News Centre

Federal Court In Puerto Rico Orders Angel F. Collazo, ACJ Capital, Inc., And Solid View Capital LLC To Pay Over $1.5 Million To Settle Forex Fraud Charges In CFTC Enforcement Action - Court Also Orders Fernando Clemente And Felgi Investments Corp. To Pay $150,000 In Restitution And Penalties And To Disgorge Over $120,000

Date 18/06/2013

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a federal court consent order requiring defendants Angel F. Collazo, formerly of Salinas, Puerto Rico, and his companies, ACJ Capital, Inc. (ACJ) and Solid View Capital LLC (Solid View), both of San Juan, Puerto Rico, jointly and severally to pay $843,444 in restitution and to pay a $750,000 civil monetary penalty for fraudulently soliciting customers to participate in an off-exchange leveraged foreign currency (forex) pool, misappropriating pool participant funds, and issuing false statements to conceal trading losses and misappropriation.

The Autorité Des Marchés Financiers Publishes Its 2012 Annual Report And Submits Its 2013-2016 Strategic Plan To Public Consultation

Date 18/06/2013

On 13 June 2013 Gérard Rameix, Chairman of the Autorité des Marchés Financiers, briefed the press on the 2012 AMF Annual Report, the 10th to date. He also outlined the key strategic directions of the AMF for the next three years. The Strategic Plan is submitted to public consultation until 6 September 2013.

Financial Transaction Tax: MEPs Push Wide Scope And Attention To Pension Funds

Date 18/06/2013

The Economic and Monetary Affairs Committee stood by its guns on Tuesday in supporting the Commission's proposal for a wide-scope financial transaction tax, with stocks and bond trades taxed at 0.1% and derivatives trades taxed at 0.01% in 11 EU countries. The committee proposed lower rates until January 2017 for trades in sovereign bonds and the pension fund industry's trades. A new legal ownership principle was also inserted to make tax avoidance more costly.

European Commission: New Rules On Credit Rating Agencies (Cras) Enter Into Force – Frequently Asked Questions

Date 18/06/2013

I. GENERAL CONTEXT AND APPLICABLE LAW

1. What is a credit rating?

A credit rating is an opinion issued by a specialised firm on the creditworthiness of an entity (e.g. an issuer of bonds) or a debt instrument (e.g. bonds or asset-backed securities). This opinion is based on research activity and presented according to a ranking system.

Tradier Chooses NASDAQ OMX FinQloud To Build 'Cloud Brokerage In A Box' - FinQloud Ecosystem Expands To Include Amazon Web Services' Compute, Network, Storage And Database Solutions Allowing Market Participants To Build Scalable And Reliable Applications

Date 18/06/2013

Tradier, Inc. today announced they have selected NASDAQ OMX FinQloud, a secure, cloud computing platform designed exclusively for the financial services sector and powered by Amazon Web Services (AWS), to build their 'cloud brokerage in a box.' Tradier is a newly formed next generation financial services technology solution that provides a fully bundled trading platform for tool providers, online banks and developers to create powerful online and mobile trading experiences for their users. The company will use FinQloud's expanded ecosystem of compute, network, storage and database solutions from AWS to build all critical aspects of its offering that include a rich set of API's, Web/Mobile Modules and secure services.

AMF Consults On Modification Of Book III Of Its General Regulation Transposing The AIFM Directive

Date 18/06/2013

Continuing its transposition  of  the  Alternative  Investment Fund Managers Directive (AIFMDirective), AMF launches a public consultation on  modifications to Book III of  its General Regulation, on services providers.

Eurex Clearing’s Lending CCP To Extend Covered Markets And Service Scope - Commitment Of Major Market Participants - As Of Now European Equities From Belgium, France And Netherlands Also Included - First CCP Service To Offer Processing Of Voluntary Corporate Actions

Date 18/06/2013

Eurex Clearing, one of the world’s leading clearing houses, announced that it has extended the product and service scope of its Lending CCP, Europe’s first central counterparty (CCP) service for the bilateral securities lending market. Since early June, equities from three additional European countries are accepted and an innovative solution for voluntary corporate actions has been introduced.

Direct Edge Introduces EdgeRisk Gateway

Date 18/06/2013

Direct Edge® announces EdgeRisk Gateway^SM, a new risk management tool that provides a dedicated access gateway for trading on the EDGA Exchange (EDGA®) and EDGX Exchange (EDGX®).  Access gateways perform order validations and manage the flow of information between the order matching engines and the EDGX and/or EDGA Member.

Mobile Trading Increasingly Gains Momentum Amongst Dubai Financial Market Investors

Date 18/06/2013

• Essa Kazim: Expansion of mobile trading in line with the vision of HH Sheikh Mohammed bin Rashid
•  “Emirates NBD” and “Mubasher” provide the service to DFM investors, “Alramz” and “Hermes” to follow 

European Commission: Stricter Rules For Credit Rating Agencies To Enter Into Force

Date 18/06/2013

As of 20 June, credit rating agencies (CRAs) will have to follow stricter rules which will make them more accountable for their actions. The new rules also aim to reduce over-reliance on credit ratings while at the same time improving the quality of the rating process. Credit rating agencies will have to be more transparent when rating sovereign states.