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  • Janice Eberly Assistant Secretary For Economic Policy U.S. Department Of The Treasury - Statement For The Treasury Borrowing Advisory Committee Of The Securities Industry And Financial Markets Association

    Date 31/10/2011

    The pace of expansion accelerated during the summer as the temporary factors that weighed on growth in the first half of the year largely faded. According to the advance report released last week, the economy grew by 2.5 percent at an annual rate in the third quarter, the ninth straight quarter of growth since the recession ended in mid-2009. Real GDP surpassed the prerecession peak recorded in the fourth quarter of 2007. Despite the pickup in growth, job growth moderated, and the unemployment rate remained unacceptably high at 9.1 percent. Private sector forecasters expect the pace of growth to strengthen gradually going forward, but the unemployment rate is not projected to decline meaningfully over the next year. The Administration recently proposed a number of initiatives in the American Jobs Act that will foster job creation and stronger near-term growth. The longer-term fiscal situation remains a serious concern, however, and in mid September the President proposed a balanced and comprehensive deficit reduction plan that will put the nation’s finances on a fiscally sustainable path.

  • ISDA Statement On CDS Credit Event Process

    Date 31/10/2011

    The International Swaps and Derivatives Association, Inc. (ISDA) today issued the following statement in order to ensure an accurate understanding of how credit events are determined for credit default swaps contracts. Today’s statement is intended to underscore key points articulated in the Greek Sovereign Debt Q&A, updated on October 31, which discussed this issue with regards to the Eurozone proposal for Greek debt.  Some media accounts of the information contained in the Q&A inaccurately described the credit event process.

  • London Metal Exchange: MF Global UK Limited

    Date 31/10/2011

    1. MF Global UK Limited (“MF Global”) has today been declared by LCH.Clearnet Limited (LCH) a defaulter under the Default Rules of LCH.
    2. Such a declaration constitutes an “Event of Default” in relation to MF Global pursuant to Regulation 1.7 of the Default Regulations of the Exchange (the “Default Regulations”).
    3. Accordingly, the Exchange hereby determines, pursuant to Regulation 2.2 of the Default Regulations, MF Global to be a Defaulter.
    4. MF Global has been suspended from LMEselect and the Ring with immediate effect.

  • Prominent Economist And Two Former Sec Commissioners Join Liquidnet’s Board Of Directors - New Appointments Bring Significant Global Regulatory & Economic Expertise As Liquidnet’s Growth Continues

    Date 31/10/2011

    Liquidnet, the global institutional trading network, announced today the appointment of three prominent industry leaders to its Board of Directors.  They are Lawrence S. Bacow, an economist, attorney and former President of Tufts University, Roel Campos, a former Commissioner of the Securities and Exchange Commission (SEC), and Lady Barbara Thomas Judge, an international banker and lawyer who has served in regulatory roles in both the UK and the US, including as a former SEC Commissioner.

  • TMX Enters Support Agreement With Maple

    Date 31/10/2011

    Last night, TMX Group and Maple Group Acquisition Corporation announced that we have executed a support agreement in respect of Maple's offer to acquire TMX Group. A press release with full details is available.