News
(Bloomberg)($)
The allegedly secret trading strategy over which Jane Street Group is suing two former traders and Millennium Management involves options trading in India, lawyers inadvertently revealed at a court hearing. Jane Street, which sued Millennium as well as former employees Douglas Schadewald and Daniel Spottiswood last week, had sought to close the Friday hearing before US District Judge Paul Engelmayer in Manhattan. The judge denied that request but urged the parties to avoid mentioning any trade secrets.
(WSJ)($)
Long-dormant efforts to restrict Wall Street pay have returned to the agenda as regulators make another push to address unfinished business from a 2010 financial overhaul. Banking regulators are planning to revive a proposal that would require big banks to defer compensation for executives and take back more of their bonuses if losses pile up, according to people familiar with the matter.
(CoinDesk)
The co-author of the U.S. Senate’s latest push for stablecoin regulations suggests Circle would have an edge over foreign competitors for customers seeking safety.
(Waters Technology)($)
Chris Edmonds and Jeffrey Sprecher first met in the late ‘90s. Sprecher’s Intercontinental Exchange, or ICE, was in its infancy, aiming to provide a network for over-the-counter energy commodity trading. Edmonds was working his way up the corporate ladder in the energy trading business, where he had started in 1997 as an OTC natural gas broker at ICAP. In essence, the two were competitors.
(Risk.net)($)
Greater guidance around how non-bank firms manage margin calls could be helpful, according to industry sources, after the Financial Stability Board (FSB) urged regulators to review existing rules.
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