1 – 7 AUGUST 2013
that date, it said. Moving the launch date for the new feeds to August 5 is intended to make the transition to the new feeds easier for members, NFX stated. NFX Top of Market will offer best bid and offer data, last sale data and end-of-day summary data for users. The depth of market feed will include full depth of quotes and orders, as well as the last sale and end-of-day summary data. “NFX Depth of Market will be offered with a companion GLIMPSE feed as a state of the market retransmission facility add on for no additional cost,” NFX added, referring to the service providing updates on trading system, symbol directory and status, among other things. NFX’s new feeds will only be available in uncompressed formats, the exchange said, and members are recommended to anticipate bandwidth needs of 40 Mb for the Top of Market feed and 120 Mb for the Depth of Market feed. The exchange said the data feeds will be available for free initially but fees will be announced later. REGULATION
Panther Energy fine by regs just first move, exec says
Fines levied by the Commodity Futures Trading Commission (CFTC) and the UK’s Financial Conduct Authority (FCA) against Panther Energy Trading are expected to be just the start of high profile actions to deter inappropriate trading strategies, according to John Edge, managing director of capital markets business development at Nice Actimize. Both regulators announced enforcement actions against Panther Energy, located in Red Bank, New Jersey, and its owner, Michael Coscia, last week. The FCA said it would fine
Coscia $903,176 while the CFTC has assessed a fine against both entities of $2.8m in monetary penalties and trading profits. Panther was placing bids and offers in futures contracts on CME Group markets and ICE Europe in order to impact the price with large amounts of interest then transacting in smaller orders. Edge noted while few details are available related to how the regulators managed to recognize and monitor the activity, the fines make clear that they can intercept and comprehend the resultant data. “It is a clear message to the industr ???????????????????????????????????????????????????????????t???????????????????????????????????????????????????????????????????????????????????????????????????????????q$??????????????????????????????e??????????????????e?????????????????????????????t?!??????????????????????????????????????????????????????????????????????????q%?????e??????????????????????????e???????????????I?????????????t??????????q$?????????????????????????????????????????????????????????????????????????????????????e??????????????????????????????t????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????e??????????????????????????????????????????????????????????a
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