NASDAQ disruption call summary

Summary of the discussion that took place on Wednesday, March 25 among market participants to discuss whether NASDAQ’s cancellation of market on close orders on March 24 constitutes a Market Disruption Event. Also, Excel sheet with the S&P 500 constituents at the time.

FRTB Impact on Correlation Trading

The capitalization of the correlation trading portfolio (CTP) under the Fundamental Review of the Trading Book will have an adverse economic impact for users of these instruments. In particular, there is a lack of clarity and consistency in the application...

A Path to Greater CFTC-SEC Alignment

Earlier this week, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) held a roundtable on regulatory harmonization – an initiative we wholeheartedly support. The US regulatory framework has evolved over time to facilitate financial markets...