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  • DTCC And SWIFT Named To Provide CTFC Interim Compliant Identifier

    Date 24/07/2012

    The Depository Trust & Clearing Corporation (DTCC) and SWIFT announced today that they have been named by the Commodity Futures Trading Commission (CFTC) to provide the CFTC Interim Compliant Identifier (CICI) for legal entities involved in OTC derivatives trading.

  • CFTC Announces Designation Of DTCC-SWIFT As The Provider Of CFTC Interim Compliant Identifiers - Interim Identifiers Will Transition Into Global Legal Entity Identifier (LEI)

    Date 24/07/2012

    The Commodity Futures Trading Commission (CFTC) today issued an Order designating DTCC-SWIFT as the provider of the legal entity identifiers (LEI), which will be used by registered entities and swap counterparties in complying with the CFTC’s swap data reporting regulations.  LEIs, to be known as CFTC Interim Compliant Identifiers or CICIs until establishment of a global LEI system, are essential tools for aggregation of derivatives data.  They will be crucial to the ability of CFTC and other financial regulators to use swap data to fulfill the systemic risk monitoring and mitigation, market transparency, and market abuse prevention purposes of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

  • IntercontinentalExchange Introduces Clearing For Emerging Markets CDS Index

    Date 24/07/2012

    IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, has launched clearing for emerging markets credit default swap (CDS) indexes. ICE Clear Credit, ICE's North American CDS clearing house, is the first to offer real-time, trade-date clearing of the Emerging Markets CDS index (CDX.EM) for buyside and dealer-to-dealer trades. The launch of CDX.EM series 16 and 17 augments the list of over 40 cleared North American indexes available for client clearing at ICE.

  • ESMA Publishes Updated List Of Measures Adopted By Competent Authorities On Short Selling

    Date 24/07/2012

    ESMA today published an update regarding the measures taken by EU competent authoritites regarding short selling.

  • Press Conference By Tadahiro Matsushita, Japan's Minister For Financial Services - Insider Trading, LIBOR Manipulation, Management Of TIBOR HSBC And Money Laundering

    Date 24/07/2012

    [Questions & Answers]

    Q.

    I have two questions concerning insider trading cases related to public offerings of new shares.

    On July 15, a former executive officer of SMBC Nikko Securities Inc. and other people were re-arrested. The former executive officer is suspected of having leaked information concerning two other stocks, and this has reinforced the suspicion that he was leaking information as a routine practice. Could you comment on that? Also, regarding SMBC Nikko Securities' ongoing internal investigation, what results do you expect?

    I have another question concerning insider trading related to public offerings of new shares. Last Friday, the Tokyo Stock Exchange (TSE) announced a plan to strengthen surveillance over insider trading related to public offerings of new shares. The plan apparently centers on having a dedicated division check whether or not there are illegal transactions. Could you offer your assessment of the plan?

    A.

    As for your first question, a former executive officer of SMBC Nikko Securities was re-arrested. Frankly speaking, that is outrageous. As I will explain later, when I visited the TSE, I held various discussions with TSE executives. On that occasion, I stressed my points to the TSE executives.

    As I have repeatedly said, securities companies must strictly manage corporate information related to tender offers and other relevant corporate information from the perspective of preventing illegal trading such as insider trading.

    They are required to develop effective internal control systems and conduct business with a high level of compliance awareness and professional ethics. As for administrative actions that may be taken in specific cases, I would like to refrain from making comments for the moment, as our investigation is still ongoing. However, I am keeping a close watch on these cases with very strong interest. If a problem is recognized with regard to a securities company's business operation, we will take strict actions in accordance with laws and regulations.

    I visited the TSE on July 12. The visit was very timely, as it followed the recent succession of various insider trading cases involving securities companies and others.

    In relation to your question, from the perspective of ensuring the fairness and transparency of the financial and capital markets, it is very important to prevent insider trading. I think it is important that the financial authorities and financial product exchanges work together in this task, so I visited the TSE on July 12.

    On that occasion, I was briefed on the TSE's plan for preventing insider trading, which was announced on July 13. Before receiving the briefing, I had conveyed to the TSE my grave concern and disappointment regarding the succession of insider trading cases and asked the exchange to formulate its approach to this problem and explain it to me. When I received the briefing, I asked the TSE to tackle the problem with a sense of urgency.

    The FSA will also continue efforts to prevent insider trading and ensure and enhance the fairness and transparency of the market while taking advantage of the results of the TSE's activities.

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