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CBOE Wins In ISE Patent Suit

Date 14/03/2013

The Chicago Board Options Exchange (CBOE) announced today that the federal court in Chicago ended the trial on the International Securities Exchange's (ISE) patent suit. ISE had sued CBOE for alleged infringement of ISE's patent relating to an "automated exchange." By its action, ISE now concedes that CBOE does not infringe ISE's patent, based on several recent decisions in CBOE's favor.
CFTC Sues Michael Alcocer And His Company, Inovatrade, Inc., For Foreign Currency Fraud And Misappropriation - Defendants Allegedly Solicited Over $10.6 Million From More Than 400 Customers Worldwide

Date 14/03/2013

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed a lawsuit in the U.S. District Court for the Southern District of Florida against Michael Alcocer and his company InovaTrade, Inc. (InovaTrade). The CFTC complaint alleges that Alcocer and InovaTrade orchestrated a fraudulent scheme that, between November 2008 and September 2011, induced more than 400 customers to deposit more than $10.6 million with InovaTrade, a purported Retail Foreign Exchange Dealer (RFED), to trade off-exchange foreign currency (forex). The CFTC’s complaint was filed on September 21, 2012, and the CFTC recently served its lawsuit upon defendants in Panama.
ADEX Monthly Statistical Bulletin - February 2013

Date 14/03/2013

Please click here to download ADEX monthly statistical bulletin for February 2013.
Program Trading Averaged 24.8 Percent Of NYSE Volume During Mar. 4-8

Date 14/03/2013

The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released its weekly program-trading data compiled from member firms' executed volume from NYSE's orders database. The report includes trading on the NYSE for Mar. 4-8.
EMCF And EUROCCP Combine Strengths To Create New Competitive Force In Pan-European Cash Equities Clearing - Industry To Benefit From Best Practices, Substantial Cost Savings And Collateral Efficiencies

Date 14/03/2013

The two largest pan-European cash equities clearing houses, EMCF and EuroCCP, today announced plans to combine their strengths and capabilities by forming a new entity that will deliver greater efficiencies and sustainable competition to the pan-European market place. The combined firm will provide best practices in a number of important areas, including risk management, technology, settlement and client service.

Remarks By Richard G. Ketchum, FINRA’s Chairman And Chief Executive Officer - Consumer Federation Of America Consumer Assembly

Date 14/03/2013

I am honored to be here to participate in the conversation on how regulators and consumer advocates can work together to help consumers make smart financial decisions. And though we are looking at consumer protection from different angles—financial services and health and safety—we share a common goal: making sure smart choices are available to consumers.
Testimony Of CFTC's Chairman Gary Gensler Before The U.S. House Committee On Agriculture, Washington, DC

Date 14/03/2013

Good morning Chairman Lucas, Ranking Member Peterson and members of the Committee. I thank you for inviting me to testify on the status of Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) Title VII implementation. I also want to thank the Commodity Futures Trading Commission’s (CFTC) Commissioners and staff for their hard work and dedication.
Statement By The EC, ECB And IMF On Greece

Date 14/03/2013

“Staff teams from the European Commission, the ECB and the IMF have conducted discussions with the Greek authorities during the last two weeks regarding the review of Greece’s economic program. Significant progress has been made but a few issues remain outstanding. As additional technical work will be necessary to settle these issues, the mission will take a short break to allow this work to be completed. The mission plans to return to Athens in early April to continue its work.”
Spanish Market To Be Offered CISI Global Professional Qualifications In Wealth Management And Islamic Finance

Date 14/03/2013

Simply Sharia Human Capital (SSHC) has signed a long-term Training Agreement with the prestigious Spanish business school, Escuela de Finanzas.
From Our Man In Boca, Tom Groenfeldt: How To Launch A New Exchange - FIA Panelists Tell [Almost] All

Date 14/03/2013

If you thought the Emerging Exchanges session at Futures Industry Association (FIA) in Boca Raton was going to be about the new Cambodian rice futures and options, you’d have been disappointed to find that the newest emergent was NASDAQ OMX NLX with Charlotte Crosswell, CEO, operating out of that distant, exotic and occasionally dangerous jungle -- London. It will offer UK and European listed interest derivatives.