News Centre

Credit Suisse And UBS To Merge - Ad Hoc Announcement Pursuant To Art. 53 LR

Date 19/03/2023

Credit Suisse and UBS have entered into a merger agreement on Sunday following the intervention of the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority FINMA (FINMA). UBS will be the surviving entity upon closing of the merger transaction. Under the terms of the merger agreement all shareholders of Credit Suisse will receive 1 share in UBS for 22.48 shares in Credit Suisse. Until consummation of the merger, Credit Suisse will continue to conduct its business in the ordinary course and implement its restructuring measures in collaboration with UBS. The Swiss National Bank will grant Credit Suisse access to facilities that provide substantial additional liquidity. On March 19, 2023, Swiss Federal Department of Finance, the Swiss National Bank and FINMA have asked Credit Suisse and UBS to enter into the merger agreement. Pursuant to the emergency ordinance which is being issued by the Swiss Federal Council, the merger can be implemented without approval of the shareholders. The consummation of the merger remains subject to customary closing conditions.

UBS To Acquire Credit Suisse - Transaction Creates Significant Sustainable Value For UBS Shareholders

Date 19/03/2023

• Creates leading global wealth manager with USD 5 trillion of invested assets across the Group
• Extends UBS lead in Swiss home market
• UBS strategy unchanged, including focus on growth in Americas and APAC
• Attractive financial terms which include downside protection
• Annual run-rate of cost reduction of more than USD 8 billion expected by 2027
• UBS remains strongly capitalized well above our target of 13% and committed to progressive cash dividend policy
• A focused Investment Bank, remaining committed to UBS’s model; strategic Global Banking businesses to be retained, majority of Credit Suisse markets positions moved to non-core

Tehran Stock Exchange Weekly Market Review 11 March 2023 To 15 March 2023

Date 19/03/2023

Click here to download Tehran Stock Exchange's weekly market review.

To Enhance The Competitiveness, The Amman Stock Exchange Amends The Directives For Listing Securities, And Approves The Rules For Establishing The Investor Relations Unit (IR) As Of The Current Year

Date 19/03/2023

Mr. Mazen Wathafi Chief Executive Officer of Amman Stock Exchange company (ASE) said that in light of the ASE's efforts to develop all regulatory and legislative frameworks and apply the latest international standards and practices in the market in order to enhance the investment climate and enhance its competitiveness, the ASE has amended the Directives for listing securities for the year 2018, and approved the rules for establishing an investor relations unit in the listed companies, he indicated that a new item has been added to the provisions of Article (9) of the Directives for listing securities obligating the listed companies included in the ASE20 index sample to establish a unit or department responsible for investor relations in accordance with the rules set by the ASE, he added that the investor relations play an important and vital role in opening effective channels of communication with financial analysts, investors, media representatives, shareholders and others, and transmitting the information of the market to the company’s  board of directors and executive management, which leads to consolidating the relationship with current and potential investors and enhancing the attractiveness and competitiveness of these companies, as well as reducing negative rumors that lead to disruption, confusion in the market and fluctuations in prices and trading volumes.

The Amman Stock Exchange Working And Trading Hours During The Holy Month Of Ramadan

Date 19/03/2023

On the occasion of the holy month of Ramadan, the ASE has decided to change the official working and trading hours as follows:

Egypt Financial Regulatory Authority & EGX Chairmen Participate in RiseUp Summit "Stay Real" Launching “CORBEH” - Innovation Hub & Sandbox for Non-Banking Financial Sector

Date 19/03/2023

Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), and Mr. Rami ElDokany, Executive Chairman of the Egyptian Exchange (EGX), participated in “RiseUp Summit”, the largest entrepreneurship event in the Middle East at the Grand Egyptian Museum. Inspired by this year’s theme - “Stay Real”, the summit witnessed a huge participation from entrepreneurs, startups, and key figures from financial and business communities. 

Bursa Malaysia Leadership Misrepresented On Social Media - Public Advised To Be Alert And Not Fall Victim To Impersonators

Date 19/03/2023

Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) would like to inform the public that it has identified Facebook pages that have misrepresented its Chief Executive Officer, Datuk Muhamad Umar Swift. The Exchange would like to reiterate that these Facebook pages have no relation to Datuk Muhamad Umar nor the Exchange and measures are being taken to remove them.

A National Key R&D Program The “Intelligent Monitoring And Discovery Technology Of Abnormal Trading Behaviors And Its Application Demonstration” Project Led By Shenzhen Stock Exchange Officially Launched

Date 18/03/2023

On March 22, SZSE successfully held the Launch Meeting & Implementation Plan Demonstration Meeting of the “Intelligent Monitoring and Discovery Technology of Abnormal Trading Behaviors and Its Application Demonstration” Project (hereinafter referred to as the Project) in Beijing. The Project is a major project of the national key R&D program “scientific and technological support for social governance and smart society”. The meeting marked the start of the official implementation phase of the Project. More than 60 persons including the relevant officials of the management unit, the referrer unit and the implementer of the Project, experts of the project team and backbone workers of the Project attended the meeting. At the meeting, the project team experts listened to the reports on the Project and its implementation plan and unanimously approved the demonstration of the implementation plan of the Project.

Comments On Proposed Expansion Of Regulation SCI, SEC Commissioner Hester M. Peirce, March 15, 2023

Date 17/03/2023

Thank you, Mr. Chair. I dissent from the proposal to update Regulation SCI and expand the entities subject to it. Reg SCI is a well-intentioned effort to ensure that the technology infrastructure of our markets is strong and resilient. Sometimes, however, good intentions lead to bad outcomes, particularly when those good intentions involve micromanaging a firm’s operations. If finalized, this proposed expansion of Reg SCI is an example of just this sort of micromanagement. Accordingly, I fear it will primarily enable us to pad future enforcement actions with additional charges while undermining the integrity of the systems it aims to protect.

TMX Group To Appoint Luc Bertrand As Chair Of The Board, Charles Winograd To Retire At 2023 Annual Shareholder Meeting

Date 17/03/2023

TMX Group Limited (TMX Group) today announced its intention to appoint Luc Bertrand as Chair of the Board upon his election as an independent director at the company's Annual and Special Meeting on May 2, 2023. Charles Winograd will retire from the board at that time, following more than a decade of service as Chair.