ICDA Burgenstock Conference, Lucerne
12th &13th September 2017
On behalf of the AFM, Paul Constantinou attended the recent ICDA Burgenstock Conference.
The conference had 2 parallel streams; a general series of discussions focussed on the international derivatives markets and a parallel closed stream for international regulators. With MiFID 2 now less than 4 months away regulation also found its way into the general discussions with input from compliance and IT practitioners who are vested with the responsibility of getting their organisations ready on time.
The 2 conferences came together for opening plenary sessions and also for the Gala Dinner which together with the regulators conference took place in the newly reopened Burgenstock Resort. The dinner also saw a keynote speech from Commissioner Giancarlo, Chairman of CFTC.
With its usual spread of discussion topics including the regular exchange leaders panel and other panels looking at a wide range of topics including clearing/CCP, fintech, market infrastructure, emerging markets and global commodity trends these were 2 full and interesting days.
Delegates at the conference came from across the derivatives industry and included a number of AFM members who all found the event of interest and are looking forward to meeting again in Bangkok in January 2018.
Commodity Market Bill passed by the Parliament of Nepal
In a historic declaration, the Parliament of Nepal passed the bill related to the Commodity Market on 30th July 2017. The bill will be effective from 91 days after certification from the President of Nepal. In hindsight, the bill was submitted in the house 4 months back. The current regulator of the Nepal Stock Exchange i.e. Securities Board of Nepal (SEBON), has been given the responsibility to regulate the commodity market too. The history of the Commodity Market in Nepal dates 10 years back with the establishment of the first commodity exchange. However, words related to the regulation of the commodity market had been in priority in the budget speeches every year since 2009 (the year MEX Nepal went Live). SEBON has expedited the work related to the regulatory framework of the commodity market. In this regards, SEBON had invited the stakeholders for an interaction program on 4th August 2017 and encouraged suggestions on the regulatory framework. The news was met with positive vibes among the market practitioners and the interest from the general public has increased many folds since the historic declaration.
AFM 20th Anniversary Publication
The book reflects on many good memories AFM members had not only building their own markets but also knowing they are able to do so sharing experiences with each other.
Mr. Jitesh Surendran, CEO of Mercantile Exchange Nepal Limited (MEX Nepal), has been elected as the Vice Chairman of the South Asian Federation of Exchanges (SAFE) for the term 2017-2019 at the 13th General Assembly Meeting of SAFE held at Bombay Stock Exchange, India.
Buenos Aires, April 2017.- After the signing of the interconnection agreement between ROFEX and MATba last January 4, 2017, the technical teams of both markets continue working to implement the integrated trading, which will begin next month. From that moment on, ROFEX´s Agents will be able to trade MATba´s Soybean contracts and MATba´s Agents will be able to trade ROFEX´s US dollar futures. The rest of the products will be incorporated in the following weeks and it is estimated that in 60 days the integrated trading of Argentine futures will be complete.
The joint efforts and actions regarding connectivity of platforms and their interfaces, product standardization and synchronization of clearing and settlement processes, are advancing in accordance with the agreement.
Thus, the long-standing wish of having access to all Argentine futures and options in a unified and simple manner will come true for many generations of intermediaries and participants of futures markets in Argentina.
Together, the markets have more than 200 agents and a high potential of product complementation, aiming at synergy between both institutions and the consolidation of futures and options markets in Argentina as an effective tool for hedging against price fluctuations.
Representing the AFM, Paul Constantinou chaired the Emerging Markets stream at the 2017 World Exchange Congress. The focus of the stream was the Indian market and more generally innovation in commodity derivatives.
The stream opened with a discussion of the developments in the Indian market. First up was Nehal Vora, Chief Regulatory Officer of Bombay Stock Exchange who gave an isight into the technology developments being made for Surveillance and Compliance at the BSE.
Parveen Kumar Singhal, President Multi Commodity Exchange of India followed and talked about the evolution of derivatives in India and highlighted the position of the now reformed MCX in the market.
Finally Edward Woodford co-founder of Seed Commodities eXchange Chicago looked at the challenges that need to be overcome by innovators in the global commodities markets. This combined a broad view of the hurdles, regulatory and otherwise, faced in the USA interlaced with the Seed Commodities story.
This event, jointly organized by MATba and ROFEX, was held on March 9 and 10, 2017 at the Buenos Aires Grain Exchange and the Rosario Board of Trade, respectively. For two days, the cities of Buenos Aires and Rosario hosted futures industry specialists, officials and authorities from markets based around the world for discussions on the current state of the global market…
There are two more weeks left before AFM member and partner organisations gather in Argentina to celebrate the Association's 20th anniversary. The first day of the conference takes place in Buenos Aires with the host being MATba, AFM's founding member. Delegates will travel onto Rosario to enjoy the fantastic hospitality of ROFEX and to conduct the second conference day in the capital city of Sante Fé. We hope to meet as many of our members and partners on this special occassion. For more details please visit: http://www.afmorg.net/conferences/20th-anniversary-conference
AFM 20th Anniversary Annual Conference takes place on March 9-11, 2017 Argentina hosted by MATba in Buenos Aires and by ROFEX in Rosario. For more information see:http://www.afmorg.net/conferences/20th-anniversary-conference
In 2016, Taiwan Futures Exchange (TAIFEX) continued to launch new products in order to meet maket demands and expand its product suite. F orFmore information please refer to the following press release.
AFM congratulates its two member organisations (KELER CCP and BRM) for their partnership. See attached press release.
September 14, 2016
Patrick J. Kenny of CQG was elected as a member of AFM's Executive Board on April 18, 2016 replacing Paul Constantinou formerly with Trayport.
AFM is proud to list the Thailand Futures Exchange and the Nepal Mercantile Exchange as new members of the Association.
April 18, 2016
March 16, 2016
March 8, 2016
AFM organises its 19th Annual Conference on April 18-19 in Istanbul. The event is hosted by Borsa Istanbul. The conference will feature panel discussions on the host country, commodity derivatives (agriculturals and oil/gas), regional cooperation and islamic finance. For more information please visit:
Please join us in Istanbul!
March 7, 2016
The Swiss Futures & Options Association (SFOA) today announced a change of name to the International Commodities and Derivatives Association (ICDA). The change has been made to support the latest requirements of the Association's members, who include global brokers, bankers, investment fund managers, commodities trading firms, market information providers and service companies, as well as exchanges and clearing houses. From now, ICDA is also accepting individual members for the first time in its long history.
To see the full press release: Press release
February 15, 2016
Read Press Release
February 1, 2016
January 21, 2016
National Bank of Hungary acquired shares of the Budapest Stock Exchange. New management at the Stock Exchange. Please read relevant Press Release.
December 16, 2015
Borsa Istanbul goes live on NASDAQ Technology
December 14, 2015
November 30, 2015
AFM joined the Annual General Meeting of the International Association of Exchanges of the CIS Countries (October 28-29, 2015, Minsk, Belarus)
Minsk played the host organisation to the annual General Meeting of IAE CIS. The event gathered top managers of 15 largest exchanges from 6 countries as well as representatives of the Eurasian Economic Commission. Valentin Chekanov, Minister of Trade of Belorussia, Arkady Salikov BUCE Chairman and Alexei Kuprin, IAE CIS Executive Director opened the meeting.
November 2, 2015
Dalian Commodity Exchange (DCE) and Borsa İstanbul signed a memorandum of understanding (MoU) on October 23 in Istanbul, Turkey, with an aim to seek to cooperate in information sharing, product promotion and staff exchange.
DCE Chairman Li Zhengqiang said that DCE had been attaching high importance to globalization and opening-up. The “One Belt and One Road” strategy of the Chinese Government provides a new opportunity for cooperation among all the relevant exchanges.
VIOP launches its first interest rate product: Overnight Repo Rate Futures
- Kristian Schach Möller, CEO, Agricultural Commodity Exchange for Africa (ACE) Malawi;
- Muammer Cakir, Head, Derivatives Market - VIOP, Borsa Istanbul, Turkey;
- Chris Sturgess, Director, Commodities, JSE, South Africa;
- Ismael Caram, Deputy CEO, Rosario Futures Exchange, Argentina;
- Patrick Kenny, SVP Client Relationships, CQG
- Louisjan Bonthuys, STT
Please download summary of the panel discussion here.