News Centre

European Council: MEPs Warn New Laws Need To Be Adopted Soon In Order To Overcome Crisis

Date 03/07/2012

A long overdue step in the right direction: that is how most MEPs assessed the results of the European Council on 28-29 June. Plans agreed at the summit include a compact for growth earmarking €120 billion to support growth in the EU, a single supervisory mechanism for European banks and a possibility of their direct recapitalisation. However, MEPs warn that in order to truly overcome the crisis, the EU will need to quickly adopt concrete legislation.

NYSE Euronext And The Cape Verde Stock Exchange Sign Cooperation Agreement

Date 03/07/2012

Today, NYSE Euronext (NYX) announced the signature of a cooperation and partnership agreement with the Cape Verde Stock Exchange (BVCV) through its subsidiary Euronext Lisbon.

CFTC To Hold Open Meeting To Consider Final Rule On The Further Definition Of The Term “Swap,” Final Rule On The End-User Exception To Clearing, And Proposed Rule To Exempt From Clearing Certain Swaps By Cooperatives

Date 03/07/2012

The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Tuesday, July 10, 2012, at 9:30 a.m., to consider two Final Rules and a Proposed Rule:

• Final Rule related to the Further Definition of “Swap,” “Security-Based Swap,” and “Security-Based Swap Agreement”; Mixed Swaps; Security-Based Swap Agreement Recordkeeping.
• Final Rule related to the End-User Exception to the Clearing Requirement for Swaps.
• Proposed Rule related to Clearing Exemption for Certain Swaps Entered into by Cooperatives.

Ken C. Joseph Named Head Of Investment Adviser/Investment Company Examination Program In SEC's New York Regional Office

Date 03/07/2012

The Securities and Exchange Commission today announced the appointment of Ken C. Joseph to lead the Investment Adviser/Investment Company Examination Program in the agency’s New York Regional Office.

European Commission: Undertakings For Collective Investment In Transferable Securities (UCITS) – Improved Requirements For Depositaries And Fund Managers – Frequently Asked Questions

Date 03/07/2012

1. What is a UCITS fund?

Investment funds are specially constituted investment vehicles, created with the sole purpose of gathering assets from investors, and investing those assets in a diversified pool of assets. By investment in investment funds, small investors can buy exposure to a professionally-managed and diversified basket of financial or other assets. Overheads are spread over the pool of investors, reducing average cost for the investor.

Treasury Select Committee: Written Submission- Supplementary Information Regarding Barclays Settlement With The Authorities In Respect Of Their Investigations Into The Submission Of Various Interbank Offered Rates

Date 03/07/2012

In anticipation of Bob Diamond’s appearance before the Treasury Committee tomorrow, 4 July, 2012, in the interest of clarity and transparency we set out on behalf of Barclays a brief summary of the salient events and the actions that Barclays has undertaken since becoming aware of them. These explanations are in no way intended to excuse any of the events that occurred. These events should never have taken place, and Barclays deeply regrets that they did.

Barclays Today Announces The Resignation Of Its Chief Operating Officer, Jerry del Missier With Immediate Effect.

Date 03/07/2012

Commenting, Mr del Missier said: "My 15 years at Barclays have been a time of great accomplishment, both for me personally and for the bank. I am grateful for the opportunities that were provided to me and proud of what we achieved. We built one of the premier global investment banks from scratch – something that we are all very proud of. The firm is as strong today as it ever has been and is incredibly well placed to succeed within the post financial reform competitive landscape.

European Commission Proposes Legislation To Improve Consumer Protection In Financial Services

Date 03/07/2012

The financial crisis has become a crisis of consumer confidence. Lack of transparency, low awareness of risks, and poor handling of conflicts of interest have meant that consumers across the EU have been repeatedly sold investment and insurance products that were not right for them. Consumers have had their faith in the financial sector shaken. In addition, existing legislation has not developed fast enough to reflect the growing complexity of financial services.

Green Exchange Holiday Hours For Independence Day Holiday

Date 03/07/2012

GreenX contracts listed for trading on CME Globex® and for submission for clearing through CME ClearPort® will have revised trading hours for the upcoming Independence Day holiday. 

Ontario Teachers’ Pension Plan Selects SunGard’s Adaptiv Riskbox For Market And Credit Risk Management

Date 03/07/2012

Ontario Teachers’ Pension Plan (OTPP), the largest single-profession pension plan in Canada, has selected SunGard’s Adaptiv Riskbox to help manage market and credit risk exposures across its portfolio of equities, bonds, commodities, real assets and absolute return strategies. OTPP will use Adaptiv Riskbox to calculate risk numbers both absolute and relative to benchmarks.