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November 26, 2012
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  Top Stories 
  • Rivals reportedly approach Knight about market-making business
    At least two of Knight Capital Group's rivals reportedly have approached the securities firm about the possibility of buying its market-making operation. Getco and Virtu Financial are among those likely to bid on the business, sources said. The market-making operation's relationships with online brokerages make it attractive to potential suitors, Jenny Strasburg writes. Bloomberg (11/25), The Wall Street Journal (11/23) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • CFTC delays start date for swaps dealers to report data
    The Commodity Futures Trading Commission has postponed the start date for when swaps dealers must report trades to data warehouses. The change gives the industry a common date for beginning disclosure, after concerns were raised about different starting dates for different market participants. Reuters (11/21) LinkedInFacebookTwitterEmail this Story
  • CFTC to firm up clearing rules for swaps dealers
    The Commodity Futures Trading Commission will meet Thursday and is expected to make the final determination of which swaps must be guaranteed by clearinghouses owned by LCH.Clearnet Group, IntercontinentalExchange and CME Group. The rules are expected to go into effect in March and would have to be followed by dealers such as JPMorgan Chase and Goldman Sachs Group. Bloomberg (11/21) LinkedInFacebookTwitterEmail this Story
  • FX products are caught in proposed rules, BoE official says
    Michael Cross, the Bank of England's head of foreign exchange and reserves management, says proposed capital and margin requirements could disproportionately affect basic forex products. "It is not always the case that these products are inherently more risky," Cross said. "So this leaves us with a situation with certain products being potentially subject to disproportionately high margin requirements in relation to the risk they pose." (subscription required) (11/22) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry Developments 
  • CME gets green light for its swaps-data repository
    The Commodity Futures Trading Commission has given CME Group permission to set up a swaps-data repository. The approval came after the exchange sued the regulator over a delay in approval. SDRs are intended to provide transparency in the $650 trillion swaps-trading market. Reuters (11/21) LinkedInFacebookTwitterEmail this Story
  • Weekly options take off
    Weekly options sometimes account for up to a quarter of the industry's total daily volume, TABB Group analyst Andy Nybo says. Retail investors, hedge funds and others have started to embrace the products, which are offered by nine exchanges. Futures Industry (registration required) (11/2012) LinkedInFacebookTwitterEmail this Story
  • Other News
  Electronic Trading News 
  Commodities and Managed Futures 
  • Singapore regulator provides relief to ICE energy brokers
    Singapore's Monetary Authority has granted temporary exemptions for interdealer brokers amid IntercontinentalExchange's transition for energy swaps contracts to listed futures. Brokers say the exemptions are applied individually for those who are also seeking a capital-markets services license. (subscription required) (11/23), Financial Times (tiered subscription model) (11/23) LinkedInFacebookTwitterEmail this Story
  • Other News
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