Liquidnet targets a threefold increase in European business, and plans to bring in the new business from fund managers there. Eurex gets the green light to offer its full range of services to companies and people in South Korea. Singapore’s central bank considers discontinuing the Sibor interbank lending rate, which has been tainted by rate-rigging allegations.

International Securities Exchange rebrands itself and shifts direction toward ETFs in a bid to improve slumping volume. Financial hub Singapore is rattled by the new investigation into currency fixing allegations. LSE’s Turquoise platform announces that they, too, will be increasing trading fees as a way to squeeze more revenues from declining trading volume.

When Phillip Futures Inc. started accepting U.S. business from an office at the Chicago Board of Trade building in 2012, the company expanded its reach, which had already included Singapore, Malaysia, Hong Kong, Japan, Indonesia, Thailand, the United Kingdom, Australia, France and China.

“To be a global player, we needed to be in the U.S,” says Lynette May-Tjuen Lim, CEO of the U.S. office. “The U.S. was the missing piece for us.”

Phillip Futures is a subsidiary of privately owned PhillipCapital, which was established in 1975 in Singapore as a stockbroking firm. PhillipCapital has since diversified to offer a suite of financial services including brokering of futures, foreign exchange, equities, fixed income, bonds, unit trusts, real estate and insurance.

Robert Pickel, CEO of the International Swaps and Derivatives Association (ISDA), sat down with John Lothian News Editor-in-Chief Jim Kharouf to talk about regulatory reforms, swap rules recently passed by the CFTC, the cost of regulation and the global picture for OTC derivatives.

NYSE Euronext plans to spend $85 million over the next two years to create a London clearing house presence. Ex-MF Global employee Edith O’Brien probably won’t say much before Congress today, but she’s rumored to be looking for a testimony deal with the US Justice Department regarding what she knows about customer fund transfers. Singapore Exchange says co-president Gan is leaving, and announces changes to the management and structure of its business units. BATS’ Joe Ratterman gets a unanimous thumbs-up as CEO from the board, but not before losing his Chairman title.

Corporate bond investors find themselves managing liquidity issues as bank trading partners shed their holdings in advance of tighter regulations. Canada joins in the LIBOR price-fixing hunt. The US hears strident objections from overseas regarding the impending Volcker Rule, along with strident objections and support inside the country as well. Paul Volcker tells offshore worriers, “Seriously, dudes, chill,” using a somewhat more complete vocabulary.