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SWX Group, SIS Group And Telekurs Group Intend To Merge

Date 15/05/2007

The boards of directors of the SWX Group, SIS Group and Telekurs Group have signed a letter of intent to merge the three organisations. Within the framework of the contemplated merger, the business activities of all three companies are to be combined under one roof. Subject to approval by the owners and responsible authorities, the transaction is expected to take effect in early 2008.
UK’s Financial Services Authority Fines Charterhouse £122,500 For Unauthorised Portfolio Management

Date 15/05/2007

The Financial Services Authority has fined Charterhouse Consulting Wealth Management Limited ("Charterhouse") £122,500 for carrying out discretionary portfolio management without permission and for various conduct of business failings.
First ETF License To Use FTSE All-Share Index Issued To Lyxor AM

Date 15/05/2007

FTSE Group (“FTSE”), the global index provider, announced today that it has licensed Lyxor Asset Management to use the FTSE 100, FTSE 250 and FTSE All-Share indices to create three new Exchange Traded Funds (ETFs), which listed on the London Stock Exchange this morning. This is the first time FTSE has licensed an issuer to use the FTSE All-Share index as a basis of an ETF.
CESR Publishes A Progress Report On Its Dialogue With Cras To Review How The IOSCO Code Of Conduct Is Being Implemented

Date 15/05/2007

CESR published on December 2005 a voluntary framework to oversee compliance with the IOSCO Code (CESR 05-751). In summary, this framework includes three elements: (i) an annual letter from each Credit Rating Agency (CRA) to be sent to CESR, and made public, outlining how it had complied with the IOSCO Code and indicating any deviations from the Code; (ii) an annual meeting between CESR and the CRAs to discuss any issues related to implementation of the IOSCO Code; and (iii) CRAs would pr
London Stock Exchange Welcomes New ETF Issuer

Date 15/05/2007

Lyxor Asset Management have become the first new Exchange Traded Fund (ETF) provider to join the London Stock Exchange’s growing ETF market since a change to stamp duty rules made it easier for overseas firms to issue new stock market traded index trackers in the UK.

Record Quarter For Euronext’s Revenues: €310.1m, Up 15.6% Year On Year

Date 15/05/2007

The first quarter of 2007 has been the best one ever with strong level of activity both on cash and on derivatives markets. These positive market conditions have allowed all business lines to register an increase in their revenues. As a result, revenues for the first quarter of 2007 reached a record level of €310.1m, a progress of 15.6% compared to the €268.1m achieved in Q1, 2006.
Axiss Australia a2a Newsletter Issue 158, 15 May 2007

Date 15/05/2007

a2a e-newsletter is a the fortnightly bulletin compiled by Axiss Australia. a2a provides a summary of key events in Australia's financial services industry and their implications for Australia's position as a global financial services centre.
NZAX Market – Strength In Capital Raised, Liquidity And Value To Shareholders

Date 15/05/2007

The New Zealand Alternative Market (NZAX) is proving to be a strong platform for growth companies to raise capital, trade and grow, thereby delivering value to shareholders.
Boulder Steel Of Australia Lists Shares On DIFX To Reach Regional Investors

Date 15/05/2007

Boulder Steel, an Australian company that is building a plant to make seamless tubes for the oil and gas industries in Australia as well as a seamless tube finishing facility in Sharjah (UAE), today listed its ordinary shares on the Dubai International Financial Exchange (DIFX).
SIFMA: SEC Leaves Investors In The Lurch By Not Asking For Rehearing

Date 14/05/2007

The Securities Industry and Financial Markets Association (SIFMA) today expressed its outrage when it became known the Securities and Exchange Commission (SEC) would not ask for a rehearing in the case of Financial Planning Association v. SEC.