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Federal Reserve Governor Daniel K. Tarullo At The Center For American Progress And Americans For Financial Reform Conference, Washington, D.C., July 12, 2016, Opening Remarks

Date 12/07/2016

Having been given the privilege of opening this conference, let me start at the very beginning with the term "shadow banking." The very phrase evokes the sense of something hidden, furtive even--a sort of film noir backdrop for extending credit, in contrast to the well-lit setting of the local insured depository institution. In the pre-crisis years, there did indeed develop modes of financial intermediation in which certain features of a counterparty relationship were, if not quite obscured, then at least ambiguous, and thus "shadowy." Most notable were arrangements in which guarantees of capital preservation or liquidity provision were understood to exist and to have been previously honored, even in the absence of contractual obligations for those guarantees. But as asset values were falling to points unknown, the withdrawal of many of these implicit guarantees by financial entities that were themselves under stress amplified the growing liquidity crunch.

Toronto Stock Exchange And TSX Venture Exchange Host Market Close Ceremony In Vancouver To Celebrate Fifth Annual Charity Golf Tournament

Date 12/07/2016

Toronto Stock Exchange and TSX Venture Exchange will host a market close ceremony today at Vancouver's University Golf Club to celebrate the fifth annual TMX Charity Golf Classic. The tournament has raised over $350,000 for the benefitting charities over the past four years.

Moscow Exchange: The Additional Trading Session Starts Later For Derivatives On 20, 21 And 26 July

Date 12/07/2016

Please note that the Derivatives Market evening trading session will begin five minutes later, i.e. at 7:05 pm MSK, on 20, 21 and 26 July 2016, as these are the last trading days for options contracts (in accordance with clause 7.2 of the Rules of organized trading for the Moscow Exchange Derivatives Market).

UK's Financial Conduct Authority Publishes Annual Report 2015/16 And Report Of Its Competition Activities Since 2013

Date 12/07/2016

The Financial Conduct Authority (FCA) has today published its third Annual Report, which looks back on the key pieces of work undertaken by the organisation throughout 2015/16. The FCA has also published a report summarising the activities it has undertaken to promote competition in financial services in its first three years.

BME: Quonia Socimi To Start Trading On MAB On 18 July

Date 12/07/2016

The Coordination and Admissions Committee of the Mercado Alternativo Bursátil (MAB) has submitted to the Board of Directors a favourable report on QUONIA SOCIMI,stating that the company is eligible for admission to the SOCIMIs (REITs) segment of this market, following a review of all the information presented by the company.

R.J. O’Brien Hires Ethanol Specialist Jordan Stern

Date 12/07/2016

Chicago-based R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, today announced that Jordan Stern has joined the firm as Senior Vice President of Ethanol, operating out of Chicago. Stern will be focused on building out the firm’s futures, swaps and physical brokerage capabilities in ethanol and other biofuels beginning August 1. 

Bank Of England: Record Of The FPC Meetings Held On 28 June And 1 July 2016

Date 12/07/2016

• Reduced the UK countercyclical capital buffer rate from 0.5% to 0% of banks’ UK exposures with immediate effect. 
• Recommended to the Prudential Regulation Authority (PRA) that, where existing PRA supervisory buffers of PRA-regulated firms reflect risks that would be captured by a UK countercyclical capital buffer rate, it reduce those buffers, as far as possible and as soon as practicable, by an amount of capital which is equivalent to the effect of a UK countercyclical capital buffer rate of 0.5%.
• Welcomed the Bank of England’s announcement that it will continue to offer indexed long-term repo operations on a weekly basis until end-September 2016. This is a precautionary step to provide additional flexibility in the Bank’s provision of liquidity insurance, further reinforcing the ability of firms to draw on their own liquidity buffers.
• Supported the position of the PRA to allow insurance companies to use flexibility in Solvency II regulations to recalculate transitional measures. These measures smooth the impact of those new regulations. 

Clearstream’s Monthly Report

Date 12/07/2016

• European and Asian Exchange Traded Funds offer attractive lending returns
• Clearstream Chairman Tessler: Growing demand is curtailed by settlement challenges

STOXX Enters MOU WIth Yuanta SITC And MUTB To Expand Smart-Beta Footprint In Taiwan

Date 12/07/2016

STOXX Ltd., the operator of Deutsche Boerse Group’s index business, and a global provider of innovative and tradable index concepts, today announced that it has entered into a memorandum of understanding (MOU) with Yuanta Securities Investment Trust Company (Yuanta SITC), the largest mutual fund company in Taiwan, and Mitsubishi UFJ Trust and Banking Corp. (MUTB), the leading Japanese trust bank, to expand the smart-beta footprint in Taiwan.

The African Development Bank And The African Securities Exchanges Association Sign Memorandum Of Understanding To Join Forces To Develop Africa’s Capital Markets

Date 12/07/2016

The African Development Bank (AfDB) and the African Securities Exchanges Association (ASEA) signed a 5-year Memorandum of Understanding (MoU) to amplify the impact of their strategically aligned joint efforts to promote resources mobilization to fund Africa’s economic growth. This MoU will provide a collaborative framework for harmonizing and coordinating the efforts of AfDB, the premier international development financial institution for Africa, and ASEA, the premier body of African stock exchanges, towards deepening and connecting African financial markets.