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April 13, 2012
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  Top Stories 
  • Giddens says he may seek claims against MF Global execs
    James Giddens, the trustee unwinding MF Global Holdings' brokerage operations, said he might go after former CEO Jon Corzine and other executives at the failed firm. Giddens said he might pursue claims for "among other things, breach of fiduciary duties owed to both [the MF Global brokerage] and its customers, and violations of the segregation requirements of the Commodity Exchange Act." The Wall Street Journal/Deal Journal blog (4/12), Reuters (4/12) LinkedInFacebookTwitterEmail this Story
  • ICE to challenge CME by launching grain futures
    IntercontinentalExchange says it plans to launch futures and options on wheat, corn, soybeans, soybean oil and soybean meal. The move would ramp up ICE's rivalry with CME Group. Ben Jackson, ICE's chief operating officer, said the grain contracts will be driven by large commercial traders who face regulatory changes. Financial Times (tiered subscription model) (4/12), The Wall Street Journal (4/12), Reuters (4/12) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • Energy regulators take aim at market manipulation
    Energy-market regulators are taking aim at the gray area between cash markets for commodities and the swaps and futures tied to those prices. Many companies trade in both markets in an effort to hedge their positions, but regulators are concerned that some traders might manipulate one market and profit from another as a result. Reuters (4/12) LinkedInFacebookTwitterEmail this Story
  • Nasdaq asks SEC to let ETF issuers pay market-makers
    Nasdaq OMX Group is seeking approval from the Securities and Exchange Commission to allow companies issuing exchange-traded funds to incentivize market-makers to more aggressively quote shares. Nasdaq told the U.S. regulator that the practice would bolster trading in less-liquid ETFs. The SEC previously rejected such requests. Bloomberg Businessweek (4/12) LinkedInFacebookTwitterEmail this Story
  • Futures brokerage settles regulatory claims
    The Commodity Futures Trading Commission says Rosenthal Collins Group has agreed to a $2.5 million settlement over allegations that the futures brokerage failed to "diligently supervise" a customer's account used to run a Ponzi scheme. "Even if [a futures commission merchant] does not knowingly assist in a Ponzi scheme conducted by an account holder, an FCM cannot ignore questionable transactions that stand out as red flags of fraudulent conduct," the CFTC's David Meister said in a statement. Reuters (4/12) LinkedInFacebookTwitterEmail this Story
  • Australian regulator scrutinizes synthetic and physical ETFs
    The Australian Securities and Investment Commission is looking into synthetic and physical exchange-traded funds as concerns mount about issues such as counterparty risk. Greg Tanzer, an ASIC member, said the regulator is working with the International Organization of Securities Commissions to develop standards for ETFs. FinancialCAD (Canada) (4/11) LinkedInFacebookTwitterEmail this Story
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  Industry Developments 
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  Electronic Trading News 
  • Able Alpha Trading's Aldridge discusses high-frequency trading
    The Commodity Futures Trading Commission and the Securities and Exchange Commission are ramping up scrutiny of high-frequency trading. The CFTC has established a subcommittee to look into the practice. Irene Aldridge of Able Alpha Trading is a member of the HFT committee as well as the author of "High Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems." In this interview, Aldridge discusses some of the concerns and questions about HFT. Institutional Investor online (4/12) LinkedInFacebookTwitterEmail this Story
  Commodities and Managed Futures 
  • CME to roll out cleared swaps for liquefied natural gas
    CME Group is preparing to offer a cleared derivatives contract for liquefied natural gas, the first of its kind. "The world's first cleared LNG swaps will assist market participants in hedging their exposure to LNG prices which have become increasingly volatile due to demand growth in Japan and South Korea," CME's Alan Bannister says. MarketWatch (4/13) LinkedInFacebookTwitterEmail this Story
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Believe and act as if it were impossible to fail."
--Charles F. Kettering,
American inventor

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