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SWX Indices: Xstrata To Be Excluded From SPI® As Of 19 January 2004

Date 23/12/2003

Further to the recommendation of the Index Commission, the SWX Swiss Exchange has decided to remove the shares of Xstrata (ISIN: GB0031411001) from the Swiss Performance Index (SPI®) as of 19 January 2004 owing to insufficient liquidity. Since Xstrata is heavily weighted in the SPI®, in order to prevent major price fluctuations its exclusion will take place over five days, rather than immediately, as is the norm. Xstrata's weighting will be reduced on a straight-line basis by 20 % a day from 12-
Statement Of The Clearing Corporation And Eurex Clearing AG

Date 23/12/2003

The Clearing Corporation and Eurex Clearing AG, responding to correspondence received from the U.S. Commodity Futures Trading Commission yesterday issued the following statement: The March 28, 2004 launch date referenced in our joint press release issued on December 16, 2003 for the launch of the Global Clearing Link between The Clearing Corporation and Eurex Clearing represents the clearing organizations' targeted implementation date and is subject to prior satisfaction of applicable U.
SICOM Revision Of Initial And Maintenance Margins

Date 23/12/2003

SICOM has revised the initial and maintenance margins for trading in SICOM rubber contracts with effect from 22 December 2003. Details on the revisions can be viewed by clicking here.
SEC Halts $800 Million Investment Fraud In Orange County

Date 23/12/2003

The Securities and Exchange Commission announced today the filing of charges to halt a fraudulent scheme in which over 5,200 investor accounts purportedly hold investments of over $813 million through an Orange County, Calif., business known as Financial Advisory Consultants (FAC). The SEC's complaint, filed yesterday in federal district court, names James P. Lewis, Jr., of Laguna Niguel, Calif., who allegedly has sold securities in two funds, known as the Income Fund, Ltd. and the Growth Fund,
SEC Files Emergency Action Against Security Brokerage, Inc. And Daniel Calugar For Engaging In Mutual Fund Late Trading And Market Timing Schemes - Court Orders Immediate Freeze Of Defendants' Assets And Orders Defendants Not To Destroy Documents

Date 23/12/2003

The Securities and Exchange Commission yesterday filed civil fraud charges against Security Brokerage, Inc. of Las Vegas and its president and majority owner, Daniel Calugar, for their participation in a scheme to defraud mutual fund shareholders through improper late trading and market timing. From at least 2001 to 2003, Calugar, trading through Security Brokerage, reaped profits of approximately $175 million from improper late trading and market timing, principally through mutual funds managed

Santa Claus Makes His First Stop To Ring The Closing Bell<SUP>™</SUP> At The NYSE

Date 23/12/2003

In celebration of the Christmas holiday, the Exchange will close at 1:00 p.m. on December 24 and Santa Claus will ring the Closing Bell.
S&P Equity Market Analysts Reports Pension Under-Funding At Historic High Despite Market Gains; New Reporting Requirements By FASB To Offer Investors More Insight Into Pensions

Date 23/12/2003

Standard & Poor's, the independent financial research, ratings and indices leader, today announced research from its Investment Services division showing that pension funding continued to deteriorate through 2003 even given sharp market increases. Despite the first market gain since 1999, pension under-funding in the S&P 500 grew to a record $259 billion from $212 billion in 2002.
OMHEX Completes Overview Of Energy Product Portfolio

Date 23/12/2003

As a part of OMHEX's (then OM) streamlining program announced on June 30, 2003, OMHEX has conducted an overview of the products and operations within the Energy product portfolio. The overview has resulted in the following:
NYSE Closed On December 25 - Early Closure On December 24 And 26

Date 23/12/2003

The Exchange will be closed on December 25, 2003 for Christmas and will close early on December 24th and 26th.
LCH.Clearnet Merger Completes

Date 23/12/2003

Euronext NV welcomes the announcement by The London Clearing House ("LCH") that the merger of LCH and Clearnet has been completed yesterday as scheduled to create Europe's leading provider of clearing and central counterparty services.