News Centre

OneChicago Announces Trading Volumes For April 2012 -The OCX.NoDivRisk™ Product Continues Strong First-Quarter Trend, Posting 38% Of Aprils’ Month-End Open Interest

Date 01/05/2012

OneChicago, LLC (OCX), an equity finance exchange, today announced that a total of 228,685 security futures contracts were traded in the month of April 2012.

NSX Introduces New Pricing Schedule And Market Data Revenue Sharing

Date 01/05/2012

NSX Introduces New Pricing Schedule and Market Data Revenue Sharing

ISDA Paper Examines Three-Year History Of The ISDA Credit Derivatives Determinations Committees

Date 01/05/2012

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the publication of a paper that reviews the formation, structure and workings of the ISDA Credit Derivatives Determinations Committees. 

ISE Reports Business Activity For April 2012

Date 01/05/2012

• ISE was the second largest equity options exchange in April with market share of 18.3%, excluding dividend trades.
• Dividend trades made up 4.5% of industry volume in April 2012.

Proposed Interpretative Statement Regarding The Confidentiality And Indemnification Provision In The Dodd-Frank Wall Street Reform And Consumer Protection, CFTC Chairman Gary Gensler

Date 01/05/2012

Commodity Futures Trading Commission Chairman Gary Gensler today issued the following statement:

“I support the proposed interpretative statement regarding the application of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) indemnification provisions for swap data repositories (SDRs). The Commission is working closely with international regulators on a collaborative approach regarding how data may be accessed by regulators. The proposed guidance, which benefited from international input, states the Commission’s view that foreign regulators will not be subject to the indemnification provisions in the Dodd-Frank Act if the SDR is registered, recognized or otherwise authorized by foreign law and the data to be accessed is reported to the SDR pursuant to foreign law. The public will now have an opportunity to comment on the proposed guidance, and I look forward to the public’s input.”

A.M. Best Granted Approval To Establish In The Dubai International Financial Centre (DIFC)

Date 01/05/2012

A.M. Best is pleased to announce that it has obtained the necessary approvals to establish within the Dubai International Financial Centre (DIFC) in Dubai, UAE. The new office will operate as A.M. Best MENA, South & Central Asia, servicing clients throughout the region and developing new relationships to grow its insurance ratings franchise. Rating analytics will continue to be performed by teams based in London and Hong Kong.

CFTC Charges Sidney J. Charles, Jr. And His Maryland-Based Company, The Borrowing Station, LLC, In Forex Ponzi Scheme - Federal Court In Maryland Enters Order Freezing Defendants’ Assets And Protecting Books And Records

Date 01/05/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a federal court action charging Sidney J. Charles, Jr., formerly of Bowie, Md., and his company, The Borrowing Station, LLC (Borrowing Station), of Bowie, Md., with fraud, misappropriation, and registration violations in connection with an off-exchange leveraged foreign currency (forex) Ponzi scheme.

OCC Announces Cleared Contract Volume Declined 5% In April, Securities Lending Volume Rose 34%

Date 01/05/2012

OCC announced that cleared contract volume reached 321,989,037 contracts in April, a 5 percent decrease from the April 2011 volume of 338,562,433 contracts.

CFTC Votes To Clarify Indemnification and Confidentiality Provisions In The Dodd-Frank Act - Commission Issues Proposed Interpretative Statement; Seeks Public Comment

Date 01/05/2012

The Commodity Futures Trading Commission (CFTC) today voted to issue a Proposed Interpretative Statement regarding the confidentiality and indemnification provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The proposal generally exempts foreign regulators from the indemnification and confidentiality provision in the Dodd-Frank Act, and ensures that foreign regulators have access to data in Swap Data Repositories (SDR). This exemption only applies to data that is required to be reported and if the SDR is recognized by the country’s law and regulation. The proposal passed the Commission by a vote of 5-0. The proposal’s comment period will be open for 30 days from the date of publication in the Federal Register.

FINRA Sanctions Four Firms $9.1 Million For Sales Of Leveraged And Inverse Exchange-Traded Funds

Date 01/05/2012

The Financial Industry Regulatory Authority (FINRA) today announced that it has sanctioned Citigroup Global Markets, Inc; Morgan Stanley & Co., LLC; UBS Financial Services; and Wells Fargo Advisors, LLC a total of more than $9.1 million for selling leveraged and inverse exchange-traded funds (ETFs) without reasonable supervision and for not having a reasonable basis for recommending the securities. The firms were fined more than $7.3 million and are required to pay a total of $1.8 million in restitution to certain customers who made unsuitable leveraged and inverse ETF purchases.