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  • Bursa Malaysia Establishes New Shari’ah Committee

    Date 01/10/2012

    Bursa Malaysia Berhad would like to announce the establishment of its new  Shari’ah Committee in its efforts to enhance and strengthen the business  governance for its Islamic capital market offerings. The oversight function of  the Exchange’s Islamic business was previously provided by an individual  Shari’ah Advisor. As part of its strategic direction to propel the Exchange to  be a leading marketplace in Asia, Bursa Malaysia is focused on developing its  potential as an international Islamic fund-raising centre.

  • ESMA Launches A Consultation On Amendments To ESMA's Recommendations Regarding Mineral Companies

    Date 01/10/2012

    In March 2011 ESMA updated and revised  paragraphs 131-133 of the CESR Recommendations on the con-sistent  implementation of Commission Regulation (EC) No 809/2004 implementing  the Prospectus Di-rective (hereinafter the “Recommendations”) which  address the information that should be disclosed by mineral companies in prospectuses. ESMA's update of these provisions represented a  significant reform for this area, harmonising mineral reserves and  resources disclosure in prospectuses drawn-up in accord-ance with the  Prospectus Directive for the first time.

  • BME - The Spanish Stock Exchange - Traded €48.74 Billion In September, Up 45% From The Previous Month

    Date 01/10/2012

  • The equity trading on the Spanish Stock Exchange in the first nine  months totaled €529.09 billion, down 26.4% from the same period in 2011
  • The number of trades in the first nine months came in at 33.5  million, down 6% from the same period in 2011
  • As for the ETF segment, the trading volume in September was €274  million, up 32% year on year
  • The trading volume on BME’s Derivatives Market in the first nine  months totaled 52.32 million contracts. Record high in Options on Stocks monthly  trading
  • New issues on the Corporate Debt market in the  first nine months totaled €282.41 billion, exceeding the figure for the entire  year 2011
  • UK's Financial Services Authority Charges Four With Insider Dealing

    Date 01/10/2012

    Four men have been charged by the Financial Services  Authority (FSA) with conspiracy to insider deal between 1st November 2006 and  23rd March 2010.

  • Collateral Scarcity – A Gone Or A Going Concern? Speech By Benoît Cœuré, Member Of The Executive Board Of The ECB, ECB-DNB Joint Central Bank Seminar On Collateral And Liquidity

    Date 01/10/2012

    It is a great pleasure for me to speak here today at this conference, kindly hosted by De Nederlandsche Bank.

    1. The use of collateral is as old as economic transactions, and is mentioned in the Bible:

    2. “If thou at all take thy neighbour's raiment to pledge, thou shalt deliver it unto him by that the sun goeth down: For that [is] his covering only, it [is] his raiment for his skin: wherein shall he sleep?” 

    3. The importance of collateral in the economy may have been neglected in earlier academic work, but has been well recognised lately. In his seminal work on the topic John Geanakoplos says that: