ICE transfers energy futures trading

Intercontinental Exchange (ICE) plans to transfer trading in hundreds of energy futures contracts from London to the U.S. to avoid MiFID II rules, according to the Financial Times.

Chicago Mercantile Exchange (CME) cleared four block trades in agricultural futures for the first time on Monday, according to Bloomberg. Block trades took place in hog futures, Black Sea wheat and urea fertilizer.

Chicago Board Options Exchange (CBOE) is now providing its Cboe One real-time stock quote and trade information to Thomson Reuters. The relationship will see Thomson Reuters offering customers the Cboe One Summary Feed, which delivers a unified view of the aggregated quotes (Best Bid and Offer), trades (Last Sale) for 4 Cboe US equities exchanges.

Shenzhen Stock Exchange (SZSE) will in 2018 remain committed to CSRC’s strict law-based supervision philosophy. SZSE will enrich and complete the categories of disciplinary actions, optimize the work procedures and improve the pertinence, transparency and credibility of the work.

Tradeweb said European credit market volumes surged 70% so far this year over the ADV in 2017 as MiFID II is boosting electronic trading.

GMEX Technologies partnered with Colt to deliver the GMEX Exchange-in-a-Box over the Colt PrizmNet financial extranet. Given the global reach of Colt PrizmNet, the partnership will expand connections of emerging markets exchanges to global participants.

The Global Association of Central Counterparties (CCP12) expressed concerns regarding the application of the Basel Leverage Ratio on CCP cleared client business. CCP12 emphasizes the need to allow banks to offset segregated margin on behalf of clients against their client trades for purposes of calculating leverage ratio exposures. Clearing members should also be able to remove cash posted as margin for the purpose of determining the leverage ratio.

The U.S. Securities and Exchange Commission (SEC): Direxion,  Exchange Listed  Funds, ProShares and VanEck withdrew plans to list Bitcoin ETFs. Also, SEC is working on its own version of the “fiduciary rule” according to WSJ. The SEC’s rule would affect all brokerage accounts, not just retirement funds as regulation issued by the Labor Department.

Tadawul is adjusting rules to make to facilitate foreign investment. “Changes are required by the growth of the market and what international institutions tell us,” Chief Executive Khalid al-Hussan told Reuters.

The European Securities and Markets Authority (ESMA) delayed the publication of the data on the double volume cap (DVC) mechanism for January 2018. The current quality and completeness of the data do not allow for a sufficiently meaningful and comprehensive publication of double volume cap calculations, as required under MiFID II/MiFIR, and ESMA has taken this decision to avoid creating an unlevel playing field. ESMA warned credit rating agencies and trade repositories over lack of transparency in their fees. ESMA Maijoor said “the ultimate aim is to ensure that customers know exactly what they are paying for."

Futures Industry Association (FIA) tech expanded Position Limits Databank service to include position limits for commodity derivatives as set by European regulators under MiFID II.