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CFTC Announces That Mandatory Clearing Begins Today

Date 11/03/2013

Today, swap dealers, major swap participants and private funds active in the swaps market are required to begin clearing certain index credit default swaps (CDS) and interest rate swaps that they entered into on or after March 11, 2013. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the Commodity Exchange Act (CEA) to require clearing of certain swaps. The Dodd-Frank Act also requires the Commission to determine whether a swap is required to be cleared by either a Commission-initiated review or a submission from a DCO for the review of a swap, or group, category, type, or class of swap. The clearing requirement determination does not apply to those who are eligible to elect an exception from clearing because they are non-financial entities hedging commercial risk.
IOSCO Publishes The Responses To Financial Benchmark Consultation

Date 11/03/2013

The International Organization of Securities Commissions (IOSCO) has published today the comment letters on the Consultation Report on Financial Benchmarks that was issued on 11 January 2013. The report sought comments from the public on policy issues arising from the work of its Board Level Task Force on Financial Market Benchmarks. More than 50 responses were received.
SEC Charges New York-Based Private Equity Fund Advisers With Misleading Investors About Valuation And Performance

Date 11/03/2013

The Securities and Exchange Commission today charged two investment advisers at Oppenheimer & Co. with misleading investors about the valuation policies and performance of a private equity fund they manage.
TOM Insight February 2013

Date 11/03/2013

Click here to download TOM’s February ‘13 Insight, a document describing matching statistics on TOM MTF and savings made for the retail client by TOM Smart Execution.
SEC Charges Illinois For Misleading Pension Disclosures

Date 11/03/2013

The Securities and Exchange Commission today charged the State of Illinois with securities fraud for misleading municipal bond investors about the state’s approach to funding its pension obligations.

UK's Financial Services Authority: Individual Sentenced To Four Years For Insider Dealing

Date 11/03/2013

In a prosecution brought by the Financial Services Authority (FSA) and heard at Southwark Crown Court Richard Joseph, age 43, has been found guilty of 6 counts of conspiracy to deal as an insider. He has been sentenced to four years on each count, which will be served concurrently.
NASDAQ OMX Announces Grant Of Early Termination Of HSR Waiting Period For Acquisition Of Thomson Reuters Investor Relations, Public Relations And Multimedia Solutions Businesses

Date 11/03/2013

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that the parties have been granted early termination of the waiting period under the Hart-Scott-Rodino Improvements (HSR) Act of 1976 with respect to NASDAQ OMX's proposed acquisition of Thomson Reuters Investor Relations, Public Relations and Multimedia Solutions businesses.
DTCC Introduces Settlement Matching To Reduce Risk And Boost Intraday Settlement Finality

Date 11/03/2013

The Depository Trust & Clearing Corporation (DTCC) today released details on how its depository subsidiary, The Depository Trust Company (DTC), will introduce Settlement Matching, bringing significant enhancements to the settlement process and further reducing settlement risk.
IntercontinentalExchange Announces May Launch Of Credit Index Futures Contracts

Date 11/03/2013

IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, announced today it will introduce four credit index futures contracts starting in May 2013. The contracts will be based on the Markit CDX and Markit iTraxx indices, and are subject to review by the Commodity Futures Trading Commission.
Lahore Stock Exchange Becomes The First Exchange In Pakistan To Lauch SMS Trade Alerts To Facilitate The Investors

Date 11/03/2013

The Lahore Stock Exchange achieved another unique milestone in the capital market history of the country by becoming the first exchange in Pakistan to launch the SMS trade alerts and email notifications directly to the investors to inform them about their trade executions. This step has been taken to enhance the transparency in the order executions by the exchange brokers whereby the Exchange would inform the investors directly about their symbol wise gross trading position so that the instances of fictitious trading in the investors account could be checked.