MarketsWiki Page of the Day

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August 27

Paul Adcock

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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

August 6

Alexander “Sandy” Broderick

Alexander “Sandy” Broderick, the chief executive officer of DTCC DerivSERV, the Depository Trust & Clearing Corporation‘s global trade repository, is set to leave the company at the end of August. View page

August 5

Jonathan Spall

Jonathan Spall, a consultant with the firm he established, G Cubed Metals Ltd., was appointed by the London Platinum and Palladium Fixing Company as an independent consultant to chair the twice-daily fixing calls for platinum and palladium. View page

August 4

Stanley Ross

Stanley Ross, a London-based trader who revolutionized the Eurobond system by breaking the monopoly underwriters had on bond pricing,  died on July 23 at the age of 83. View page

August 1

Robert G. Pickel

Robert G. Pickel is the chief executive officer of the International Swaps and Derivatives Association, Inc.  He will step down from that post on August 18, 2014 and be succeeded by former CFTC commissioner Scott O’Malia. He penned his last “Parting Thoughts” commentary for derivatiViews on July 31, 2014. View page

July 31

Trayport

Trayport is a London-based firm that specializes in developing software and networks to facilitate online trading across multiple asset classes. CME Group’s acquisition of GFI Group, reported yesterday, was done mainly so that the CME Group could acquire GFI’s Trayport and FENICS businesses. View page

July 30

GFI Group

GFI Group Inc. is an interdealer broker that specializes in over-the-counter derivatives products and related securities. On July 30, 2014,  CME Group announced it will be acquiring GFI in a deal valued at $580 million, in order to acquire GFI’s Trayport and FENICS businesses. Following the acquisition, CME will sell the inter-dealer business to a private consortium led by GFI Executive Chairman Michael Gooch for $165 million in cash. View page

July 29

Robert Greifeld

Robert Greifeld is the CEO of NASDAQ OMX. He assumed leadership of NASDAQ in 2003, when the company operated one equity market in the U.S. In a July 28 market structure roundtable hosted by Rep. Scott Garrett (R, New Jersey), Greifeld said that dark pools have become “perverted” and that the SEC’s Regulation NMS has led to fragmentation to the degree that best execution has become “virtually meaningless.” View page

July 28

Alan C. Greenberg

Alan C. “Ace” Greenberg, who led Bear Stearns up from a small bond shop to one of the world’s biggest securities firms, died Friday at the age of 86. View page

July 25

London Metal Exchange

Yesterday the London Metal Exchange (LME) announced that it would upgrade its network service to provide three access levels to its electronic systems, including one geared to high-frequency traders. View page

July 24

Robbie McDonnell

Robbie McDonnell is the executive vice president of global sales for Trading Technologies International, Inc. He was promoted to the role in July 2014 after serving as managing director of sales for the firm’s Asia/Pacific region.  McDonnell will relocate from Sydney to TT’s Chicago headquarters. View page

July 23

William O’Brien

William O’Brien stepped down as the president of BATS Global Markets on Tuesday. He joined the company after serving as CEO of Direct Edge before it merged with BATS in January 2014. View page

July 22

Scott D. O’Malia

Scott D. O’Malia is one of the five commissioners of the  Commodity Futures Trading Commission. He also serves as the chairman of the commission’s Technology Advisory Committee. In July 2014 he announced his resignation from the commission, effective August 8, and on August 18 will become CEO of the International Swaps and Derivatives Association (ISDA).  [ View page]

July 21

Intellectual Property Exchange International, Inc.

The Intellectual Property Exchange (IPXI) announced today that they have successfully closed their first two initial offerings of unit license rights. The offerings are based on patent rights to prepaid stored value card (SVC) technology owned by JPMorgan Chase Bank, N.A.  Trading on the contracts can now take place on the IPXI Trading Platform. View page

July 18

Gerald Corcoran

Gerald F. Corcoran is the chairman and chief executive officer of futures brokerage and clearing firm R.J. O’Brien (RJO).  The FIA board today announced that they have elected him to serve as chairman of the Futures Industry Association (FIA).  He will serve as chairman until the next board meeting in March 2015. He was previously vice chairman. View page

July 17

Chris Gibson-Smith

Chris Gibson-Smith, chairman of the London Stock Exchange Group (LSE), Europe’s largest cash equities platform, will step down from that position in 2015 after more than 11 years in the role. View page

Full list »