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Korea Exchange: Rules On Receiving Orders Will Be Revised On May 30, 2005

Date 26/05/2005

Target price order will be newly introduced applicable to both markets). Institutions and foreign investors wish to have their orders matched at the volume-weighted average price of the day, but the current rules provide no clear ground to allow traders to place orders targeting a specific price. In light of such demand, the rules have been revised to permit a new type of order, the aggregated volume of which is entrusted to be matched at a specific price(target price order).
Korea Exchange: After-Hours Trading Has Been Extended To 18:00 On May 30, 2005

Date 26/05/2005

Korea Exchange (KRX) has extended after-hours trading to 18:00 and introduced off-hours single price trading during which trades are to be executed every 30 minutes in an effort to eliminate the inconveniences caused by the suspension of ECN market operations scheduled for May 28, offer additional trading opportunities to investors, and accommodate various trading needs
Helsinki Stock Exchange: Warning Issued To Nokia Corporation Due To Negligence In Correcting Changed Information

Date 26/05/2005

The Disciplinary Committee of The Helsinki Stock Exchange has issued Nokia Corporation with a warning for breaching the disclosure requirements applicable to listed companies. The Disciplinary Committee considered that the company had neglected to disclose without an undue delay the change concerning its previously published earnings per share forecast of which the company was aware.
Harmonization Of Trading Rules Of The Stock Market And The KOSDAQ Market

Date 26/05/2005

The trading rules of Korea’s two stock markets, the Stock Market Division and the KOSDAQ Market Division of the Korea Exchange, will be harmonized to prevent confusion amongst investors arising as a result of the differences between the rules of the two markets and to reduce IT costs for securities companies.
FSA Sets Out A Good Practice Model For Stress Testing And Invites Comment

Date 26/05/2005

The FSA has today invited comments from firms on what constitutes good practice in the use of stress testing. Research by the FSA found that whilst stress testing has improved, there were wide variations in sophistication and coverage between firms.

Federation Of European Securities Exchanges General Assembly – 25th May 2005

Date 26/05/2005

The General Assembly of the Federation of European Securities Exchanges took place in Brussels on 25 April 2005 with FESE President Massimo Capuano in the Chair.
European Commission: Approval Of New Directive Will Boost Fight Against Money Laundering And Terrorist Financing

Date 26/05/2005

The European Commission has welcomed the European Parliament’s approval of the proposed Third Directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. The Directive applies to the financial and other key services sectors and also covers all providers of goods, when payments are made in cash in excess of €15.000. Those subject to the Directive must cooperate in the fight against money laundering by taking various measu
Demutualisation Of The JSE Securities Exchange South Africa

Date 26/05/2005

The rights holders of the JSE Securities Exchange South Africa (“JSE”) approved the demutualisation of the JSE with an overwhelming majority at a special general meeting held, yesterday, 26 May 2005. Subject to obtaining the Financial Services Board’s consent for the demutualisation, the JSE will start a new chapter in its history as JSE Limited, a public company, on 1 July 2005.
Bursa Malaysia’s Debut AGM As Listed Entity Successfully Concluded

Date 26/05/2005

Bursa Malaysia Berhad (Bursa Malaysia) is pleased to announce that its audited financial statements for the year ended 31 December 2004 was successfully received and adopted by its shareholders at the Group’s 28th Annual General Meeting (AGM) today. Seven other resolutions tabled were also passed at the AGM. Over 500 shareholders were in attendance at the AGM, which was Bursa’s first, as a listed entity.
AtosEuronext To Provide Trading, Clearing And Settlement Systems To The Teheran Stock Exchange - The Tehran Stock Exchange And AtosEuronext Have Signed An Information Systems Agreement Whereby AtosEuronext Will Provide TSE With A Full Range Of Electronic

Date 26/05/2005

AtosEuronext, a leading international IT provider serving capital markets, has been selected by the Tehran Stock Exchange (TSE) to provide electronic trading, clearing, settlement, depository, registry and market control systems to facilitate TSE expansion.