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  • Florida Court Enters Orders Imposing Fines And Other Sanctions Against Randy Burstein And Nader Yazdani In CFTC Action Charging Commodity Options Fraud

    Date 20/07/2009

    The U.S. Commodity Futures Trading Commission (CFTC) announced today that it obtained $280,000 in civil monetary penalties and equitable relief in consent orders of permanent injunction against Randy Burstein, of Miami Beach, Florida, and Nader Yazdani, of Boca Raton, Florida, both former employees of Liberty Financial Trading Corp., Inc. and Liberty Real Assets Investment Corporation (collectively Liberty). The sanctions resolve a CFTC enforcement action that charged them with fraudulently s

  • CME Group Announces The Launch Of New Natural Gas Basis Options Contracts

    Date 20/07/2009

    CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of trading and clearing services for 11 new financially settled natural gas basis options contracts. Trading will be available on the New York trading floor and clearing services will be available through CME ClearPort(®), a set of flexible clearing services open to over the counter (OTC) market participants to significantly mitigate counterparty risk and provide capital efficiencies across asset

  • IMF Executive Board Backs US$250 Billion SDR Allocation To Boost Global Liquidity

    Date 20/07/2009

    The Executive Board of the International Monetary Fund (IMF) has backed an allocation of Special Drawing Rights (SDRs) equivalent to US$250 billion to provide liquidity to the global economic system by supplementing the Fund’s 186 member countries’ foreign exchange reserves. The equivalent of nearly US$100 billion of the new allocation will go to emerging markets and developing countries, of which low-income countries

  • Goldman Sachs Electronic Trading Announces The Launch Of Its Enhanced Shortfall Model

    Date 20/07/2009

    Goldman Sachs Electronic Trading (GSET) announced today the release of several significant enhancements to the Goldman Sachs Shortfall Model (GSSM).  The GSSM generates expected shortfall numbers, which are estimates for the average change in stock price a trader may create by executing an order. Two major enhancements to the GSSM include:

  • Direct Edge Extends Clearing Agreement With Broadcort

    Date 20/07/2009

    Direct Edge announced today that it has re-signed a long-term contract with Bank of America Merrill Lynch’s Broadcort® division. Direct Edge has been using Broadcort’s clearing services since 2005.