The SEC’s Robert Khuzami is said to be planning his exit in the near future; possibly as early as next month. Exchanges owned by NYSE Euronext in Europe could attract interest from local rivals as part of the industry shift related to the N-ICE merger. Morgan Stanley takes a stake in Eris Exchange, as standardized derivatives trading looks increasingly like a growth area.

NYSE Euronext starts the clock on the creation of a new Europe-wide exchange targeted at small and medium sized companies. Eris Exchange plans to cut a large chunk of its interest-rate swap contract margin requirements to better compete with rival CME Group. Standard & Poor’s notes that volume in the exchange sector has been a bit off of late, and believes that those volume problems could continue into next year. In First Read today, we have new MarketsWiki.tv interviews from the recent WMBAA SEFCON III convention; take a look inside to see industry leaders speak on a variety of regulatory topics.

Chicago’s new Eris Exchange gets backing from State Street and Fidelity. Gary Gensler of the CFTC tells the EU parliament that they should either rework LIBOR, or just throw it away and start over.  Banks in Sweden and Norway, relatively unharmed by financial crises and shocks shaking the rest of the world, strive to keep up with increasing foreign inflows as investors seek safe havens for their money.

Britain’s FSA steps harder on the feet of banks in an attempt to get them to release customer money following MF Global’s demise.  Eris Exchange reaches an agreement to distribute its SwapBook data via CME Group’s Market Data Platform.  Despite calls to just throw away the Volcker Rule and start over, or not at all, regulators working on the issue insist that in the end, they’ll have a viable solution using what they’ve already got so far.  In today’s top box, JLN’s Nicole Rohr supplies a Five Minutes interview with Alice Botis of Fidessa; and Hernan Arellano and Felipe Gazitúa Undurraga of Chilean broker IM Trust.