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The EBA Observes A Decrease In High Earners In 2016 And Differences In Remuneration Practices Across The EU

Date 10/04/2018

The European Banking Authority (EBA) published today its report on benchmarking of remuneration practices in EU banks for the financial years 2015 and 2016 and high earners data for 2016. The data shows that in 2016, the number of high earners in EU banks receiving a remuneration of more than EUR 1 million decreased by 10.6% (from 5 142 in 2015 to 4 597 in 2016). In addition, for high earners, the average ratio between the variable and fixed remuneration continued to decrease from 127% in 2014 to 118% in 2015 and 104% in 2016. The same holds true for the ratio between the variable and fixed remuneration of all other identified staff, which decreased from 65.5 % in 2014 to 62.2 % in 2015 and 57.1 % in 2016. The report is part of the EBA's monitoring activities and focuses on the identification of staff, the application of deferral arrangements, the pay out in instruments and the use of specific remuneration elements, e.g. guaranteed variable remuneration and severance payments.
Remarks At The Equity Market Structure Symposium Sponsored By The University Of Chicago And The STA Foundation, SEC Chairman Jay Clayton, Chicago, April 10, 2018

Date 10/04/2018

Thank you for such a kind introduction. And thank you as well to the University of Chicago and the STA Foundation for the invitation to speak today about equity market structure.
CME, DGCX, LME And Borsa Istanbul Discuss Role And Future Of Global Exchanges At DMCC’s Dubai Precious Metals Conference

Date 10/04/2018

At the DMCC hosted Dubai Precious Metals Conference, four of the world’s foremost Exchanges gathered for the first time in Dubai to discuss ‘The Role and Future of Global Exchanges’.
EBA Updates List Of Correlated Currencies

Date 10/04/2018

The European Banking Authority (EBA) updated today the list of closely correlated currencies that was originally published in December 2013 and updated in October 2016. The list is part of the implementing technical standards (ITS) that were drafted for the purposes of calculating the capital requirements for foreign-exchange risk according to the standardised rules. The list was updated according to the procedure and methodology laid down in the ITS and submitted to the European Commission for endorsement.
OCC Continues To Clear the Path for the Exchange-Listed Options Industry, By Scot Warren, OCC Chief Administrative Officer, April 10, 2018

Date 10/04/2018

One of OCC's goals as the foundation for secure markets is to safeguard the integrity of cleared markets through safe and sound practices in our role as a Systemically Important Financial Market Utility (SIFMU). To help us achieve that goal, in March, OCC implemented a new cash clearing fund requirement, a measure that requires our clearing firms to collectively deposit and maintain $3 billion in cash our clearing fund.

EFSF Raises €3 Billion In New 8-Year Bond

Date 10/04/2018

The European Financial Stability Facility on Tuesday raised €3 billion in a new 8-year bond, meeting more than half of its funding needs for the second quarter.
The New Stock Exchange In Kazakhstan, AIX And Tel-Aviv Stock Exchange Signed An Agreement Of Cyber Security Partnership

Date 10/04/2018

The Tel-Aviv Stock Exchange (TASE) and new stock exchange in Kazakhstan – the Astana International Exchange (AIX), established as part of the Astana International Financial Centre (AIFC), announced that they signed an agreement of Cyber Security Consultancy. Since its inception AIX focuses on cybersecurity and cooperates with the several professional consultants and partners in respect of this issue. This will be the first time that TASE is to provide professional consultant cyber security services to another stock exchange. The agreement has been signed based on the high level of professionalism and the many years of experience of TASE’s professional personnel in the field of cyber security – one of the major challenges currently confronting stock exchanges and financial institutions throughout the world.
Recommended Cash Acquisition Of Fidessa Group Plc By Temenos Holdings UK Limited A Wholly Owned Subsidiary Of Temenos Group AG - Update On Satisfaction Of US Anti-Trust Condition And FCA Regulatory Condition

Date 10/04/2018

On 21 February 2018, the boards of Temenos and Fidessa announced that they had reached agreement on the terms of a recommended cash offer by Temenos Bidco for the entire issued and to be issued ordinary share capital of Fidessa. It was also announced that the transaction would be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act, and a scheme document was published by Fidessa on March 13, 2018 (the "Scheme Document").
Top Investor Education Professionals Celebrate Historic Milestone As Global Investor Education Conference Turns 10 Years Old - 2018 IFIE-IOSCO Global Investor Education Conference, Hosted By JSDA, Gathers Diverse Experts To Focus On Fostering Financial Resiliency In Rapidly-Changing World Marketplace

Date 10/04/2018

The International Forum for Investor Education (IFIE) and The International Organization of Securities Commissions (IOSCO) celebrated the opening ceremony of the organizations’ 10th annual joint Conference. This year’s Conference is titled “Building Lifelong Financial Resiliency in a Changing Environment.” The Japan Security Dealers Association (JSDA) is the host of the 2018 IFIE-IOSCO Global Investor Education Conference, which will formally end 11 April.
UK Takeover Panel Statement Regarding Fidessa

Date 10/04/2018

On 21 February, the boards of Fidessa and Temenos announced that they had reached agreement on the terms of a recommended firm offer for Fidessa (the “Offer”), to be implemented by means of a scheme of arrangement. On 13 March, Fidessa announced the publication of the scheme circular in relation to the Offer. That circular included notice of the shareholder meetings to approve the Offer, which were both scheduled to be held on 5 April