News Centre

CFTC Files and Settles Charges Against JPMorgan Chase Bank, N.A., For Violating Prohibition On Manipulative Conduct In Connection With “London Whale” Swaps Trades - JPMorgan Admits To Reckless Conduct In First Case Charging Violation Of Dodd Frank’s Prohibition Against Manipulative Conduct And Is Ordered To Pay A $100 Million Civil Monetary Penalty

Date 16/10/2013

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order against JPMorgan Chase Bank, N.A. (JPMorgan or Bank), bringing and settling charges for employing a manipulative device in connection with the Bank’s trading of certain credit default swaps (CDS), in violation of the new Dodd-Frank prohibition against manipulative conduct. As set forth in the CFTC’s Order, by selling a staggering volume of these swaps in a concentrated period, the Bank, acting through its traders, recklessly disregarded the fundamental precept on which market participants rely, that prices are established based on legitimate forces of supply and demand. As a result, after a thorough 17-month investigation, the Commission has found the Bank liable for violating Section 6(c)(1) of the Commodity Exchange Act (the “Act”), 7 U.S.C. §9 (2012), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”), and Commission Regulation 180.1, 17 C.F.R. §180.1 (2012).

UK's Financial Conduct Authority: Statement On Foreign Exchange Market Investigation

Date 16/10/2013

We can confirm that we are conducting investigations alongside several other agencies into a number of firms relating to trading on the foreign exchange (forex) market.   

UK’s Financial Conduct Authority Publishes Data On Consumer Complaints And Redress For The First Half Of 2013

Date 16/10/2013

Consumer complaints reported by financial services firms fell by 500,000 between the second half of 2012 and the first half of 2013. Data published by the Financial Conduct Authority (FCA) showed 2.9 million complaints were made in the first half of 2013, compared to 3.4 million consumer complaints reported by firms in the previous six months.

SEC Charges Knight Capital With Violations Of Market Access Rule

Date 16/10/2013

The Securities and Exchange Commission today announced that Knight Capital Americas LLC has agreed to pay $12 million to settle charges that it violated the agency’s market access rule in connection with the firm’s Aug. 1, 2012 trading incident that disrupted the markets.

Trust In Global Financial Institutions – Thomson Reuters TRust Index Third-Quarter 2013 Results

Date 16/10/2013

SunGard Comments On The Possible Profound Effects Of A US Debt Default

Date 16/10/2013

Dr Laurence Wormald, head of buy side risk research at SunGard comments on the impact of the US debt ceiling:

EEX Relaunches Trading Of French Physical Futures

Date 16/10/2013

As of 13 November 2013, the European Energy Exchange (EEX) will relaunch trading in physically fulfilled power futures for the French market area (“French Futures”). The maturities of the French base and peak futures comprise Month, Quarter and Year Futures. In addition, EEX will also offer French week contracts with physical fulfillment for the first time.

Instinet Enhances Trade Analytics Platform With Indigo Launch

Date 16/10/2013

Instinet Incorporated today announced the launch of Indigo™, the latest addition to its global suite of advanced trade analytics and visualization tools.

First Derivatives Launches Global Centre Of Excellence For Financial Market Analytics And Surveillance In Sydney

Date 16/10/2013

First Derivatives (AIM: FDP.L, ESM:FDP.I), a leading provider of software and consulting services to global investment banks, brokers, hedge funds and exchanges, today launched its Global Centre of Excellence for Financial Market Analytics and Surveillance in Sydney, Australia.

LCH.Clearnet’s Cleared Freight Volumes Rise On Commodities Demand From China - Cleared Commodities Freight Volumes Reach Record Levels Since The Peak In 2008

Date 16/10/2013

LCH.Clearnet Limited (LCH.Clearnet)  announced that cleared freight volumes more than doubled* in September from a year earlier as traders increased their hedged positions to mitigate their exposure to freight prices. Rising iron ore imports by China and declining availability of shipping in the Atlantic Basin, which was due to an increase in transatlantic shipments, pushed freight prices to three year highs.