MarketsWiki Page of the Day

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September 18

Shanghai Gold Exchange

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The Shanghai Gold Exchange launched its new international board today, offering yuan-denominated gold contracts in the China (Shanghai) Pilot Free Trade Zone.  The launch marks the first time China has allowed foreign investors to participate in its gold trade. View page

September 17

Jeffrey M. Bandman

Jeffrey M. Bandman, a former executive at LCH.Clearnet and Cantor Fitzgerald, was just appointed special counsel to CFTC Chairman Timothy Massad. View page

September 16

CalPERS

CalPERS is an acronym for California Public Employees Retirement System. CalPERS is the State of California agency that manages the largest public pension fund in the United States with $298 billion in assets.  In September 2014 CalPERS announced plans to divest the entire $4 billion that it has invested with hedge funds, saying they are too expensive and complicated. View page

September 15

Michael D. Robbins

Michael D. Robbins, a long-time member of the New York Stock Exchange, co-founder of Robbins & Henderson LLC, and a contributor to Bloomberg, died Saturday evening at the age of 80.  He is survived by his wife and three daughters, a brother, and six grandchildren. View page

September 12

Seth Merrin

Seth Merrin is founder, president and CEO of  Liquidnet, an electronic marketplace for block trading, serving institutional clients in 43 markets globally. In a September 2014 CNBC interview, Merrin explained the firm’s rationale for expansion from equities into the corporate bond market with its recent acquisition of European bond platform Vega-Chi. View page

September 11

Cees Vermaas

Cees Vermaas, formerly chief executive officer of Euronext Amsterdam, will become managing director and CEO of CME Europe Limited, the London-based affiliate of CME Group, effective 2 January 2015. He resigned from NYSE Euronext on August 1, 2014, after having been with the company for more than 12 years. View page

September 10

Russell Investments

Today the London Stock Exchange (LSE) announced that its shareholders approved a $2.7 billion takeover of Russell Investments. The LSE expects the deal to be completed late in the fourth quarter of 2014 or early in the first three months of 2015. View page

September 9

BGC Partners, Inc.

Today it was reported that BGC Partners Inc is likely to make an unsolicited $675 million all-cash offer for GFI Group, a rival broker that had earlier agreed to be acquired by CME Group. BGC’s offer of $5.25 a share could throw the agreement with CME Group into doubt. View page

September 8

Wedbush Securities, Inc.

Wedbush Securities, a Los Angeles-based securities and investment firm, today announced that it will acquire KCG Futures, the futures business of KCG Holdings, the former Knight Capital Group. View page

September 5

SuperDerivatives

Today IntercontinentalExchange, Inc. (ICE) announced its plan to buy SuperDerivatives, a market data and analytics provider specializing in derivatives pricing models, for $350 million. The deal is expected to close in the 4th quarter of 2014. View page

September 4

Michael Bloomberg

Eight months after his final term as mayor of New York City, Michael R. Bloomberg told executives at Bloomberg L.P., the company he founded, that he would resume leadership of the company at the end of 2014.  Bloomberg still owns 88 percent of the company.  View page

September 3

Anthony Belchambers

Anthony Belchambers, the founder and former CEO of the Futures and Options Association (FOA),  joined the board of Saxo Capital Markets as a non-executive director this month. View page

September 2

Corinna Schempp

Corinna Schempp, an attorney and former senior regulatory advisor at LCH.Clearnet, was appointed director of regulation at FIA Europe starting September 15, 2014. View page

August 29

Cocoa

Cocoa is a soft commodity traded at the IntercontinentalExchange on its ICE Futures U.S. unit and in Europe on its NYSE Liffe division. CME Group, which is planning a 2015 launch of a London-based cocoa contract, announced in August 2014 that it would offer “participation credits,” which will return money to participants depending on the success of the contract, in addition to its usual market-maker incentives.  View page

August 28

James Parisi

James (Jamie) Parisi announced he will retire as CFO of CME Group at the end of the year, at the age of 49. He will be replaced by CME group senior managing director of corporate development and finance and deputy CFO John Pietrowicz. View page

August 27

Paul Adcock

Today Bloomberg reported that the NYSE Group, the division of the InterContinentalExchange formed when ICE acquired NYSE Euronext, has promoted Paul Adcock, one of the pioneers of electronic equity trading, to oversee day-to-day operations of its U.S. stock exchanges. View page

August 26

Douglas L. Bry

Douglas L. Bry is president and co-founder of Northfield Trading LP, a Denver-based commodity trading advisor (CTA) that provides investment management services. He also serves as an executive board member of the  National Futures Association (NFA). In August 2014, Bry announced that Northfield will cease operations after 25 years and return $100 million to clients. View page

August 25

William Harts

William “Bill” Harts joined the Modern Markets Initiative as CEO in July. MMI is a policy advisory group representing quantitative and high-frequency trading firms. View page

August 22

Eris Exchange

Eris Exchange is a U.S. futures exchange with listed interest rate swap futures. In August 2014, Eris tapped connectivity provider Perseus Telecom to provide access to high-frequency trading firms, via the Equinix data centers in Chicago, London and Tokyo. View page

August 21

Bart Chilton

Bartholomew H. “Bart” Chilton is senior policy advisor for the law firm DLA Piper, which he joined in April 2014 after serving as one of the five commissioners of the Commodity Futures Trading Commission. In August 2014, the Modern Markets Initiative, an industry association representing high-frequency trading firms, announced that Chilton and DLA Piper will work with MMI on policy matters. During his years at the CFTC, Chilton was a frequent critic of HFT, which he nicknamed “cheetahs.” View page

August 20

Standard Chartered Bank

Standard Chartered Bank agreed to pay a $300 million fine as punishment for failing to fix anti-money laundering compliance problems as required by a 2012 settlement with the New York Department of Financial Services.  In the 2012 settlement, the bank agreed to pay $340 million after a money laundering probe alleged that the bank violated U.S. sanctions against Iran and other countries. View page

August 19

Korea Exchange

Korea Exchange (KRX) is the sole platform for the listing and trading of stocks, bonds and derivatives in Korea. It was formed in 2005 from the merger of the Korea Stock Exchange (KSE), the Korea Futures Exchange (Kofex), the Kosdaq Market and the Kosdaq committee. In August of 2014, KRX said that a 2.5 per cent stake in the exchange was for sale and that CME Group, Deutsche Börse and Standard & Poor’s had all expressed interest. View page

August 18

BM&FBOVESPA

BM&FBovespa launched a new clearing house today after four years of developing the platform. The exchange will first transfer exchange-traded and over-the-counter derivatives to the new clearing house, followed by equities in 2015. The clearing house completes a R$1.5bn project to overhaul Brazil’s trading infrastructure. BM&F is also planning to sell a blueprint for the clearing house’s technology to three other emerging market countries. View page

August 15

Elisse B. Walter

Elisse B. Walter, a former commissioner of the U.S. Securities and Exchange Commission, was just appointed as a public governor to the board of the Financial Industry Regulatory Authority, the non-governmental regulator for U.S. securities firms.  View page

August 14

Markit Group Limited

Markit Group Limited, a financial data provider, beat analyst forecasts for earnings and sales in its first reporting quarter after going public earlier this year. Sales rose 11% in the second quarter from the same period a year ago, to $264.6 million, above the consensus estimate of $256 million. View page

August 13

LME Clear

LME Clear, the London Metal Exchange’s self-clearing program, was just approved by the Bank of England to operate under the UK’s Financial Markets and Insolvency Regulation. This is the penultimate regulatory approval needed for LME Clear’s launch, which is scheduled for Sept. 22. View page

August 12

BATS Global Markets

In July 2014 BATS Global Markets became the world’s largest stock exchange operator for the first time, with market shares of 20.3% in U.S. equities and 21.5% in European equities. View page

August 11

Anat R. Admati

Anat R. Admati was recently profiled in the New York Times as a “gadfly” to the banking industry because of her view that the big banks are still far too leveraged and should be forced to drastically reduce their reliance on borrowed money and fund their operations much more through equity. View page

August 8

IntercontinentalExchange Group Inc.

The IntercontinentalExchange Group Inc. (ICE) has acquired U.S. patent rights relating to automated trading strategies that make price and trading decisions based on market price information.  The intellectual property rights cover multiple asset classes traded electronically on exchanges, including futures, options and cash equities. View page

August 7

Anthony G. Blumberg

Anthony G. Blumberg, the former CEO of BNY ConvergEx Group LLC, was charged by the Securities and Exchange Commission today with deceiving brokerage customers with hidden fees to buy and sell securities. View page

Full list »