Nasdaq announced it will launch U.S. DV01 Treasury Futures, a new interest rate risk product trading on the Nasdaq Futures Exchange (NFX).  U.S. DV01 Treasury Futures, or “the dollar value of one basis point,” will allow clients to hedge against the price sensitivity of a portfolio of cash market U.S. Treasuries across the yield curve from 2-year to 30-year maturities.  The new product will be available for trading on Thursday, July 19, 2018, pending regulatory approval.

The Depository Trust & Clearing Corporation (DTCC) announced that it will be enhancing its Global Trade Repository service (GTR) in support of the next phase of the Monetary Authority of Singapore’s (MAS) derivatives trade reporting requirements which are scheduled to take effect on October 1, 2018. Under the new regulations, firms will be required to report their equities and commodities transactions to MAS, in addition to the credit, interest rate and FX asset classes which already fall under the regime. All firms that are in scope for the next phase of MAS’...

The World Gold Council and State Street Global Advisors rolled out a miniature version of the $33.6 billion SPDR Gold Trust (GLD). The SPDR Gold MiniShares Trust (GLDM) represents the value of 1/100 of an ounce of gold. The new gold ETF comes with an expense ratio of 0.18%, while GLD charges 0.40%. Like GLD, GLDM lists on the NYSE Arca. GLDM’s lower handle means the fund will be more accessible to smaller investors, who might balk at the high share price of GLD, which tracks the price of a full ounce of gold.

Nasdaq Commodities announced a plan to offer Day Ahead Auction Markets for Electricity in Germany, France and the Nordics alongside the existing Power Futures contracts. The implementation of Capacity Allocation & Congestion Management (CACM) aims at promoting effective competition in the generation, trading and supply of electricity. By combining Auction and Futures markets on a consolidated platform, Nasdaq is aiming for increased customer benefits with lower fees and higher market efficiency. Nasdaq has filed an application with the Swedish Energy Markets Inspectorate...

BNY Mellon has gone live with foreign exchange (FX) options products in the US to allow their clients to better hedge currency exposure. The new venture will be led by Sam Osterman, who joined BNY Mellon as global head of FX options in January. He formerly served as head of flow options at Barclays before joining BNY Mellon. The bank’s currency trading desk currently offers several FX derivatives products, including spot, forwards, and non-deliverable forwards. BNY Mellon said the addition of options complements its existing FX business which consists of FX...

During its biennial Technology of the Future conference in Stockholm, Nasdaq Inc., in collaboration with Celent, revealed the results of a new study on market infrastructure. Senior technology and strategy officers uncovered three important trends: the factors that are driving changes in market infrastructure, how MIs are using technology to support business strategies and how technology spending is evolving. The report was conducted through in-depth discussions with C-suite executives (including CEOs, COOs, CTOs, CIOs and Heads of Strategy) representing 20 different MI...

A former chairwoman of the Securities and Exchange Commission was named to the board of Morgan Stanley. The new board member, Mary L. Schapiro, led the commission from 2009 to 2012 after her appointment by President Barack Obama. She will join the Morgan Stanley board effective July 1st. Ms. Schapiro has held several top regulatory posts relevant to the brokerage business. In the 1990s, she was the chairwoman of the Commodity Futures Trading Commission under President Bill Clinton. She also spent three years as chairwoman and chief executive of the Financial Industry Regulatory Authority.

Itiviti, a global provider of multi-asset trading technology and financial infrastructure, announced a new alliance with Syspower, a Taiwanese provider of trading solutions. The partnership will allow Syspower to scale up its existing network with the 700+ brokers accessible through Itiviti’s NYFIX network, paving the way for international outreach. Syspower already benefits from a presence in Taiwan, over the past decade the firm has built a local market presence allowing buy-side and sell-side financial institutions to reach over 500 connections through its FIXNet connectivity...

ABN AMRO Clearing, EuroCCP, Euroclear and Nasdaq have completed a joint proof of concept to make the use of securities more efficient when used to cover margin calls, including after business hours, using blockchain, or distributed ledger technology (DLT). This solution addresses significant business challenges and inefficiencies related to the current provision of collateral to Central Counterparties (CCPs) and has demonstrated that a shared, resilient network can be built between collateral givers, collateral takers and intermediaries. The inefficiencies of collateral processing have been...