Derivatives Exchanges in Turkey to Launch Bourse Istanbul in April

The Istanbul Stock Exchange is working with local gold and derivatives exchanges in April as part of a plan to make the Turkish capital a regional financial centre. Reuters reports that the merger is due to take effect in june, creating a combined entity called Bourse Istanbul. Deputy chairman of the...

OTC Derivatives to be Regulated in South Africa

According to Business Day, the South African authorities have made progress in developing and creating a system of regulation for over-the-counter (OTC) derivatives. In a report that promotes financial stability globally, obtained by Business Day, many of the details of the reforms are yet to be...

TAIFEX Partners with Eurex to Expand Taiwanese Derivatives Market

TAIFEX, a Taiwan futures exchange, has entered into a deal with Germany’s Eurex Exchange, offering Europe-based traders the ability to clear Taiwanese derivatives products. The partnership between Deutsche Börse-owned Eurex, one of the largest derivatives market, and TAIFEX through a letter of intent,...

Barnier Issues Letter to EU Lawmakers Concerning Swaps Rules

The European Union’s financial services chief, Michel Barnier, issued a letter asking EU Lawmakers to drop a threat that would block derivatives rules, stating the plan has the potential to harm the EU credibility. According to Barnier’s letter, obtained by Bloomberg News, delaying over-the counter...

High-Frequency Trading (HFT) and Central Clearing of OTC Derivatives

What will the of increasing global OTC derivatives clearing be on high-frequency trading (HFT)? As speculation mounts about the impact of centralized clearing on pensions and hedge funds, attention has naturally turned to high-frequency trading. Cleared Derivatives Geared to HFT? Even as the impact of OTC...

Basel III May Change the Way Banks Calculate Risk

The Basel Committee on Banking Supervision (Basel III) has discovered “material variation” in the methods banks have for calculating risk. As a result, regulators may begin to impose new standards of risk calculation across banks. “The preliminary work suggests we may not have the balance...

SEC’s Walter Sets Loose Agenda for 2013: Cross-Border Swaps are No. 1

New U.S. Securities and Exchange Commission head Elisse Walter set the stage for the commission’s upcoming regulatory year on Friday. Walters placed capital raising, market structure, and issues of extraterritoriality regarding cross-border swaps regulation at the top of the agenda. SEC on Cross-Border...

The Future of Derivatives Data: DTCC, CME and SDR’s

The future of derivatives data hangs in the balance as U.S. regulators deal with proposed Rule 1001, which would allow CME Group to report swaps data from its clients who have their swaps cleared with DTCC. The looming case between DTCC and CME had so far resorted to arguments about transparency. Now, DTCC...

Will High-Frequency Trading (HFT) Get the German Treatment in the U.S.?

German regulators have increased the pressure on high-frequency traders, prompting concerns from the market that the country risks damaging its financial sector. Chancellor Angela Merkel has ordered her government to rein in HFT prior to the establishment of a broader European regulatory regime. As is the...

The Other Lincoln Amendment: Will the Fed Go Soft on Derivatives?

It what is widely seen as a correction of an oversight, the U.S. Federal Reserve is debating whether to allow foreign banks to avoid expensive regulation. The issue stems from an amendment to the Dodd-Frank Act named after Blanche Lincoln, a former U.S. Senator. The Lincoln amendment “prohibits banks...
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