News Centre

FIX Trading Community Supports FX Market Efficiency With TESI Extension

Date 24/07/2014

FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, today announced that they have extended the Trading Enablement Standard Initiative (TESI) to include Foreign Exchange (FX) client enablement. TESI uses FIX protocols to achieve more efficient and standardised communication for trading enablements.

Shanghai Stock Exchange: Notice Of Soliciting Public Opinions On “Pre-Disclosure Issues (Draft Version For Opinion Soliciting) Of Shareholding Lessening By Shareholders Of Listed Companies* ”

Date 24/07/2014

The Shanghai Stock Exchange (SSE) has formulated the “Pre-disclosure Issues (Draft Version for Opinion Soliciting) of Shareholding Lessening by Shareholders of Listed Companies for No. 13 Memorandum on Listed Companies’ Work of Day-to-day Information Disclosure”, in order to implement the requirements of the “Opinions of the General Office of the State Council on Further Strengthening the Protection of Small and Medium-sized Investors’ Legitimate Rights and Interests in the Capital Market”, protect the legitimate rights and interests of small and medium-sized investors, and regulate the pre-disclosure issues of shareholding lessening by shareholders of listed companies.

ASX Lowers Fees For Interest Rate Futures Clearing Participants

Date 24/07/2014

From 1 October 2014, ASX will lower fees and increase growth incentives for clearing participants in its interest rate futures and over-the-counter (OTC) clearing business. This will be achieved by implementing a new fee schedule for interest rate futures and by providing volume discounts for OTC clearing. 

Statement Of Commissioner Kara M. Stein - SEC Commissioner Kara M. Stein, Washington, D.C., July 23, 2014

Date 23/07/2014

I want to thank the staff for your thoughtful engagement with my office and all of the hard work that went into these recommendations.  These rules are better for your great work, and your tireless efforts to reach the best policy outcome are commendable.

SEC Approves FINRA Rule To Prohibit Conditioning Settlements On Expungement

Date 23/07/2014

The Financial Industry Regulatory Authority (FINRA) today announced that the Securities and Exchange Commission (SEC) has approved a new rule prohibiting firms and registered representatives from conditioning settlement of a customer dispute on—or otherwise compensating a customer for—the customer's agreement to consent to, or not to oppose, the firm's or representative's request to expunge such information from the Central Registration Depository (CRD™) system.

Strengthening Money Market Funds To Reduce Systemic Risk - SEC Commissioner Luis A. Aguilar Washington, D.C., July 23, 2014

Date 23/07/2014

Today, the Commission considers adopting long-considered reforms to the rules governing money market funds.  I commend the hard work of the staff, particularly the Division of Investment Management and the Division of Economic and Risk Analysis (“DERA”), who worked tirelessly to present these thoughtful and deliberate amendments.  It is well known that the journey to arrive at the amendments considered today was a difficult one, and I can confidently say that this has been, at times, perhaps one of the most flawed and controversial rulemaking processes the Commission has undertaken. 

SIFMA Statement On SEC Money Market Fund Reform

Date 23/07/2014

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, after the Securities and Exchange Commission (SEC) issued a final rule to reform money market funds:

"Money market funds play a vital role in capital formation and credit availability by providing retail and institutional investors with an attractive option for cash investing and enabling businesses to access the short-term funding they need to carry out their daily operations, pay employees and spur economic growth. SIFMA commends Chair White's leadership in navigating the rule to completion and acknowledges the balanced, inclusive and transparent approach taken by the SEC in developing this regulation. Today's final rule will provide the marketplace with a degree of certainty regarding the future of these funds."

SEC Adopts Money Market Fund Reform Rules - Rules Provide Structural And Operational Reform To Address Run Risks In Money Market Funds

Date 23/07/2014

The Securities and Exchange Commission today adopted amendments to the rules that govern money market mutual funds.  The amendments make structural and operational reforms to address risks of investor runs in money market funds, while preserving the benefits of the funds.

Intercontinental Exchange Completes Sale Of Wombat Financial Software To SR Labs

Date 23/07/2014

Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that it has completed its previously announced transaction with SR Labs for the sale of the Wombat Financial Software, a unit of NYSE Technologies. The transaction closed today and terms were not disclosed.

Statement Of Commissioner Daniel M. Gallagher, SEC Commissioner Daniel M. Gallagher, Washington, D.C., July 23, 2014

Date 23/07/2014

Thank you, Chair White.  I would like to join my colleagues in thanking the staff again for all of the hard work that went into today’s adopting release.  I would like to extend a special thank you to Norm Champ, David Grimm, Diane Blizzard, Sarah ten Siethoff, and Thoreau Bartmann in the Division of Investment Management, as well as Jennifer Marietta-Westberg, Vanessa Countryman, Jennifer Bethel and our former colleague Craig Lewis in the Division of Economic and Risk Analysis for their tremendous – and often thankless – efforts on a rulemaking process that has spanned several years and followed a circuitous and sometimes contentious path.  It is because of the staff’s dedication and perseverance that we have arrived where we are today.