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  • CFTC Charges J.P. Morgan Securities LLC With Repeatedly Submitting Inaccurate Large Trader Reports And Imposes A $650,000 Civil Monetary Penalty

    Date 29/07/2014

    The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against J.P. Morgan Securities LLC (JPMS), a wholly-owned subsidiary of JPMorgan Chase & Co. and a CFTC-registered Futures Commission Merchant (FCM), for submitting inaccurate reports to the CFTC relating to the required reporting of positions held by certain large traders whose accounts are carried by JPMS. The reporting violations occurred despite the CFTC notifying JPMS of numerous errors in its reports. The CFTC Order requires JPMS to pay a $650,000 civil monetary penalty to address its unlawful conduct.

  • DTCC Collaborates With The Industry To Launch New Client Data And Documentation Utility

    Date 29/07/2014

    • New industry solution, Clarient Entity Hub, to provide centralized services for all client data and documents needed to satisfy internal on-boarding and help firms meet broader related regulatory requirements including Know Your Customer (KYC), Foreign Account Tax Compliance Act (FATCA), European Market Infrastructure Regulation (EMIR) and Wall Street Reform and Consumer Protection Act (Dodd-Frank)
    • Six founder banks and DTCC to deliver a comprehensive solution, combining innovative new technology with existing DTCC capabilities in the client reference data space

  • NASDAQ OMX To Provide SMARTS Integrity Market Surveillance Platform To trueEX Group

    Date 29/07/2014

    The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) andtrueEX Group LLC, a Commodity Futures Trading Commission (CFTC)-regulated exchange for interest rate swaps, have announced a five-year partnership during which NASDAQ OMX will provide the SMARTS Integrity market surveillance platform to trueEX. The solution is now live and monitors both trueEX's Designated Contract Market (DCM) and its Swap Execution Facility (SEF).

  • HKFE Announces Revised Margins For Futures Contracts

    Date 29/07/2014

    Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Friday, 1 August 2014, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.

  • Platts Report: China Oil Demand Rose 2.7% In June Versus A Year Ago - June Demand Up 8.6% From May - Above 10 Million Barrels Per Day 2nd Time This Year

    Date 29/07/2014

    China's apparent oil demand* in June turned directions from May and climbed  2.7% versus the same month a year ago to 41.94 million metric tons (mt) or an average 10.25 million barrels per day (b/d), according to a just-released Platts analysis of Chinese government data.  On a month-over-month basis, apparent oil demand was up 8.6% from May.