News Centre

BAE Systems Detica Wins Fraud And Financial Crime Software Award 2013 From Operational Risk & Regulation Magazine

Date 16/04/2013

BAE Systems Detica today announced that its Detica NetReveal^® solution has been named winner of the Fraud and Financial Crime Software Award 2013 by Operational Risk & Regulation magazine. Winners were selected by OpRisk’s editorial staff on the basis of discussions with industry participants.

FINRA Fines Merrill Lynch $1 Million And Orders Restitution Of More Than $320,000 For Failing To Provide Customers Best Execution In Non-Convertible Preferred Securities Transactions

Date 16/04/2013

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $1.05 million for failing to provide best execution in certain customer transactions involving non-convertible preferred securities executed on one of its proprietary order management systems (ML BondMarket), and for failing to have an adequate supervisory system and written supervisory procedures in place. Merrill Lynch was also ordered to pay more than $323,000 in restitution, plus interest, to customers who did not receive best execution for their trades in non-convertible preferred securities. Additionally, FINRA has required Merrill Lynch to revise its written supervisory procedures regarding ML BondMarket best execution obligations within 30 business days.

Athens Stock Exchange: Continuation Of Suspension Of Trading Of The Shares Of The Companies "Bank Of Cyprus Public Company Ltd" And "Cyprus Popular Bank Public Co Ltd"

Date 16/04/2013

Following the notification of the Hellenic Capital Market Commission by the Cyprus Capital Market Commission, following the relevant request of the Hellenic Capital Market Commission, the Athens Exchange decided the continuation of the suspension of trading of the shares of the companies "BANK OF CYPRUS PUBLIC COMPANY LTD" and "CYPRUS POPULAR BANK PUBLIC CO LTD" on ATHEX, until May 31, 2013 (included), according to article 46 par. 3 of L. 3606/2007.

IOSCO Proposes Principles for Financial Benchmarks

Date 16/04/2013

The International Organization of Securities Commissions (IOSCO) Task Force on Financial Market Benchmarks (the Task Force), which the Financial Conduct Authority (FCA) chief executive Martin Wheatley co-chairs, has published its proposed Principles for Financial Benchmarks (the Principles) for consultation.

Thai Bourse Recommends Investors Closely Monitor Commodity Prices Due To Global Price Fluctuations

Date 16/04/2013

The Thailand Futures Exchange PCL (TFEX), under The Stock Exchange of Thailand group (SET), recommends that investors closely monitor global commodity prices, ensure sufficient margins, and adjust their investment portfolios, especially those investing in gold, silver, or oil futures due to global price fluctuations. TFEX will facilitate the portfolio adjustment by temporary allowing the minimum trading of 1(one) contract for block trade of gold futures during 17-19 April.

ISDA-BBA Preliminary Response To UK's HMT Re. Indirect Clearing

Date 16/04/2013

We welcome the HMT Informal consultation on indirect clearing arrangements of 28 March 2013 and the intent to provide, so far as is possible, a protective framework for EMIR compliant indirect clearing constructs in the UK (noting that these will only be helpful inrespect of the UK insolvency regime).

Direct Edge Trading Notice #13-15: Direct Edge To Observe A Moment Of Silence On Tuesday, April 16, 2013

Date 16/04/2013

Direct Edge^® will observe a moment of silence at 9:20 a.m. ET, today, Tuesday, April 16, 2013, in honor of the victims of explosions Monday at the Boston Marathon.  While trading will not be affected, we encourage market participants to join us in a silent remembrance to recognize the tragedy in Boston, MA.  

Statement By European Commission President Jose Manuel Barroso And Commissioner Michel Barnier Following The European Parliament’s Approval Of New European Rules To Impose Stronger Prudential Requirements On Banks

Date 16/04/2013

President J.M. Barroso:

I welcome the vote in the European Parliament today on the capital requirements directive, CRD4. This is the foundation for the single rulebook for banks and will ensure that banks across the EU build up the necessary capital to absorb future shocks themselves, without asking the taxpayer for help. The rules will put an end to the culture of excessive bonuses, which encouraged risk-taking for short-term gains. With these rules we will ensure a dynamic and responsible financial sector. This is a question of fairness. If taxpayers are being asked to pick up the bill after the financial crisis, banks must also make a contribution.

European Parliament Plenary Vote Backs Irish Presidency Agreement To Strengthen Rules On Banks

Date 16/04/2013

The European Parliament today (Wednesday) voted in favour of the agreement reached with the Irish Presidency on capital requirements for banks (CRDIV).

IOSCO Consults On Principles For Financial Benchmarks

Date 16/04/2013

The International Organization of Securities Commissions (IOSCO) published today a consultation paper on Principles for Financial Benchmarks, which seeks public comments on a set of high-level principles for benchmarks used in global financial markets.