News Centre

Over 50% Of Delegates Surveyed At Sibos Say Correspondent Banking Is Unsuitable For Payment Values Of Less Than $1,000 - Earthport Survey Shows Majority Of Those Working In Banking Believe Current Model For Making Low Value Cross-Border Payments Unfit For Purpose

Date 29/10/2014

In a survey carried out by Earthport at the recent flagship global banking conference, SIBOS, 51% of attendees surveyed said they believe that correspondent banking is unsuitable for making payments of less than $1,000, whilst 18% say they believe it is unsuitable for making payments of less than $200.  Furthermore, 26% said they believe the current correspondent banking model is unsuitable for making payments of less than $50,000.  This agreement amongst banking professionals, that the correspondent banking model is unsuitable for making low value payments, clearly shows that the model, which was originally designed to make payments for high value international trade, is failing to meet the needs of an ever more globalised economy.

UK's Financial Conduct Authority Statement Re: Tesco

Date 29/10/2014

In the light of the Serious Fraud Office (SFO) decision to launch an investigation into this matter, and following consultation with the SFO, the Financial Conduct Authority has decided to discontinue its own investigation with immediate effect.

UK's Serious Fraud Office: Tesco Investigation

Date 29/10/2014

The SFO confirmed today that the Director has opened a criminal investigation into accounting practices at Tesco plc.

Interim Revision Of The LuxX Index

Date 29/10/2014

As a result of the delisting of the shares of Foyer (ISIN LU0112960504) from the official list of the Luxembourg Stock Exchange, scheduled for Friday, 31 October 2014 after market closing, and in accordance with the rules governing the index, the management board of the Luxembourg Stock Exchange has decided to include the shares of Brederode (ISIN LU1068091351) in the composition of the basket used to calculate the LuxX index (base 1,000 as at 04/01/1999).

ACER Invites Interested Parties To Its 5th Public Debriefing In Brussels

Date 29/10/2014

The 42 ACER Board of Regulators (BoR) plenary meeting will be held in Brussels on 18 November 2014. The ACER Board of Regulators is pleased to invite you to the 5th public debriefing to present the recent activities of the Agency and the BoR. The debriefing is open to the participation of all interested parties but is subject to prior registration. To attend the public debriefing, please register here.

MGEX Board Appoints Public Directors, Officers, Committee Assignments

Date 29/10/2014

At its October 28, 2014 Organizational Meeting, the MGEX Board of Directors named 2014-2015 public directors, Board officers and approved committee assignments.

HKFE Announces Revised Margins For Futures Contracts

Date 29/10/2014

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Monday, 3 November 2014, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.

Deutsche Bank Appoints Sam Wisnia As Head Of FIC Structuring And Head Of Strategic Analytics For CB&S

Date 29/10/2014

Deutsche Bank AG today announced the appointment of Sam Wisnia as Head of Fixed Income & Currencies (FIC) Structuring and Head of Strategic Analytics for Corporate Banking and Securities (CB&S), effective 1 November 2014. Mr. Wisnia will also be a member of the Global Markets Executive Committee. 

SGX: Recent Spike Of Volatility In The SiMSCI Index

Date 29/10/2014

• The MSCI Singapore Index (SiMSCI) futures recorded higher volatility in mid-October with the 10-day volatility gauge for the underlying index returning to September 2013 levels.
• The SiMSCI futures maintain a historically close correlation with the underlying cash index, allow market participants to take advantage of market’s twists and turns.
• Combined with the ability to trade the SiMSCI futures after hours, its recognised correlation to the underlying cash index saw a 42% jump in volume during the first half of October.

UK's Financial Conduct Authority Fines Yorkshire Building Society £4,135,600 For Failings In Dealing With Customers In Mortgage Arrears

Date 29/10/2014

Yorkshire Building Society (YBS) has today been fined £4,135,600 for failings when dealing with its mortgage customers experiencing payment difficulties.