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ISDA: Use Of FpML For Risk Evaluation - white paper

Date 15/12/2011

The objective of this paper is to show how querying trades in FpML format allows to perform risk evaluation of Over-The-Counter (OTC) derivatives. We evaluated recent regulatory consultation papers from the international regulatory community in search for specific regulatory questions around risk evaluation that we can translate into data queries. We implement the queries using a sample FpML data set and a widely used XML query language (XQuery) to extract the relevant information. We adapt certain queries to make them relevant for the test data set.
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index

Date 15/12/2011

The shares of Grayd Resource Corp. (TSXVN:GYD) will be removed from the S&P/TSX Venture Composite Index after the close of trading on Thursday, December 15, 2011.
SEC Halts Father-Son Ponzi Scheme In Utah Involving Purported Real Estate Investments

Date 15/12/2011

The Securities and Exchange Commission today charged a father and son in Utah with securities fraud for selling purported investments in their real estate business that turned out to be nothing more than a wide-scale $220 million Ponzi scheme.
CBOE Holdings, Inc. Announces Date Of Fourth-Quarter 2011 Earnings Release And Conference Call

Date 15/12/2011

CBOE Holdings, Inc. (NASDAQ: CBOE) will announce financial results for the fourth quarter of 2011 before the market opens on Thursday, February 9, 2012.
SEC Statement On Citigroup Case

Date 15/12/2011

The Securities and Exchange Commission’s Director of the Division of Enforcement, Robert Khuzami, today made the following statement on the Citigroup case:
Last month, a federal district court declined to approve a consent judgment because, in its view, the underlying allegations were ‘unsupported by any proven or acknowledged facts.’ As a result, the court rejected a $285 million settlement between the SEC and Citigroup that reasonably reflected the relief the SEC would likely have obtained if it prevailed at trial.

ESMA Publishes An Updated Opinion On Waivers From Pre-Trade Transparency

Date 15/12/2011

This updated includes an opinion under article 18 (1)(A) of the MiFID. To view the text, please click here.
Russell Investments 2012 Global Outlook: Global Deleveraging As Backdrop For Modest Growth And Recovery Volatility Expected To Continue In 2012 - Key Risk To Improved Global Market Sentiment Is Europe

Date 15/12/2011

Russell Investments' team of global investment strategists have released the firm's 2012 Global Outlook in which they predict that global deleveraging will continue through 2012, noting that "it took three decades for the developed economies to borrow too much money and it will take years to pay it back." Against this backdrop however, Russell forecasts that investors can expect to see modest levels of recovery and growth overall, driven by Asia and the U.S.
Program Trading Averaged 33.0 Percent Of NYSE Volume During Dec. 5-9

Date 15/12/2011

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 Dec. 5-9.
FINRA Fines Wells Fargo $2 Million For Unsuitable Sales Of Reverse Convertibles To Elderly Customers And Failure To Provide Breakpoints On UIT Sales - Firm Agrees To Pay Restitution To Affected Customers

Date 15/12/2011

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Wells Fargo Investments, LLC, $2 million for unsuitable sales of reverse convertible securities through one broker to 21 customers, and for failing to provide sales charge discounts on Unit Investment Trust (UIT) transactions to eligible customers. As part of the settlement, the firm is required to pay restitution to customers who did not receive UIT sales charge discounts and to provide restitution to certain customers found to have unsuitable reverse convertible transactions.
IMF Completes Fourth Review Under The Extended Arrangement With Ireland And Approves €3.9 Billion Disbursement

Date 15/12/2011

The Executive Board of the International Monetary Fund (IMF) has completed the fourth review of Ireland’s performance under an economic program supported by a three-year, SDR 19.47 billion (about €23.02 billion; or US$29.91 billion) arrangement under the Extended Fund Facility (EFF), or the equivalent of about 1,548 percent of Ireland’s IMF quota. The completion of the review enables the immediate disbursement of an amount equivalent to SDR 3.31 billion (about €3.91 billion; or US$5.08 billion), bringing total disbursements under the EFF to SDR 11.05 billion (about €13.07 billion; or US$16.98 billion).