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Date 25/07/2012
Viviane Reding Vice-President Of The European Commission, EU Justice Commissioner Amended Proposal For A Directive On Criminal Sanctions For Insider Dealing And Market Manipulation - Joint Press Conference With Commissioner Barnier - Brussels 25 July 2012
Background LIBOR scandal: why are we acting?
These days we are again dealing with the effects of potentially criminal misconduct in the financial markets. This time it is about interest rate-rigging by banks. The recently uncovered practice of manipulation of the LIBOR rates is another example of irresponsible banking practices undermining investor confidence and market integrity.
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Date 25/07/2012
EEX: Trading Technologies Broadens Access To European Energy Derivatives
The European Energy Exchange (EEX) and Trading Technologies International, Inc. (TT) have announced that EEX products are now tradable via EEX memberships on TT’s platform, further increasing the distribution network of the EEX order book, whilst offering EEX customers advanced order execution technology. All EEX derivatives products are now available through TT’s Eurex gateway and tradable via TT’s X_TRADER® order-entry platform and related electronic trading products.
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Date 25/07/2012
Testimony Before The U.S. House Committee On Agriculture Of CFTC Chairman Gary Gensler
Good morning Chairman Lucas, Ranking Member Peterson and members of the Committee. I thank you for inviting me to today’s hearing on oversight of the swaps and futures markets. I will review the Commodity Futures Trading Commission’s (CFTC) implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), as well as the recent events related to the London Interbank Offered Rate (LIBOR) and Peregrine Financial Group.
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Date 25/07/2012
CME Group's Duffy To Appear Before House Committee On Agriculture
CME Group Executive Chairman and President Terry Duffy will appear before the House Committee on Agriculture today, Wednesday, July 25, to discuss "Oversight of the Swaps and Futures Markets: Recent Events and Impending Regulatory Reforms."
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Date 25/07/2012
Press Conference By Tadahiro Matsushita, Japan's Minister For Financial Services: Manipulation Of LIBOR And Calculation Of TIBOR
[Questions & Answers]
- Q.
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The scandal over the illegal manipulation of LIBOR (London Interbank Offered Rate) is widening. Could you comment on it from the perspective of the credibility of the financial market?
Also, what is your view on the problems pointed out in relation to the calculation method of LIBOR?
- A.
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LIBOR is widely used as an important benchmark interest rate in the financial market, as you know. Therefore, I recognize that the illegal manipulation of LIBOR is a serious problem that could undermine the fairness and transparency of the financial market and obstruct the sound development of the market. I am keeping a close watch on it as a very serious problem.
The Financial Services Agency (FSA) will continue to check individual financial institutions' internal control systems regarding the submission of interest rates through inspection and supervision, and if a problem is recognized, we will take appropriate actions in accordance with laws and regulations.
The FSA refrains from commenting on issues related to the management of LIBOR, such as the calculation method of LIBOR.
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Date 25/07/2012
SEFs Evaluated As Dodd-Frank Deadlines Loom - 52 Proposed Swap Execution Facilities Analysed; 12 Strongest Players Interviewed - Consultancy Advises On Product Coverage And Trading Models
A new report from GreySpark Partners, the capital markets consultancy, first in a series of three, has revealed how the swap execution facility (SEF) landscape is set to look after the Dodd-Frank act. The functions of over 50 potential SEFs were analysed, and the most likely top 12 were identified based on product coverage, volumes, current market share and positioning.
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Date 25/07/2012
NASDAQ OMX Reports Second Quarter 2012 Results
- Q212 non-GAAP diluted EPS of $0.64, up $0.02 compared to prior year quarter; Q212 GAAP diluted EPS of $0.53
- Q212 non-GAAP net exchange revenues1 were $413 million, down 0.5% year-over-year, but up 3% year-over-year on an organic basis (constant currency and excluding acquisitions); Q212 net exchange revenues were $424 million
- Performance driven by growth in Global Market Data Products (revenues up 8% year-over-year to $90 million) and Access Services (revenues up 11% year-over-year to $61 million)
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Date 25/07/2012
Emissions Trading: European Commission Prepares For Change Of The Timing For Auctions Of Emission Allowances
The European Commission initiated in mid-April the review of the auction time profile of the EU Emissions Trading System (ETS) and proposes today a Decision to clarify the provisions of the EU ETS Directive on the timing of auctions of emission allowances.
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Date 25/07/2012
NASDAQ OMX Announces Quarterly Dividend Of $0.13 Per Share
The Finance Committee of the Board of Directors of The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) has declared a regular quarterly dividend of $0.13 per share on the company's outstanding common stock. The dividend is payable on September 28, 2012 to shareowners of record at the close of business on September 14, 2012. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Finance Committee or the Board of Directors.
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Date 25/07/2012
Risk Management Association And Deloitte: Banks Make Progress Managing Wrong Way Risk - But Nearly A Third Are Not Monitoring It
A survey conducted by the Risk Management Association (RMA) in conjunction with Deloitte, the business advisory firm, highlights many banks are making progress managing wrong way risk (WWR) – but nearly a third make no effort to monitor it.
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