News Centre

Direct Edge Trading Notice #14-03: Tier Calculation Update Effective February 3, 2014

Date 29/01/2014

As announced in Direct Edge Trading Notice #13-48, EDGA Exchange^SM (EDGA^®) and EDGX Exchange^SM (EDGX^®) have excluded odd lot executions from Total Consolidated Volume (TCV) calculations used to determine volume tiers.  The exclusion started December 9, 2013 and will continue through January 31, 2014.  Effective Monday, February 3, 2014, EDGA and EDGX will include odd lot executions in the Total Consolidated Volume (TCV) calculations used for determining volume tiers.

Federal Reserve Issues FOMC Statement

Date 29/01/2014

Information received since the Federal Open Market Committee met in December indicates that growth in economic activity picked up in recent quarters. Labor market indicators were mixed but on balance showed further improvement. The unemployment rate declined but remains elevated. Household spending and business fixed investment advanced more quickly in recent months, while the recovery in the housing sector slowed somewhat. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.

UBS MTF Trading Notice - Additional Central Clearing Counterparty

Date 29/01/2014

This trading notice is to inform you that UBS MTF has added an additional Central Clearing Counterparty.  Trading Participants are now able to choose between three interoperating central counterparties (CCPs) when clearing their trades on UBS MTF: SIX-X-Clear Ltd, EuroCCP Ltd and EuroCCP N.V. (formerly EMCF).

EuroCCP Ltd will cease operations as a central counterparty on UBS MTF by no later than March 2014.

As part of the migration from EuroCCP Ltd to EuroCCP N.V., there will be a mandatory migration of flow for the Spanish market on UBS MTF. EuroCCP Ltd will continue to clear transactions in Spanish instruments on UBS MTF up to and including 17 February 2014. Members who wish to continue to trade Spanish instruments on UBS MTF after this date must be set up with EuroCCP N.V.

If you have any queries regarding this notice please contact the UBS MTF Supervisor at +44 20 7568 2052 or UBS_MTF@ubs.com

EBA Publishes Final Draft Technical Standards On Own Funds Requirements For Investment Firms

Date 29/01/2014

29 January 2014

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on own funds requirements for investment firms based on fixed overheads. These RTS harmonise the calculation of capital requirements for those investment firms that have limited authorisation to provide investment services, as well as the conditions under which competent authorities can make adjustments to such requirements. These final draft RTS will be part of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in Europe.

Nigerian Bourse Joins Global Surveillance Group

Date 29/01/2014

The Nigerian Stock Exchange (NSE) is the latest bourse to be admitted by the Intermarket Surveillance Group (ISG) as the alliance recently informed The NSE that its application to join the ISG was successful after a rigorous review process. The admission of the NSE to the ISG is an indication that the NSE’s surveillance capacity is of international standard and will contribute to raising investor confidence in the Nigerian capital markets.

EBA Issues Recommendation On The Use Of The Legal Entity Identifier (LEI) For Supervisory Purposes

Date 29/01/2014

The European Banking Authority (EBA) published today a Recommendation on the use of unique identification codes for supervisory purposes for every credit and financial institution in the European Union. This Recommendation is a major step forward in harmonizing the identification of legal entities, in line with proposals by the Financial Stability Board (FSB) endorsed by the G20, to ensure consistent and comparable data.

SEC: Scottrade Agrees To Pay $2.5 Million And Admits Providing Flawed “Blue Sheet” Trading Data

Date 29/01/2014

The Securities and Exchange Commission today charged Scottrade with failing to provide the agency with complete and accurate information about trades done by the firm and its customers, which is commonly called “blue sheet” data.

ADX To Host Market Maker Conference

Date 29/01/2014

Abu Dhabi Securities Exchange (ADX) announced that it will be hosting its first conference for the year 2014 under the theme of "Market Maker".  The conference will take place on Sunday, February 16th at the St. Regis Saadiyat Island Resort, in Abu Dhabi under the patronage and presence of H.E. Nasser Ahmed Al Suwaidi, Chairman of Abu Dhabi Securities Exchange.

SEC Charges Chicago-Based Accountant With Insider Trading In Wife’s Account

Date 29/01/2014

The Securities and Exchange Commission today announced charges against the former director of internal audit at a Chicago-based health care information technology company for insider trading ahead of the release of its financial results and making more than a quarter-million dollars in illicit profits.

NASDAQ OMX Introduces TradeGuard To Expand Access Services Suite Of Risk Management Solutions - A Single Platform For Pre- And Post-Trade Risk Management

Date 29/01/2014

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and its Access Services business today announced TradeGuard, a comprehensive solution for all levels of risk management and an expansion of the enterprise risk management platform formerly known as FTEN. TradeGuard will allow customers to choose from a broad product suite for a range of risk management support, from building a custom risk solution to supplementing internal systems.