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  • MIAX Options Exchange: Penny Pilot Classes For Option Classes To Start Trading On December 3, 2013

    Date 27/11/2013

    Regulatory Circular 2013-69 identifies option classes to be included in the MIAX Penny Pilot Program starting on December 3, 2013.

  • Thomson Reuters/University Of Michigan: Stock Gains Offset Concerns About Economic Policies

    Date 27/11/2013

    Consumer confidence rebounded in late November, shaking off the last remnants of the federal shutdown. The November increase was due to an improved outlook for the economy, with the gains primarily among upper income households. Increases in household income and wealth were reflected in more optimistic personal financial assessments among those in the upper third of the income distribution, whereas households in the bottom third reported declines in their incomes as well as negative changes in their net worth. The current state of consumer sentiment is consistent with an economic growth rate slightly above 2%, largely stimulated by wealth gains not improvements in jobs and wages. This amounts to continued economic stagnation, which can be defined like the Fed's definition of stable prices, at about 2%—the average GDP growth rate in the past few years. 

  • MIAX And ISG Extend Effective Date For Electronic Blue Sheet Data Elements

    Date 27/11/2013

    MIAX and the other U.S. members of the Intermarket Surveillance Group have extended the effective date for compliance with the following new data elements for Electronic Blue Sheets until May 1, 2014.

  • IOSCO: Supervisory Colleges Established For Internationally Active Credit Rating Agencies

    Date 27/11/2013

    The Supervisory Colleges for Standard & Poor’s, Moody’s and Fitch held their inaugural meetings on 5 – 6 November in New York. The colleges for S&P and Moody’s are chaired by the United States Securities and Exchange Commission (SEC) and the college for Fitch is chaired by the European Securities and Markets Authority (ESMA). 

  • CFTC: Federal Court In California Orders James D. Crombie To Pay Over $1.5 Million For Misrepresentations To The National Futures Association And For Solicitation Fraud

    Date 27/11/2013

    • The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Order against defendant James D. Crombie of Virginia, requiring him to pay $789,540.47 in restitution to defrauded customers and a civil monetary penalty of $750,000. Crombie’s fraudulent scheme involved making false statements and providing false documents to the National Futures Association (NFA) and fraudulently soliciting funds for his former company, Paron Capital Management, LLC (Paron). The Order also imposes permanent trading and registration bans against Crombie and prohibits him from violating the Commodity Exchange Act, as charged.