Exchanges

BISS Research’s Gary Wright explains why the fragmentation of  the CCP landscape in Europe, which is further complicated by the push for OTC derivatives onto exchanges, will cost the market more and introduce more operational burdens all while not reducing the risks expected.

Derivatives have always been synonymous with change, but the current levels of change are unprecedented. This is due to numerous impacts on market participants and organizational functions by the derivatives transformation imposed by the regulators on the financial industry. Capco's Samuel Ely discusses opinion of general themes and trends going far into the future and the ‘end game’ for derivatives clearing rather than commenting on the present environment. 

CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has named Harriet Hunnable as Managing Director, Metals Products. Hunnable, 44, will be responsible for developing and executing the company's global metals business strategy. She will be based in London and will report to Joe Raia, Managing Director, Energy and Metals Products.

CME Group, the world's leading and most diverse derivatives marketplace, today announced it set a new record for trading volumes for its energy products on Tuesday, February 7. Trading volume for energy futures and options contracts totaled 3,489,302 contracts yesterday, climbing 13 percent higher than the previous record of 3,098,129 contracts on February 22, 2010. These contracts are listed by and subject to the rules of NYMEX.

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced that ICE Futures Europe will introduce futures contracts on European Union Aviation Allowances (EUAAs) on February 27, 2012, subject to regulatory approval.

NYSE Liffe U.S., the innovative U.S. futures exchange of NYSE Euronext (NYX) today announced that Harvey Flax has been appointed to the newly created position of  Business Manager, GCF Repo IndexTM futures. Mr. Flax will be responsible for leading the launch and development of the DTCC GCF Repo IndexTM futures products trading exclusively on NYSE Liffe U.S. and cleared on NYPC. Based in New York, he will report to Lynn Martin, chief operating officer, NYSE Liffe U.S.

NYSE Euronext announced today that in light of the decision by the European Commission to prohibit its proposed combination with Deutsche Boerse, the companies are in discussions to terminate their merger agreement. 

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that ICE Clear Credit now offers portfolio margining benefits for clearing participants' proprietary positions, allowing for more efficient collateralization of opposite positions in index and correlated single-name credit default swap (CDS) instruments.

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that the benchmark ICE Brent Crude futures contract reached a new record open interest level of 1,001,286 contracts on 26 January, 2012.

Introduced in 1988, the ICE Brent Crude futures contract is the leading benchmark for light sweet crude oil, including grades in Africa, the Middle East and Asia.

On 24 January 2012, the international derivatives market Eurex Exchange exceeded five million contracts traded in the BTP derivatives segment since trading began in September 2009. The segment comprises three futures based on notional short-, medium- and long-term bonds issued by the Republic of Italy (Buoni del Tesoro Poliennali – BTP).