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  • Statement Of Support By CFTC Chairman Gary Gensler – Client Portfolio Margining

    Date 14/01/2013

    I support the Commission’s order to allow portfolio margining of both swaps and security-based swaps in a cleared swaps customer account. Clearing members already benefit from portfolio margining when clearing credit default swaps. The order facilitates client clearing by allowing customers of clearing members to get similar benefits.

  • NYSE Technologies Extends Asia Footprint With Creation Of NYSE Philippines Inc. -- Creates A New 'Center Of Excellence' In Manila With Over 100 Employees -- Further Strengthens Asia Presence And Enhances Local Service Offering

    Date 14/01/2013

    NYSE Euronext (NYX) announced today that it has completed its resource transfer from Fixasia Technologies Inc., a leader in technology solutions and support services, to a newly created subsidiary, NYSE Philippines Inc. The new subsidiary will operate as a regional technology hub based in Manila. This enables NYSE Technologies to efficiently expand and rapidly diversify its Asia business while enhancing its 24x7 global support model and adding the unique expertise of the Fixasia team. Terms of the transfer were not disclosed.

  • CFTC Grants Order To ICE Clear Credit Permitting Portfolio Margining Of Swaps And Security-Based Swaps In A Cleared Swaps Customer Account

    Date 14/01/2013

    Today the Commodity Futures Trading Commission issued an order granting a request made by Ice Clear Credit LLC (ICC), a Commission-registered derivatives clearing organization (DCO), pursuant to Section 4d(f) of the Commodity Exchange Act (Act). The order sets forth terms and conditions under which ICC and its clearing members that are dually registered as futures commission merchants and broker-dealers may (1) hold credit default swaps (CDS) and security-based CDS in a cleared swaps customer account subject to Section 4d(f) of the Act; and (2) portfolio margin such CDS and security-based CDS held in the cleared swaps customer account.

  • Federal Reserve Board Issues Two Consent Cease And Desist Orders Against JPMorgan Chase & Co.

    Date 14/01/2013

    The Federal Reserve Board on Monday issued two consent Cease and Desist Orders against JPMorgan Chase & Co., New York, New York (JPMC), a registered bank holding company. The first order requires JPMC to take corrective action to continue ongoing enhancements to its risk-management program and its finance and internal audit functions, particularly in regard to JPMC's Chief Investment Office (CIO). The Board's order follows the disclosure of significant losses in a large synthetic credit portfolio that was managed by the CIO. The second order requires JPMC to take corrective action to enhance its program for compliance with the Bank Secrecy Act and other anti-money laundering requirements at JPMC's various subsidiaries.

  • CFTC Announces Appointment Of Melissa Jurgens To Serve As Secretary Of The Commission

    Date 14/01/2013

    The Commodity Futures Trading Commission (CFTC) today announced the appointment of Melissa Jurgens to serve as the Secretary of the Commission. The Secretary will manage the decisional workload of the Commission as it continues to complete Dodd-Frank rulemaking and implementation, as well as ongoing enforcement and no action matters. Jurgens will also play a key role in the preservation and management of the Commission’s records.