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CFTC Charges Three Florida Defendants With Issuing False Account Statements In Foreign Currency Anti-Fraud Action

Date 14/07/2010

The U.S. Commodity Futures Trading Commission (CFTC) charged FX Professional International Solutions, Inc. (FXP) (a.k.a. FX Professional Solutions, LLC), of Orlando, Fla. and its principals, Pedro de Sousa (a.k.a. Pedroiz J. Sanz), also of Orlando, and Guillermo Rosario (a.k.a. Guillermo Rosario-Colon) of Coral Gables, Fla., with issuing false account statements to customers in connection with an off-exchange foreign currency (forex) fraud.
SEC Votes To Seek Public Comment On U.S. Proxy System

Date 14/07/2010

The Securities and Exchange Commission today voted unanimously to issue a concept release seeking public comment on the U.S. proxy system and asking whether rule revisions should be considered to promote greater efficiency and transparency.
TABB Says Buy Side Use Of Algorithms Will Rise To 35% In 2011, On Par With High-Touch Sales Traders For The First Time - New Research Details Low-Touch Trading Trends In The US Equity Markets Based On Interviews With 123 US-Based Asset Managers And Hedge

Date 14/07/2010

With asset managers and hedge funds in the US accounting for nearly one third of the share volume traded in 2010, up sharply from a low of 25% in December 2008, the overall effect on the institutional equity brokerage industry is a wash: trading volume is down but not as much as the rest of the industry. Meanwhile, TABB Group, in a new research report published today, says that the use of low-touch algorithms will reach 35% in 2011, for the first time on par with high-touch sales traders.
Deutsche Börse Systems Selects Equinix As Strategic Data Centre Provider In Frankfurt - Eurex And Xetra Customers To Benefit From Enhanced Capacity And Further Reduced Latency

Date 14/07/2010

Deutsche Börse Systems, the IT division of Deutsche Börse Group, and Equinix, Inc., (Nasdaq: EQIX), a provider of global data centre services, today announced the completion of a strategic data centre services contract, which will both increase data centre capacity and improve execution times for algorithmic traders located in Frankfurt. From 2011 onwards, Equinix’s FR2 International Business Exchange (IBX) data centre, will serve as the new main data centre for Deutsche Börse Group in Frankf
Opening Statement, Chairman CFTC – Technology Advisory Committee, Commissioner Scott D. O’Malia

Date 14/07/2010

Today’s inaugural meeting of the CFTC – Technology Advisory Committee will address the necessity of applying appropriate risk management and best practices for high frequency and algorithmic trading.

Speech By SEC Chairman Mary L. Schapiro: Opening Statement At The SEC Open Meeting

Date 14/07/2010

Good Morning. This is an open meeting of the U.S. Securities and Exchange Commission on July 14, 2010.
UBS AG Exchange Traded Access Security (E-TRACS) Linked To The Alerian Natural Gas Index To Begin Trading On NYSE Arca

Date 14/07/2010

NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the UBS AG Exchange Traded Access Security (E-TRACS) Linked to the performance of the Alerian Natural Gas Index (NYSE Arca: MLPG) due July 9, 2040. Issued by UBS AG, this exchange traded note is a senior unsecured medium-term note, which may issue a quarterly coupon during their term less the accrued fees.
Opening Statement Before The Technology Advisory Committee - CFTC Chairman Gary Gensler

Date 14/07/2010

Good afternoon. Thank you Commissioner O’Malia for chairing today’s meeting of the Technology Advisory Committee. This is the Technology Advisory Committee’s first meeting since its charter was renewed this year. The futures marketplace has evolved substantially over the course of the last decade. We’ve gone from open outcry trading to predominantly electronic trading platforms. In fact, in today’s futures marketplace, roughly 90 percent of the market is traded electronically.
Enforcement Chief Counsel Joan McKown To Leave SEC

Date 14/07/2010

The Securities and Exchange Commission announced today that Joan McKown, the longtime Chief Counsel of the Division of Enforcement, will depart the agency to become a partner in the Washington office of the law firm Jones Day.
NYSE Arca To Introduce New Collar To Safeguard Market Orders

Date 14/07/2010

NYSE Arca, a unit of NYSE Euronext (NYX), has filed with the Securities and Exchange Commission to introduce a new price collar designed to safeguard the execution of market orders. The new price collar will be introduced on July 15, 2010 and is the latest in a series of steps implemented to improve market practices and structure since the "flash crash" of May 6, 2010.