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  • O'Malia signs off with warnings to correct roadblocks to liquidity

    Last week, the Commodity Futures Trading Commission's soon departing commissioner Scott O'Malia gave a frank assessment of the obstacles to robust liquidity that the newly electronic swaps market faces. Speaking to an audience of financial lawyers, he warned about fracturing of liquidity between US and non-US markets, and the lowered liquidity in some commodities markets that is making hedging costly.

     

Credit Suisse to move more rates, FX trading to electronic platform and exit commodities

Credit Suisse announced it will move more of its foreign exchange and rates trading to its electronic platform as a way of trimming expenses. The firm also announced its plans to exit commodities as it posted a large quarterly loss, which was attributed mainly to its payment of the U.S. tax evasion settlement.

BATS president O'Brien departs firm

BATS Global Markets, the second largest exchange operator in the US, has announced that its president, William O'Brien, has left the company. CEO Joseph Ratterman will now take on the president's duties, returning to the dual role of president and CEO that he held before the BATS merger with Direct Edge earlier this year.

Outsourced tech support model continues to grow

When multibillion dollar hedge fund Pequot Capital Management announced in 2009 it would close its doors at the end of that year, some senior members of the IT department were faced with decisions on the next step in their careers.

European Central Bank website hacked, 20,000 emails stolen

The European Central Bank announced that its Web site has been hacked and personal contact information including email addresses and some addresses and phone number has been stolen. The ECB only found out about the hack when it received an anonymous email seeking financial compensation for the stolen data.

 

RBS strategists warn of low bond market liquidity

RBS strategists are warning investors that the low liquidity in the bond market may pose a systemic risk if a change in monetary policy were to prompt selling of bonds. The RBS team says its...
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