News Centre

UK's Serious Fraud Office: First LIBOR Defendant On Trial Found Guilty

Date 03/08/2015

Tom Hayes, the first individual to be charged and stand trial in the UK as a result of the SFO's ongoing criminal investigation into the manipulation of LIBOR, has been convicted and sentenced at Southwark Crown Court today.

UAE's Securities and Commodities Authority Issues First Securities Lending And Borrowing Agent Approval

Date 03/08/2015

As part of its sustained efforts to develop local capital markets and meet the needs of investors and all strategic partners, the Securities and Commodities Authority (SCA) granted the National Bank of Abu Dhabi (NBAD) approval to engage in securities lending and borrowing activities. NBAD is the first to receive this crucial approval to undertake such activities within the UAE capital markets, having satisfied all of the approval conditions and requirements as set by SCA and stipulated under the SCA Board Decision No. (47) of 2012 concerning Regulations on Securities Lending and Borrowing.

Memorandum Of Understanding Between The Egyptian Exchange And The General Authority For Investment To Support The SMEs In Upper Egypt

Date 03/08/2015

OTCGH'S EOXLive Reaches 59 Percent Of Natural Gas Options Market Volume

Date 03/08/2015

OTC Global Holdings (OTCGH), the leading independent commodities interdealer broker, announced today that on  July 31, 2015 its EOXLive platform represented 59 percent of CME options volume on the NYMEX Henry Hub natural gas benchmark. The volume represented 82,338 contract sides.

Japan Exchange Group - Trading Overview In July 2015

Date 03/08/2015

Japan Exchange Group released Trading Overview in July 2015.

Moscow Exchange: Risk Parameters Change For Non-Principal Futures On Aug 3, 2015

Date 03/08/2015

According to Item 8 of the Principal and Non-principal Futures Listing Methodology (approved by the NCC Management Board on May, 29 2014), Xi parameters for non-principal futures will be changed on Aug 3, 2015 at 7 p.m. (MSK).

FSB-IAIS Workshop On Compensation Practices In The Insurance Sector

Date 03/08/2015

The FSB and IAIS organised in Washington DC on 12 May 2015 a workshop on compensation to share experiences and discuss best practices and the implementation of the FSB Principles and Standards for Sound Compensation Practices in the insurance sector. Industry participants noted that risk alignment of compensation is a common practice in the insurance industry and emphasized the importance of sound risk management and focus on internal controls. Participants discussed the importance of robust governance frameworks of compensation policies, and the role of compensation in supporting a sound risk culture at insurers. Officials from the FSB Compensation Monitoring Contact Group, IAIS Governance Group and senior executives from internationally active insurance companies participated in the workshop.

ITG Announces Management Changes - Also Announces Accelerated Release Of Second Quarter 2015 Earnings

Date 03/08/2015

ITG (NYSE:ITG), a leading independent execution broker and research provider, today announced that it has replaced Bob Gasser as its chief executive officer with Jarrett Lilien, a member of the ITG board and the former president and chief operating officer of E*TRADE Financial, effective immediately.

Federal Reserve Governor Jerome H. Powell, At The The Brookings Institution, Washington, D.C., August 3, 2015, Structure And Liquidity In Treasury Markets

Date 03/08/2015

I'm very pleased to be here to discuss the current structure of the Treasury markets. My involvement with these markets dates back to the early 1990s, when I served as Under Secretary of the Treasury for Finance. Some of you will recall the Salomon Brothers auction bidding scandal that broke in the summer of 1991. That event required those of us with oversight responsibilities to do a thorough evaluation of the structure of the primary Treasury market, and ultimately to propose a series of reforms. As part of that process, we put together a public conference to consider further reforms to Treasury auction procedures, with the participation of regulators, academics, and the financial sector. Some of the ideas that came out of that conference eventually led to changes in the way primary auctions were conducted, changes that I believe were beneficial to the efficiency and integrity of the Treasury market. The issues we are discussing today relate to the secondary market rather than to the auctions. Although the Treasury market remains deep and resilient, there are nonetheless reasonable questions as to whether market functioning can be improved.

Former Traded Tom Hayes Found Guilty Of Rigging Libor - Jailed For 14 Years

Date 03/08/2015

Tom Hayes, a British former star trader at UBS and Citigroup, has been found guilty of eight counts of conspiring to rig Libor benchmark interest rates.