The CFTC’s Night Game
The CFTC, and in particular its new chairman, may be playing night time hardball in the federal courts. It certainly isn’t playing the game out under the lights, though.
London Bullion Market Association
The London Bullion Market Association has removed Michael Nowak, JPMorgan’s head of precious metals trading, from its board after the US Justice Dept. indicted him for a “massive, multiyear scheme” to manipulate the precious metals markets, The Financial Times...
EBS
EBS, an electronic platform provider now owned by CME Group, announced it is launching a next-generation EBS Direct platform with enhanced capacity and speed that will deliver round trip processing times below 50 microseconds.
Deutsche Boerse Group
Deutsche Boerse is expanding its cloud strategy by signing a contract with Google Cloud to provide its cloud services for migrating material workloads to the public cloud, fully addressing regulatory requirements.
Volcker Rule
The CFTC approved a set of revisions to the Volcker Rule to allow banks more flexibility in their proprietary trading as well as to benefit the end-users of derivatives. The two Democrats on the commission voted against the approval.John Cryan
John Cryan, the former CEO of Deutsche Bank, was appointed chairman of Man Group. He will start his new role in January 2020, replacing Ian Livingston. Cryan’s appointment comes less than a week after the company’s president, Jonathan Sorrell, said he would step...
John Schwall
IEX on Thursday announced that John Schwall, IEX’s co-founder and COO, will retire from the company by the end of 2019. His responsibilities will be taken over by IEX’s existing leadership team, including Ronan Ryan, Co-Founder and President; Rob Park,...
Shanghai Gold Exchange
CME Group will launch two new Shanghai Gold futures contracts on October 14 that will connect global market participants to the Chinese physical gold market. One will be denominated in U.S. dollars and the other will be denominated in renminbi. Both contracts will be...
CFTC v Thakkar: a fishing license
Jitesh Thakkar, the Chicago computer programmer charged with aiding and abetting a market manipulation by supplying software, was back in court on Wednesday. Thakkar’s attorney, Renato Mariotti, presented his motion for summary judgment at least to forestall lengthy discovery by the CFTC.
