News Centre

Nymex To Decrease Margins For Natural Gas Futures, Swap Futures, And e-miNY<SUP>sm</SUP> Futures Contracts

Date 16/02/2005

The New York Mercantile Exchange, Inc., announced today that it will decrease the margins on its natural gas futures, Henry Hub swap futures, and e-miNYsm futures contracts at the close of business tomorrow.

NASD Charges American Funds Distributors, Inc. With Arranging $100 Million In Directed Brokerage Commissions For Top Sellers Of American Funds

Date 16/02/2005

NASD has charged American Funds Distributors, Inc. (AFD) with violating NASD's Anti-Reciprocal Rule by directing approximately $100 million in brokerage commissions over a three-year period to about 50 brokerage firms that were the top sellers of American Funds. The payments were made to reward the firms for past sales and to encourage future sales of American Funds' 29 mutual funds.

IOSCO Issues Principles On Outsourcing Of Financial Services For Market Intermediaries

Date 16/02/2005

The International Organization of Securities Commissions (IOSCO) has published its Principles on Outsourcing of Financial Services for Market Intermediaries (“Outsourcing Principles”). IOSCO’s issuance of the Outsourcing Principles follows an extensive consultation process in which securities firms, markets, regulators and the public considered the draft Principles over a period of several months. A related document, the

CalPERS Board Votes To Oppose Defined Contribution Legislation

Date 16/02/2005

The CalPERS Board of Administration voted 9-3 to oppose legislation that calls for a Constitutional Amendment that would shift public pensions from a defined benefit plan to a 401(k)-style defined contribution plan for new employees.

Amcorp Makes Primary Listing Of USD120 Million Exchangeable Bonds On Labuan International Financial Exchange

Date 16/02/2005

The number of approved listings on the Labuan International Financial Exchange (LFX) increased to 28 with the primary listing of USD120 million exchangeable bonds issued by Amcorp Capital (L) Ltd., a wholly-owned subsidiary of Arab-Malaysian Corporation Berhad (Amcorp).

STOXX, Ltd. Changes The Composition Of The European Benchmark Indexes - First Regular Quarterly Review To Be Effective On March 21, 2005

Date 15/02/2005

STOXX, Ltd. today announced changes in the composition of the Dow Jones STOXX Global 1800 index, the Dow Jones STOXX Total Market Index, the Dow Jones STOXX 600 Index and its sector indexes, the Dow Jones EU Enlarged Total Market Index and the Dow Jones STOXX Football Index.

Standard & Poor’s Announces Change To U.S. Index

Date 15/02/2005

Penn Virginia Corp. (NYSE:PVA) will replace Ionics Inc. (NYSE:ION) in the S&P SmallCap 600 after the close of trading on Tuesday, February 22. Ionics is being acquired by a subsidiary of S&P 500 constituent General Electric Co. (NYSE:GE) in a deal expected to close on or about that date, pending final approval.

Rule Changes For Euronext 100 And Next 150 Indices

Date 15/02/2005

Euronext announces the following rule changes with respect to the Euronext 100 Index and the Next 150 Index. The rule change has been approved in the January meeting of the Euronext Indices Steering Committee.

National Commodity & Derivatives Exchange Signs Memorandum Of Understanding For Natural Gas Spot Trading

Date 15/02/2005

National Commodity & Derivatives Exchange Limited (NCDEX) and GAIL (India) Limited signed a Memorandum of Understanding (MoU) on 15th February 2005 in New Delhi. This will enable both the organizations to jointly work for the development of a spot market for natural gas in the country. The MoU was formally signed by Mr P.H. Ravikumar, MD & CEO, NCDEX Ltd and Dr U.D. Choubey, Director, Marketing, GAIL (India) Ltd.

Nasdaq Announces Closing Of Secondary Offering And Exercise Of Over-Allotment Option

Date 15/02/2005

The Nasdaq Stock Market, Inc. ("NASDAQ®"; NASDAQ: NDAQ), announced today the closing of the secondary offering of common stock by NASD and certain other stockholders who purchased such shares in NASDAQ’s 2000 and 2001 private placements. In the offering, the managing underwriters have exercised the over-allotment option in full to purchase an additional 2,586,980 shares of NASDAQ’s common stock from NASD at the offering price of $9.00 per share. Merrill Lynch & Co. and Credit Suisse First Boston