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  • European Commission: Fiscal Union

    Date 25/06/2012

    We are in a defining moment for European integration and for the European Union as a whole. The lessons of the past have taught us that further integration within the Euro area is indispensable to complete the economic and monetary union. A fiscal union is one of the main building blocks required to ensure smooth functioning of our common currency. This new architecture would provide a clear vision of the future of the EU's Economic and Monetary Union and guide the reforms and decisions necessary for the euro area and its Member States to tackle current challenges.

  • Statement By Vice-President Olli Rehn On The Request By Spain For Financial Assistance For Recapitalisation Of Financial Institutions

    Date 25/06/2012

    I welcome the formal request of the Spanish authorities to the Eurogroup for financial assistance for recapitalisation of financial institutions. Following this request, I have instructed our staff to step up their work to provide a clear assessment of the sector and its needs, as well as a proposal for the necessary policy conditionality that shall accompany the assistance, in liaison with the staff of the ECB, EBA and the IMF. The capital requirements recently estimated by two private firms provide a good starting point for this work. I am confident that we can conclude an agreement on the Memorandum of Understanding in a matter of weeks, so that we can proceed with the restructuring effort.

  • Deutsche Börse And GreTai Securities Market Signed Cooperation Agreement

    Date 25/06/2012

    Deutsche Börse and the Taiwanese GreTai Securities Market (GTSM) signed a Memorandum of Understanding (MoU) that reflects an agreement by both parties to exchange information in order to facilitate the further development of both financial markets.

  • EEX Spins Off Gas Business Into Own Company

    Date 25/06/2012

    The European Energy Exchange (EEX) will spin off the NaturalGas Spot and Derivatives Market into a separate company owned to 100 percent with the corporate name “EGEX European Gas Exchange”. Five years after the launch of exchange gas trading in Germany, this step paves the way for cooperations in the field of natural gas trading.

  • HKFE Announces Revised Margins For CNOOC Futures

    Date 25/06/2012

    Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Wednesday, 27 June 2012, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contract will be as outlined in the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.