News Centre

SEC Adopts T+2 Settlement Cycle For Securities Transactions

Date 22/03/2017

The Securities and Exchange Commission today adopted an amendment to shorten by one business day the standard settlement cycle for most broker-dealer securities transactions.  Currently, the standard settlement cycle for these transactions is three business days, known as T+3.  The amended rule shortens the settlement cycle to two business days, T+2. 

UK's Financial Conduct Authority Wins London Whale Identity Case

Date 22/03/2017

The UK's Financial Conduct Authority (FCA) won a landmark case in the the U.K. Supreme Court over the identification of individuals in its public censure notices, overturning decisions in the lower courts that had threatened to complicate the FCA’s ability to enforce market rules. The case was brought against the FCA by Achilles Macris, the former JP Morgan executive who managed the 'London Whale' trader.

Reuters: EU To Formally Veto Deutsche Boerse LSE Merger Shortly: Sources

Date 22/03/2017

The European Commission will shortly veto a proposed merger between Deutsche Boerse and the London Stock Exchange, four sources close to the matter said on Wednesday, scuppering plans to create Europe's biggest exchange.

Statement At Open Meeting Regarding Amendment To Shorten The Trade Settlement Cycle - SEC Acting Chairman Michael S. Piwowar

Date 22/03/2017

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission on March 22, 2017, under the Government in the Sunshine Act. The Commission today will consider a recommendation from the staff to adopt an amendment to shorten the standard settlement cycle for most securities transactions from three business days after the trade date, T+3, to two business days after the trade date, T+2.

New York State Department of Financial Services (DFS) Authorizes Coinbase, Inc. To Provide Additional Virtual Currency Products And Services - Coinbase Is The Second Company To Receive DFS Approval To Offer Trading Of Emerging Digital Currency Ethereum And The First To Offer Litecoin In New York

Date 22/03/2017

Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of Coinbase, Inc., a wholly owned subsidiary of Coinbase Global, Inc., to offer Ethereum and Litecoin for New York customers.  DFS has also approved Coinbase to offer users in New York to access “Shift Card”, a Coinbase linked debit card service.

First Buy-Side Client Live With Credit Default Swaps Clearing At LCH

Date 22/03/2017

• Amundi is LCH’s first live buy-side client on CDSClear
• BNP Paribas acts as Amundi’s clearing broker
• Reflects continued growing momentum behind CDSClear service

Ullink Launches MiFID II Trade Reporting Solution - Multi-Asset Solution Will Enable Firms To Comply With Post-Trade Transparency Rules Set To Come Into Force In 2018

Date 22/03/2017

Ullink, a global provider of electronic trading and connectivity solutions to the financial community, has launched its MiFID II compliant trade reporting solution to help its clients meet regulatory requirements for greater accuracy in reporting and timeliness of data collection.

ESMA Statement To ECON Hearing On CCP Recovery & Resolution

Date 22/03/2017

The Chair of the European Securities and Markets Authority (ESMA), Steven Maijoor, took part this morning in a hearing on CCP Recovery and Resolution organised by the Economic and Monetary Affairs Committee (ECON) of the European Parliament.

Hong Kong's Securities And Futures Commission Obtains Court Orders To Freeze Bank Accounts In Suspected Pyramid And Ponzi Scheme

Date 22/03/2017

The Securities and Futures Commission (SFC) today obtained an interim order from the Court of First Instance to freeze approximately $2.66 million in the bank accounts of Mr Heriberto C. Perez Valdes in connection with a suspected Pyramid and Ponzi scheme.

New People’s Bank Of China And EIB Initiative To Strengthen Green Finance

Date 22/03/2017

The People's Bank of China, the central bank of the People's Republic of China, and the European Investment Bank, the European Union’s long-term lending institution, today announced a joint initiative intended to combine policy and market best-practice and strengthen the framework for green investment.