News Centre

Market Opening Bell Ringing To Celebrate The Launch Of The New Platform: Dubai Financial Market Debuts Equity Futures Trading, In A Significant Boost To Its Product Offering Diversification Strategy

Date 18/10/2020

• Future contracts on single stocks of five listed companies including: Emaar Properties, Dubai Islamic Bank, Emirates NBD, Emaar Development and Emaar Malls
• H.E. Essa Kazim: “The diversification strategy reinforced DFM’s position as one of the leading regional markets in terms of asset classes’ variation”
• Hassan Al Serkal: “Growth prospects are promising, considering investors’ rising demand for diversified asset classes and brokers’ active participation”
• Hamed Ali: “Robust regulatory framework to ensure that equity futures are well-positioned to resonate growth levels on international markets”
• Maryam Fekri: “Dubai Clear provides the new platform with world-class clearing solutions”

Nadex Temporary Outage

Date 16/10/2020

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and section §40.6(a) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) submitted an emergency action to the Commission on October 16, 2020 providing notice that on trade date Friday, October 16, 2020, the Nadex trading platform was impacted when shortly after the 6:00pm ET open the Exchange experienced a technical issue that caused a temporary trading outage.  The issue was corrected and service was restored at approximately 6:35pm ET.

CFTC Commitments Of Traders Update

Date 16/10/2020

The current reports for the week of October 13, 2020 are now available.

Who Watches the Watchers?* Joint Statement On Auditor Independence Amendments, SEC Commissioner Allison Herren Lee, SEC Commissioner Caroline A. Crenshaw, Oct. 16, 2020

Date 16/10/2020

Auditors play a crucial role in promoting public trust in our markets by providing assurances about the reliability of financial disclosures. This role has been described as a “public watchdog” function that “demands that the accountant maintain total independence from the client at all times and requires complete fidelity to the public trust.” Those clients, however, hire and pay their own watchdogs, prompting the late, distinguished securities law professor Lynn Stout to observe “[w]hen the people being watched get to choose their watchdog, they’re not going to choose the toughest animal around.” The import of this observation is not to impugn motives, but to point out that there is an obvious and inherent conflict of interest in the so-called “issuer pays” model used in public auditing. This conflict would be significant even if auditing fees were its only source. But in recent years, audit fees at the Big Four accounting firms have been dwarfed by even more lucrative consulting, tax, and other non-audit services offered by large accounting firms, which now account for close to two-thirds of overall revenues.

SEC Updates Auditor Independence Rules, Amendments Reflect Staff Experience Applying The Auditor Independence Framework

Date 16/10/2020

The Securities and Exchange Commission today announced that it adopted final amendments to certain auditor independence requirements in Rule 2-01 of Regulation S-X.  Informed by decades of staff experience applying the auditor independence framework, the final amendments modernize the rules and more effectively focus the analysis on relationships and services that may pose threats to an auditor’s objectivity and impartiality.  

Nigerian Stock Exchange Weekly Market Report For October 16th 2020

Date 16/10/2020

A total turnover of 1.955 billion shares worth N22.978 billion in 22,844 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 3.140 billion shares valued at N35.372 billion that exchanged hands last week in 35,099 deals.

Statement On Order Approving A Wireless Fee Schedule Setting Forth Available Wireless Bandwidth Connections And Wireless Market Data Connections, SEC Commissioner Hester M. Peirce, Oct. 16, 2020

Date 16/10/2020

The New York Stock Exchange and four affiliated exchanges applied for approval pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act” or “Act”)[1] and Rule 19b-4 thereunder[2] of fees that they charge for wireless bandwidth connections provided by ICE Data Services (“IDS”), which is an affiliate of the Exchanges. NYSE and three affiliated exchanges also applied for approval under the same provisions of fees for wireless market data connections, also provided by IDS. I concur with the Commission that, based on the filings and the record before us, these fees are consistent with the Exchange Act and that IDS should be able to continue providing these services.

Ardova Plc Presents H1:2020 Financials At Nigerian Stock Exchange Facts Behind The Figures

Date 16/10/2020

Ardova Plc has joined the league of companies that have leveraged The Nigerian Stock Exchange’s (NSE or The Exchange) Facts Behind the Figured (FBF) platform to engage with capital market stakeholders. The virtual FBF which held on Thursday, 15 October 2020 saw the Management of Ardova Plc to present its financial performance, strategic and operational developments, and future plans to the capital market community.

Promoting An Effective Auditor Independence Framework, SEC Chairman Jay Clayton, Oct. 16, 2020

Date 16/10/2020

Today, after a robust and constructive notice and comment process and based on decades of staff experience, the Commission approved a recommendation from the Office of the Chief Accountant to modernize several discrete aspects of our auditor independence rules.

OKEx Suspension Of Digital Assets/Cryptocurrencies Withdrawals

Date 16/10/2020

One of OKEx's private key holders is currently cooperating with a public security bureau in investigations where required. OKEx has been out of touch with the concerned private key holder.  As such, the associated authorization could not be completed.  Pursuant to 8.1 Service Change and Interruption of the Terms of Service, OKEx may change the Service and/or may also interrupt, suspend or terminate the service at any time with or without prior notice. In order to act in the best interests of customers and deliver exceptional longtime customer service, OKEx has decided to suspend digital assets/cryptocurrencies withdrawals as of [October 16, 2020 at 11:00 (Hong Kong Time)].  OKEx assure that OKEx’s other functions remain normal and stable and the security of your assets at OKEx will not affected.