Deutsche Boerse-LSEG merger in regulators' hands | Singaporean traders get direct access to CBOE volatility futures | Traders ask SEC to review auctions in options market
August 18, 2016
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Deutsche Boerse-LSEG merger in regulators' hands
Deutsche Boerse and London Stock Exchange Group are turning their attention to securing approval for their proposed merger from dozens of regulatory bodies around the globe. The shift comes after more than 89% of Deutsche Boerse shareholders voted to approve the merger.
The Telegraph (London) (tiered subscription model) (8/17),  The Wall Street Journal (tiered subscription model) (8/17),  The Business Times (Singapore) (free content)/Agence France-Presse (8/17),  SNL Financial (free content) (8/17) 
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Singaporean traders get direct access to CBOE volatility futures
The Monetary Authority of Singapore is letting domestic companies trade on the CBOE Futures Exchange, which hosts futures on the CBOE Volatility Index and other volatility indexes. "Singapore is the gateway to the Asian investment community, and the country has worked to establish itself as a key futures trading hub," CBOE's Andy Lowenthal said.
The Trade (UK) (8/17) 
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Regulatory Roundup
Traders ask SEC to review auctions in options market
The introduction of auctions to the options market has resulted in sluggish growth during the past five years, and traders have called on the Securities and Exchange Commission to tackle the issue. "Corrective steps need to be taken to safeguard the high level of competitiveness that has served the options market for over 40 years very well," according to a letter from a group of market makers.
Bloomberg (8/17) 
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IEX could have role on committee guiding SEC audit trail
An industry panel overseeing the Securities and Exchange Commission's creation of a consolidated audit trail has nominated IEX Group to a committee that helps decide which entity builds the trail. IEX, which launches Friday as a full-fledged exchange, will be the first exchange with a speed bump aimed at reducing the effect of high-frequency trading, although other exchanges are evaluating the concept.
MLex (subscription required) (8/16) 
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Virtu, Citadel want more transparency for Treasurys
The Securities and Exchange Commission has asked for comment on a proposal from the Financial Industry Regulatory Authority requiring members to disclose US Treasury trades. Companies such as Virtu Financial and Citadel say deals should be even more transparent, suggesting public release of data and release of information on market participants beyond FINRA members.
Bloomberg (8/17) 
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Industry Developments
Q2 report on FCM performance
Seventy registered futures commission merchants existed in the second quarter, down from a peak of 190 in 2004. Goldman Sachs was the leading FCM, and swaps had the most clearing growth.
Clarus Financial Technology (8/17) 
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Financial Technology
Amateur algo traders could become force to be reckoned with
Hedge fund managers could see their business models challenged due to the rise of amateur algorithmic traders, such as Dan Houghton of London, analysts say.
Financial Times (tiered subscription model) (8/16) 
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Commodities and Managed Futures
Concern grows in cattle-futures market
Traders have dubbed the cattle-futures market "the meat casino" because of fluctuation. The turmoil has raised concern among producers and has led CME Group to introduce steps to enhance its cattle market.
The Wall Street Journal (tiered subscription model) (8/17) 
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Coal prices rally
Coal has emerged as one of the hottest commodities of 2016, less than a year after the industry was said to be dying. "Coal markets, after five years of declining prices, appear to have found a bottom in the first quarter," according to Australia's Whitehaven Coal.
Reuters (8/17) 
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FIA News
Tee off with the FIA Operations Americas division
Join the FIA Operations Americas division at its 12th Annual Golf Outing for Chicago on Sept. 26. The outing will benefit the scholarship fund for children of division members. In addition, part of the proceeds raised from the event will help fund other activities and general operating expenses of FIA Operations Americas. Practice your swing on the fairway. Register today.
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