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  • Opening Statement Of CFTC Commissioner J. Christopher Giancarlo Before The CFTC Technology Advisory Committee Meeting

    Date 23/02/2016

    I thank Chairman Massad for convening today’s meeting of the Technology Advisory Committee (TAC or Committee) that last met over twenty months ago. It is important that we reestablish this Committee to build upon the crucial work of the previous TAC. In fact, two of today’s topics – automated trading and swaps data reporting – were extensively discussed at previous TAC meetings.

  • ESM Raises Total Of €4 Billion In Two Bond Maturities

    Date 23/02/2016

    The European Stability Mechanism (ESM) today issued a new 10-year €3 billion benchmark bond and tapped its existing December 2055 bond for €1 billion in a dual-tranche transaction that raised a total of €4 billion.

  • Statement Of CFTC Commissioner Bowen Before The Technology Advisory Committee Meeting

    Date 23/02/2016

    Good morning. It’s a pleasure to be here today for a meeting of the reconstituted Technology Advisory Committee. The Committee clearly has its work cut out for it today so I’ll be brief. As I have said before, changing technology is causing a sea change in how our markets operate, and that’s particularly true of the three issues the Committee will be discussing. I have already spoken several times about the remarkable changes being wrought by the rise of algorithmic trading and the positive impact that I believe our proposed Regulation on Automated Trading will have on market stability. However, this regulation is to me only a first cut. If our new rule is failing to address aspects of algorithmic trading that pose systemic risks or pose undue risks to ordinary investors, I am absolutely willing to take additional steps to craft additional, appropriate regulations on this nascent technology. In that regard, I am very much looking forward to the Committee’s thoughts on our proposal, including whether we have over-reached or even under-reached.

  • Nigerian Stock Exchange National Council Renews CEO’s Contract For A 2nd Five-year Term

    Date 23/02/2016

    The Nigerian Stock Exchange (“The Exchange” or “NSE”) is pleased to announce that its National Council has approved the renewal of contract of employment for Mr. Oscar N. Onyema, OON for another term of five years as Chief Executive Officer of The Exchange effective immediately. Mr. Onyema has served as the CEO of the Exchange since April 2011 and his initial five years employment contract expires on March 31, 2016.

  • Opening Statement Of CFTC Chairman Timothy Massad Before The CFTC Technology Advisory Committee Meeting

    Date 23/02/2016

    Thank you all very much for taking the time to be here today, particularly those of you who have flown in from across the country.

    I want to welcome you all to this meeting of the CFTC’s Technology Advisory Committee. For more than 15 years, the Commission has relied on the TAC for guidance on a wide range of technology issues. Since taking office, I have made it a priority to focus on the technological changes taking place in our marketplace, and the TAC has provided an excellent forum to exchange ideas, discuss issues of importance, and engage with a wide array of market participants.