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Direct Edge Trading Notice #12-33: Discontinuation of the Message Efficiency Incentive Program

Date 17/08/2012

Please be advised that, subject to filing with the SEC, Direct Edge will discontinue the Message Efficiency Incentive Program, as announced in Direct Edge Trading Notice #12-18, effective Tuesday, September 4, 2012.
SEC: New Charges In Insider Trading Case Include Former CEO And Professional Baseball Player

Date 17/08/2012

The Securities and Exchange Commission today announced a second round of charges in an insider trading case involving former professional baseball players and the former top executive at a California-based medical eye products company that was the subject of the illegal trading.
CME Group Announces Launch Of U.S. Midwest Scrap (AMM) Futures

Date 17/08/2012

CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of U.S. Midwest #1 Busheling Ferrous Scrap (AMM) futures to begin trading on September 10, subject to relevant regulatory approvals. This contract will be the first ferrous scrap futures contract available to U.S. steel industry participants, and will be listed by and subject to the rules of NYMEX.
CFTC Issues Proposed Order To Exempt Certain Non-Financial Energy Derivative Transactions Between Government-Owned Electric Utilities And Cooperatively-Owned Electric Utilities

Date 17/08/2012

The Commodity Futures Trading Commission (CFTC) today approved a Proposed Order that would exempt certain non-financial energy derivative transactions between and amongst government-owned electric utilities and cooperatively-owned electric utilities from most of the requirements of the Commodity Exchange Act (CEA). The entities eligible for the proposed relief are not-for-profit electric utilities charged with a unique public service mission of providing their customers with reliable, affordable electric energy. The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Commission to provide such an exemption for certain transactions between certain electric utilities if it is in the public interest. The Commission voted 5 to 0 via seriatim, and the comment period will be open for 30 days after publication in the Federal Register.
TOM MTF Statistics Week 33 2012

Date 17/08/2012

Click here to download the weekly statistics update of TOM MTF for week 33 - 2012.

Supervisory Guidance For Managing Risks Associated With The Settlement Of Foreign Exchange Transactions - Consultative Document

Date 17/08/2012

Since the BCBS's Supervisory guidance for managing settlement risk in foreign exchange transactions (2000) was published, the foreign exchange market has made significant strides in reducing the risks associated with the settlement of FX transactions. Substantial FX settlement-related risks remain, however, not least because of the rapid growth in the FX trading.
Statement Of Support On Proposed Relief For Electricity And Energy Related Transactions Between Government, Tribal And Cooperatively Owned Electric Utilities – CFTC Chairman Gary Gensler

Date 17/08/2012

I support the proposed relief from the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) swaps provisions for certain electricity and electricity-related energy transactions between rural electric cooperatives and federal, state, municipal, and tribal power authorities. The relief responds to a petition filed by a group of these cooperatives and authorities.
Latest Performance Update Of The EDHEC-Risk Alternative Indexes - Sunny Outlook For Hedge Funds In July

Date 17/08/2012

In July, all market segments were up, extending a positive trend started last month. Stocks gained 1.39% (S&P 500) with a nearly stationary implied volatility (VIX: 18.9%). Fixed-income instruments exhibited significant performance across all risk classes: worldwide and US high-grade (1.01% and 0.93% respectively), convertibles (0.95%), and the credit-spread index (0.66%). Commodities staged a comeback (6.07%) after having suffered huge losses over the last three months, while the Dollar (0.13%) was almost unchanged.
Statement Of Dissent To The Registration Of Intermediaries Final Rule - CFTC Commissioner Scott D. O’Malia

Date 17/08/2012

I respectfully dissent with the Commodity Futures Trading Commission’s (“Commission”) final rule to adopt certain conforming amendments to part 3 of the Commission’s regulations regarding the registration of intermediaries. I find it disturbing that coming off of two widely publicized incidents of intermediary fraud and misappropriation of customer funds (i.e., MF Global Holdings and Peregrine Financial Group), the Commission is not adopting a rule that will provide customers with greater transparency of the professional and disciplinary background of Commission registrants. While I support most of what is included in this rule, I am unable to vote in the affirmative because of what has been excluded. The Commission indicates in the final rule that it will work with the National Futures Association (“NFA”) to increase transparency, but does not set forth any details describing how the Commission and NFA will accomplish that goal.
Moscow Exchange: Settlement Prices Determined For Futures Contracts On Urals And Brent Oil

Date 17/08/2012

On August 17, 2012 futures contracts on Brent oil and Urals oil expired.