News Centre

CME Rule 575 Market Abuse Solution Identifying Disruptive Activity Launched Ahead Of FIA Expo

Date 21/10/2014

R3COGNITION, London’s leading financial IT development powerhouse, has launched an innovative CME Rule 575 IT solution. Its market abuse solution enables derivatives trading organisations to pinpoint the disruptive practices prohibited by the new CME rule that came into force on 15 September 2014. R3COGNITION is launching its solution to the North American market at the 30^th Annual Futures & Options Expo in Chicago.

Office Of Municipal Securities Director John Cross To Leave SEC

Date 21/10/2014

The Securities and Exchange Commission today announced that John J. Cross III, Director of the Office of Municipal Securities, will leave the agency in November.

As Many As 70% Of Buy-Side Investors Expect Their Futures Trading Volumes To Increase During Next 12 Months, Says TABB Group - Buy-Side Firms Say Futurization Of Swaps Will Gain Additional Traction In 2015, That Rising Volatility Positively Influences Futures Trading Activities

Date 21/10/2014

With the derivatives markets working through new rules, market structure changes and a wave of uncertainty, many across the capital markets industry believe the futures markets will benefit. To learn more, TABB Group conducted a survey in September 2014 of more than 40 traditional asset managers (long only, mutual funds, pension funds and insurance companies), hedge funds, commodity trading advisors (CTAs) and proprietary trading firms on recent trends impacting futures exchanges and futures commission merchants (FCMs).

European Commission Adopts Detailed Rules On Contributions Of Banks To Resolution Funds

Date 21/10/2014

The European Commission has today adopted a delegated act and a draft proposal for a Council implementing act to calculate the contributions of banks to the national resolution funds and to the Single Resolution Fund respectively (IP/13/674).

Nasdaq Lists First Trust Eurozone AlphaDEX(R) ETF - Alternative Strategy To Active Management When Seeking Alpha

Date 21/10/2014

Nasdaq today announced that First Trust will list one new exchange-traded fund, First Trust Eurozone AlphaDEX® ETF (Symbol: FEUZ), on The Nasdaq Stock Market. FEUZ will begin trading on Nasdaq, Wednesday, October 22, 2014.

UK's Financial Conduct Authority: Temporary Prohibition Of Short Selling - Portugal Telecom - Extension

Date 21/10/2014

The Financial Conduct Authority (“FCA”) notifies that it extends the prohibition of short selling in the following instrument applied on 21 October 2014 under Article 23 (2) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012.  This follows a decision made by the Portuguese Comissão do Mercado de Valores Mobiliários (CMVM).

OCC: Comptroller, Thomas J. Curry, Makes Statement On The Dodd-Frank Act Credit Risk Retention Final Rule

Date 21/10/2014

Comptroller of the Currency Thomas J. Curry today discussed the Dodd-Frank Act Credit Risk Retention Final Rule at a meeting of the Board of Directors of the Federal Deposit Insurance Corporation.

Malaysia Singled Out For Consistent Improvement

Date 21/10/2014

Malaysia has retained its 4th position in the CLSA Limited (CLSA) Asian Corporate Governance Association (ACGA) Corporate Governance Watch 2014 Report and obtained higher scores improving from 55 to 58 points, closing the gap with the top scorer.

European Commission: Statement By Vice President Joaquín Almunia On 2 Cartel Decisions Concerning Swiss Franc Related Derivatives

Date 21/10/2014

Today the European Commission has found and sanctioned two distinct cartels in the financial sector. In these two decisions, we have imposed total fines of about 94 million euros on four major international banks who violated EU antitrust rules. In both cases, these banks agreed to settle these cases with the Commission, as foreseen in our procedures.

Antitrust: European Commission Settles Cartel On Bid-Ask Spreads Charged On Swiss Franc Interest Rate Derivatives; Fines Four Major Banks € 32.3 Million

Date 21/10/2014

(See also Statement by Commission Vice-President Joaquín Almunia.)

The European Commission has found that four international banks, RBS, UBS, JP Morgan and Crédit Suisse, operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area (EEA). The Commission imposed fines worth a total of € 32 355 000. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. All four banks received a 10% reduction for agreeing to settle the case with the Commission.