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 […]
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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 […]
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Deutsche Traders Guilty in Spoofing Case

Two former Deutsche Bank precious metals traders have been found guilty in a Chicago court of spoofing precious metals markets. James Vorley and Cedric Chanu were convicted of three and seven counts of wire fraud respectively, however they were cleared of conspiracy charges. Vorley, who was based in London, and Chanu, who worked in both […]
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MarketAxess Buys Deutsche Borse Regulatory Reporting

Following news that CMEW Group was shutting its regulatory reporting business in Europe and Asia earlier this year, Deutsche Borse has also signalled an exit from that market with the sale of its Regulatory reporting Hub to fixed income trading platform MarketAxess. The Regulatory Reporting Hub is a pan-European reporting and compliance platform that enables […]
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Preparedness for Ibor Transition Progressing: Survey

In news that will no doubt be music to the ears of global regulators, a new survey by Moody’s Investor Services finds that the majority of global banks, asset managers, and insurers are on track with their plans to migrate from Ibor-linked benchmark rates to alternative reference rates (ARRs) at the end of 2021, despite the disruption […]
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Survey: Financial Industry Remains Unprepared for UMR

A new State Street survey finds that although the uncleared margin rules (UMR) represent a “monumental change” in the OTC derivatives industry, a large majority of the firms remain unprepared for the compliance as well as the operational challenges associated with the new workflows. The bank says 81% of institutions with a September 2021 (Phase […]
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New Change FX Unveils FX Swap Benchmarks, Indices

New Change FX (NCFX) has launched what it says are the world’s first live streaming benchmarks for FX forwards, the calculation of which has enabled the firm to simultaneously launch a set of currency beta indices that are designed to enable structured products to be created which offer asset managers an alternative to taking FX […]
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FIA Releases Market Abuse Guidelines

The Futures Industry Association (FIA) has released new guidelines to assist market participants in fulfilling obligations set by UK and European regulators in relation to surveillance and market abuse requirements. Under the Market Abuse Regulation (MAR) and the Criminal Sanctions for Market Abuse Directive, market participants in Europe are subject to prescriptive requirements relating to […]
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SteelEye Names Friend as COO

SteelEye, the compliance technology and data analytics firm, has appointed Rob Friend as chief operating officer, effective immediately. Following Friend’s appointment SteelEye’s co-founder, David Haines will resume the role of chief technology officer. The firm says that Friend’s 24 years of financial services experience will be instrumental in scaling its business operations as it prepares to […]
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SmartStream Adds Derivatives to MiFID Solution

Reference data utility (RDU) solutions provider SmartStream Technologies has added support for derivatives in its Systematic Internaliser (SI) registry service to help clients meet the Markets in Financial Instruments Directive II (MiFID II) deadline of September 15, 2020. This allows trading counterparties to identify who is responsible for reporting trades in general, but also the most […]
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