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CESR Consults On Possible Exchange Framework For OTC Derivative Instruments

Date 22/07/2009

CESR publishes today a consultation paper on the classification and identification of OTC (over-the-counter) derivative instruments for the purpose of including those instruments in the exchange of transaction reports amongst CESR Members, currently done through CESR's Transaction Exchange Mechanism (TREM). After one and a half year of TREM's running, CESR decided to launch a project to amend TREM to facilitate the exchange of transaction reports on OTC derivative instruments. This cons
BGC Partners Expands Commodities - Adds Precious Metals Desk

Date 22/07/2009

BGC Partners, Inc. (Nasdaq: BGCP), a leading inter-dealer broker of financial instruments, today announced the addition of a Precious Metals desk to work alongside its existing Base Metals desk of eleven years standing.
Current Tripartite System Of Financial Supervision In UK Should Be Overhauled, Say 93% Of Industry Players

Date 22/07/2009

Ninety-three per cent of industry players believe the current tripartite system of financial supervision in the UK should be overhauled, according to a Securities & Investment Institute (SII) survey.
Dow Jones STOXX 600 Factoids - July 21, 2009

Date 22/07/2009

As of July 21, 2009 Dow Jones STOXX 600, up 1.80 points, or 0.84%, to 215.02. Up for the seventh straight trading day. Up 17.77 points, or 9.01%, over the last seven trading days. A new 2009 closing high. Highest closing value since November 10, 2008. The index is off -46.97% from its record closing high of 405.50, hit on March 6, 2000. Month-to-date, the Dow Jones STOXX 600 is up 4.46%. Year-to-date, the Dow Jones STOXX 600 is up 9.20%.
CalPERS Reports Preliminary 2008-09 Fiscal Year Performance

Date 21/07/2009

The California Public Employees’ Retirement System (CalPERS) today released its preliminary 2008-09 investment performance, noting a decline in the market value of its assets of 23.4 percent for the one-year period ending June 30, 2009. It was the most severe single year decline, but even with this decline, its long term 20-year investment return remained positive at 7.75 percent.

CFTC To Hold Three Open Hearings To Discuss Energy Position Limits And Hedge Exemptions - First Hearing Scheduled For July 28, 2009

Date 21/07/2009

The Commodity Futures Trading Commission (CFTC) today announced that it will hold three hearings to address the current application of position limits and exemptions from position limits in energy markets. The hearings are scheduled to be held between 9:00 a.m. EDT and 1:00 p.m. EDT on Tuesday, July 28, Wednesday, July 29, and Wednesday, August 5, 2009. The first hearing will consist of testimony by Congressman Bart Stupak; CFTC staff presentations and two witness panels:
CFTC: Subcommittee On Convergence To Convene A Follow-Up Session

Date 21/07/2009

On Thursday, July 23, 2009, from 3 p.m. EDT to 5 p.m. EDT, members of the Subcommittee on Convergence in Agricultural Commodity Markets will conduct their second public conference call.
U.S. Federal Reserve Chairman Ben S. Bernanke Semiannual Monetary Policy Report To The Congress Before The Committee On Financial Services, U.S. House Of Representatives, Washington, D.C., July 21, 2009

Date 21/07/2009

Chairman Frank, Ranking Member Bachus, and other members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report to the Congress (899 KB PDF).
Fact Sheet: U.S. Administration’s Regulatory Reform Agenda Moves Forward - Credit Rating Agency Reform Legislation Sent To Capitol Hill

Date 21/07/2009

Continuing its push to establish new rules of the road and make the financial system more fair across the board, the Administration today delivered proposed legislation to Capitol Hill to increase transparency, tighten oversight, and reduce reliance on credit rating agencies. The legislation would also work to reduce conflicts of interest at credit rating agencies while strengthening the Securitie
SEC Charges Morgan Keegan For Fraudulent Marketing And Sales Of Auction Rate Securities

Date 21/07/2009

The Securities and Exchange Commission today charged Tennessee-based broker-dealer Morgan Keegan & Company, Inc. for misleading thousands of investors about the liquidity risks associated with auction rate securities (ARS), and the agency is seeking a court order requiring Morgan Keegan to repurchase the illiquid ARS from its customers.