If regulators sign off on Deutsche Börse’s takeover of NYSE.Euronext, Europe will have a megalithic futures exchange to rival the CME Group. The European Commission, however, isn’t likely to let that happen without extracting certain conditions
Financial reform was signed into law six months ago and regulators have been busy moving it from theory to a rules-based structure. Now, hopes and reality are starting to clash as challenges arise for all participants
Asia’s most exciting futures markets are in China and India, but the most free and open financial centers are Hong Kong and Singapore. Both, however, have tended to focus on equities and shun futures — until now
It took nearly two years after the collapse of investment bank Lehman Brothers — the defining moment of the credit crisis — before financial reform was passed and it may take another year to see the important details of how it is implemented.
The United States has passed legislation overhauling its financial sector and the European Union is in the process of doing the same. Now the major players are doing everything they can to make those reforms work for them.
The credit crisis, which peaked in 2008, produced an economic downturn unseen since the Great Depression. Whether looking at the housing bust, too big to fail institutions or the recent “flash crash,” there has been a clarion call for reform.
The May 6 flash crash has created a firestorm of criticism against so-called high-frequency traders and direct access algorithms, but the real debate for brokers and exchanges is balancing the need for speed and safety.