FTSE Mondo Visione Exchanges Index:

News Centre

ISDA: Risk Sensitive Capital Treatment For Clearing Member Exposure To Central Counterparty Default Funds (ISDA paper)

Date 02/04/2013

ISDA has been working on a proposal that we consider can be calibrated to properly measure the risk of loss of a Clearing Member’s (“CM”) default fund contribution and meet regulatory requirements. The proposal builds on existing frameworks and in our view has a firm theoretical underpinning which should deliver appropriate sensitivity to the key risks to the default fund. Part of the proposal, specifically the Historic Drawdown Measure (“HDM”) has been reviewed by the Joint Working Group (“JWG”). We now propose to incorporate the HDM into an Incremental Default Risk Charge (“IDRC”), which is the type of model that is currently used for trading book default risk. Our proposal is that Central Counterparties (“CCPs”) would be requiredto provide the HDM data to CMs. CMs would then run an IDRC model to estimatethe 99.9^th percentile loss on the basis that they might become liable for calls on the default fund over a one-year time horizon. The capital requirement covers funded and unfunded losses.
SEC: Foreign Traders Agree To Pay $3.3 Million To Settle Charges In Nexen Insider Trading Case

Date 02/04/2013

The Securities and Exchange Commission today announced that a Chinese businessman and his wife whose trading accounts were frozen last year as part of a major insider trading case have agreed to settle charges that they loaded up on the securities of Nexen Inc. while in possession of nonpublic information about an impending announcement that the company was being acquired by China-based CNOOC Ltd.
Statement By The Republic Of Cyprus Government Spokesman Mr Christos Stylianides During A Press Conference With The Ministers That Participate In The Government’s Negotiating Team With Troika

Date 02/04/2013

Today the formation of the Memorandum was completed, which consists a prerequisite for the Loan Agreement. This is an important development which brings a long period of uncertainty to an end. Undoubtedly, the completion of the Agreement with Troika should have taken place a lot sooner, under more favourable political and financial circumstances. Even with this delay, the situation is now normalizing, stabilizing and the conditions to restart the economy are created.
SEC Says Social Media OK For Company Announcements If Investors Are Alerted

Date 02/04/2013

The Securities and Exchange Commission today issued a report that makes clear that companies can use social media outlets like Facebook and Twitter to announce key information in compliance with Regulation Fair Disclosure (Regulation FD) so long as investors have been alerted about which social media will be used to disseminate such information.
ISDA Credit Derivatives Determinations Committee: Dex One Corporation And SuperMedia Bankruptcy Credit Event

Date 02/04/2013

The International Swaps and Derivatives Association, Inc. (ISDA) announced yesterday that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Dex One Corporation and SuperMedia Inc. and other entities listed in their bankruptcy filings.

CBOE Holdings Reports March 2013 Trading Volume – CORRECTION

Date 02/04/2013

In the news release, "CBOE Holdings Reports March 2013 Trading Volume," issued 01-Apr-2013 by CBOE Holdings, Inc. over PR Newswire, we are advised by the company that the first table, "CBOE Holdings Consolidated Trading Volume," which was originally included, has been replaced by a corrected table.
CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues Time-Limited No-Action Letter For Commodity Pool Operators Of Securitization Vehicles

Date 02/04/2013

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a time-limited letter stating that DSIO will not recommend that the Commission take enforcement action against the commodity pool operators of securitization vehicles that are required to register by March 31, 2013, for failure to comply with certain enumerated sections in Part 4 of the Commission’s regulations, prior to June 30, 2013 – provided that the commodity pool operators of securitization vehicles comply with the guidance set forth in the letter with respect to those sections.
Press Conference by the Republic Of Cyprus Government Spokesman and Ministers participating in the Governmentʼs negotiating team with the Troika

Date 02/04/2013

The Government Spokesman, Mr Christos Stylianides, the Minister of Finance Mr Michalis Sarris, the Minister of Commerce, Industry and Tourism, Mr Yiorgos Lakkotrypis, and the Minister of Education and Culture, Mr Kyriakos Kenevezos, gave a joint Press conference today, at the Presidential Palace, to announce the improvements that have been achieved in the negotiations with the Troika regarding Cyprus’ adjustment program.
Written Statement By The President Of The Republic Of Cyprus, Mr Nicos Anastasiades – Resignation Of Minister Of Finance, Mr Michalis Sarris

Date 02/04/2013

It is with sadness that I accepted today the resignation of the Minister of Finance, Mr Michalis Sarris. I want to thank Mr Sarris for his valuable services during the course of the difficult negotiations with the Troika. The negotiations were concluded today with significant successes regarding the aims that were pursued.
ESMA Publishes The Guidelines On Market Making And Primary Dealer Exemption - Application Deadline Starts

Date 02/04/2013

ESMA has published the official translations of its final “Guidelines on exemption for market making activities and primary market operations under the Short Selling Regulation” (ESMA/2013/158), first published on 1 February 2013.