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IMF Executive Board Backs US$250 Billion SDR Allocation To Boost Global Liquidity

Date 20/07/2009

The Executive Board of the International Monetary Fund (IMF) has backed an allocation of Special Drawing Rights (SDRs) equivalent to US$250 billion to provide liquidity to the global economic system by supplementing the Fund’s 186 member countries’ foreign exchange reserves. The equivalent of nearly US$100 billion of the new allocation will go to emerging markets and developing countries, of which low-income countries
Goldman Sachs Electronic Trading Announces The Launch Of Its Enhanced Shortfall Model

Date 20/07/2009

Goldman Sachs Electronic Trading (GSET) announced today the release of several significant enhancements to the Goldman Sachs Shortfall Model (GSSM). The GSSM generates expected shortfall numbers, which are estimates for the average change in stock price a trader may create by executing an order. Two major enhancements to the GSSM include:
Direct Edge Extends Clearing Agreement With Broadcort

Date 20/07/2009

Direct Edge announced today that it has re-signed a long-term contract with Bank of America Merrill Lynch’s Broadcort® division. Direct Edge has been using Broadcort’s clearing services since 2005.
SGX Appoints Mr Magnus Bocker As New Chief Executive Officer

Date 20/07/2009

The Board of Directors of Singapore Exchange Limited (“SGX”) is pleased to announce the appointment of Mr Magnus Böcker as Chief Executive Officer of SGX with effect from 1 December 2009. Mr Böcker’s appointment is for an initial term of three years.
Instinet Names Glenn Lesko CEO Of Asian Businesses

Date 20/07/2009

Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced the appointment of Glenn Lesko as CEO of Instinet in Asia. In this new role, for which he will relocate from New York to Hong Kong, Mr. Lesko will be responsible for Instinet’s business units – Instinet Japan Limited, Instinet Pacific Limited, Instinet Singapore Services Pte. Limited and Instinet Australia Clearing Services Pty Limited – in the region.

UK Shadow Chancellor George Osborne Launches White Paper On Financial Regulation

Date 20/07/2009

George Osborne has set out plans to abolish the failed tripartite system of regulation and give the Bank of England responsibility for maintaining financial stability.
Neonet's EMS Platform Accesses Morgan Stanley's Electronic Trading Suite

Date 20/07/2009

Neonet, the global provider of agency brokerage services and trading technology, today announces that Morgan Stanley is the most recent addition to Neonet's broker access offering. Buy-side clients may now utilize Neonet's advanced trading platform to access the Morgan Stanley suite of trading strategies for equities execution.
Successful Launch Of New Eurex Agricultural Derivatives - Start Of Trading On 20 July 2009 With Four Agricultural Futures

Date 20/07/2009

The international derivatives exchange Eurex today expanded its product range to include the agricultural derivatives asset class. Since trading commenced today, Eurex clients have been able to trade four new agricultural contracts: futures on European processing potatoes and potatoes for the British market (London Potatoes), and piglet and hog futures.
CPSS-IOSCO Working Group On The Review Of The Recommendations For Central Counterparties

Date 20/07/2009

The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) have set up a working group to review the application of the 2004 CPSS-IOSCO Recommendations for Central Counterparties to clearing arrangements for over-the-counter (OTC) derivatives. The recommendations, which were developed by the CPSS and the IOSCO Technical Committee, s
NASDAQ OMX President Magnus Bocker Departs For Leadership Position In Asia

Date 20/07/2009

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that Magnus Bocker, President of NASDAQ OMX, has advised the company that he intends to step down from his role effective September 2. Mr. Bocker will join the Singapore Exchange Limited (SGX) as Chief Executive Officer beginning in December.