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ASIC: Credit Suisse Pays $75,000 Infringement Notice
Date 03/07/2020
Credit Suisse Equities (Australia) Limited (Credit Suisse) has paid a penalty of $75,000 to comply with an infringement notice given by the Markets Disciplinary Panel (the MDP).
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ISDA derivatiViews: Reforming The EU BMR
Date 02/07/2020
There’s been a lot of recent attention on LIBOR and other interbank offered rates, but there are a multitude of other interest rate, credit, FX, equity and commodity benchmarks that are absolutely vital in enabling firms to manage their day-to-day business activities – from hedging risk to converting overseas revenue and repatriating funds. Under the European Union’s Benchmarks Regulation (BMR), however, EU end users, including pension funds, insurance companies, industrial corporations and investors, could suddenly lose access to many of these benchmarks after the end of 2021. We think this needs to change in order to avoid putting EU institutions at a severe competitive disadvantage and leaving them with potentially no alternative means to manage their exposures.
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CFTC Financial Data For Futures Commission Merchants Update
Date 02/07/2020
Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example: The 17th business day filing “due date" for February 28, 2015 financial reports was March 25, 2015. The 12 business day target for posting these data was April 10, 2015.
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MIAX: Consolidated Audit Trail Compliance Rules Information
Date 02/07/2020
FINRA has published a Regulatory Notice providing an update on coordination between the national securities exchanges and FINRA on the Consolidated Audit Trail (“CAT”) compliance rules (the “CAT Compliance Rules”).
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ISDA: Review Of The MIFID II/MIFIR Framework
Date 02/07/2020
The revised Markets in Financial Instruments Directive and Markets in Financial Instruments Regulation (MIFID II/MIFIR) were critical elements of the European Union’s (EU) effort to address shortcomings exposed by the financial crisis. Among other things, the framework was aimed at incentivizing the trading of standardized over-the-counter derivatives on exchanges and electronic trading platforms where appropriate, in order to improve transparency and ensure a level playing field between existing trading execution techniques.
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Canadian Securities Regulators Introduce Guidance For Flexible Chief Compliance Officer Arrangements For Businesses
Date 02/07/2020
The Canadian Securities Administrators (CSA) today announced guidance that will allow firms to implement more flexible chief compliance officer (CCO) arrangements that better align with their operational needs and business models. The guidance published today outlines three CCO models tailored to the needs of small businesses, specialized businesses, and firms with multiple lines of business.
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CME Group Reports June And Second-Quarter 2020 Market Statistics
Date 02/07/2020
CME Group, the world's leading and most diverse derivatives marketplace, today reported its June and second-quarter 2020 market statistics, showing it reached average daily volume (ADV) of 17.6 million contracts during the quarter and 17.1 million contracts during the month of June. Open interest at the end of June was 101 million contracts. Market statistics are available online in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume.
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BOX Exchange: Position And Exercise Limit Increases For Options On Certain Exchange Traded Funds
Date 02/07/2020
BOX Exchange LLC (“BOX”) recently filed a proposed rule change1 to increase position and exercise limits for options on the following exchange traded funds (“ETFs”).
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Moscow Exchange: Risk Parameters Change On Derivatives Market During Holidays On Foreign Exchanges
Date 02/07/2020
Due to Holidays on foreign exchanges on July 3, 2020 CCP NCC sets the following risk parameters on Derivatives market:
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Hong Kong Securities And Futures Commission Commences False Trading Prosecution Against Retail Investor
Date 02/07/2020
The Securities and Futures Commission (SFC) today commenced criminal proceedings at the Eastern Magistrates’ Court against Mr Ke Wen Hua for alleged false trading in the shares of Carry Wealth Holdings Limited on 4 September 2012.
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