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Perseus Tapped In FinTech 50 2014 High-Growth Businesses Of Europe - FinTech 50 Selects Perseus For Short-List Of Game-Changing Innovative Firms For Third Consecutive Year - Award Recognises Firms For Redefining Financial Services Through Technology

Date 28/01/2014

vPerseus Telecom, a leading provider of high-speed global networks, market-to-market microwave connectivity and High Precision Time™, has been named as one of the FinTech 50 2014 companies in Europe. The award recognises Perseus for its high-growth momentum and technological innovation within the fast-paced financial services sector. 

FINRA Fines Banorte-Ixe Securities $475,000 For Inadequate Anti-Money Laundering Program And For Failing To Register Foreign Finders - Firm Failed To Monitor, Detect And Report $28 Million Activity In Customer Account Reportedly Tied To Mexican Drug Cartel

Date 28/01/2014

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Banorte-Ixe Securities International, Ltd., a New York-based securities firm that services Mexican clients investing in U.S. and global securities, $475,000 for not having adequate anti-money laundering (AML) systems and procedures in place and for failing to register approximately 200 to 400 foreign finders who interacted with the firm's Mexican clients. FINRA also suspended Banorte Securities' former AML Officer and Chief Compliance Officer, Brian Anthony Simmons, for 30 days in a principal capacity, as he was responsible for the firm's AML procedures and for monitoring suspicious activities. As a result of the firm's AML compliance failures, Banorte Securities opened an account for a corporate customer owned by an individual with reported ties to a drug cartel, and did not detect, investigate or report the suspicious rapid movement of $28 million in and out of the account.

Results Of The December 2013 Survey On Credit Terms And Conditions In Euro-Denominated Securities Financing And OTC Derivatives Markets (SESFOD)

Date 28/01/2014

• • Price terms tightened, especially for banks and dealers as well as insurance companies.

  • Terms offered to hedge funds and non-financial corporations eased overall.

  • Demand by counterparties for funding of all types of collateral increased.

  • Taken in isolation, implementation of leverage, liquidity coverage and net stable funding ratio regulatory initiatives is expected to lead to no more than a 25% decrease of securities financing books.

   

FESE Response To ESMA Discussion Paper On Market Abuse Regulation

Date 28/01/2014

FESE supports efficient, fair, orderly and transparent financial markets that meet the needs of well protected and informed investors and provide a source for companies to raise capital and for investors to hedge their portfolios. In this regard, FESE welcomes the opportunity to provide feedback to ESMA on policy orientations on possible implementing measures under the Market Abuse Regulation.

Egyptian Exchange Launches Nilex First Index

Date 28/01/2014

The Egyptian Exchange (EGX) started to take practical steps towards activating the first index that measures the performance of listed companies of the market for small and medium enterprises, NILEX. EGX indices committee studied, during its last meeting held on the 23rd of January, the launch of NILEX Index choosing from different methodologies.

MGEX Breaks Into Top 15 Daily Open Interest Records

Date 28/01/2014

MGEX, a Designated Contract  Market  (DCM)  and  Derivatives Clearing Organization (DCO), reports that open interest reached the top 15 on the daily Exchange open interest records after Monday’s trade date.

ASIC Accepts Enforceable Undertaking From BNP Paribas

Date 28/01/2014

ASIC today accepted an enforceable undertaking (EU) from BNP Paribas (BNP) in relation to potential misconduct involving the Australian Bank Bill Swap Rate (BBSW). 

SEC Issues Risk Alert On Investment Advisers’ Due Diligence Processes For Selecting Alternative Investments

Date 28/01/2014

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today issued a Risk Alert on the due diligence processes that investment advisers use when they recommend or place clients’ assets in alternative investments such as hedge funds, private equity funds, or funds of private funds.  

OCC Prepares To Launch OTC S&P 500 Equity Index Options Clearing

Date 28/01/2014

OCC announced today it has received regulatory approvals to clear over-the-counter (OTC) equity index options, bringing capital and operational efficiencies and enhanced customer protections to the equity derivatives marketplace. 

The Commodity Futures Trading Commission’s Division Of Market Oversight Announces Trade Execution Mandate For Certain Credit Default Swaps And Additional Interest Rate Swaps - TW SEF LLC Available-To-Trade Determinations Are Deemed Certified

Date 28/01/2014

The Commodity Futures Trading Commission’s (CFTC or Commission) Division of Market Oversight (Division) today announced that TW SEF LLC’s (Tradeweb) self-certification of available-to-trade determinations (MAT Determination) for certain interest rate swap (IRS) and credit default swap (CDS) contracts is deemed certified.