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  • Remarks By U.S. Department Of The Treasury Under Secretary David Cohen At The SIFMA Anti-Money Laundering & Financial Crimes Conference

    Date 29/02/2012

    INTRODUCTION

     
    It is a great pleasure to be here this morning to address SIFMA’s Anti-Money Laundering and Financial Crimes Conference. This feels a bit like a home-coming for me. I joined the Treasury Department almost exactly three years ago today. But for several years before, I sat where you sat, advising financial institutions – banks, broker-dealers, investment advisers, and others – in anti-money laundering and sanctions compliance issues.

  • Autorité Des Marchés Financiers - Price formation On The CDS Markets: Lessons Of The Sovereign Debt Crisis

    Date 29/02/2012

    Click here to download "Risk and Trend Mapping No11 - Price formation on the CDS markets: Lessons of the sovereign debt crisis" 

  • Top 15 Sovereign And Corporate Credit Default Swaps - Provided By The Depository Trust & Clearing Corporation (DTCC)

    Date 29/02/2012

    The Depository Trust & Clearing Corporation (DTCC) is publishing a weekly email containing simple, easy-to-read tables listing credit default swaps (CDS) contracts on the top 15 sovereign and corporate reference entities by net notional amount as well as the Top 10 volume movers, both corporate and sovereign, by percentage change based on the net notional amount registered in its Trade Information Warehouse for the week ending February 24, 2012, along with historical data.

  • European Parliament: Credit Rating Agency Reform Plans Need More Bite, Say Committee MEPs

    Date 29/02/2012

    The EU's credit rating agency reform plans need to be beefed up, in order to replace "unsolicited" sovereign debt ratings of EU Member States with ratings by an independent body, reduce reliance on agency ratings, and eliminate conflicts of interest that could influence them, said rapporteur Leonardo Domenici (S&D, IT), in the Economic and Monetary Affairs Committee's first debate on the plans on Wednesday.

  • NYSE Group, Inc. Annual Report For The Fiscal Year Ended December 31, 2011 - NYSE Euronext -Deutsche Boerse Deal Costs USD 85 Million

    Date 29/02/2012

    Terminated Business Combination

    On February 15, 2011, we entered into a Business Combination Agreement (the "Business Combination Agreement") with Deutsche Börse AG ("Deutsche Börse"), pursuant to which the two companies agreed to combine their respective businesses and become subsidiaries of a newly formed Dutch holding company (the "Proposed Business Combination"). Completion of the Proposed Business Combination was subject to the satisfaction of several conditions, including, among others, approvals by the relevant competition and financial, securities and other regulatory authorities in the United States and Europe.

    On February 1, 2012, the EU Competition Commission issued a formal decision disapproving the Proposed Business Combination. In light of the EU Commission's decision, on February 2, 2012, NYSE Euronext and Deutsche Börse announced that they mutually agreed to terminate the Business Combination Agreement. For the year ended December 31, 2011, NYSE Euronext incurred approximately $85 million of legal, investment banking and other professional fees and costs related to the terminated business combination, which are recorded in "Merger expenses and exit costs" in the consolidated statement of operations. NYSE Euronext also incurred additional indirect costs associated with management's significant time and focus negotiating and preparing to close the Proposed Business Combination, instead of pursuing other business opportunities that could have been beneficial to the Company.