John Lothian Newsletter: White House Asked Gensler to Stay at CFTC; Nasdaq Sees Deal Possibilities in Forex, Bonds; ISDA Plans Biggest Overhaul to Credit Derivatives Since 2003

Mar 6, 2013

Gary Gensler is asked for a second dance as head of the CFTC by the US administration; no word yet on whether he’ll accept. Nasdaq thinks they’re more likely to acquire interest in additional markets such as currencies and bonds, as a way to expand, rather than hooking up with another major exchange player. The ISDA is looking at a major overhaul of its rules of play for the global credit derivatives industry, including new rules to handle sovereign debt exchange.

First Read

DealBook: Futures Agency’s Leader Is Expected to Remain
New York Times
Gary Gensler, head of the Commodity Futures Trading Commission, is assuring officials that he plans to remain in the Obama administration through at least December even as he weighs other options, according to people briefed on the matter.
jlne.ws/YXkZBv

***** Congratulations to Chairman Gensler, and we hope that he makes the decision that’s best for himself, his family and his country.

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New Restoring Customer Confidence Video
We’re back with an update on confirmations. This new video explains the NFA and CME Group’s electronic confirmation system for futures brokers.

Restoring Customer Confidence More ideas»
Confirmations: NFA and CME’s Financial Match.com

Confirmations: NFA and CME’s Financial Match.com
MarketsWiki.tv

The fraud at Peregrine Financial Group was uncovered in July 2012 by the National Futures Association (NFA) which used an electronic bank account confirmation system. (See Confirmations: Plugging Into Electronic Confirmations)

In November 2012, the NFA and CME Group announced they would implement an electronic confirmation system for futures brokers. The system, operated by Alphametrics, provides a comprehensive check and match of what FCMs say they have in customer funds with what banks say they have.

Chris Hehmeyer, CEO of HTG Capital Partners and chairman of the NFA, says the new system will help regulators and customers assure such a fraud does not occur again.

Watch the video »

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About the Restoring Customer Confidence video series
In the aftermath of the MF Global collapse, fraud at Peregrine Financial Group and high profile high-frequency trading shocks, John Lothian News asks – how do you restore customer confidence and bring traders back? Visit the video series page on MarketsWiki.tv

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Perfect Timing
Jon “Milton” Matte – JLN
John, Jim and Patrick have completed their sortie to Washington, managing to miss the storm in both directions as they flew back and forth. Everyone landed safely in Chicago last night; mission accomplished etc etc, minus the bulging jumpsuit. No reports of vampires or werewolves. Good video was achieved, and we’ll have fresh interviews for you in short order.

Along with those interviews, we’re happy to report that Walt Lukken of the FIA has agreed to become one of our John Lothian Newsletter guest editors, providing comments while John is in rehab… sorry, I mean “while John is rehabilitating his knees after his surgery.” Steve Grob of Fidessa has also agreed to be a guest editor. We’ll be announcing more people soon.

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SEC Publishes ISE’s Form 1 Application for a Second Options Exchange
International Securities Exchange Holdings, Inc. announced that the U.S. Securities and Exchange Commission has published for comment a Form 1 application for ISE’s second options exchange. The new options Exchange is anticipated to be launched in Q2 2013, pending SEC approval.
jlne.ws/YXkZBr

***** By the time the ISE gets their second options exchange running, having a THIRD options exchange will be all the rage.

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What is the future of trend following CTAs and futures funds?
Steven Michael – FOW
The managed futures industry has enjoyed a very good record of average annual returns (over 11% per year) while weathering only six down years in the last thirty two years. However, it has been a dismal year for trend following CTAs and a time where the industry experienced some notable firsts. The Newedge CTA Trend Sub-index has seen two consecutive down years for the first time in its history.
jlne.ws/YXkXJN

***** Methinks the trendless doth protest too much.

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CME Group Announces Trading Volume Records for U.S. Hot-Rolled Coil Steel Futures and Options
CME Group, the world’s leading and most diverse derivatives marketplace, announced it reached monthly trading volume records for its NYMEX U.S. Midwest Domestic Hot-Rolled Coil Steel Index futures (HRC) and options (HRO) contracts in February. These contracts are listed by and subject to the rules of NYMEX.
jlne.ws/YXkZBt

***** It’s not a record, it’s a laser-etched digital high mark!

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CBOE And C2 Plan To Launch Mini-Options On March 18 For AAPL, AMZN, GOOG, GLD And SPY
CBOE Holdings, Inc. announced today that Chicago Board Options Exchange, Incorporated and C2 Options Exchange plan to launch trading in “mini-options” that are one-tenth the size of standard options on five popular stocks and exchange traded funds.
jlne.ws/YXkXJS

***** This will be a success for bringing more retail traders into high value stocks and products.

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FBI joins SEC in computer trading probe
Kara Scannell in New York – FT.com
The FBI has joined securities regulators to tackle the potential threat of market manipulation posed by sophisticated computer trading strategies that have taken markets beyond the scope of traditional policing. FBI agents have joined forces with a new unit within the Securities and Exchange Commission that examines hedge funds and other firms that are using algorithm trading strategies.
jlne.ws/YXkXJX

***** With the FBI and SEC together, now all we need is for the CIA and Congress to pitch in and help, too.

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Rates specialists face regulatory headwinds
Matt Turner – Financial News
A little-noticed data point at JP Morgan’s annual investor day last week could provide a clue to the impact of market structure regulations on investment banking revenues, according to analysts – and it potentially spells bad news for a trio of rates specialists.
jlne.ws/YXkXJY

***** Uh… uh huh?

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Prudential Regulation Authority appoints founding board
Richard Partington – Financial News
The Bank of England has appointed three City of London veterans to the founding board of the Prudential Regulation Authority, which is due to take control of financial supervision following the abolition of the Financial Services Authority next month.
jlne.ws/YXkXJZ

***** Now batting for #32…

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Census Report Finds More Americans Working Remotely
NEIL SHAH – WSJ.com
More American employees are working from home at least one day a week—a trend that could lower companies’ costs and boost productivity. Some 13.4 million people, or 9.4% of U.S. workers, labored at least one day at home per week in 2010, compared with 9.2 million people, or 7% of U.S. workers in 1997, according to one Census Bureau report released Tuesday.
jlne.ws/YXkY0e

***** We were going to “do a Yahoo!” and make Jon Matte work at the office, but then we figured out we’d all have to move with the office to arctic Norway, so never mind.

***JM: I almost convinced them with the “Land of the Midnight Sun” summertime; but then they figured out the part about “Land of Midnight” in the winter and that was the end of that.

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Behind the $1,000 Apps
MATTHEW LYNLEY – WSJ.com
Not all apps are free or 99 cents. A handful of developers are pricing their apps at $999.99—the upper limit of Apple Inc.’s store. These apps aim to serve a wide range of specialized markets, in some cases targeting professionals such as piano tuners and anesthetists. Other developers seek to appeal to consumers willing to pay up, such as law students preparing for the bar exam or flag-football enthusiasts tracking their statistics.
jlne.ws/YXkZRP

***** So much for the mass market.

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MarketsWiki

MarketsWiki Page of the Day
Sir Paul Ruddock
jlne.ws/WMjgTt

MarketsWiki Recent Updates

People

Paul Ruddock; Christopher K. Hehmeyer; Sir Tom McKillop

Companies, Organizations and Groups

Minneapolis Grain Exchange, Inc.; National Futures Association; HTG Capital Partners, LLC; Alphametrix

Products

LIFFE CONNECT

Miscellaneous

Side by side; Silver

Statistics

36,026,231 pages viewed, 7,424 articles, 155,780 edits
MarketsWiki Statistics

Lead Stories

White House Asked Gensler to Stay at CFTC
SCOTT PATTERSON And JAMILA TRINDLE – WSJ.com
The Obama administration has asked Gary Gensler to serve a second term as the U.S.’s top futures-industry regulator, according to people familiar with the matter. The question now is whether Mr. Gensler will say yes.
jlne.ws/YxxCUw

Nasdaq Sees Deal Possibilities in Forex, Bonds
JACOB BUNGE – Dow Jones
Nasdaq OMX Group Inc. sees foreign exchange and fixed-income businesses as more likely targets for expansion via acquisitions than partnering with another big exchange operator, a senior executive said Tuesday.
jlne.ws/YXkZRT

ISDA Plans Biggest Overhaul to Credit Derivatives Since 2003
Abigail Moses – Bloomberg
The International Swaps & Derivatives Association is planning the biggest overhaul of the $24 trillion credit derivatives market since 2003. New York-based ISDA is seeking feedback from market participants on a set of possible changes to the standards governing credit-default swaps, including plans to ease settlement of contracts triggered by a sovereign debt exchange, according to Mark New, the organization’s assistant general counsel in the Americas.
jlne.ws/VAmRC6

Malaysia Studying Regional Rubber Contract to Challenge Tokyo
Bloomberg
Malaysia is studying a rubber futures contract to compete with Tokyo as a benchmark, the head of the country’s derivatives exchange said.
jlne.ws/YXkZS3

Swiss Exchange launches structured funds market
Suzi Ring – Financial News
The Six Swiss Exchange has launched a new platform for trading investment funds as the bourse continues with its push to diversify into new products amid increasing competition in its traditional market. The new sponsored funds platform, which has been launched with the support of Swiss private bank Julius Baer, will allow investors to trade investment funds covering a range of asset classes, including bonds and equities, on the exchange for the first time.
jlne.ws/YXkZS6

Semark in line to run UBS ‘dark pool’
Philip Stafford – FT.com
Richard Semark is being lined up to take over as the new chief executive of UBS MTF, one of Europe’s largest dark pools, according to two people familiar with the situation.
jlne.ws/YXl0VU

Hedge funds bristle as EU lawmakers eye new pay target
Reuters via Yahoo! Finance
Hedge fund managers could be next in line after bankers to see further restrictions on their pay if European lawmakers follow through on promises to target the sector’s lucrative payouts.
jlne.ws/YXl0VY

No more big banker bonuses? Europe set to crack down.
The Christian Science Monitor
Europe’s financial ministers are expected to approve new rules today that would cap bankers’ bonuses at two years’ salary – a move unthinkable in the years before the Lehman collapse.
jlne.ws/YXl0VZ

European bonus caps won’t see the light of day
CNN Money
Proposed limits on banker bonuses would cause the slow death of what continues to be, despite over regulation and higher taxes, a very profitable industry for Europe.
jlne.ws/YXl0W2

Hackers Hit Czech Central Bank, Stock Exchange, Commercial Banks
Dow Jones
Hackers attacked the websites of the Czech central bank, the Prague Stock Exchange and several major Czech banks early Wednesday, overloading servers with thousands of requests and rendering them inaccessible.
jlne.ws/YXl08r

Questions loom over Kay investor forum
Sarah Krouse – Financial News
The creation of an investor forum, a concept endorsed at face value by a number of fund managers and trade bodies following Professor John Kay’s 2012 review of the UK equity market, is proving difficult to execute.
jlne.ws/YXl0W8

Regulatory

Non-US swap dealers should start engaging now if they want to use home-country rules, CFTC says
Automated Trader
Gary Gensler, chairman of the Commodity Futures Trading Commission, called on non-US swap dealers to start engaging with the CFTC and home-country regulators now if they wish to use “substituted compliance” to meet Dodd-Frank requirements.
jlne.ws/YXl08s

State regulators urge Congress to probe high-frequency trading
Reuters via Yahoo! News
State securities regulators on Tuesday urged Congress to investigate the practice of using powerful computers to trade rapidly large volumes of securities. The practice, known as high-frequency trading, can put retail investors at a disadvantage since they generally do not have access to the same information and often buy and sell at less favorable prices, according to the North American Securities Administrators Association (NASAA).
jlne.ws/YXl1ct

FSA Mostly Clears Itself Over Missed Libor Manipulation Warnings
Bloomberg
The U.K. Financial Services Authority said a review of its handling of the investigation of Libor manipulation found no failures on the scale of previous scandals involving its oversight of Northern Rock Plc or Royal Bank of Scotland Group Plc.
jlne.ws/YXl1cu

Banks in Libor Antitrust Case Say Rate Isn’t Competitive
Bloomberg
Lawyers for Bank of America Corp. , JPMorgan Chase & Co. and other financial institutions fighting antitrust claims over the London interbank offered rate told a federal judge that setting the rate isn’t a competitive process.
jlne.ws/YXl08y

CFTC Chairman Gary Gensler And Commissioner Scott O’Malia To Testify Before The U.S. House Of Representatives Committee On Appropriations, Subcommittee On Agriculture, Rural Development, Food And Drug Administration, And Related Agencies
jlne.ws/YXl08z

Canadian Securities Regulators Stress being Proactive is Key in Preventing Investor Fraud
jlne.ws/YXl1cC

Keynote Speech At The 7th Gulf Cooperation Council Regulators’ Summit By SEC Commissioner Daniel M. Gallagher
jlne.ws/YXl08A

SIFMA Submits Comments On FINRA’s Recruitment Compensation – Disclosure Proposal
jlne.ws/YXl0oR

Exchanges & Trading Facilities

CME Group not focused on M&A, executive says
Chicago Tribune
CME Group Inc is inclined to grow by building its own businesses rather than by buying other exchanges, a top executive said on Tuesday, after a report the largest U.S. futures exchanges operator had considered a merger.
jlne.ws/YXl0oU

Weary Grain Traders to Get a Break
IAN BERRY, JACOB BUNGE AND ANDREW JOHNSON JR. – WSJ.com
Commodities broker Mike North has been logging longer days since CME Group Inc. expanded its grain-trading hours to nearly round-the-clock last year. The 38-year-old father of four has missed dinners, gymnastics practices and other events.
jlne.ws/YXl1sZ

MGEX Announces New Trading Hours
MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced new trading hours for futures and options contracts in the Hard Red Spring Wheat (HRSW) and Index contracts beginning with the Monday, April 8, 2013 trade date, pending CFTC review.
jlne.ws/YXl0oX

NASDAQ OMX February 2013 Volumes
jlne.ws/YXl0oY

BOX Price Improvement Activity for February
In the month of February, price improved contracts on BOX Options Exchange averaged 203,395 per day.
jlne.ws/YXl0p3

NZX February 2013 Shareholder Metrics
jlne.ws/YXl1t9

Borsa Italiana Monthly Update – February 2013
jlne.ws/YXl0p9

EEX Is Awarded Contract For The Permanent German Auction Platform
The European Energy Exchange (EEX) has won the tender for the permanent auctioning platform on behalf of the Federal Republic of Germany. This means that EEX – in cooperation with Eurex Exchange – will conduct auctions of general EU allowances (EUA) and EU aviation allowances (EUAA) for the next three years with the possibility of extension for a further two years.
jlne.ws/YXl0Fs

Madrid Stock Exchange Investor Ombudsman Report For 2012 – The Number Of Claims Handled Increase By 50%
jlne.ws/YXl0Fx

Operational Details for Mini-Options Trading on CBOE
jlne.ws/YXl1Jx

TMX Group Top 20 Largest Consolidated Short Position Report – February 28, 2013
jlne.ws/YXl1JB

MIAX Options – Daylight Savings Time 2013
jlne.ws/YXl1JG

Hedge Funds & Managed Futures

Traders Flee Asia Hedge Funds as Haven Becomes Dead End
Bloomberg
Paul Smith moved from London to Hong Kong to work in Asia’s hedge-fund industry almost 17 years ago, and he rode the boom to its peak. Last year, like other industry veterans, he quit.
jlne.ws/YXl1JH

Ray Dalio keeps hedge fund crown
Harriet Agnew – Financial News
Ray Dalio, founder of Bridgewater Associates, has retained his crown as the world’s most successful hedge fund manager, according to an annual ranking by one of the longest-standing investors in the sector.
jlne.ws/YXl1JJ

Paulson’s Gold Fund Limps Forward
CNBC
John Paulson’s gold fund fell more than 10 percent for the first two months of this year, said people familiar with the numbers.
jlne.ws/YXl3B4

Perfecting the alternatives mix
Christine Senior – Financial News
Investing in alternatives – the likes of hedge funds, private equity, property and infrastructure – isn’t really “alternative” anymore; it has become an essential part of running a diversified portfolio
jlne.ws/YXl200

Even a subpar Sage is pure genius
John Kay – FT.com
Has the Sage of Omaha, now 82, lost his touch? In his annual letter to the stockholders of Berkshire Hathaway published last week, Warren Buffett admitted a “subpar” performance in 2012. He acknowledged that his next annual letter may show that, for the first time, his fund had underperformed the S&P index over a five-year period.
jlne.ws/YXl206

Hetco Hires Ex-Tudor Quant Research Head Lopez de Prado
Bloomberg
Hess Energy Trading Co. hired Marcos Lopez de Prado, former head of global quantitative research at hedge fund Tudor Investment Corp.
jlne.ws/YXl20b

Copper Market Prepares for a Flood
TATYANA SHUMSKY – WSJ.com
The copper market is bracing for a wave of new mine openings this year. Copper prices recently fell to three-month lows as investors and traders anticipate an onslaught of supplies, estimated to be the biggest increase in global copper mine output in 13 years.
jlne.ws/YXl3B9

The Fabulous Life Of Stanley Druckenmiller — The Hedge Funder Who Says Old People Are Robbing Young People Blind
Business Insider
Media-shy billionaire hedge fund manager Stanley Druckenmiller made headlines last Friday when he spoke with Bloomberg TV’s Stephanie Ruhle about a “storm” he sees coming.
jlne.ws/YXl3Bb

Ikos Co-Founder Coward Sues Ex-Wife Over Hedge-Fund Software
Bloomberg
Martin Coward, the co-founder of Ikos Asset Management Ltd., sued his estranged wife, Elena Ambrosiadou, in a U.K. court over the copyright ownership of computer software that runs the hedge fund’s trading platform.
jlne.ws/YXl3Be

Top 5 Hedge Fund Managers in the Forbes 400
Forbes
George Soros: $22 billion. The legendary investor is among the Forbes 400 Top 10 for first time. He announced this year that he is returning money to outside investors and create a family office to manage his own cash.
jlne.ws/YXl2gw

Angel Oak’s Friedlander Named a 2013 Rising Star of Mutual Funds
Business Wire via Yahoo! Finance
Angel Oak Capital today announced that Brad Friedlander, Head Portfolio Manager of the Angel Oak Multi-Strategy Income Fund, was named one of the 2013 Rising Stars of Mutual Funds
jlne.ws/YXl2gz

Banks & Brokers

ICAP Electronic Broking: February 2013 Volumes
jlne.ws/YXl2gD

Mid-cap brokers continue their battle
Giles Turner and Richard Partington – Financial News
The small and mid-cap broking sector of London has the air of a much-depleted platoon after a prolonged conflict: littered with casualties but held together by a few battle-hardened survivors.
jlne.ws/YXl2gH

Credit Suisse’s Vasan to Run Private Bank in Americas
Dow Jones
Credit Suisse is shuffling its management ranks in the U.S., as Philip Vasan, the head of one the firm’s fastest-growing units, will move to run the firm’s private bank division in the Americas, according to an internal memo reviewed by The Wall Street Journal.
jlne.ws/YXl3RG

Scotiabank Q1 Results Top Estimates, Backs 2013 Outlook; Boosts Dividend
RTT News
Canadian financial services provider Bank of Nova Scotia reported Tuesday a profit for the first quarter that increased 12 percent, reflecting strong revenue growth across businesses and geographies. Both adjusted earnings per share and quarterly revenues topped analysts’ expectations. The bank also provided earnings growth guidance for fiscal 2013, declared a higher quarterly dividend.
jlne.ws/YXl3RH

E*Trade Exec Behind Talking Baby Leaves
Wall Street Journal Blogs
E*Trade Financial Corp.’s marketing chief has departed the online brokerage, leaving the company’s talking-baby spokesman without one of its creators.
jlne.ws/YXl3RM

Goldman Sachs Brazil Investment Banking Chairman Daniel Wainstein Leaving Firm -Bloomberg
Dow Jones
Goldman Sachs Group Inc.’s ( GS ) Brazil investment banking chairman Daniel Wainstein is leaving the firm, Bloomberg News reported Tuesday, citing a person with direct knowledge of the matter.
jlne.ws/YXl484

Citigroup’s Corbat May Exit Some Countries Amid Cost Cuts
Bloomberg
Citigroup Inc. , the third-biggest U.S. bank, may exit or pull back from businesses in 21 countries that are among its least-efficient markets as Chief Executive Officer Michael Corbat seeks to cut costs.
jlne.ws/YXl488

Deutsche Bank Is Top Currency Trader, Greenwich Associates Says
Bloomberg
Frankfurt-based Deutsche, Germany’s largest bank, had a 10.7 percent share of the foreign-exchange market, according to a survey conducted between September and November 2012. It was followed by Citigroup at 10.1 percent, UBS at 10 percent and Barclays at 9.7 percent, a statistical tie, Greenwich Associates said.
jlne.ws/YXl48b

JPMorgan Expanding Argentine Business After Barclays Leaves
Bloomberg
JPMorgan Chase & Co. is expanding its business in Argentina as the country remains a “key” market in the region, the bank’s senior country officer said.
jlne.ws/YXl2x4

JPMorgan resolves gripe over MF Global payout plan
Reuters via Yahoo! News
NEW YORK – MF Global and its creditors have resolved a dispute with JPMorgan Chase & Co over the value of intercompany claims within the bankrupt brokerage’s estate, eliminating what could have been a sticking point in effecting MF Global’s creditor repayment plan. The effect of the settlement, a result of court-ordered mediation, is essentially to enhance JPMorgan’s recovery …
jlne.ws/YXl2x9

Morgan Stanley Hires Merrill’s Randazzo as Head of Technology for Brokerage Unit
Dow Jones
Morgan Stanley has hired Chris Randazzo from Bank of America Corp.’s Merrill Lynch unit to head technology for its wealth and investment management business, the firm’s latest step to bolster the computer systems for its brokerage joint venture following a series of glitches last year.
jlne.ws/YXl2xc

Morgan Stanley Leads Busiest Day for Bank Bonds in 2 Months
Bloomberg
Morgan Stanley led the busiest day for bank bond issuance in Europe in almost two months as lenders took advantage of borrowing costs that remain near the lowest in five years.
jlne.ws/YXl2xd

HSBC sells US consumer, homeowner loans for $3.2B
Associated Press via Yahoo! News
HSBC, Europe’s largest bank, is selling two portfolios containing U.S. consumer and homeowner loans for about $3.2 billion in cash as it looks to minimize its exposure in the country.
jlne.ws/YXl2Nu

Tullett Prebon CEO Says No Evidence Employees Helped Rig Libor
Gavin Finch – Bloomberg
Tullett Prebon Plc (TLPR) Chief Executive Officer Terry Smith said the interdealer broker has found no indications that employees were involved in rigging global benchmark interest rates.
jlne.ws/YXl2Nx

Clearing & Settlement

Eurex Clearing offers new “Omnibus Model” segregation service for the UK market
Eurex Clearing, Europe’s leading clearing house, further expands its suite of segregation services and offers a UK CASS compliant Omnibus Clearing Model as an additional alternative. The new service complements the existing models – the Individual Clearing Model (ICM) and the Elementary Clearing Model (ECM).
jlne.ws/YXl2NC

Major Dealers Now Reporting Trades For Five Major OTC Derivatives Asset Classes To DTCC’s Swaps Data Repository
First And Only Data Repository To Offer Reporting For All Five OTC Derivatives Asset Classes
jlne.ws/YXl4oK

South Korean Government Approves Central Clearing
WatersTechnology
The South Korean Financial Services Commission (FSC) has announced that central counterparty clearing houses (CCPs) will be mandated for certain over-the-counter (OTC) derivatives transactions.
jlne.ws/YXl2NF

Omgeo partners with Enfusion to automate ETD post-trade processes
Omgeo has announced a business partnership with Enfusion, a provider of hosted portfolio management solutions for hedge funds and alternative investment firm. The partnership plans to offer clients a joint solution connecting Enfusion’s platform, Integráta, with Omgeo Central Trade Manager (Omgeo CTM). Omgeo CTM is a strategic platform for the central matching of domestic and cross-border exchange-traded derivatives (ETDs), contracts for difference, equities and fixed income transactions.
jlne.ws/YXl2NJ

Buy-side chooses LCH.Clearnet ahead of US regulatory deadline
LCH.Clearnet Limited, the multi-national clearing house, today announced it has cleared over $22 trillion notional of interest rate derivatives through its SwapClear service for buy-side clients. Activity has intensified in the run up to the Dodd-Frank mandatory clearing deadline, which comes into effect on March 11.
jlne.ws/YXl2NM

Indexes & Products

Changes to MDAX, SDAX and TecDAX
jlne.ws/YXl347

A2 Corporation Limited To Be Added To NZX 50 Index
jlne.ws/YXl34b

Technology

Numerix Introduces CrossAsset Server: Analytics Engine for Real-Time Derivatives Valuation, Market Risk & Counterparty Risk Calculations
Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced its latest innovation – Numerix CrossAsset Server.
jlne.ws/168ffKb

MarketPrizm Enables Growth Of Low-Latency Trading After Connecting To ASX Liquidity Centre
MarketPrizm, a leading provider of market data and low latency trading infrastructure services, has continued to expand its regional footprint following the setup of fully-managed network and data services at the Australian Securities Exchange’s (ASX) Australian Liquidity Centre (ASX ALC) in 2012.
jlne.ws/YXl4Fj

Watch Your Tone — Bloomberg Vault Now Archives Voice Too
Forbes
Bloomberg has combined its cloud-based storage and management for written enterprise communications with Orange Trading Solutions? voice recording expertise. The combination enables the integration of voice data into Bloomberg Vault to produce electronic records in near real-time, and it will work with any existing trading floor recording system.
jlne.ws/YXl4Fp

Enforcement

Mark Cuban fails to end SEC insider trading lawsuit
Reuters via Yahoo! Sports
Mark Cuban, the billionaire owner of the National Basketball Association’s Dallas Mavericks, on Tuesday lost a bid to throw out a U.S. regulator’s civil fraud lawsuit accusing him of insider trading in a 2004 stock sale.
jlne.ws/YXl4VC

Mike Miller a part of SEC lawsuit accusing Sioux Falls man of investment fraud
KSFY Sioux Falls
South Dakota native and Miami Heat player Mike Miller is part of a Security and Exchange Commission lawsuit against a Sioux Falls man and his East Coast business partner accused of operating a fraudulent investment company.
jlne.ws/YXl4VF

[ASIC] Former Astarra investment manager permanently banned from financial services industry
jlne.ws/YXl3kx

Environmental & Energy

Does Keystone XL report let Obama off the hook on climate pledge?
Christian Science Monitor
A US State Department report released late last week that was noncommittal on the environmental impact of the proposed Keystone XL pipeline is galvanizing opponents of the controversial project who say President Obama is backing away from his commitment to combat climate change.
jlne.ws/Z8uMGE

Obama’s ‘All of the Above’ Energy and Environment Nominees
The New York Times Dot Earth blog
President Obama’s choices for his next energy secretary and Environmental Protection Agency administrator are, like so many of his actions, unsurprising and practical.
jlne.ws/12sdkkL

Will Canada’s Proposed Tar Sands Oil Pipeline Muck Up Its Pacific Coast?
Scientific American
As controversy continues around the Keystone XL Pipeline that would snake through the U.S., a similar drama plays out north of the border. Canadian officials are deciding whether to green-light a pipeline that would carry a semiliquid hydrocarbon mix for 1,172 kilometers from Alberta’s tar sands over the Canadian Rockies to the Pacific coast of British Columbia. Near its proposed terminus, the proposal has met with public outcry and fierce opposition from the Coastal First Nations, a coalition of indigenous tribes.
jlne.ws/13F3RGv

Asia-Pacific

Hong Kong is no longer such a haven for Western hedge fund managers and bankers
Quartz via Yahoo! Finance
As recently as last November, the Hong Kong government was fretting (paywall) about a crisis-level shortage of private school places, as the territory continued filling up with expat bankers and hedge fund managers.
jlne.ws/YXl4VS

China Is a ‘Huge, Huge Trade’: FTSE CEO
CNBC
Demand for financial products linked to China is on the rise and efforts by the world’s second largest economy to further open its capital markets will add to their lure, said Mark Makepeace, CEO of global index provider FTSE Group.
jlne.ws/YXl5ca

[TSE] ETF/ETN Monthly Report for Feb 2013
jlne.ws/YXl3kF

Summary Of February 2013 Activities At Tokyo Commodity Exchange
The Tokyo Commodity Exchange (TOCOM) announced today that February 2013 trading volume averaged 160,704 contracts per day, up 15.8% from January 2013. Average daily volume for the precious metals, oil and rubber markets was 157,715 contracts. The agricultural product and sugar market, which opened for business on February 12, saw an average of 4,368 contracts traded.
jlne.ws/YXl3kJ

TSE: TOPIX index futures trading hits a record high today
As of today, the trading volume of TOPIX index futures reached a record high of 643,443 contracts.
jlne.ws/YXl5ci

SGX welcomes KGI Capital as first derivatives clearing member from Taiwan
jlne.ws/XSzZSJ

Thailand Futures Exchange Launches Intensive Training Program
jlne.ws/YXl3kM

Shanghai Securities News: Real Estate Control, Capital Repurchase Trigger Panic Slump: Insiders Point Out Exaggerated Reading Of Relevant Information
jlne.ws/YXl5co

Tokyo Stock Exchange: ETF/ETN Monthly Report For February 2013 – Continued Market Vibrancy Pushes Average Daily Trading Value Past JPY 30 Billion
jlne.ws/YXl5cp

Shanghai Stock Exchange And CSI Dividend Return Index To Be Launched
To further enhance the index family as well as to provide new analysis tools and underlying instruments for investors, SSE and CSI today announced that SSE Dividend Return Index and CSI Dividend Return Index to be launched on Mar 27, 2013. Regarding the methodology and more details of the above indices, please refer to the official website of SSE (www.sse.com.cn) and CSI (www.csindex.com.cn).
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Monetary Authority Of Singapore Consults On Recommendations Of The Financial Advisory Industry Review
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Shanghai Stock Exchange And CSI Culture Industries Index, CSI Services Industry Index To Be Launched
Designed to serve as new benchmarks and investable underlyings for investors, today SSE and CSI announced the upcoming launch of SSE Culture Industries Index, CSI Culture Industries Index and CSI Services Industry Index on Mar 26th 2013. Regarding the methodologies and more details about the above indices, please refer to attached.
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Frontier Markets

DGCX Sets Second Consecutive Monthly Volume Record In 2013
The Dubai Gold and Commodities Exchange (DGCX) built on its robust start to the year, setting another monthly volume record of 1,157,340 contracts, valued at $44.16 billion, in February. The month also saw the highest ever average daily value of contracts of $2.21 billion per day.
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Citigroup Said to Stop Submissions for Two Key Rates in Malaysia
Bloomberg
Citigroup Inc. , the third-largest U.S. bank, stopped contributing to two benchmark rates set in Malaysia , two people with knowledge of the matter said.
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Malawi Stock Exchange Monthly Performance Report – February 2013
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Palestine Exchange (PEX) Monthly Newsletter
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