LCH Adds Deliverable FX to Clearing Offering

Clearinghouse LCH has announced that it has expanded its deliverable FX offering to include FX forwards, meaning members of it ForexClear service are now able to clear this product in eight currency pairs, AUDUSD, EURUSD, GBPUSD, USDJPY, USDCHF, EURJPY, EURCHF and EURGBP, with physical delivery. The product extension builds on the launch of deliverable FX options […]
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FX: A Trading or Data Business?

At the recent Forex Network Chicago conference David Mercer, CEO of LMAX Exchange Group, was interviewed by Colin Lambert about the foreign exchange and crypto market landscapes. This is an edited and abridged version of that discussion. Colin Lambert: There is a view out there that FX is no longer a trading business, how do […]
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HKEX Drops Pursuit of LSEG

Hong Kong Exchanges and Clearing Limited (HKEX) has announced that it will not make an offer for the London Stock Exchange Group plc (LSEG), despite proposing a deal to combine the companies last month worth £31.6 billion. “The board of HKEX continues to believe that a combination of LSEG and HKEX is strategically compelling and […]
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New Exchange Launches Targeting Institutional Crypto Trading

A new exchange for trading cryptoassets that is targeting the institutional and professional market segments has launched in London today. The exchange, GCEX, is part of the GC Group, which was established in 2018 in response to demand for regulated and compliant exposure to the cryptoasset market, company officials say. Authorised and regulated by the […]
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LCH Claims First with Link to FX Connect TradeNexus

Clearing house LCH has announced that it is the first clearing house to integrate with FX Connect TradeNexus, State Street’s FX trading platform that provides exception-based automated matching, trade and settlement confirmation enrichment and third party messaging. Kate Lowe, managing director, global head of TradeNexus, says, “Uncleared margin rules are changing the way the market […]
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CME to Launch Bitcoin Options

CME Group has announced plans to launch options on its bitcoin futures contracts in Q1 2020, pending regulatory review. “Based on increasing client demand and robust growth in our bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk,” says Tim […]
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LSEG Board Swats Aside HKEX Proposal, Stays Focused on Refinitiv

The board of the London Stock Exchange Group (LSEG) has unanimously rejected the unsolicited offer made earlier this week by Hong Kong Exchanges and Clearing (HKEX) to acquire the entire share capital of LSEG. “The board has fundamental concerns about the key aspects of the Conditional Proposal: strategy, deliverability, form of consideration and value,” says […]
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HKEX Bids £31.6bn for LSEG

Hong Kong Exchanges and Clearing (HKEX) has made a proposal to the board of the London Stock Exchange Group (LSEG) to combine the two companies in a deal worth £31.6 billion. This deal would scupper the proposed $27 billion deal for LSEG to buy Refinitiv. “LSEG and HKEX are two of the world’s premier market […]
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US Authorities Fine OCC

The Securities and Exchange Commission and the US Commodity Futures Trading Commission have announced that the Options Clearing Corporation (OCC) will undertake remedial efforts and pay $20 million in penalties to settle charges that it failed to implement policies to manage certain risks. According to the SEC’s and CFTC’s respective orders, Chicago-based OCC failed to establish […]
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HKEX to Launch INR Futures

Hong Kong Exchanges and Clearing (HKEX) has announced it will launch Indian rupee (INR) currency futures in the fourth quarter of this year. The exchange it plans to introduce two new contracts: the INR vs US Dollar (INR/USD) futures; and the INR vs Renminbi traded in Hong Kong (INR/CNH) futures, adding the INR/CNH Futures contract […]
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