editor's corner

ICAP's European SEF signals cross-border swaps likely to comply with US laws

ICAP, the world's largest interdealer broker, has confirmed plans to register its U.K.-based ICAP Global Derivatives Limited electronic trading facility as a swaps execution facility with U.S. regulators. The move is in addition to its U.K. regulatory permissions, but signals a willingness to accommodate U.S. cross-border swaps rules. Other players are expected to follow.

Barclays joins list of firms exiting commodities

Barclays, one of the largest commodities traders, is planning to exit from most commodities, including large parts of its metals, agriculture and energy trading, according to reports. Other large commodities players, including JPMorgan, Morgan Stanley, Deutsche Bank and UBS have already announced similar withdrawals from commodities trading.

GAO criticizes SEC over cybersecurity

The U.S. Government Accountability Office has sent a 25-page report to the Securities and Exchange Commission detailing numerous weaknesses in the agency's cybersecurity controls over the nation's Securities markets. The report was the result of a security audit conducted by the GAO during the 2012 and 2013 fiscal years.

ICE buys Algo Technologies to speed up NYSE

IntercontinentalExchange Group has reportedly purchased Algo Trading Ltd. to speed and modernize the technology on the New York Stock Exchange. Algo Trading claims its AlgoM2 matching engine is the fastest in the industry.

Walmart enters money transfer business

Walmart's latest move in financial services is a foray into money transfer, which will challenge Western Union and MoneyGram with a new store-to-store-based service. The service, beginning this...

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