Posts written by Suzanne Cosgrove

Commodity Futures Trading Commission

Commodity Futures Trading Commission

The CFTC Fund Management Act passed by the Senate on Friday is expected to ease financial tensions at the agency that followed a huge whistleblower payout. The Act creates a temporary fund to operate the CFTC's whistleblower program through Oct. 1, 2022.

Hang Seng Index

Hang Seng Index

The Hang Seng Index will add three companies in June: Xinyi Solar Holdings Ltd., BYD Co. Ltd. and Country Garden Services Holdings, expanding the index to 58. The additions reflect the growing prominence of Chinese IT firms.

MIAX Mixes It Up; Looks at Futures Expansion

MIAX Mixes It Up; Looks at Futures Expansion

MIAX Futures President Joseph Ferraro talks about the May 24 launch of MIAX corporate tax futures. He also details the planned expansion of MIAX futures offerings, the role of the exchange operator’s broad geographic base and where cryptocurrency trading fits into the MIAX mix.

European Union

European Union

The European Union today fined UBS Group, Nomura Holdings and UniCredit SPA a combined total of $452 million for swapping information on European government bonds from 2007-2011. The fines followed a decade-long probe and are expected to be appealed.

ISDA 35th AGM: Are Derivatives a Green Solution?

ISDA 35th AGM: Are Derivatives a Green Solution?

Unraveling how to effectively mitigate the economic and market risks associated with climate change was the focus of an ISDA meeting session on Tuesday, but while the panel of international regulators and banking officials outlined their considerable and ongoing efforts, a clear path to a uniform solution remained elusive.

House Financial Services Committee

House Financial Services Committee

The House Committee today looks into stock market volatility related to the run-up of GameStop Corp. shares and the collapse of Archegos Capital Management. SEC Chairman Gary Gensler is expected to testify and suggest investor-protection rules may need updating.

Cboe

Cboe

Cboe Global Markets this week said it plans to launch its new European derivatives exchange in Amsterdam in September, offering futures and options on six equity indexes.

OIC 2021: What’s Next for the Options Industry? ‘Not Going to Put the Genie Back in the Bottle’

OIC 2021: What’s Next for the Options Industry? ‘Not Going to Put the Genie Back in the Bottle’

Retail participation, education of new investors, seen as ongoing industry themes in 2021.
After two days of heralding the record volume that accompanied exceptional periods of volatility in 2020, panelists in the final sessions of the Options Industry Conference generally breathed a collective sigh of relief that the industry had escaped last year’s challenges relatively unscathed. 

OIC 2021: SEC’s Lee Weighs In On 2020’s Challenges, 2021’s Regulatory Agenda

OIC 2021: SEC’s Lee Weighs In On 2020’s Challenges, 2021’s Regulatory Agenda

COVID-related issues triggered record volume and volatility in 2020 that presented challenges for exchanges and regulators, from both a market and an operational standpoint, said U.S. Securities and Exchange Commissioner Allison Herren Lee.  In a Tuesday keynote address to the 2021 Options Industry Conference conducted as an interview with John Davidson, OCC’s chief executive officer, Lee said 2020’s jump in volume and volatility “really tested our financial system.” The surge also tested trading and message infrastructures and some funds’ capital reserves, Lee said.

Matt McFarland

Matt McFarland

Miami International Holdings, the parent company of MIAX, has named former Cboe Global Markets executive Matt McFarland to the position of vice president, derivatives products and business development, at MIAX Futures.

LIBOR

LIBOR

A U.S. House Financial Services Subcommittee is weighing legislation to address uncertainties around LIBOR's pending expiration after hearing testimony last week from U.S. Treasury and other financial officials, who urged action.

World Federation of Exchanges

World Federation of Exchanges

The World Federation of Exchanges today released research on market circuit breakers used amid recent COVID-19-related volatility. Among the findings: 67% of the exchanges studied said circuit breakers were hit in March 2020 and 30% are reviewing their calibrations.

U.K. Financial Conduct Authority

U.K. Financial Conduct Authority

The FCA today said it plans to ease certain rules for SPACs after a four-week consultation period. London stakeholders have complained current U.K. regulations leave them unable to compete in the SPAC marketplace versus U.S. and EU firms.

Suzanne Cosgrove

Suzanne Cosgrove

Editor

MarketsWiki Profile

Suzanne Cosgrove is a journalist and communications professional who was formerly director of corporate communications at Cboe Global Markets. She is a contributing editor at John Lothian News.

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