nyuuzyou/wikis huggingface dataset:
Apex Clearing Solutions LLC

Apex Clearing Solutions LLC is an independent clearing joint-venture between Peak6 Investments and Penson Financial Services. The firm plans to acquire Penson's customer accounts and clearing contacts as well as $90 million of its liabilities and net assets to cover regulatory capital requirements. Apex, privatly held and functioning as a clearing house, aims to increase stability in the markets by mitigating both firms' risk exposure. Peak6 will provide capital, the management team, day-to-day operational oversight, and risk management discipline necessary to run the business. 
== History ==
Peak6 Investments and Penson Worldwide Inc. Announced the creation of Apex in June of 2012. The move by Penson, in conjunction with the sale of its futures division to Knight Capital signifies the firms desire to exit the futures space. 
== Key People ==
Danny Rosenthal, CEO
== References ==
Category:Clearing Houses
Category:Futures Commission Merchants
Category:Penson
Application-specific integrated circuit (ASIC)

An application-specific integrated circuit (ASIC) is one of a class of microelectronic circuits or chips designed for a particular use, such as running the hash algorithms used in bitcoin mining. As implied by its name, an ASIC cannot perform any other function than the one for which it was designed. An ASIC cannot be programmed to follow alternate instructions. 
Bitcoin mining is largely performed in corporate-owned datacenters, using ASICs in the nodes that aggressively optimize energy efficiency to unprecedented levels. 
When BTC.com, a bitcoin mining pool, reported in September 2019 that the two week bitcoin hashing rate had reached record levels, the surge was attributed to the introduction of a half-a-million new models of ASIC miners over the preceding summer months. The introduction of new models from major ASIC manufacturers including Bitmain, Canaan, InnoSilicon and MicroBT coincided with the abundance of hydroelectricity based on the summer rains in southeastern China.
 
== References ==
Category:fintech
Category:digital assets
Category:decentralized applications
Category:distributed ledgers
Category:definitions
Category:cryptocurrency
Category:CryptoMarketsWiki
Application programming interface

An API, or application programming interface, is an interface that facilitates the exchange of messages or data between different software applications. Common messaging structures in futures and options include the Financial Information Exchange protocol, more commonly known as a FIX protocol.
=Types of API Connections=
==Front Office==
In front office futures and options trading, there are two main purposes to any API interface, the provision of market data on which decisions can be made and order submission. Exchanges have implemented different versions and technologies for API access to their electronic markets. In recent years, however, there has been a consolidation of technologies used by exchanges.
*Globex - The Globex system employed by the Chicago Mercantile Exchange has also grown to include the provision of data and order routing for NYMEX, Comex & now the Chicago Board of Trade, Kansas City Board of Trade and Minneapolis Grain Exchange. Order submission on One Chicago is also still available via the Globex Interfaces (however, Market Data is not).
*Connect - The Connect API pioneered by the LIFFE exchange was also employed by the Chicago Board of Trade until the recent merger with Chicago Mercantile Exchange. The Tokyo International Financial Futures Exchange (TIFFE / TFX) also has implemented this technology base.
* VALUES API - The Values API was developed by Deutsche Borse and is used for that family of exchanges including Eurex, Xetra and other hosted exchanges and contracts on the Eurex platform.
==Clearing APIs==
Clearing APIs offer access to trade feeds and then processes such as allocation and acceptance to clearing houses.
== References ==
Category:Software
Category:Definitions
Category:API
Applied Research Company

The Applied Research Company is a financial applicaton design firm that specializes in applications for analyzing exchange-traded and OTC financial instruments, including bonds, commodities, futures and options. It is owned by John C. Nelson, who is the President of Applied Research. 
ARC was founded in 1985 and has helped a variety of organizations create user-centered solutions. They are involved from product concept and design to training and marketing. 
Their clients include software providers, brokers, proprietary trading firms, and financial exchanges throughout the world. 
== External Links ==
*www.OptionWorks.com
Category:MarketsWiki Sponsors
Category:Applied Research Company
Approved Delivery Facility

An Approved Delivery Facility (ADF) is a vital component of the commodities and futures trading ecosystem. It is an authorized entity, such as a bank, stockyard, mill, storehouse, plant, elevator, or other depository, officially recognized and sanctioned by a commodity exchange. Its primary purpose is to serve as a secure location for the storage and delivery of physical commodities that underlie futures contracts.
==Overview==
Commodity exchanges play a crucial role in facilitating the trading of futures contracts. These contracts are financial instruments that derive their value from an underlying physical commodity, such as agricultural products, energy resources, precious metals, or other tangible goods. When traders engage in commodity futures contracts, they make agreements to buy or sell the underlying physical commodity at a predetermined future date and price.
To ensure the integrity and transparency of these transactions, commodity exchanges establish strict rules and standards for the storage and delivery of the underlying commodities. This is where the Approved Delivery Facility comes into play. An ADF is carefully vetted and authorized by the exchange to store and handle the physical commodities associated with the futures contracts traded on that exchange.
==Functions of an Approved Delivery Facility==
An ADF serves several critical functions in the commodities and futures markets:
Safe Storage: ADFs provide secure storage facilities for physical commodities. This is essential to prevent spoilage, theft, or damage, ensuring that the quality and quantity of the commodity remain intact until delivery.
Quality Control: ADFs are responsible for verifying the quality and grade of the stored commodities. This is especially important for agricultural products where quality standards can significantly affect the contract's value.
Delivery Point: ADFs often serve as designated delivery points where traders can physically take possession of the underlying commodity if they hold a futures contract that has reached its delivery date.
Inventory Management: These facilities maintain accurate records of the commodities stored and their owners, facilitating the tracking and transfer of ownership when futures contracts are settled through physical delivery.
Compliance and Oversight: ADFs are subject to regulatory oversight by the exchange and relevant authorities to ensure adherence to industry standards and regulations.
==Authorization Process==
Becoming an Approved Delivery Facility is not a simple task. Exchanges impose stringent criteria and requirements that entities must meet to gain this status. Some common criteria include:
Demonstrated track record of operational excellence.
*Compliance with safety and environmental regulations.
*Adequate storage capacity.
*Transparency in reporting and record-keeping.
*Financial stability and security measures.
*Proximity to the delivery location specified in the futures contract.
*Entities seeking ADF status must undergo a thorough evaluation and approval process by the exchange's regulatory body.
== References ==
Category:Deliveries
April Day

__NOTOC__ 
April Day was appointed head of capital markets at the Association for Financial Markets in Europe (AFME) in January 2025. She was promoted to the role after 12 years at AFME, where she had served as head of equities. As part of that role, she oversaw equity capital markets, trading and post-trade activities. Day has extensive experience in investment banking and capital markets. She succeeds Rick Watson, who announced his retirement in July 2024.
== Background ==
Earlier in her career, Day held senior roles at Dresdner Kleinwort, as well as serving as director of equity sales at Panmure Gordon.
== Education ==
She holds a Legal Practice Certificate from the Oxford Institute of Legal Practice and an LLB (Hons) in Business Law.
== References ==
Aquila

Aquila was a Kansas City, Mo., based electric and natural gas distribution company that serves approximately 900,000 customers in five Midwestern states (Colorado, Iowa, Kansas, Nebraska and Missouri.) The company also owned and operated generation assets.
In February 2007, the company announced the potential sale of its Missouri electric operations to Great Plains Energy, and the sale of its Colorado electric operations and its natural gas operation in Colorado, Iowa, Kansas and Nebraska to Black Hills Corp. of South Dakota These transactions are expected to be completed in 2008.
At the beginning of 2007, Aquila's assets totaled $3.4 billion, sales were $1.4 billion and net income was $23.9 million.
On April 1, 2007, Aquila completed the sale of its Kansas electric properties to Mid-Kansas Electric Company (MKEC), a coalition of six consumer-owned cooperatives that also own Sunflower Electric Power Corporation, a regional generation and transmission service provider. During 2006, the company sold its natural gas properties in Michigan, Minnesota and Missouri. 
== References ==
Arab Federation of Capital Markets

The Arab Federation of Capital Markets is the Arab industry group for exchanges and clearing houses (CSD’s), and financial institutions around the Arab regions (GCC, Levant and Arab African countries).
The Arab Federation of Capital Markets was established originally in 1979 as the Arab Federation of Exchanges, bur rebranded in 2021 as the AFCM. The AFCM was created to be the guiding body for the Arab stock exchanges. The headquarters is in Beirut, Lebanon. 
The AFCM includes 17 Arab exchanges and 3 clearing houses and multiple members of affiliate organizations from around the Arab regions. The purpose of the federation was to contribute to the “development of regulations and promoting harmonized and proactive legislations, and exchanging viewpoints and providing opportunities for cooperation among members”
== Mission ==
The Federation’s Vision:
*Facilitating the exchange of views and providing collaborative opportunities for the members
*Knowledge transfer through workshops and conferences
*Developing the legislations in the Arab financial markets
*Resolving potential disputes
*Cooperating with regional and international federations
*Increasing the value of the Arab stock markets
== Products and Services ==
== Membership ==
== Key People ==
=== Board of Directors ===
*Eng. Khalid Al Hussan, Chairman of the Board, Saudi Stock Exchange (Tadawul)
*Dr. Mohamad Farid Saleh, Member, The Egyptian Exchange
*Mazen Wathaifi, Member, Amman Stock Exchange
*Sheikh Khalifa Ebrahim Al-Khalifa, Member, Bahrain Bourse
*Dr. Ghaleb Mahmassani, Member, Beirut Stock Exchange
*Tarek Senhaji, Member, Casablanca Stock Exchange
*Khaldoun Al-Tabtabaie, Member, Kuwait Clearing
*Khaled Rashed, Member, Misr for Central Clearing, Depository and Registry
=== ACFM Staff ===
*Rami El Dokany, Secretary General
*Reem Farhat, Business Development Associate
*Sally Yassin, Training and Development Specialist
*Tony Chahine, Finance Manager
*Dr. Fadi Kanso, Head of Research
*Ribal Shamseddine, Graphic Designer | Digital Marketing Specialists
== References ==
Category:Industry Organizations
Arab Federation of Exchanges

The Arab Federation of Exchanges ("AFE"} is an industry organization created in 1979 to connect Arab stock exchanges. It was rebranded in 2021 as the Arab Federation of Capital Markets. 
The federation's mission is to create a transparent environment for the Arab capital markets, develop market members and reduce barriers of securities trading across the countries. It aims to harmonize laws and regulations in Arab countries and adopt technologies for trading and clearing systems.
The board consists of all stock exchanges and clearing houses of the Federation and has the highest authority in the AFE.
The Federation Secretariat is the executive organization of the Federation, headed by the Secretary General, who has the financial and administrative powers.
The AFE holds an annual conference. The head of the stock exchange that holds the annual conference is elected the Federation's chairman of the year.
== History ==
Members of the Federation are exchanges, clearing and settlement companies and brokerage firms. The federation headquarters is located in Beirut, Lebanon.
== Products and Services ==
== Membership ==
*Abu Dhabi Securities Exchange (ADX)
*Amman Stock Exchange (ASE)
*Bahrain Bourse (BHB)
*Beirut Stock Exchange (BSE)
*Casablanca Stock Exchange (CASA)
*Damascus Securities Exchange (DSE)	Dubai Financial Market (DFM)
*Egyptian Exchange (EGX)
*Erbil Stock Exchange (ESX)
*Iraq Stock Exchange (ISX)
*Khartoum Stock Exchange (KHARTOUM)
*Boursa Kuwait	
*Libyan Stock Market (LSM)
*Muscat Securities Market (MSM)
*Palestine Exchange (PEX)
*Qatar Stock Exchange (QSE)
*Saudi Stock Exchange (TADAWUL)
*Tunis Stock Exchange (BVMT)*
== Key People ==
The AFE executive committee is made up of 
*Mohamed Farid Saleh, Chairman, Arab Federation of Exchanges, Executive Chairman, The Egyptian Exchange
*Nader Azar, Chief Executive Officer, Amman Stock Exchange
*Karim Hajji, Chief Executive Officer, Casablanca Stock Exchange
*Karim Hajji, Chief Executive Officer Casablanca Stock Exchange
*Mohamed Abdel Salam, Chairman Misr for Central Clearing Depository and Registry (MCDR)
== References ==
Category:Industry Organizations
Category:Lebanon
Aram Shishmanian

__NOTOC__ 
Aram Shishmanian became the CEO for the World Gold Council in January of 2009, replacing James E. Burton.
== Background ==
Before becoming CEO for WGC, Aram Shishmanian had spent his entire career at Accenture where he has held a number of senior positions, culminating in becoming a senior partner and head of the global financial markets practice. He currently serves on the Board of several major organizations.
Subsequently, he was appointed as a non-executive director of Resolution plc, the senior non-executive director of Victoria plc, a non-executive director of a Swiss based asset-management company and several other companies.
Prior to joining the World Gold Council he was an independent member of the International Executive of Hogan Lovells LLP, one of the leading global law firms.
== Education ==
Shishmanian holds a BA in economics and an MBA.
== References ==
Category:World Gold Council
Category:World Gold Council Executives
Arbageddon

Arbageddon refers to a significant event in the merger arbitrage market that occurred in 2014, when multiple high-profile merger deals collapsed simultaneously, causing substantial losses for merger arbitrage investors. The term is a portmanteau of "arbitrage" and "Armageddon," reflecting the severity of the market impact on merger arbitrage strategies.
== History ==
The term "Arbageddon" gained prominence in October 2014, when two major merger deals collapsed within a short period, causing significant losses for merger arbitrage investors. This event was exacerbated by the announcement from President Barack Obama's administration that they would revisit rules on tax-driven mergers, also known as tax inversions.
=== Key Events ===
# AbbVie-Shire Deal Collapse: The most significant deal to fall through was AbbVie's planned $55 billion acquisition of Shire, a Jersey-registered pharmaceutical company. When the U.S. government changed rules on taxing overseas profits, the incentive for this tax inversion deal evaporated, leading AbbVie to withdraw from the transaction. This announcement caused Shire's share price to drop by more than 25%. 
# Other Tax Inversion Deals: The AbbVie-Shire collapse had a contagion effect on approximately a dozen other tax inversion-focused deals that were yet to close, as well as the broader merger arbitrage market.
# Regulatory Changes: President Obama's administration announced plans to revisit rules on tax-driven mergers, which added uncertainty to the market and contributed to the collapse of several deals.
== Impact on Merger Arbitrage ==
The events of "Arbageddon" highlighted several key risks in merger arbitrage investing:
# Fat Left-Tail Risk: The collapse of large deals can have a disproportionate impact on merger arbitrage indices and funds.
# Contagion Risk: Multiple deals can fail simultaneously due to shared external factors, such as regulatory changes.
# Systemic Risk: Changes in the business environment can affect multiple transactions across the market, leading to correlated failures.
# Inadequate Risk Compensation: In some cases, the spread between the market price and the announced acquisition price may not adequately compensate for the risk of deal failure.
== Lessons Learned ==
The "Arbageddon" event underscored the importance of active management and thorough risk assessment in merger arbitrage strategies. It demonstrated that relying solely on diversification and passive approaches may not provide adequate protection against systemic risks in the merger arbitrage market.
== Legacy ==
The term "Arbageddon" has since been used to refer to periods of significant stress or multiple deal failures in the merger arbitrage market. It serves as a reminder of the potential risks involved in merger arbitrage strategies and the importance of careful deal selection and risk management.
== References ==
Category:Mergers and Acquisitions
Category:Arbitrage
Category:Financial Markets
Category:Risk Management
Category:Investment Strategies
Archelon Group

The Archelon Group is an options market maker and proprietary trading firm with a focus on technology. They provide market making services for equities, equity options, index futures and interest rate products in the US, Europe and Korea. They also provide direct market access to individual traders and institutions. 
== History ==
The Archelon Group was founded in the 1980's and has since expanded to 24 hour global trading operations. 
== Products and Services ==
The Archelon Group is a member of the following exchanges: 
*NYSE AMEX
*CBOE
*CBOT
*CME
*NYSE Arca
*BOX
*PHLX
*ISE
*NYSE Euronext
*NYSE Liffe
*Xetra
*Swiss Exchange
*LSE
*KSE
== Key People ==
*John Koltes III, Owner
== References ==
Archipelago

Archipelago was one of the original electronic communications networks (ECNs) approved by the SEC. It displayed prices and sizes of public stock order, but unlike its bigger competitors Instinet and Island ECN, it did so for free. Archipelago merged with the Pacific Stock Exchange in late 2000 to create a new stock exchange, Archipelago Securities Exchange, that would compete with Nasdaq and the New York Stock Exchange (NYSE).
It was acquired by the NYSE Group in 2006.
It was taken public in a move that created a parent company, Archipelago Holdings. 
== History ==
Archipelago began as a venture between Terra Nova Trading LLC, a day trading firm in Chicago, and Townsend Analystics.
== Products and Services ==
== Key People ==
== References ==
Category:Archipelago
Archipelago Holdings

Archipelago Holdings owned the Archipelago Securities Exchange, one of the first electronic trading platforms to operate a national stock exchange. The company was later acquired by the New York Stock Exchange (NYSE) to form the NYSE Group.
 
== History ==
Archipelago was co-founded in Chicago in 1997 by Gerald D. (Jerry) Putnam, founder of daytrader TerraNova Trading LLC, and Stuart Townsend, founder trading software developer Townsend Analytics Ltd. The Archipelago Securities Exchange merged with the Pacific Stock Exchange in 2000 and later became a competitive threat to both the NYSE and NASDAQ.
In 2005 the NYSE announced a plan to buy Archipelago Holdings and concurrently form a demutualized, publicly-traded company then called NYSE Group and now known as NYSE Euronext. The deal gave Archipelago 30% of the shares in NYSE Group, valuing it at around $850 and the combined group at around $3 billion based on 2005 prices. The original Archipelago Securities Exchange is now called NYSE Arca.
== Key People ==
Former Archipelago Holdings CEO and Chairman Gerald D. Putnam later served as president and co-chief operating officer at NYSE Euronext and is currently senior advisor of Corporate Strategy, Technology Integration & Derivative Products with the group.
== References ==
Category:NYSE Euronext
Category:Archipelago
Argent

Argent is a London, U.K. based startup that develops mobile applications for cryptocurrency. Its Argent Wallet is an Ethereum smart contract wallet with built-in recovery tools and accessibility features. It is available for both iOS and Android platforms. 
Argent Wallet uses a unique identifier tied to the mobile device as well as back-up recovery methods established with either Argent itself or the wallet user's friend or relative. According to CoinDesk, an online news service, this design is unique compared to similar mobile wallets with private keys. It is touted as a very convenient on-ramp into decentralized finance or "DeFi." 
Argent was financed with $16.2 million in venture capital funding. The latest funding came from an infusion of $12 million on March 9, 2020, which was led by the Silicon Valley venture investor Paradigm, spearheaded by Coinbase co-founder Fred Ehrsam, Compound founder Robert Leshner, and Index Ventures. The London-based wallet startup has now raised $16 million since it was founded in December 2017. 
== References ==
Category:CryptoMarketsWiki
Argentina Clearing y Registro S.A.

Argentina Clearing and Registration is an entity authorized by the National Securities Commission of Argentina (CNV) that offers custody, registration, settlement and payment services to people who invest in the capital markets. 
The organization's stated purpose is to create sustainable value through registration, clearing, settlement, guarantee and custody services for Negotiable Securities and OTC contracts in the markets and stock exchanges of Argentina and the region.
Argentina Clearing y Registro S.A. is a Primary Member of CCP Global, the global association of Central Counterparties (CCP), which represents 42 members who operate more than 60 individual CCPs across EMEA, the Americas and the Asia-Pacific region. 
== Products and Services ==
== Key People ==
*Juan Fabrizio Silvestri President
*Sebastian Martin Bravo Vice President
*Juan Franchi Secretary
*Nicholas Victor Baroffi General Manager
== References ==
Category:CCP Global Primary Members