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  • Chorus Inclusion In NZX Indices

    Date 07/11/2011

    Telecom Corporation of New Zealand Limited has announced that it will demerge into two separate listed companies, Telecom Corporation of New Zealand Limited (Telecom) and Chorus Limited (Chorus). Telecom has announced that Telecom shareholders will receive 1 Chorus share for every 5 Telecom shares held on the record date of the demerger. 

  • Appointment Of Chairman And Vice-Chairman Of The Financial Stability Board

    Date 05/11/2011

    The Financial Stability Board (FSB) has appointed Mark Carney as its new Chairman, succeeding Mario Draghi, and Philipp Hildebrand as Vice-Chairman. G20 Leaders at theCannes Summit today welcomed these appointments.

  • Financial Stability Board Announces Policy Measures To Address Systemically Important Financial Institutions (SIFIs) And Names Initial Group Of Global SIFIs

    Date 05/11/2011

    At the Cannes Summit yesterday, the G20 Leaders endorsed the implementation of an integrated set of  policy measures to address the risks to the global financial system from systemically important financial institutions (SIFIs), and the timeline for implementation of these measures. Specific measures focus on global SIFIs (G-SIFIs) to reflect the greater risks that these institutions pose to the global financial system.

  • CME Group Clarifies Maintenance Margin Ratios - Exchange To Reduce Initial Margin Ratio To 1.00

    Date 05/11/2011

    CME Group today is clarifying its notice to clearing firms regarding margins. In light of the issues customers transferring out of MF Global are facing, while still maintaining appropriate risk management protections for the market, CME Clearing is setting the "initial" margin upcharge to zero. This upcharge is normally applied to customer accounts when they are receiving a margin call.

  • Financial Stability Board: Policy Measures To Address Systemically Important Financial Institutions

    Date 05/11/2011

    • At recent Summits, G20 Leaders asked the FSB to develop a policy framework to address the systemic and moral hazard risks associated with systemically important financial institutions (SIFIs).
    • In Seoul last year, G20 Leaders endorsed this framework and the timelines and processes for its implementation. The development of the critical policy measures that form the parts of this framework has now been completed. Implementation of these measures will begin from 2012. Full implementation is targeted for 2019.
    • SIFIs are financial institutions whose distress or disorderly failure, because of their size, complexity and systemic   interconnectedness, would cause significant disruption to the wider financial system and economic activity. To avoid this outcome, authorities have all too frequently had no choice but to forestall the failure of such institutions through public solvency support. As underscored by this crisis, this has deleterious consequences for private incentives and for public finances.