Nasdaq OMX Group Inc.’s European derivatives market will open for business May 31, going head to head with the largest futures markets in the region, as it won approval from the U.K. securities regulator.
Government bonds should be excluded from the European Union’s planned financial-transaction tax because the levy would drive up sovereign borrowing costs, a panel of European debt-management officials said.
Top executives of the two largest U.S. derivatives exchanges say regulators must take further steps to align Dodd-Frank Act rules with those of foreign counterparts to avoid oversight splits that could harm markets.
Global financial supervisors are reviewing whether benchmark price-setters for the oil market are meeting international standards amid a European Union probe into potential manipulation of the $3.4 trillion-a-year crude market.
Cocoa rebounded in London on speculation producing nations in West Africa, the main growing region, have sold a lot of their crops, removing some hedging pressure from futures markets. Coffee and sugar slid.
Agricultural futures markets need global regulation because price swings are damaging producers and consumers, French President Nicolas Sarkozy said, a week before G-20 ministers meet to discuss global food supply.
The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.
Liquidity replenishment points, the New York Stock Exchange’s system of curbs to slow trading when prices move rapidly, will be eliminated following instructions from securities regulators, NYSE Euronext said.