News Centre

Malaysia Singled Out For Consistent Improvement

Date 21/10/2014

Malaysia has retained its 4th position in the CLSA Limited (CLSA) Asian Corporate Governance Association (ACGA) Corporate Governance Watch 2014 Report and obtained higher scores improving from 55 to 58 points, closing the gap with the top scorer.

European Commission: Statement By Vice President Joaquín Almunia On 2 Cartel Decisions Concerning Swiss Franc Related Derivatives

Date 21/10/2014

Today the European Commission has found and sanctioned two distinct cartels in the financial sector. In these two decisions, we have imposed total fines of about 94 million euros on four major international banks who violated EU antitrust rules. In both cases, these banks agreed to settle these cases with the Commission, as foreseen in our procedures.

Antitrust: European Commission Settles Cartel On Bid-Ask Spreads Charged On Swiss Franc Interest Rate Derivatives; Fines Four Major Banks € 32.3 Million

Date 21/10/2014

(See also Statement by Commission Vice-President Joaquín Almunia.)

The European Commission has found that four international banks, RBS, UBS, JP Morgan and Crédit Suisse, operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area (EEA). The Commission imposed fines worth a total of € 32 355 000. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. All four banks received a 10% reduction for agreeing to settle the case with the Commission.

Italian FinTech Startup Fairmat Introduces Financial Risk Assessment Web Service - Risk Analytics Of OTC And Structured Products Relies On Xignite Market Data Cloud

Date 21/10/2014

Xignite, Inc., the premier market data cloud services provider, today announced that Fairmat SRL, of Verona, Italy, is powering its web-based financial risk service with Xignite market data. The web-based service provides on-demand, pay-as you-go analytics for users lacking financial modeling skills, as well as those requiring infrequent risk and pricing analysis.

Antitrust: European Commission Settles RBS-JPMorgan Cartel In Derivatives Based On Swiss Franc LIBOR - Imposes € 61.6 Million Fine On JPMorgan

Date 21/10/2014

(See also the Statement by Commission Vice-President Joaquín Almunia.)

The European Commission has found that two international banks, RBS and JP Morgan, participated in an illegal bilateral cartel aimed at influencing the Swiss franc Libor benchmark interest rate between March 2008 and July 2009. Such collusion is prohibited by EU antitrust rules. The banks agreed to settle the case with the Commission under a simplified procedure. RBS received immunity from fines for revealing the existence of the cartel to the Commission. JPMorgan was fined € 61 676 000 after benefitting from a reduction of its fine for its cooperation with the investigation under the Commission's 2006 Leniency Notice, as well as a 10% reduction for agreeing to settle the case with the Commission.

Moscow Exchange: New Indicative FX Rate Methodology To Take Effect

Date 21/10/2014

The new version of the Indicative FX rate methodology approved by the Moscow Exchange Supervisory Board on 17 October, is to come into force on 22 October.

CQG To Offer New Full Service Connectivity To Eris Exchange

Date 21/10/2014

CQG, Inc. today announced its planned connectivity to Eris Exchange, a US-based futures exchange offering capital efficient interest rate swap futures. The new offering will provide CQG customers with access to Eris' Swap Futures for market data, analytics and trade execution through an array of CQG trading platforms.

AED 2.6 Billion Of Trading Through Smart Phone Applications In 2014 To Date -Dubai Financial Market Inks Memorandum Of Understanding With “Raqmiyat” And “Kony” To Develop “Smart Borse” Applications - The Exchange Honors 7 Brokerage Firms Enabling Its Customers To Trade Via Smart Phone Applications

Date 21/10/2014

Dubai Financial Market (DFM) signed a Memorandum of Understanding (MoU) with “Raqmiyat” and “Kony” with the aim to develop a series of applications as part of the exchange’s strategy to fully implement the “Smart Borse” concept over the coming period.

NICE Actimize Partners With Alacra To Integrate Compliance And Reference Data Platform Technology Into The Actimize Customer Due Diligence Anti-Money Laundering Solution - The Product Alliance Marries NICE Actimize Workflow And Analytics Functionality With Alacra’s Reference Data Tools To Create Industry-Leading Customer Risk Assessment

Date 21/10/2014

NICE Actimize, a NICE Systems (NASDAQ:NICE) business and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, announced today that it has partnered with Alacra, Inc., a leading provider of online business information solutions. The alliance is designed to integrate Alacra’s market leading customer onboarding and Know-Your-Customer tool, Alacra Compliance Enterprise (“ACE”) and Alacra’s Reference Data Platform, into NICE Actimize’s Customer Due Diligence (“CDD”) anti-money laundering solution. The combined solution will create one of the most advanced and innovative customer risk assessment tools in the marketplace.

Shanghai Stock Exchange: Notice Of Releasing “SSE Stock Listing Rules (Revised In 2014)”

Date 21/10/2014

In order to perfect the delisting system for listed companies, the Shanghai Stock Exchange (SSE) has amended contents related to the delisting system in the “SSE Stock Listing Rules (Revised in 2013)” (the original “Listing Rules”), according to the “Opinions on Reform, Improvement and Implementation of the Delisting System of Listed Companies” of the China Securities Regulatory Commission (CSRC). On this basis, the SSE has formulated the “SSE Stock Listing Rules (Revised in 2014)” (the new “Listing Rules”), which has been discussed and approved by the SSE’s Board of Governors and obtained approval from the CSRC. The SSE hereby releases the new “Listing Rules”, which will take effect on November 16, 2014, and the original “Listing Rules” will be abolished at the same time.