City of London Police has seized $22 million six weeks after arresting a City broker on suspicion of using the futures market to launder money from a Russian organised crime group. Detectives took possession of the four cheques under the Proceeds of Crime Act (POCA) from a clearing firm, located in the Square Mile, after the company closed down the suspect’s five trading accounts.
Total nonfarm payroll employment increased by 160,000 in April, and the unemployment rate was unchanged at 5.0%, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, and financial activities. Job losses continued in mining.
The FIA filed a comment letter with the Commodity Futures Trading Commission (CFTC) today in response to its proposed rule on automated trading. "The FIA filed a comment letter with the Commodity Futures Trading Commission (CFTC) today in response to its proposed rule on automated trading..."
Montréal Exchange announced that it will expand its interest rate derivatives offering with the launch of Canadian Dollar Interest Rate Swap Futures based on the Eris Methodology. These new swap futures contracts will be cleared at the Canadian Derivatives Clearing Corporation (CDCC) and will be available for trading on MX in September 2016.