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  • Remarks By Finra Chairman And CEO Richard G. Ketchum From The SIFMA Complex Products Forum

    Date 27/09/2012

    Good morning, and thank you, John [Maurello], for the introduction and invitation to join you here today.

    I'm pleased to have this opportunity to talk to you about complex products in the retail market. Complex products have grown in importance as retail customers search for yield and firms look for innovative products to meet this demand and generate revenue. Firms and regulators have had a long and, pardon the pun, complex relationship with these products. We've been talking about the evolution and regulation of complex products for many years. While our discussions may have intensified recently in the current low-yield environment, I recall similar conversations as early as the 1970s, when I was at the SEC.

  • Program Trading Averaged 48.6 Percent Of NYSE Volume During Sept. 17-21

    Date 27/09/2012

    The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released  its weekly program-trading data compiled from member firms' executed volume from  NYSE's orders database. The report includes trading on the NYSE for Sept. 17-21.

  • CFTC: Florida Federal Court Orders Claudio Aliaga And His Company, CMA Capital Management, LLC, To Pay $5.5 Million In Penalties And Restitution For Operating A Forex Ponzi Scheme

    Date 27/09/2012

    The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a judgment for $5.5 million in restitution and civil monetary penalties against Claudio Aliaga and CMA Capital Management, LLC (CMA), of Miami Lakes, Florida, to settle an action charging defendants with operating a Ponzi scheme involving the fraudulent solicitation of at least $4.5 million from at least 125 individuals to invest in foreign currency (forex) managed accounts and/or a pooled investment (see CFTC Press Release 5807-10, April 12, 2010).

  • NYSE Euronext Announces Pricing Of Tender Offer For Any And All Of Its 4.80% Notes Due 2013

    Date 27/09/2012

    NYSE Euronext (NYX) (the "Company") today announced that it has priced its cash tender offer (the "Offer") to purchase any and all of its outstanding 4.80%  Notes due 2013 (the "Notes") pursuant to the previously announced Offer.

  • WFE Reaffirms Support Of Regulatory Action In Global Derivatives Market Following Publication Of New Study

    Date 27/09/2012

    Leaders from the World Federation of Exchanges (WFE) have re-emphasized their support of regulatory action in the global derivatives market on the occasion of the publication of a new study commissioned by the WFE to examine the state of over-the-counter (OTC) and exchange-traded derivatives.  The report describes how regulatory reform is resulting in significant shifts in product selection across the global risk transfer market.