News Centre

CFTC Staff Issues Time-Limited No-Action Relief Relating To Certain CDS Clearing-Related Swaps Executed Pursuant To A CDS Settlement Price Process

Date 29/09/2014

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Market Oversight (Division) today issued an extension to No-Action Letter 13-86, previously issued December 31, 2013, which provided time-limited relief relating to certain occasional, off-facility, cleared credit default swaps (CDS) that are entered into pursuant to a derivative clearing organization’s (DCO) rules related to its price submission process for determining end-of-day settlement prices for cleared CDSs. [For the purposes of this relief, this settlement price process is referred to as the “CDS Settlement Price Process,” and the swaps associated with this process are referred to as “Clearing-Related Swaps”].

ISE Holdings Files For Third Exchange License To launch ISE Mercury

Date 29/09/2014

• ISE Mercury will service options market segments not covered by ISE and ISE Gemini.

• All three exchanges will run on ISE’s existing T7® technology platform.

• The launch for ISE Mercury is targeted for the first half of 2015.

OneChicago Changes Fee Structure To Reduce Transaction Friction When Opening And Closing Positions -75% Reduction In Execution Fees Of The OCX.NoDivRisk Product Suite

Date 29/09/2014

OneChicago, LLC (OCX), an equity finance exchange, today announced beginning October 1, 2014 OneChicago will reduce execution fees by 75% from the current $20 per $1 million to $5 per $1 million dollar executed notional value for all OCX.NoDivRisk® product suite which is composed of the “1D” contracts and the recently launched OCX.Weekly products.

Michel Barnier, Vice-President Of The European Commission, Responsible For Internal Market And Services - Attack To Win Games And Defend To Win Trophies: Safeguarding Financial Stability In The EU Single Market - Speech At The Worshipful Company Of World Traders, London, 29 September 2014

Date 29/09/2014

1. Introduction

Good afternoon ladies and gentlemen.

I would like to thank the Master of the Worshipful Company of World Traders, Heather McLaughlin for inviting me here today.

My thanks also go to Lord Mayor Fiona Woolf for her kind introduction and insightful words on the relationship between the City of London and the European Union at this time of considerable change.

CREALOGIX Recognized As A Global Top 100 Fintech Provider

Date 29/09/2014

CREALOGIX, an independent Swiss software house and the Swiss market leader for Digital Banking, today announced that the company has been recognized by IDC Financial Insights to the 2014 Fintech Rankings Top 100 of technology companies in the financial services space, marking its inclusion on the list for the first time.

OCC And The U.S. Options Exchanges Announce New Risk Control Standards To Strengthen Industry Protections

Date 29/09/2014

OCC and the U.S. options exchanges announced today the adoption of risk control standards that include price reasonability checks, drill-through protections, activity-based protections and kill-switch protections, pending regulatory approval.

Two Former Wells Fargo Employees Charged With Insider Trading In Advance Of Research Reports Containing Ratings Changes

Date 29/09/2014

The Securities and Exchange Commission today announced insider trading charges against two former Wells Fargo employees involved in an alleged scheme to profit by buying or short selling a stock before research analyst reports were published containing a ratings change.

CME Group And CFFEX Sign Market Data Agreement

Date 29/09/2014

CME Group, the world's leading and most diverse derivatives marketplace, and China Financial Futures Exchange Inc. (CFFEX), the sole financial derivatives exchange in mainland China, announced today that they have signed an agreement on market data provision.  Under this agreement, CME Group will license and distribute CFFEX market data outside of mainland China, to customers of CME Group's recognized market data distribution platform.

SEC Charges Bank Of America With Securities Laws Violations In Connection With Regulatory Capital Overstatements

Date 29/09/2014

The Securities and Exchange Commission today charged Bank of America Corporation with violating internal controls and recordkeeping provisions of the federal securities laws after it assumed a large portfolio of structured notes and other financial instruments as part of its acquisition of Merrill Lynch.

SWIFT To Launch New Business Intelligence Solution For Securities Markets - Watch For Securities Will Provide Market Participants With Greater Business Insights To Inform Decision Making

Date 29/09/2014

SWIFT announces today at Sibos the introduction of Watch for Securities, a new business intelligence solution that will help securities market participants to monitor and gain valuable business insights from their network traffic. The new Watch for Securities offering is expected to go live in Q1 2015 with an early adopter programme planned for the end of 2014.