News Centre

CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues Time-Limited No-Action Letter Providing Relief Surrounding Certain Foreign Exchange Transactions With A Settlement Cycle Of No More Than Seven Local Business Days

Date 02/05/2013

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a time-limited no-action letter that provides swap dealers and major swap participants with relief from compliance with External Business Conduct Standards rules in connection with certain foreign exchange transactions that have a settlement cycle of no more than seven local business days.

Canadian Securities Regulators Announce Roundtables To Receive Input On Statutory ‘Best Interest’ Duty

Date 02/05/2013

The Canadian Securities Administrators (CSA) announced today that the Ontario Securities Commission (OSC) will host two roundtables to further explore and discuss the issues identified in CSA Consultation Paper 33-403 – The Standard of Conduct for Advisers and Dealers: Exploring the Appropriateness of Introducing a Statutory Best Interest Duty When Advice is Provided to Retail Clients.

CFTC Issues Order Of Registration For The Natural Gas Exchange Inc.

Date 02/05/2013

On May 2, 2013, the Commodity Futures Trading Commission issued an Order of Registration to the Natural Gas Exchange Inc. (NGX), a foreign board of trade located in Calgary, Alberta, Canada. Under the Order, NGX is permitted to provide its identified members or other participants located in the U.S. with direct access to its electronic order entry and trade matching system.

Statement By DTCC General Counsel Larry Thompson

Date 02/05/2013

The Depository Trust & Clearing Corporation (DTCC) General Counsel Larry Thompson today issued the following statement:

“The Depository Trust & Clearing Corporation (DTCC) and the DTCC Data Repository (U.S.) LLC (DDR) today filed a lawsuit challenging three interrelated actions by U.S. Commodity Futures Trading Commission (CFTC) and asking a federal court to vacate the Commission’s approval of Chicago Mercantile Exchange, Inc. (CME) Rule 1001 and IntercontinentalExchange Inc. (ICE) Rule 211. The CME and ICE Rules are anticompetitive and undermine the core pro-competitive principles of the Dodd-Frank Act. By approving these Rules, CFTC changed its original adherence to the pro-competitive principles of Dodd-Frank and instead sanctioned anticompetitive behavior that allowed these clearing houses to require reporting of cleared swap data to their captive swap data repository (SDR).

Carlo Di Florio Named FINRA's New Executive Vice President, Risk And Strategy

Date 02/05/2013

The Financial Industry Regulatory Authority (FINRA) announced today that Carlo V. di Florio, currently Director of the SEC's Office of Compliance Inspections and Examinations (OCIE), will join the organization as Executive Vice President, Risk and Strategy. In this role, di Florio will lead FINRA's Office of Risk, Emerging Regulatory Issues, Enterprise Risk Management and Strategy. Di Florio will have overall responsibility for ensuring that FINRA has effective processes for assessing the most significant risks to the investing public and the integrity of our markets, and developing strategic responses to mitigate, manage and monitor those risks and industry trends. In addition, di Florio will manage FINRA's Enterprise Risk Management program to enhance FINRA's internal governance, risk management, quality control and compliance in support of FINRA's mission and strategy. He will start at FINRA on June 24.

National Exam Program Director Carlo V. Di Florio To Leave SEC

Date 02/05/2013

The Securities and Exchange Commission today announced that Carlo V. di Florio will leave the agency after leading its National Exam Program for more than three years.

CBOE Systems Issue

Date 02/05/2013

This morning, one of CBOE’s 25 business clusters, which contains approximately 300 option classes, experienced a delayed open. All other CBOE classes, including SPX and VIX, opened as scheduled at 8:30 a.m. and were unaffected by this isolated issue. The impacted classes were open for trading at 8:40 a.m., with complex order trading in all of the classes in the affected cluster available by 9:04 a.m. 

BOX Options Exchange Price Improvement Activity For April

Date 02/05/2013

In the month of April, price improved contracts on BOX Options Exchange averaged 217,146 per day, which represented a 17% increase over last month.

SEC Names Andrew Bowden As Director Of National Exam Program

Date 02/05/2013

The Securities and Exchange Commission today announced that Andrew J. Bowden has been named Director of the agency's Office of Compliance Inspections and Examinations (OCIE) and will lead its National Exam Program.

Key Figures For SIX Swiss Exchange And Scoach Switzerland April 2013: Pleasing Trend Since The Start Of The Year

Date 02/05/2013

Since the beginning of 2013, a total of 11,637,574 transactions have been conducted on SIX Swiss Exchange and Scoach CH. This marks an increase of 4.9% on the previous year. At 10,817,071 trades, the equities including funds + ETPs segment (+5.2%) also posted growth. With 333,302 trades, the ETF segment was also 22.1% up on the previous year.