News Centre

SIFMA Issues 2018 Recommendations For Full And Early Holiday Closes In Japan

Date 07/03/2017

SIFMA today confirmed its 2018 holiday recommendations for the trading of US dollar-denominated fixed-income securities in Japan.

Council of Institutional Investors: Dual-Class Race To The Bottom Accelerates

Date 06/03/2017

Snap Chair of the Board Michael Lynton, in a letter to CII, defended the company’s offering of no-vote shares to public investors in its IPO. Lynton was responding to a letter from CII and 18 investors that objected to the zero-vote shares. Lynton noted that the founders and top executives already have super-voting rights.  Lynton said the board concluded “it would benefit our stockholders to extend this control beyond the IPO” because the dual-class structure “prolongs our ability to remain a founder-led company,” which “will maximize our ability to create stockholder value.” In Asia, meanwhile, exchanges are rethinking their longstanding opposition to dual class shares. On February 16, the Singapore Exchange (SGX), launched a consultation on permitting dual-class share structures. A proposal by the Hong Kong Exchange to permit dual class was shot down by its regulator in 2015, but HKE’s CEO Charles Li in January suggested the topic be revisited.

Deutsche Börse: Unscheduled Free Float Adjustment Of GfK SE In SDAX - Changes To Be Effective As Of 9 March 2017

Date 06/03/2017

On Monday, Deutsche Börse announced an unscheduled change to the SDAX index. Due to the acquisition of GfK SE by Acceleratio Capital N.V., the free float of GfK SE changed again by more than 10 percentage points. According to the Guide to the Equity Indices of Deutsche Börse AG, the company’s free float will be adjusted in the index from the current 24.22 percent to 14.15 percent. The free float of GfK SE has already been adjusted as of 20 February 2017.

Ontario Securities Commission Seeks Applications For Investor Advisory Panel

Date 06/03/2017

The Ontario Securities Commission (OSC) is inviting applications for membership on its Investor Advisory Panel (IAP), which provides an investor perspective on the policy- and rule-making processes of the OSC.

CFTC Financial Data For Futures Commission Merchants Update

Date 06/03/2017

Financial Data for Futures Commission Merchants has recently been updated, and is now available.

http://www.cftc.gov/MarketReports/financialfcmdata/index.htm

Comptroller Of The Currency Discusses Financial Technology Innovation

Date 06/03/2017

Comptroller of the Currency Thomas J. Curry today discussed financial technology innovation during a large industry conference. His remarks highlighted the potential for responsible innovation to expand financial inclusion and improve the delivery of banking products and services. During the speech, the Comptroller also provided an update on initiatives by the Office of the Comptroller of the Currency to support responsible innovation within the federal banking system.

Ontario Securities Commission Shares Insights From Canada’s First Regulatory Hackathon

Date 06/03/2017

The Ontario Securities Commission (OSC) today published a white paper and video to highlight key insights gained from RegHackTO, the first hackathon by a securities regulator in Canada.

DTCC DataPro Enhances Data Offerings, Covers Major Asset Classes - Previously Known As DTCC Data Products, DTCC DataPro To Offer New Products, Including Trade Information Warehouse Market Reports

Date 06/03/2017

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that the DTCC DataPro product suite, previously known as DTCC Data Products, will be enhanced to include additional data offerings covering major asset classes. DTCC DataPro delivers both referential and activity-based data solutions that help clients address evolving operational, regulatory compliance, risk management and investment processes.

SEC Economist Receives Award For Academic Work On Market Insights

Date 06/03/2017

Securities and Exchange Commission economist Dr. Giulio Girardi today received The Financial Analyst Journal’s Graham and Dodd Top Award for 2016.  Dr. Girardi is a Branch Chief in the SEC’s Division of Economic and Risk Analysis’s (DERA) Office of Risk Assessment. 

UK's Competition Appeal Tribunal: Intercontinental Exchange, Inc Versus Competition And Markets Authority

Date 06/03/2017

Summary

Judgment of the Tribunal in connection with applications by Intercontinental Exchange, Inc. (“ICE”) for review, under section 120 of the Enterprise Act 2002 (“the Act”), of the following decisions of the Competition and Markets Authority (“the CMA”): (1) the CMA report dated 17 October 2016 (“the Report”) in which it found that ICE’s purchase of the entire issued share capital of Trayport Inc and GFI TP Ltd and their subsidiaries (together, “Trayport”) (“the Transaction”) was likely to result in a substantial lessening of competition (“SLC”) within the meaning of section 35 of the Act; and (2) the direction (“the Direction”) issued by the CMA on 10 November 2016 directing ICE and Trayport (“the Merging Parties”) to cease implementation of an agreement entered into between the Merging Parties on 11 May 2016 (“the New Agreement”).