The Commodity Futures Trading Commission is seeking detailed information on the incentives that U.S. derivatives exchanges such as CME Group Inc. and IntercontinentalExchange Group Inc. offer to spur trading, according to a person familiar with the matter.
Derivatives clearinghouses owned by CME Group Inc. and Intercontinental Exchange Inc. have been designated systemically important by U.S. regulators, moving them closer to heightened supervision under the Dodd-Frank Act.
ICE Trust U.S. LLC, the world’s largest clearinghouse for credit-default swaps, withdrew its Nov. 12 application to the U.S. Commodity Futures Trading Commission to be registered as a designated clearing organization.
Jeffrey Sprecher, who built the second-largest U.S. futures market, will likely focus on reducing costs after acquiring NYSE Euronext even if that means separating the 220-year-old New York Stock Exchange.
The New York Stock Exchange and a group of money managers are lobbying U.S. securities regulators to abolish the practice of paying rebates to large brokers to attract trades to stock exchanges and other trading platforms, according to three people familiar with the matter.
The London Metal Exchange, founded 134 years ago above a hat shop in the financial district, may be the latest major mutual exchange to be bought after record trading volumes attracted the interest of multiple bidders.