News Centre

CFTC Charges Florida Residents Philip Leon, Paul Rangel, And John Wilkins And Their Company, Altamont Global Partners LLC, With Fraud And Misappropriation - Defendants Allegedly Solicited Approximately $13 Million From Approximately 198 Participants In Two Investment Pools - Federal Court Enters Emergency Order Freezing Defendants’ Assets And Protecting Books And Records

Date 25/07/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced that on July 16, 2012, Judge Gregory Presnell, of the U.S. District Court for the Middle District of Florida, entered an emergency order freezing the assets of defendants Philip Leon of Altamonte Springs, Fla., Paul Rangel of Apopka, Fla., John Wilkins of Chuluota, Fla., and their company, Altamont Global Partners LLC (AGP), of Longwood, Fla.  The order also prohibits the defendants from destroying or altering books and records.  The judge set a hearing date for July 30, 2012.

Testimony Of U.S.A. Treasury Secretary Tim Geithner Before The House Committee On Financial Services On The Financial Stability Oversight Council Annual Report To Congress

Date 25/07/2012

Chairman Bachus, Ranking Member Frank, and members of the Committee, thank you for the opportunity to testify today regarding the Financial Stability Oversight Council’s (the “Council”) annual report.

Portware Named Best Trading Technology Vendor By FX Week

Date 25/07/2012

Portware, the leading provider of global, multi-asset trading solutions, today announced that FX Week has recognized Portware with the prestigious 2012 eFX Award for Best Trading Technology Vendor.

Carnegie Mellon University SEI And EDM Council Complete Best Practices For Data Management - Data Management Maturity Model Enables Organizations To Improve Risk Management And Enhance Operational Efficiency

Date 25/07/2012

The Carnegie Mellon University Software Engineering Institute (SEI) and the Enterprise Data Management (EDM) Council yesterday announced that the core content of the Data Management Maturity model is complete.

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

Date 25/07/2012

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.

EEX: Trading Technologies Broadens Access To European Energy Derivatives

Date 25/07/2012

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.

Testimony Before The U.S. House Committee On Agriculture Of CFTC Chairman Gary Gensler

Date 25/07/2012

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.

CME Group's Duffy To Appear Before House Committee On Agriculture

Date 25/07/2012

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."

Press Conference By Tadahiro Matsushita, Japan's Minister For Financial Services: Manipulation Of LIBOR And Calculation Of TIBOR

Date 25/07/2012

[Questions & Answers]

Q.

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.

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.

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

Date 25/07/2012

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.