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  • European Financial Stability Facility Board Of Directors Reserves Its Rights To Act Upon Greece’s Default

    Date 03/07/2015

    The Board of Directors of the European Financial Stability Facility (EFSF) decided today to opt for a Reservation of Rights on EFSF loans to Greece, after the non-payment of Greece to the International Monetary Fund (IMF). Following the IMF Managing Director’s notification of the IMF Executive Board, this non-payment results in an Event of Default by Greece, according to EFSF financial agreements with Greece.

  • President Of The Hellenic Republic Prokopis Pavlopoulos: Greece’s Course Is In Europe

    Date 03/07/2015

    Greece's course in Europe and within the eurozone is a "national one-way road" and not just for economic reasons but for reasons of national security, President of the Hellenic Republic Prokopis Pavlopoulos said yesterday, receiving the head of the Hellenic Bank Association Louka Katseli. He added that the course toward the referendum on Sunday (5.07) must not be permitted to disrupt the essential unity of the Greek people. "Referendums, which are an institution of direct democracy, serve democracy only when they are conducted under conditions that do not allow any division," he said.

  • Q&A By Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE) And China Securities Depository And Clearing Corporation Officials On Lowering Charging Standards For A-share Trading, Settlement

    Date 03/07/2015

    Q: The Shanghai Stock Exchange (SSE), the Shenzhen Stock Exchange (SZSE) and China Securities Depository and Clearing Corporation Limited (CSDC) dramatically lowered handling fee and transfer fee for A-share trading in 2012. Will they consider further lowering the charging standards in the near future?

    A: In order to further cut investors’ trading cost, the SSE, the SZSE and CSDC, upon study, plan to lower the charging standards for A-share trading and settlement. The handling fee for A-share trading bilaterally charged by the SSE and the SZSE will be adjusted from 0.0696‰ to 0.0487‰ of trading amount, with a drop of 30%, among which 0.00974‰ will be forwarded to China Securities Investor Protection Fund Corporation Limited and 0.03896‰ charged by the exchange. Besides, the transfer fee for A-share trading bilaterally charged by CSDC is adjusted from 0.3‰ of trading par value on the SSE and 0.0255‰ of trading amount on the SZSE respectively to 0.02‰ of trading amount uniformly, a drop of about 33% according to the market data of the recent 2 years. The SSE, the SZSE and CSDC will spare no efforts to complete relevant preparatory work, with an aim to implement these adjustments on August 1.

  • EEX: Refund Of Charges Introduced For Delta Hedge Of Power Options

    Date 03/07/2015

    To further support the positive market development of Phelix Power Options, EEX will not be charging any trading fees for future transactions which were concluded as “Delta Hedge” for options as of 1st of July 2015.

  • Shanghai Stock Exchange: Notice Of Releasing “SSE Detailed Rules For Implementation Of Margin Trading And Securities Lending (Revised in 2015)”

    Date 03/07/2015

    The Shanghai Stock Exchange (SSE) has revised the existing “SSE Detailed Rules for Implementation of Margin Trading and Securities Lending” (the “Rules” for short) in a bid to cement risk management on the business of margin trading and securities lending, propel steady growth of the business and protect investors’ legitimate rights and interests. The SSE hereby releases the revised “Rules”, which shall take effect on the release date. Considering that the whole-market business and technology will need some time for preparation, Paragraph 3 of Article 12 in the revised “Rules” will not be implemented temporarily, with the implementation time subject to further notification by the SSE.