News Centre

State Aid: European Commission Opens In-Depth Investigation Into Amended Spanish Tax Scheme For Acquisition Of Shares In Foreign Companies

Date 17/07/2013

The European Commission has opened an in-depth investigation to verify whether the new interpretation of a Spanish scheme allowing tax deductions in connection with the acquisition of shareholdings in non-Spanish companies is in line with EU state aid rules. The Commission had found the original version of the scheme incompatible with the state aid rules because it gave the beneficiaries a selective economic advantage over their competitors performing domestic acquisitions. According to consistent administrative practice, the original scheme applied only to direct acquisitions, whereas the new Spanish interpretation would retroactively allow tax deductions also for indirect acquisitions. At this stage, the Commission considers that the amended scheme may again involve state aid and has doubts as regards the compatibility of such aid. The opening of an in-depth investigation gives interested third parties an opportunity to submit comments on the measure under assessment. It does not prejudge the outcome of the investigation.

Michel Barnier, European Commissioner For The Internal Market And Services, Time For A New Transatlantic Partnership

Date 17/07/2013

Ladies and gentlemen,

Some people must have looked at the launch of the TTIP [Transatlantic Trade and Investment Partnership] negotiations last week like an aircraft taking off against a strong headwind

Financial Stability Board Releases Consultative Document On Principles For An Effective Risk Appetite Framework

Date 17/07/2013

The Financial Stability Board (FSB) is today launching a public consultation on its draft Principles for an Effective Risk Appetite Framework. The Principles will enhance supervisory oversight of firms, in particular of systemically important financial institutions (SIFIs), by establishing  minimum  expectations  for  the  key  elements  contained  in  an  effective  risk appetite framework, such as: an actionable risk appetite statement; quantitative risk limits; and clearly defined roles and responsibilities of the board of directors, senior management and business lines. 

Moscow Exchange: Results Of Auction For Placement Of The Russian Federation Government Bonds, Issue No26210RMFS

Date 17/07/2013

On July 17, 2013 the auction for placement of the Russian Federation government bonds, issue No 26210 RMFS, took place in the CJSC MICEX Stock Exchange.

Tradition-ICAP Launches VolCall - VolCall Delivers The Benefits Of Electronic Trading With The Flexibility Of Traditional Voice Broking

Date 17/07/2013

Tradition-ICAP, the world's leading voice broker and electronic platform (Volbroker) for the trading of FX currency options, today announced the imminent launch of its new VolCall service for the interdealer broker (IDB) market. VolCall is a request for quote (RFQ) service that allows market participants to request and trade over-the-counter (OTC) specific interests electronically with intelligent protection for the first time.

Clearstream’s Investment Funds Strategy For Latin America Strengthens With Latin Clear Joining Vestima - Latin Clear Panama As Central Hub For Investment Funds Across Latin America To Use Clearstream’s Post-Trade Solution Vestima - International Investors Can Now Gain Easy Access To Panama-Domiciled Funds Through Clearstream - Regulatory Changes: Markets In Latin America Open Up For Offshore Funds

Date 17/07/2013

Clearstream has taken an important step in strengthening its ties with Latin American financial markets by signing Latin Clear Panama as the first transfer agent (TA) to join its investment funds platform, Vestima. Accordingly, in the course of July 2013, investment funds domiciled in Panama will be eligible for order routing, settlement and custody at Clearstream.

Traiana CreditLink For Swaps Trade Certainty Gains Momentum - Initiative Adds Support Of Leading Fcms And First Trading Venues In Production

Date 17/07/2013

Traiana, the leading provider of pre-trade risk and post-trade processing solutions, announces today its pre-trade clearing certainty initiative continues to gain momentum and has received the support of leading futures commissions merchants (FCMs) and trading venues. Barclays, BofA Merrill Lynch, Citi, Goldman Sachs, J.P. Morgan and leading buyside institutions have put their support behind the central risk management infrastructure to be the first clearing firms to use Traiana’s CreditLink service to manage swap clearing limits, with deployments underway to meet regulatory deadlines. 

Dom Inwestycyjny Investors S.A. Chooses Sungard For Warsaw Stock Exchange Trading Access And International Connectivity

Date 17/07/2013

Dom Inwestycyjny Investors S.A. (DI Investors), an independent Polish brokerage house, has selected SunGard’s Valdi to provide a front-to-back trading and direct market access (DMA) connectivity solution to the Warsaw Stock Exchange (WSE).

Federal Energy Regulatory Commission Orders $453 Million In Penalties For Western Power Market Manipulation

Date 17/07/2013

The Federal Energy Regulatory Commission (FERC) today ordered Barclays Bank PLC and four of its traders to pay $453 million in civil penalties for manipulating electric energy prices in California and other western markets between November 2006 and December 2008. FERC also ordered Barclays to disgorge $34.9 million, plus interest, in unjust profits to the Low-Income Home Energy Assistance Programs of Arizona, California, Oregon, and Washington. 

ISDA Credit Derivatives Determinations Committee: Desarrolladora Homex, S.A.B. De C.V. Failure To Pay Credit Event

Date 16/07/2013

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Failure to Pay Credit Event occurred in respect of Desarrolladora Homex, S.A.B. de C.V.