News Centre

ESMA Closed For Public Holidays On 9, 10 And 11 May

Date 08/05/2018

The European Securities and Markets Authority (ESMA) is closed for a public holidays on Wednesday 9 May - Europe Day, Thursday 10 May and Friday 11 May and will reopen on Monday 14 May.

FINRA Sanctions Fifth Third Securities, Inc., $6 Million For Cost And Fee Disclosure Failures And Unsuitable Recommendations Related To Variable Annuity Exchanges

Date 08/05/2018

The Financial Industry Regulatory Authority (FINRA) announced today it has fined Fifth Third Securities, Inc., $4 million and required the firm to pay approximately $2 million in restitution to customers for failing to appropriately consider and accurately describe the costs and benefits of variable annuity (VA) exchanges, and for recommending exchanges without a reasonable basis to believe the exchanges were suitable. This is the second significant FINRA enforcement action against Fifth Third involving the firm’s sale of variable annuities.

Nasdaq Boardvantage® And passiveIQ™ Win American Business Awards’ Gold Stevie® For “Best New Product Of The Year”

Date 08/05/2018

Nasdaq, Inc. (Nasdaq:NDAQ) is pleased to announce that the following products and services have been named Gold Stevie winners at the 2018 American Business Awards:

• Nasdaq Boardvantage named “Best New Product of the Year” in the Collaboration/Social Networking Solution category;
• passiveIQ™ named “Best New Product of the Year” in the Business or Competitive Intelligence Solution category.

"We Will Introduce New Order Types." - Tony Shaw, Director London Office, Securities & Exchanges Of SIX, Presents The Current Success Factors And Future Potential Of SwissAtMid.

Date 08/05/2018

SwissAtMid, the non-displayed order book provided by Exchange Services of SIX that offers the opportunity for mid-point execution on Swiss equity instruments, continues to grow. As Tony Shaw of SIX pointed out in a recent interview (see below), increasing volumes have been accompanied by significant improvements regarding time to fill.

SEC: Hedge Fund Firm Charged For Asset Mismarking And Insider Trading - CFO Charged With Failing To Supervise Portfolio Managers

Date 08/05/2018

The Securities and Exchange Commission today announced the hedge fund advisory firm Visium Asset Management LP has agreed to settle charges related to asset mismarking and insider trading by its privately managed hedge funds and portfolio managers.  Separately, the firm’s CFO agreed to settle charges that he failed to respond appropriately to red flags that should have alerted him to the asset mismarking. 

MiFID II: ESMA Issues Latest Double Volume Cap Data

Date 08/05/2018

The European Securities and Markets Authority (ESMA) has updated today its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II).  Today’s updates include DVC data and calculations for the period of 1 April 2017 to 31 March 2018 (so-called April 2018 publication) as well as updates to already published DVC periods. 

CME Group Announces First Trades Of New SOFR Futures

Date 08/05/2018

CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trades of the new Secured Overnight Financing Rate (SOFR) futures contract, launched on May 7, 2018. The total volume through the first trading day was 3,257 contracts, the majority of which traded with minimum tick markets, demonstrating liquidity through the tightest possible bid-offer spreads. More than 50 firms participated in the first day of trading. Open interest reached 2,033 contracts as of May 7.

Beaches And Bitcoin: Remarks Before The Medici Conference – SEC Commissioner Hester M. Peirce, Los Angeles, CA, May 2, 2018

Date 08/05/2018

 cThank you, Vince [Molinari], for that kind introduction. I appreciate the opportunity to be here today. I must start with the standard disclaimer that my comments today reflect my own opinions and not necessarily those of the Commission or my fellow Commissioners.

Federal Reserve Board Welcomes Release Of Global Strategy For Reducing Wholesale Payments Fraud

Date 08/05/2018

The Federal Reserve Board on Tuesday welcomed the release of a global strategy for reducing wholesale payments fraud and reaffirms its commitment to work collaboratively with domestic and international stakeholders to promote the safety and resiliency of the wholesale payments ecosystem worldwide.

The World Federation Of Exchanges Responds To IOSCO’s Consultation On Volatility Control Mechanisms

Date 08/05/2018

The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, has responded to IOSCO’s Consultation Report on ‘Mechanisms used by trading venues to manage extreme volatility and preserve orderly trading’.