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CFTC’s Division Of Market Oversight Issues Guidance For Swap Execution Facilities On The Calculation Of Projected Operating Costs

Date 23/04/2015

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Market Oversight (DMO) today issued Guidance to Swap Execution Facilities (SEF) regarding the calculation of projected operating costs for purposes of complying with the financial resource requirements under SEF Core Principle 13 and Commission Regulation 13.1303. This guidance follows two no-action letters providing relief in connection with erroneous swap trades and swap trade confirmations DMO issued yesterday (April 22, 2015).[See CFTC Press Release 7158-15]
EnterNext Invites Seven Innovative Companies To Present Their Business To Connected Technology Investors And Analysts

Date 23/04/2015

EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs[1],is organising its first EnterNext Pitch Tech Day on Friday, April 24. The event brings together entrepreneurs, investors and analysts to exchange views and gain fresh insights into innovative companies and their various activities. This first edition of Pitch Tech Day is dedicated to connected technologies.
Remarks Of CFTC Chairman Timothy Massad Before The ISDA 30th Annual General Meeting

Date 23/04/2015

Thank you for inviting me today, and I thank Eric for that kind introduction. It’s a pleasure to be here.
ISDA: End Users Seeing Fragmentation, Reduced Liquidity And Higher Costs For Derivatives

Date 23/04/2015

More than half of derivatives end users think markets are fragmenting along geographic lines as a result of regulatory change, and a majority of those think this is having a negative impact on their ability to manage risk, according to a new survey published today by the International Swaps and Derivatives Association, Inc. (ISDA).
Fidessa Named Best Sell-Side Front-Office Execution Platform

Date 23/04/2015

Fidessa group plc (LSE: FDSA) today announced that its sell-side trading platform has been named Best Sell-Side Front-Office Execution Platform at the third annual Sell-Side Technology Awards, hosted by Waters Technology magazine. These awards recognize the leading technologies and third-party vendors in the sell-side financial technology arena.

US Justice Department: Deutsche Bank's London Subsidiary Agrees To Plead Guilty In Connection With Long-Running Manipulation Of LIBOR

Date 23/04/2015

DB Group Services (UK) Limited, a wholly owned subsidiary of Deutsche Bank AG (Deutsche Bank), has agreed to plead guilty to wire fraud for its role in manipulating the London Interbank Offered Rate (LIBOR), a leading benchmark interest rate used in financial products and transactions around the world. In addition, Deutsche Bank entered into a deferred prosecution agreement to resolve wire fraud and antitrust charges in connection with its role in both manipulating U.S. Dollar LIBOR and engaging in a price-fixing conspiracy to rig Yen LIBOR. Together, Deutsche Bank and its subsidiary will pay $775 million in criminal penalties to the Justice Department.
BSE: Revision Of Stocks In Group ‘A’

Date 23/04/2015

The Exchange has announced on April 20, 2015 list of stocks eligible for ‘A’ Group with effect from May 04, 2015. The notice has stated stocks moving out of ‘A’ group and stocks coming in the ‘A’ Group.
Deutsche Bank To Pay $2.5 Billion, Terminate And Ban Individual Employees, Install Independent Monitor For Interest Rate Manipulation - Widespread Effort By Bank Employees To Manipulate Benchmark Interest Rate Submissions For LIBOR, EURIBOR, TIBOR - Deutsche Bank Employee: This "Is A Corrupt Fixing And DB Is Part Of It!" - Deutsche Bank Employee Seeking To Obtain Lower Rate: "I’m begging u, don’t forget me… pleassssssssssssssseeeeeeeeee… I’m on my knees…"

Date 23/04/2015

Benjamin M. Lawsky, Superintendent of Financial Services, announced today that Deutsche Bank will pay $2.5 billion, terminate and ban individual employees who engaged in misconduct, and install an independent monitor for New York Banking Law violations in connection with the manipulation of the benchmark interest rates, including the London Interbank Offered Bank ("LIBOR"), the Euro Interbank Offered Rate ("EURIBOR") and Euroyen Tokyo Interbank Offered Rate ("TIBOR") (collectively, "IBOR").
Deutsche Bank To Pay $800 Million Penalty To Settle CFTC Charges Of Manipulation, Attempted Manipulation, And False Reporting Of LIBOR And Euribor - The Fine Imposed On Deutsche Bank Represents The Largest Fine In CFTC’s History - With Today’s Action, The CFTC Has Imposed Over $4 Billion In Penalties Against 13 Banks And Brokers To Address LIBOR And FX Benchmark Abuses

Date 23/04/2015

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order againstDeutsche Bank AG (Deutsche Bank) bringing and settling charges that Deutsche Bank routinely engaged in acts of false reporting and attempted manipulation and, at times, succeeded in manipulating the London Interbank Offered Rate (LIBOR) for U.S. Dollar, Yen, Sterling, and Swiss Franc, and the Euro Interbank Offered Rate (Euribor), interest rate benchmarks critical to the U.S. and global financial markets. Deutsche Bank is also charged with aiding and abetting, at times, the attempts of traders at other banks to manipulate Yen LIBOR and Euribor. The CFTC Order finds that Deutsche Bank, through its traders and benchmark submitters, engaged in this manipulative conduct to benefit cash and derivatives trading positions that were priced off of LIBOR or Euribor.
Deutsche Bank Fined £227 Million By Financial Conduct Authority For LIBOR And EURIBOR Failings And For Misleading The Regulator

Date 23/04/2015

The Financial Conduct Authority (FCA) has handed Deutsche Bank AG (Deutsche Bank) a £227 million ($340 million) fine, its largest ever for LIBOR and EURIBOR-related (collectively known as IBOR) misconduct. The fine is so large because Deutsche Bank also misled the regulator, which could have hampered its investigation.