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December 3, 2012
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Swaps Advance Into the Future - Starting Today
New Deliverable Interest Rate Swap Futures from CME Group combine the best of futures and OTC swaps to provide maximum margin efficiency. Developed in collaboration with banks, hedge funds and asset managers, these new contracts provide multiple ways to save via margin efficiencies, risk offsets and more. Start Trading Today.
  Regulatory Roundup 
  • Basel margin rules draw a challenge from exchanges
    The world's biggest exchanges have joined forces to protest strict capital requirements proposed by the Basel Committee on Banking Supervision's Interim Capital Framework. The exchanges contend that the measures "will increase the cost of exchange traded derivatives and could potentially make [them] more expensive than less liquid and less transparent products," according to a letter sent to the Financial Stability Board. Financial News Online (U.K.) (subscription required) (11/30) LinkedInFacebookTwitterEmail this Story
  • Rules will rein in alternative sources of credit, study says
    Allen & Overy has released a study that asserts that new regulations in Europe, the U.S. and elsewhere will curtail the ability of asset managers, insurers and investment funds to provide alternative sources of credit. The research found that rules governing the derivatives markets, hedge funds, banks and other areas of the financial industry will combine to increase the cost of credit. "Allen & Overy believes it will take years to clarify exactly what the growing number of regulations mean, creating confusion and uncertainty in the market and bringing with it a prolonged period of credit paralysis," the study says. Financial Times (tiered subscription model) (12/2), Banking Times (London) (12/3), The Wall Street Journal/Dow Jones Newswires (12/2) LinkedInFacebookTwitterEmail this Story
  • Other News
Is Pricing Low Your Strategy to Success? Think again.
Pricing is the heart of a business. It affects everything you do and is affected by everything you do. Economists talk of supply and demand as key factors behind pricing—successful entrepreneurs manipulate demand by making their products more desirable. These six steps will help you determine the right price for your product or service, read the article and learn how to get pricing right.

  Industry Developments 
 
  • U.S. banks help offshore clients sidestep derivatives rules
    Wall Street banks are telling foreign clients that they can sidestep upcoming U.S. rules on over-the-counter derivatives by routing their trades through their overseas subsidiaries rather than through parent banks, sources say. The detour could eventually be shut down by foreign regulators. Reuters (12/3) LinkedInFacebookTwitterEmail this Story
  • D.E. Shaw doesn't see itself as an HFT firm
    D.E. Shaw & Co. says it wants to clarify to investors and others how its computer-driven programs work, and it shuns the high-frequency-trading label. "I don't think we view ourselves as high-frequency traders. No one can define what high-frequency trading is, obviously. If it's using computers to trade stocks, we've been doing that for 25 years," Shaw's Darcy Bradbury says. Reuters (11/29) LinkedInFacebookTwitterEmail this Story
  • Futures trading is having a strong year in China
    China's lagging stock markets have driven investors to other venues, including the country's futures markets. Combined trading turnover was up about 20% in the first 11 months of 2012 compared with the year-earlier period, according to an industry group Xinhuanet.com (China) (12/2) LinkedInFacebookTwitterEmail this Story
  • Other News
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Electronic Trading News 
  • Australia looks at issues related to HFT
    Australia may hold high-frequency traders responsible for manipulative trading strategies and issues with algorithms. "There is an argument that changes to the regulatory framework should be made so that the HF traders themselves bear the regulatory burden directly, and provide some improved protection to market participants that are providing market access for HF traders," according to a paper by the minister for financial services, Bill Shorten. The Sydney Morning Herald (Australia) (12/3) LinkedInFacebookTwitterEmail this Story
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  Commodities and Managed Futures 
  SmartQuote 
Silent gratitude isn't much use to anyone."
--Gladys Bronwyn Stern,
British writer


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