This Week

• SEC charges quant manager for hiding computer code error

  The Securities and Exchange Commission charged AXA Rosenberg Group and two of its units with allegedly hiding an error in a computer model used to manage client assets, in the SEC's first case involving a coding snafu at a quantitative investment manager.

• CME's fourth quarter earnings decline

  CME Group reported yesterday a 3.2% decline in fourth quarter earnings, falling short of analyst estimates as the exchange company booked $59.9m (€44m) of charges, mostly related to tax rates.

• Agency brokers miss window of opportunity

  Agency brokers saw the collapse of Lehman Brothers as a fantastic opportunity to hit back at the bulge-bracket banks that had been taking their business for years.

• SEC proposes new regulatory regime for swaps trading

  The Securities and Exchange Commission voted to propose new rules for swaps trading platforms yesterday, moving forward with an effort to increase transparency following the financial crisis.

• US regulators approve NYSE to clear derivatives

  The prospect of an intensifying three-way battle over the biggest US futures market drew closer yesterday as regulators approved a new clearinghouse venture that will allow NYSE Euronext to challenge the dominance of CME Group in contracts linked to Treasurys.

• Chicago traders and exchanges gird for 'life-threatening' blizzard

  Chicago's exchange and trading sector was making final preparations yesterday to keep markets operating through a blizzard expected to dump up to two feet of snow on the city over the next 24 hours.

• Equities markets may be more transparent than they appear

  A new study of UK equities markets has revealed that most share trading is not hidden away privately between dealers but takes place on transparent, liquid platforms.

• Larger firms to pay for FSA’s £50m budget hike

  Investment banks are facing a significant increase in the fees they pay to the Financial Services Authority, the regulator revealed in its annual funding report today.

• BofAML joins Nasdaq Dubai's equity derivatives

  Bank of America Merrill Lynch has joined Nasdaq Dubai's equity derivatives market as its first general clearing member. The bank will now be able to clear the trades of other brokers as well as its own. Nasdaq Dubai's equity derivatives platform consists of futures listed on 21 individual companies in the United Arab Emirates and on the FTSE Nasdaq Dubai UAE 20 share index.

Last Week

• Old risks remain despite post-crisis shakeup

  For all the rhetoric about a new financial order and improvements made since the start of the financial crisis in 2008, many risks remain and it would take little to create a fresh crisis.

• NYSE Euronext bond trading venture to go live in March

  NYSE Euronext aims to launch a new bond trading effort in March after securing approval from US securities market regulators, according to the exchange company.

• High-speed traders dominate UK stock markets

  High-frequency trading now accounts for more than 75% of trading on the UK’s regulated stock markets, suggesting that “genuine investors” are being squeezed out of the market, according to the first known research on the subject.

• Battle lines drawn over commodities trading

  London traders are limbering up for a battle over the future of Europe’s biggest commodities market, as European politicians attempt to limit speculation in the trading of resources and foodstuffs.

• Chi-X takes number two spot for 2010

  Share-trading platform Chi-X Europe finished 2010 as the second largest trading venue in Europe, marking the first year it has held the overall number two spot.

• Optiver eyes Q3 derivatives trading launch

  A trading venue backed by Optiver, the Dutch marketmaking firm, is set to launch trading of derivatives in the third quarter of this year.

• Chi-East completes dark pool launch

  Alternative exchange Chi-East has completed the launch of its independent pan-Asian dark pool, two months after it first went live, in what is one of the most closely watched market structure developments in electronic trading this year.