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Statement On The Joint Industry Plan On tThe Consolidated Audit Trail (“CAT”), SEC Commissioner Kara M. Stein, Nov. 15, 2016

Date 15/11/2016

I would like to thank the staff for all of their work on this Order.  There was a very large cross-divisional team who worked on this matter.  But in particular, I would like to thank David Hsu, Jennifer Colihan, Amy Edwards, Claire O’Sullivan, Rebekah Liu, John Lee, Ted Uliassi, Leigh Duffy, Meridith Mitchell, Tracey Hardin, Maureen Johansen, Daniel Matro, and Devin Ryan.  Also, I would like to thank Garry Goldsholle and David Shillman for heading up this effort.  In addition, I want to thank all of the staff who worked on this issue from the Division of Trading and Markets, DERA, the Office of the General Counsel, the Office of Compliance Inspections and Examinations, the Division of Enforcement, and the Chief Information Security Officer. 

Statement At Open Meeting: Order Approving The Consolidated Audit Trail National Market System Plan, SEC Chair Mary Jo White, Nov. 15, 2016

Date 15/11/2016

Good afternoon.  This is an open meeting of the U.S. Securities and Exchange Commission on November 15, 2016, under the Government in the Sunshine Act.  The Commission today is positioned to take significant action toward the reality of a consolidated audit trail (CAT) that will greatly advance the ability of regulators to oversee today’s sophisticated and constantly evolving securities markets.  Specifically, the Commission will consider a staff recommendation to approve the national market system (NMS) Plan submitted jointly by the self-regulatory organizations (SROs), which the Commission voted to publish for public comment this past April,[1] to create, implement and maintain the consolidated audit trail. 

The MiG Report - TSX - TSX Venture Exchange

Date 15/11/2016

Please click here for the October 2016 MiG Report. 

SEC Approves Plan To Create Consolidated Audit Trail

Date 15/11/2016

The Securities and Exchange Commission today voted to approve a national market system (NMS) plan to create a single, comprehensive database known as the consolidated audit trail (CAT) that will enable regulators to more efficiently and thoroughly track all trading activity in the U.S. equity and options markets. 

Statement At Open Meeting Regarding The Consolidated Audit Trail NMS Plan, SEC Commissioner Michael S. Piwowar, Nov. 15, 2016

Date 15/11/2016

Thank you, Chair White.  Let me join my colleagues in acknowledging the exemplary dedication of the Commission staff on this project. 

ISDA Announces New Head Of Non-cleared Margin Initiative

Date 15/11/2016

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the appointment of Tara Kruse as head of ISDA’s margin for non-cleared derivatives implementation effort. She replaces Mary Johannes, who is leaving the Association to pursue other interests.

ISDA Announces New Head Of Non-cleared Margin Initiative

Date 15/11/2016

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the appointment of Tara Kruse as head of ISDA’s margin for non-cleared derivatives implementation effort. She replaces Mary Johannes, who is leaving the Association to pursue other interests.

BSX CEO Comments ILS Bermuda Convergence 2016

Date 15/11/2016

In a press release issued by ILS Bermuda, Bermuda Stock Exchange CEO Greg Wojciechowski, comments on the ILS Bermuda Convergence 2016 and the ILS Industry.  

Irish Stock Exchange: Global Exchange Market Reaches New Milestone Of Over 10K Debt Listings

Date 15/11/2016

The Global Exchange Market (GEM) of the Irish Stock Exchange (ISE) has reached a significant milestone, with over 10,000 debt securities listed from more than 50 countries, including 2,800 new listings so far in 2016.

Federal Reserve Vice Chairman Stanley Fischer: At "Do We Have A Liquidity Problem Post-Crisis?", A Conference Sponsored By The Initiative On Business And Public Policy At The Brookings Institution, Washington, D.C., November 15, 2016, Is There A Liquidity Problem Post-Crisis?

Date 15/11/2016

Watch live: https://www.brookings.edu/events/do-we-have-a-liquidity-problem-post-crisis/ 

Market liquidity is the ability to rapidly execute sizable securities transactions at a low cost and with a limited price impact. The high degree of liquidity in U.S. capital markets historically has contributed to the efficient allocation of capital through lower costs and a mix of bank- and market-based finance that supports the flexibility of these markets. Regulatory changes may have altered financial institutions' incentive to provide liquidity, raising concerns brought into sharp relief by several "flash events" over the past few years. At the same time, any changes in observed liquidity are also likely accompanied by other related changes--such as in technology--and a more complete assessment of these shifts is important when we think about the effects on liquidity of changes in financial regulations that were induced by the global financial crisis.