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  • Global Financial Centres Index 11 Published Today - Chinese And Eurozone Centres Languish Whilst Offshore Centres Regain

    Date 20/03/2012

    Today the Z/Yen Group publishes the eleventh Global Financial Centres Index (GFCI 11) covering 77 financial centres. The big changes from GFCI 10 in September 2011 are:

    • The past trend of large rises in the ratings of Asia/Pacific centres has paused. Hong Kong, Singapore, Tokyo, Shanghai, Beijing, Taipei and Shenzhen all decline in GFCI 11. Centres on the mainland of China have seen significant declines with Shanghai down 37 points and Beijing down 11.
    • The capital cities of the weaker Euro economies continue to suffer. Dublin, Milan, Madrid, Lisbon and Athens were all down in GFCI 10 and this decline has continued in GFCI 11with these five centres all down in the rankings again.
    • In contrast to the centres in the weaker Eurozone economies, Frankfurt and Paris have both risen in the ranks. This may be as a result of the political lead that Germany and France have been showing in attempting to come to terms with the Eurozone crisis.
    • Offshore centres have suffered significant reputational damage recently. The man offshore centres are recovering lost ground. Jersey, Guernsey, the Cayman Islands, the British Virgin Islands, the Isle of Man, Gibraltar and Mauritius have all made modest gains in the ratings.

  • U.S. Treasury Department: Written Testimony Of Secretary Tim Geithner Before The House Committee On Financial Services On The State Of The International Financial System

    Date 20/03/2012

    Chairman Bachus, Ranking Member Frank, and members of the Committee, thank you for the opportunity to testify today on developments in Europe. Europe is a key strategic and economic partner of the United States, and we have an enormous stake in the success of European efforts to restore financial stability and secure growth. The U.S. recovery is getting stronger, but the strength of our recovery will depend in part on events beyond our shores, as we saw last year when U.S. growth was buffeted by headwinds from Europe.

  • Statement Of Support By CFTC Chairman Gary Gensler

    Date 20/03/2012

    I support today’s final rulemaking on clearing which will promote market participants’ access to central clearing, increase market transparency, foster competition, support market efficiency, and bolster risk management.  These rules include provisions on client clearing documentation, so-called ‘straight-through’ processing, bunched orders, and clearing member risk management.

  • EEX Offers Eurex Participants Further Trading Possibilities In The Commodity Segment

    Date 20/03/2012

    The European Energy Exchange (EEX) and Eurex will extend their existing product cooperation to all commodities offered for trading on the energy exchange.

  • Opening Statement On Commission Meeting For Consideration Of Rules Implementing The Dodd-Frank Act By CFTC Chairman Gary Gensler

    Date 20/03/2012

    Good morning.  This meeting will come to order.  This is a public meeting of the Commodity Futures Trading Commission (CFTC) to consider final rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).  I’d like to welcome members of the public, market participants and members of the media, as well as those listening on the phone or watching the webcast.