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  • ESMA Approves Moody’s Investors Service EMEA Limited As A Credit Rating Agency

    Date 24/11/2014

    The European Securities and Markets Authority (ESMA) has approved the registration of Moody’s Investors Service EMEA Limited, based in the UK, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 24th November 2014.

  • KDPW As A Numbering Agency Has Started To Assign FISN Codes

    Date 24/11/2014

    It may not be obvious for everyone that the Central Securities Depository of Poland (KDPW) is a numbering agency. However, it is a fact that KDPW is the only institution in Poland and one of few institutions in Europe to offer such a broad range of numbering services for financial market entities and instruments. As of November 2014, KDPW also issues FISN codes which provide a simple and standardised description of financial instrument characteristics.

  • HKEx’s After Hours Futures Trading Session Continues To Grow

    Date 24/11/2014

    HKEx is pleased that it set several records in After Hours Futures Trading session last Friday night, which are highlighted in red in the table below.

  • The Egyptian Exchange (EGX) Chairs With Unanimous Elections The Federation Of Euro-Asian Stock Exchanges (FEAS)

    Date 24/11/2014

    In unanimous and harmonious elections, The Egyptian Exchange (EGX) chairs The Federation of Euro-Asian Stock Exchanges (FEAS). The cel­ebration was carved, in Croatian capital, Zagreb, where The Federation of Euro-Asian Stock Ex­changes (FEAS) General Assembly announced the unanimous choice of Dr. Mohamed Omran the Egyptian Exchange (EGX) Chairman as chairman of the federation. EGX is the first Arab Stock Exchange to win this post; that was an­nounced during the 20th General Assembly meet­ings of the FEAS. Worth mentioning that since FEAS inception in 1995 till this nomination, Tur­key had been chairing the federation.

  • Central Counterparty Recovery And Resolution - Keynote Speech By Benoît Cœuré, Member Of The Executive Board Of The ECB, At Exchange Of Ideas #2 “Central Clearing – Guarantee Of Stability Or New Moral Hazard?” Organised By Eurex Clearing, London, 24 November 2014

    Date 24/11/2014

    Summary

    The mandatory use of central clearing is a relatively new regulatory tool for mitigating systemic risk in the OTC derivatives space. It has brought the central counterparties (CCPs) to the forefront of financial market regulation. It is therefore crucial for CCPs to have comprehensive and effective recovery plans, relying on a wide range of recovery tools, to continue providing their critical services also in a very severe crisis without requiring the use of resolution powers by authorities. Obviously the stability of CCPs primarily depends on the establishment and implementation of robust risk management framework. But CCPs are also in a unique position to set up efficient and comprehensive recovery plans as they can base them on contractual arrangements with members. But CCPs need to have appropriate procedures for managing conflicts of interest between stakeholders - it is vital to involve all those who would bear losses in the design of the recovery plan. And on the regulatory side, we need to make sure our approach is cautious and non-prescriptive at this stage. I am confident that CCPs, authorities and stakeholders will work together constructively to meet the ambitious objectives set out in the recent CPMI-IOSCO report.