News Centre

DFM Introduces The “Allocation Account” In A First Step Of Its Kind In The Region

Date 17/01/2018

• The new mechanism enables brokers to execute transactions through a combined account and allocate the proceedings into clients' accounts within 45 minutes from the end of the trading session
• H/E Essa Kazim: “Allocation Account has created a proficient and transparent electronic tool for trading activities of international funds and will further promote their participation on the market”

Barbican Insurance Group Partners With FICO To Enhance Cyber Underwriting - Barbican Will Use The FICO Enterprise Security Score In Underwriting Decisions, And Provide Subscriptions To Policy Holders To Promote Ongoing Cyber Risk Reduction

Date 17/01/2018

• Barbican Insurance Group has selected the FICO® Enterprise Security Score as its predictive analytic measure of cybersecurity risk for breach insurance underwriting.
• The partnership will also provide Barbican's insureds with access to the FICO® Enterprise Security Score Portrait product, enabling continual cyber risk mitigation.
• In addition, Barbican will offer premium credit to all of its cyber policy holders that subscribe to the Enterprise Security Score.

Abu Dhabi Securities Exchange (ADX) Signs Memorandum To Support Adoption Of Distributed Ledger Technology

Date 17/01/2018

• ADX will collaborate with key global stakeholders to determine the common standards and principle for implementation of and advancing Blockchain enabled use cases such as proxy voting and digital assets
• Collaboration will yield greater efficiency in clearing and settlement operations, enhance capital market transactions processing, and protect investors and financial markets
• ADX is the first market in MENA region to sign an agreement of this kind
• ADX continues track record of securities innovation, which enabled ADX to become member of the World Federation of Exchanges (WFE) and the International Securities Services Association(ISSA)

Shanghai Stock Exchange, CSDC Revise Rules For Trading Business Of Collateralized Repo Of Stocks

Date 17/01/2018

With the approval of the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) and China Securities Depository and Clearing Co., Ltd. (CSDC) have revised the “Measures for Trading, Depository and Clearing Businesses of Collateralized Repo of Stocks (for Trial Implementation)” (the “Trial Measures” for short), and issued the “Measures for Trading, Depository and Clearing Businesses of Collateralized Repo of Stocks (Revised in 2018)” (the “Business Measures” for short) on January 12, 2018, which shall come into effect starting on March 12, 2018.

Dalian Commodity Exchange Officially Investigated 16 Violations In 2017

Date 17/01/2018

In the fourth quarter of 2017, Dalian Commodity Exchange (DCE) continued to crack down on all kinds of violations, including 92 cases of unusual transactions, of which 41 were self-trade, 47 were frequently placing and cancelling orders and 4 were violating position limit by related accounts under common control, and 15 cases of violating position limit for hedging during trading session, banning 17 clients from opening positions temporarily, and disqualifying 1 client for hedging exemption. A total of 36 violation clues were treated, including 14 cases of transferring funds through matched orders, and 22 cases of self-trade or wash trade affecting the prices of the inactive contracts, with 1 case reported to the China Securities Regulatory Commission (CSRC) for investigation. In addition, DCE intensified the inspection of the related accounts under common control by including 381 accounts in 144 groups in the list of special monitoring, issuing 176 inquiry letters of market inspection, and identifying and urging 280 clients in 108 groups to declare the relationship of common control.

Shanghai Stock Exchange Issues Q & A On Detailed Rules For Shareholding Lessening By Shareholders, Directors, Supervisors, Senior Executives Of Listed Companies

Date 17/01/2018

On May 27, 2017, the China Securities Regulatory Commission (CSRC) released the "Some Provisions on Shareholding Lessening by Shareholders, Directors, Supervisors and Senior Executives of Listed Companies" (CSRC Announcement [2017] No. 9 Document, hereinafter referred to as "Announcement No. 9"), and the Shanghai Stock Exchange (SSE) issued the supportive "Detailed Implementation Rules of SSE for Shareholding Lessening by Shareholders, Directors, Supervisors and Senior Executives of Listed Companies" (the "Detailed Rules" for short). As an important part of the construction of the fundamental system for the securities market and an essential measure for the "law-based, all-around and strict" regulation, the Detailed Rules is of great and far-reaching significance in guiding rational investment, protecting investors' rights and interests and maintaining the market order. Since the implementation of the Detailed Rules, the shareholders, directors, supervisors and senior executives have reduced their shareholding in an orderly and transparent way, and the shareholding lessening has been stable in the market on the whole; The loophole in the "bridge-crossing" shareholding lessening (Some major shareholders transfer shares by way of block trading, and then relevant receivers sell the shares on the secondary market) has been mended in the block trade, with the average daily shareholding lessening in the block trade at RMB220 million on the SSE, down by 41% from the daily average of RMB370 million before the implementation of the Detailed Rules; the "reckless" shareholding lessening by the directors, supervisors and senior executives has been alleviated, with the average daily shareholding reduction by directors, supervisors and senior executives at RMB12 million after the implementation of the Detailed Rules, shrinking by 31.42% compared with the daily average of RMB17 million before the implementation.

Former Head Of Barclays New York Foreign Exchange Operation Indicted For Orchestrating Multimillion-Dollar Front-Running Scheme

Date 17/01/2018

The former head of Barclays Capital Inc.’s (Barclays) New York foreign exchange trading operation was charged yesterday in an indictment for his alleged role in a scheme to defraud a client of Barclays through a method commonly referred to as “front-running.”  The charges relate to the manipulation of foreign exchange options in advance of an exceptionally large trade by the Palo Alto, California-based Hewlett-Packard Company (HP) in 2011.

CalPERS Board Elects Priya Mathur As President, Rob Feckner As Vice President

Date 17/01/2018

The CalPERS Board of Administration elected Priya Mathur as board president and Rob Feckner as vice president. Mathur is the first female elected president of the CalPERS board. This will be her first term.

CME Group Announces Henry Hub Natural Gas Futures All-Time Daily Volume Record, Surpassing 1 Million Contracts

Date 16/01/2018

CME Group, the world's leading and most diverse derivatives marketplace, today announced it reached a daily trading volume record for Henry Hub Natural Gas futures on January 12, 2018, of 1,022,858 contracts - surpassing the 1 million milestone for the first time. The previous single-day trading volume record was 995,129 contracts set on January 11, 2018.

Remarks At Ceremonial Swearing In Of SEC Commissioners Hester M. Peirce And Robert J. Jackson, Jr., Jay Clayton Chairman

Date 16/01/2018

Good Morning. 

I hope that everyone had a very nice weekend and enjoyed the holiday on which we commemorate the life and contributions of Dr. Martin Luther King, Jr.

I note that this August will be the 55th anniversary of Dr. King’s “I Have A Dream” speech here in Washington and April will be the 50th anniversary of his death at age 39.

His lasting impact on America is remarkable and even more remarkable in the context of his short life with us. It is amazing the difference one person can make.