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HKEx: Legal Proceedings Involving A Subsidiary

Date 24/12/2013

The London Metal Exchange (“LME”), a subsidiary of Hong Kong Exchanges and Clearing Limited (“HKEx” or the “Company”), has been named as a defendant in a judicial review claim commenced by United Company RUSAL Plc (“Rusal”) and filed in the English High Court on 23 December 2013. The judicial review seeks to challenge the LME’s decision to introduce changes in its warehousing policy as announced in its notice dated 7 November 2013. The decision on changes in the warehousing policy was made following a three-month market consultation commenced by LME in July 2013 on changes to its policy regarding the delivery out rates of LME approved warehouses. LME management is of the view that the judicial review is without merit and LME will contest it vigorously. Implementation of the proposed changes to the warehousing policy will proceed as announced. The Company will update shareholders and investors on developments at the appropriate time.
Thailand Futures Exchange Announces TFEX Best Awards 2013 Winners

Date 24/12/2013

The Thailand Futures Exchange PCL (TFEX), under The Stock Exchange of Thailand (SET) group, announced the winners of the seven categories of the TFEX Best Awards 2013, with KGI Securities (Thailand) pcl., sweeping three categories.
HKEx: Exchange Transfers Regulatory Oversight Of RUSAL To SFC

Date 24/12/2013

The Stock Exchange of Hong Kong Limited (the Exchange), a wholly owned company of Hong Kong Exchanges and Clearing Limited (HKEx), has transferred its regulatory powers and responsibilities over United Company RUSAL Plc (RUSAL) (stock code: 486) to the Securities and Futures Commission (SFC) as a consequence of RUSAL advising it was contemplating judicial review proceedings* against the London Metal Exchange (LME), also a wholly owned subsidiary of HKEx, in relation to LME’s decision to introduce changes to its warehousing policy.
Osaka Securities Exchange Change In Trade Name

Date 24/12/2013

Osaka Securities Exchange hereby announce that the exchange will change itstrade name as follows.
Shanghai Stock Exchange: Q&A On Online Subscription Business Of IPO-Related Shares On Shanghai Market

Date 24/12/2013

On December 13, the Shanghai Stock Exchange (SSE) and China Securities Depository and Clearing Corporation Limited (CSDC) jointly released the “Measures on Online Subscribing for IPO-related Shares according to Market Capitalization on Shanghai Market” (the “Measures” for short). An official of the SSE answered the following questions concerning the “Measures”.

Shenzhen Stock Exchange Market Bulletin 23 December, 2013 - Issue 29

Date 24/12/2013

Last week, Shenzhen Component Index closed at 7966.7 points after losing 5.5%. SME Index fell 3.4% to 4879.1 points. ChiNext Index dropped 1.9% to 1253.7 points. Total turnover for stocks and funds on SZSE was US$69.6 billion, or a 12.6% decrease from the week before.
Montréal Exchange Christmas Holiday Market Hours

Date 24/12/2013

Interest rate derivative trading will cease at 1:30 p.m. and equity, currency, index and ETF derivative trading will cease at 1:00 p.m. today, December 24, 2013. Furthermore, the Exchange's offices and markets will be closed on December 25 and 26, 2013 (Christmas Day and Boxing Day).
CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues No-Action Relief Regarding Introducing Brokers’ Compliance With Certain Financial Reporting And Capital Computation Requirements

Date 23/12/2013

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter that provides relief for certain Introducing Brokers (IBs) registered with the Commission from certain financial reporting and capital computation requirements. Part of the no-action relief is time-limited to newly registered IBs for the fiscal years ending on or before December 31, 2013.
CFTC’s Division Of Market Oversight Provides Conditional No-Action Relief From Limitations On Execution Methods For Required Transactions That Involve Basis Risk Mitigation Services Provided By A SEF

Date 23/12/2013

The U.S. Commodity Futures Trading Commission’s (CFTC or Commission) Division of Market Oversight (DMO) today announced the issuance of a no-action letter providing swap execution facilities (SEFs) relief, under certain conditions, in connection with a SEF’s provision of certain “basis risk mitigation services,” i.e., a service that manages the basis risk from reference price quarterly re-pricing timing mismatches on swaps. DMO notes that the Commission previously determined that entities providing “risk mitigation services” must register as SEFs because they meet the definition of a SEF in Section 1a(50) of the Commodity Exchange Act (CEA).
CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues No-Action Relief Regarding Swaps Entered Into By Persons Registered As Floor Traders

Date 23/12/2013

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter that provides relief from certain conditions of the swap dealer exclusion for registered floor traders. Specifically, the no-action letter provides relief from the aggregation requirement of Commission Regulation 1.3(ggg)(4)(i) and certain conditions under Regulation 1.3(ggg)(6)(iv) that, if met, permit a floor trader, and/or the affiliate of a floor trader, to exclude swaps from the aggregate gross notional amount of swap transactions for purposes of the determining whether such person meets the swap dealer definition.