet the needs of the institutional marketplace, it says.