Colin Lambert

And Another Thing…

Because, if nothing else, this column is an information service, this will be brief and to the point – and, hopefully, informative. Are you wondering why we are seeing so many spoofing cases in the US? If you are then you’re probably thinking that the activity is out of control over there – and it […]

CFTC Fines Morgan Stanley for Reporting Failures

The US Commodity Futures Trading Commission (CFTC) has fined Morgan Stanley Capital Services $5 million for reporting failures under its obligations as a registered swap dealer – the firm is also instructed to retain a qualified outside consultant to verify its remediation of the violations of CFTC rules. The order finds that since December 31, […]

TP Icap Eyes Liquidnet Deal to Build Out Fixed Income and Credit

Inter-dealer brokerage firm TP Icap is in “advanced discussions” with equities and fixed income trading technology provider Liquidnet for between $600-700 million. The firm says the deal will bring it a buy side client base as well as opportunities to build a dealer-to-client business line. Although Liquidnet is mostly known for its equities dark trading […]

JP Morgan Fined $920 Million Related to Spoofing Charges

Two US regulators, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), along with the US Department of Justice (DoJ) have levied fines totalling $920.2 million on JP Morgan over spoofing activities conducted by former traders in precious metals futures and US Treasury cash markets. The authorities say the activities of […]

Schroders Selects SteelEye

Investment manager Schroders has selected compliance technology provider SteelEye to provide it will full visibility of its MiFID II transaction reporting workflow, including tools that help manage over or under-reporting as well as data validation errors. The system provides MiFIR eligibility checks; analytics on rejection handling from both the Approved Reporting Mechanism (ARM) and National […]

CFTC Fines Citi for Deleted Voice Recordings

The US Commodity Futures Trading Commission (CFTC) has fined three Citi affiliates $4.5 million for failing to diligently supervise their audio preservation system, which led to the deletion of almost 2.8 million audio recordings, some of which were subject to a CFTC subpoena. In an Order filing and settling the charges, CFTC says in spite […]

CFTC Nails Another Two Spoofers

In its continuing battle against spoofing, the US Commodity Futures Trading Commission (CFTC) has issued two orders filing and settling charges against Thomas Donino and his employer FNY Partners Fund, for spoofing Comex gold futures and NYMEX oil futures. In a separate action, the Commission charged Slovakians Roman Banoczay Jr., Roman Banoczay Sr., and their […]

FSB Names LEI Regulatory Body

The Financial Stability Board (FSB) has confirmed the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System as the International Governance Body (IGB) for the globally harmonised identifiers used to track OTC derivatives transactions. G20 Leaders agreed at the Pittsburgh Summit in 2009, as part of a package of reforms to strengthen the […] Launches Agency FX Service Trade UK, an FCA-regulated member of the GMO Internet Group, has announced the launch of its agency FX service, which will be offered from its Global Markets brand, which was established in late 2019. The new service offers analytics and technology solutions to ensure that users achieve the best outcome possible for pricing, […]

LCH Processes First Sonia/SOFR Cross Currency Basis Swap

LCH SwapAgent, a service for non-cleared cross currency swap markets, says it has registered its first Sonia/SOFR cross-currency basis swap. The GBP/USD basis swap was executed between LCH SwapAgent members Bank of America and Lloyds Bank Corporate Markets. The trade was completed ahead of the upcoming discounting and price alignment interest transition to USD SOFR at […]