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Dubai Financial Market Investor Base Up 26.48% To 535,563 Investors In 2008

Date 08/01/2009

The Dubai Financial Market, the first regional exchange to go public and the leading Islamic financial market globally, revealed that numbers of investors showed a big leap of 26.48% during 2008 to 535,563 in 2008 end compared to 423,418 in 2007.
ICE Announces Martin Luther King, Jr. Holiday Trading Schedule

Date 08/01/2009

IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of regulated global futures exchanges and over-the-counter (OTC) markets, announced the 2009 Martin Luther King, Jr. holiday trading schedule for ICE Futures U.S.
US Treasury Releases Fourth Tranche Report

Date 08/01/2009

The Treasury Department today released the fourth Tranche Report to Congress, as required by section 105(b) of the Emergency Economic Stabilization Act. All Tranche Reports can be found at: http://www.treasury.gov/initiatives/eesa/tranche-reports.shtml.
UK's Serious Fraud Office To Investigate Madoff

Date 08/01/2009

The Serious Fraud Office has announced today that it is opening an investigation into Bernard Madoff's UK business operations. The focus of the investigation will be on UK victims and any criminal offences that might have been committed in the UK.
SEC Charges Joseph S. Forte For Conducting Multi-Million Dollar Ponzi Scheme

Date 08/01/2009

The Securities and Exchange Commission has charged a Philadelphia-area investment fund manager and his firm for conducting a multi-million dollar Ponzi scheme, and has obtained an emergency court order freezing their assets.

CFTC Charges Philadelphia-Area Resident With Operating $50 Million Ponzi Scheme - Joseph S. Forte Confesses To Fraud Scheme And Failing To Register With The CFTC

Date 08/01/2009

The U.S. Commodity Futures Trading Commission (CFTC) announced today that it charged Joseph S. Forte of Broomall, Pennsylvania with operating a Ponzi scheme involving approximately $50 million in connection with the unregistered Joseph Forte, L.P. commodity futures pool. Forte recently confessed to federal authorities in the wake of the scheme’s collapse. The CFTC’s complaint charges Forte with: solicitation fraud; misappropriation of pool funds; sending customers false account s
SEC Approves FINRA Rule To Drastically Limit Motions To Dismiss In Arbitration - Abusive Motions To Dismiss Cases Will Face Stringent Sanctions

Date 08/01/2009

The Financial Industry Regulatory Authority (FINRA) today announced that the Securities and Exchange Commission (SEC) has approved an important change FINRA requested to its dispute resolution rules that will significantly reduce the frequency of motions to dismiss arbitration cases before investors have a chance to present their case.
London Metal Exchange Increases Order To Trade Ratio Policy

Date 08/01/2009

Following the successful implementation of LMEselect release 6, the London Metal Exchange has amended its order to trade ratio policy on LMEselect. With effect from Monday 5 January, the ratio of order to trade for Primary Aluminium and Copper Grade A contracts has increased to 20 order actions to one trade. The increase applies only to transactions between 08.00-18.00 hours London time. The order to trade ratio for all other metals, plastics, steel, index and LMEmini contracts remains at 12
“Whilst The Credit Crunch Continues To Blunt The Effectiveness Of Interest Rate Reductions, The MPC Will Be Tempted To Follow The US Federal Reserve’s Example And Pursue Quantitative Easing” - Edward Menashy - Chief Economist Of Charles Stanley

Date 08/01/2009

“The continued deterioration in the UK economy has pushed the Monetary Policy Committee (MPC) to cut base rates to 1.5% down 0.5 basis points since the December 2008 meeting. This reduction marks the lowest level of interest rates since the Bank of England was founded in 1694,” says Edward Menashy, Chief Economist at Charles Stanley.
NASDAQ OMX Introduces A Government Relief Index - New Benchmark Tracks Companies That Are Participating In The U.S. Government's Financial Relief Plan

Date 08/01/2009

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today introduced the NASDAQ OMX Government Relief Index(sm) (Nasdaq:QGRI). The index enables investors to track the performance of U.S.-listed securities that are participating in U.S. government sponsored relief programs such as the Troubled Asset Relief Program (TARP) or other direct gov