News Centre

SEC Charges Kansas For Understating Municipal Bond Exposure To Unfunded Pension Liability - Enforcement Action Stems From Nationwide Review Of Muni Bond Disclosure

Date 11/08/2014

The Securities and Exchange Commission today announced securities fraud charges against the state of Kansas stemming from a nationwide review of bond offering documents to determine whether municipalities were properly disclosing material pension liabilities and other risks to investors.  According to the SEC’s cease-and-desist order instituted against Kansas, the state’s offering documents failed to disclose that the state’s pension system was significantly underfunded, and the unfunded pension liability created a repayment risk for investors in those bonds.

FIX Trading Community Awards Global Recognition For Positive Impact Contribution To Connamara Systems QuickFIX Open Source Project

Date 11/08/2014

Connamara Systems, LLC (Connamara), a provider of services to exchanges, swap execution facilities, commodity trading advisors (CTAs) and hedge funds, today announced the non-profit, industry-driven standards body for global financial trading, FIX Trading Community,  awarded Connamara Systems and its founder, Jim Downs, recognition for the QuickFIX Open Source Project’s positive impact in the global trading community and FIX standard adaptation on the FIX Trading Community’s 20th Anniversary. Since QuickFIX’s launch in 2002, it is estimated that there have been nearly1 Million downloads.  This number includes QuickFIX’s versions for Java and for .NET. Also receiving an award was Oren Miller and a small engineering team from Thoughtworks for their role in the creation of QuickFIX.

ACER Adopts A Decision On The Allocation Of Costs For The Gas Interconnection Project Between Poland And Lithuania

Date 11/08/2014

In order to expand Europe’s energy infrastructure to support the market integration and the penetration of renewable-based generation, the EU adopted last year a Regulation on guidelines forTrans-European Energy Infrastructure and identified a list of 248 key projects, the so-called Projects of Common Interest (PCIs). Among other tasks attributed to ACER in this domain, the Agency decides on Cross-Border Cost-Allocation (CBCA) for a given PCI when the National Energy Regulators (NRAs) in the concerned Member States are unable to reach an agreement. Today ACER has adopted its first CBCA decision on a PCI, the Gas interconnection Poland Lithuania (GIPL). Preliminarily, the Agency concludes that the overall economic benefits delivered by GIPL to the involved countries are twice as high as its costs. 

BATS Global Markets July Highlights - Reports 20.3% U.S. Equities Market Share - 21.5% European Equities Market Share - BATS Becomes World’s Largest Equities Market Operator In July, Executing $1.27 Trillion In Notional Value Of Transactions

Date 11/08/2014

BATS Global Markets (BATS) today reported July U.S. equities market share of 20.3% and European equities market share of 21.5%, with both figures an increase from June.

Russian National Arraigned On Indictment For Distributing Credit Card Data Belonging To Thousands Of Card Holders

Date 11/08/2014

A Russian national indicted for hacking into point of sale systems at retailers throughout the United States and operating websites that distributed credit card data of thousands of credit card holders appeared today for arraignment in U.S. federal court, announced U.S. Attorney Jenny A. Durkan of the Western District of Washington and Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division. 

Misys Acquires Custom Credit Systems, A Leading Provider Of Credit Workflow And Loan Origination Software

Date 11/08/2014

Misys, the leading financial software company, has acquired Custom Credit Systems (CCS), a US-based provider of commercial loan origination and loan  workflow management software. The combination of CCS and Misys results in the most comprehensive solution for the entire loan lifecycle across all lending asset classes, globally.

Cairo Amman Bank Flash Comment: JD Deposits At Banks Up By 404 Million JD In June 2014, Weighted Average Interest Rate Continues To Drop

Date 11/08/2014

In June of this year, JD deposit increased by 404 million JD to reach a total of 23 billion JD at licensed banks.

The Egyptian Exchange (EGX) Monthly Statistical Report July 2014

Date 11/08/2014

Total number of listed companies on the main market amounted to 216 at the end of July 2014. Meanwhile, the number of listed companies on Nilex reached 24 at the end of the month.

EU-Funded Tool To Help Our Brain Deal With Big Data

Date 11/08/2014

Every single minute, the world generates 1.7 million billion bytes of data, equal to 360,000 DVDs. How can our brain deal with increasingly big and complex datasets? EU researchers are developing an interactive system which not only presents data the way you like it, but also changes the presentation constantly in order to prevent brain overload. The project could enable students to study more efficiently or journalists to cross check sources more quickly. Several museums in Germany, the Netherlands, the UK and the United States have already showed interest in the new technology.

Clearstream’s July 2014 Figures: Continuous Growth Across All Business Areas - Increase In GSF Services Reflect Growing Industry Demand - Stefan Lepp: "Progress Made In Collateral Strategy"

Date 11/08/2014