News Centre

Commodity Hedge Funds Continue Building Momentum In 2014 - Newedge Commodity Trading Index Up 0.63% In June, 3.55% YTD

Date 30/07/2014

Newedge, a global leader in multi-asset brokerage and clearing, today announced the performance for its suite of hedge fund indices for the month of June. 

Moscow Exchange: Fund Transfers Using Trading System

Date 30/07/2014

Fund transfers using the trading system will be unavailable until the end of the trading day due to the earlier suspension of Equity & Bond Market trading.

Xignite, Wealthfront And Independent Research Firm Analyst Address The Automated Investment Service Revolution - FinTech Webinar Examines Wealth Management Technology Trends

Date 30/07/2014

Leaders from major financial technology start-up companies Xignite and Wealthfront, join guest speaker Bill Doyle, Vice President and Principal Analyst at Forrester Research, Inc., to provide their insights into a new digital era, which is revolutionizing the wealth management sector and challenging traditional wealth management advisory models.

Moscow Exchange: Resumption Of Equity & Bond Market Trading

Date 30/07/2014

CME Group And GFI Group Announce Plan For Strategic Transactions - CME Group To Acquire Trayport And FENICS From GFI Group - GFI Group Stockholders To Receive $4.55 Per GFI Group Share In CME Group Stock Creating Substantial Stockholder Value - GFI Group's Wholesale Brokerage To Be Acquired By Private Consortium Of Current GFI Group Management

Date 30/07/2014

CME Group, the world's leading and most diverse derivatives marketplace, and GFI Group Inc., a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets, today announced that they have entered into definitive agreements to create value for their respective stockholders through a two-step transaction through which:

• CME Group will acquire Trayport and FENICS. CME Group will purchase these businesses by first acquiring all of the outstanding shares of GFI Group in exchange for $4.55 per share in CME Group Class A Common Stock which represents a 46% premium above yesterday's closing price of $3.11 per share of GFI Group common stock.
• Immediately following the acquisition of GFI Group, a private consortium of GFI Group management, led by current Executive Chairman Michael Gooch, CEO Colin Heffron and Managing Director Nick Brown, will acquire GFI Group's wholesale brokerage and clearing businesses for $165Min cash and the assumption, at closing, of approximately $63M of unvested deferred compensation and other liabilities. After completion of the transaction, the wholesale brokerage business, including the Kyte Group, will continue as a private company with its management and operations largely unchanged. The continuing GFI Group brokerage business will maintain its commitment to both Trayport and FENICS by entering into long-term commercial agreements.

Moscow Exchange: Update On Equity & Bond Market Trading Suspension

Date 30/07/2014

Moscow Exchange is currently working to resolve the issues disrupting Equity & Bond Market trading.

ISDA Publishes Bilateral Form Of Amendment Agreement For Certain Silver Transactions

Date 30/07/2014

ISDA has published a Bilateral Form of Amendment Agreement for Certain Silver Transactions, which addresses the winding down of the administration of the London Silver Fix by the London Silver Market Fixing Limited on August 14, 2014. Counterparties with outstanding contracts referencing the ‘SILVER-FIX’ can use the amendment agreement to replace that with a new commodity reference price, which may include a reference to the new London Silver Price, expected to be available from August 15, 2014. The amendment agreement can be downloaded here, while an explanatory note can be found here.

Moscow Exchange: Settlement Time For Trades On The Equity & Bond Market Postponed

Date 30/07/2014

Due to the trading suspension on the Equity & Bond Market, the National Clearing Centre will not settle trades in the first clearing pool at the established time.

BBA Comment On BoE Announcement On Remuneration

Date 30/07/2014

Responding to the Bank of England announcement on responsibility and accountability in the banking sector, Anthony Browne, chief executive of the BBA, said:

“One banker rewarded for failure is one too many. That’s why banks have already taken steps to right the wrongs of the last decade, cutting cash bonuses by more than 75% and fixing rewards more closely to the long-term health of the business. We also agree that clawbacks can certainly be a useful way to discourage wrongdoing and are in the interests of customers and shareholders."

UK's Financial Conduct Authority: Financial Incentives For Whistleblowers

Date 30/07/2014

As part of our response to the PCBS recommendations we agreed to conduct further research into the impact of financial incentives on encouraging whistleblowing in the US, working with the Treasury and the Department for Business, Innovation and Skills (BIS), and to publish the conclusions.