News Centre

UK’s Financial Conduct Authority Holds Key Conference On Financial Crime - Review Announced Into How UK Banks Control Money Laundering, Terrorist Financing And Sanctions Risks In Trade Finance

Date 01/07/2013

Opening the UK regulator’s Financial Crime Conference today, Martin Wheatley, Chief Executive of the Financial Conduct Authority (the FCA) today announced, “The FCA will do all it can to make Britain a hostile place for criminals to profit from their crimes.”

Antitrust: European Commission Sends Statement Of Objections To 13 Investment Banks, ISDA And Markit In Credit Default Swaps Investigation – Frequently Asked Questions

Date 01/07/2013

What is a Credit Default Swap (CDS)?

A credit default swap ("CDS") is a derivative contract designed to transfer the credit risk (i.e. the risk of default), linked to a debt obligation referenced in the contract. CDS are used by investors for hedging and investing. As a hedge a CDS provides protection against the credit risk arising from holding debt instruments. As an investment vehicle CDS can be used to express a view on the future development of the debt issuer's creditworthiness and earn a profit if the view is correct. CDS are by far the most important type of credit derivatives. Other less frequently used credit derivatives are options and forwards.

What is the size of the CDS market?

In 2013, there were almost 2 million active CDS contracts world-wide, with more than € 10 trillion gross notional amount (source: DTCC). The notional amount is the amount of debt the CDS contract is written on. The actual payment flows from CDS contracts are considerably smaller than the notional amounts. The payments for offering or obtaining credit protection are expressed as a percentage of the notional amount and usually quoted in basis points, i.e. in one-hundredths of a percentage point.

ESMA Review Finds Good Compliance With EU Market Abuse Rules

Date 01/07/2013

The European Securities and Markets Authority (ESMA) has published a peer review of the supervisory practices EEA national competent authorities (NCAs) apply in enforcing the requirements of the Market Abuse Directive (MAD).  The Directive deals with the prevention of the dissemination of misleading information, the breach of reporting obligations and market abuse.

Qatar Exchange - QE Al Rayan Islamic Index: Up 180% Since January 2007

Date 01/07/2013

Since January 2007, QE Al Rayan Index has generated a cumulative return of 180.2%. Over the same period the QE Total Return Index (the conventional equivalent) is up 86.0% while the QE Index has risen 30.2%.

Antitrust: European Commission Sends Statement Of Objections To 13 Investment Banks, ISDA And Markit In Credit Default Swaps Investigation

Date 01/07/2013

The European Commission has informed some of the world's largest investment banks of its preliminary conclusion that they infringed EU antitrust rules that prohibit anti-competitive agreements by colluding to prevent exchanges from entering the credit derivatives business between 2006 and 2009. The sending of a statement of objections does not prejudge the final outcome of the investigation.

Moscow Exchange Indices Weekly Review: June 24-28, 2013

Date 01/07/2013

Weekly review: June 24-28, 2013 (pdf, 660 Kb)

Tradeweb Volume Grows In European Fixed Income Markets - Institutional Investors Continue To Seek The Benefits Of Electronic Trading

Date 01/07/2013

Tradeweb Markets, the leading global provider of fixed income marketplaces, announced a 34 percent year-on-year increase in trade volume for European government bonds in the first half of 2013, and 31 percent growth for European cash credit volume during the same period.

Osaka Securities Exchange: Trading Overview In June 2013 & First Half Of 2013 (January To June)

Date 01/07/2013

OSE announced a trading overview (preliminary estimates) in June 2013 & First Half of 2013 (January to June).

Xetra/FWB: Subscription Launch For DIC Asset AG Corporate Bond - Inclusion In The Prime Standard For Corporate Bonds Planned

Date 01/07/2013

DIC Asset AG is launching a corporate bond in the Prime Standard of the Frankfurt Stock Exchange. The bond with the ISIN DE000A1TNJ22 may be subscribed from today until 8 July, subject to early termination of subscription. It has a volume of up to €100 million, runs until 8 July 2018 and has an interest rate of 5.75 percent. Its nominal denomination is €1,000.

KDPW_CCP Clearing House Files Application For Authorisation Under EMIR

Date 01/07/2013

On 28 June 2013, the clearing house KDPW_CCP filed with the Polish Financial Supervision Authority an application for the authorisation of the clearing house under EMIR*, the European Regulation which sets out, among others, single requirements for clearing houses in the European Union. The authorisation will confirm KDPW_CCP’s capacity of providing services in compliance with EU standards across the EU and allow parties required to clear specific classes of OTC derivatives to fulfil the obligation.