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CFTC’s Division Of Market Oversight Issues No-Action Relief For End-Users From Certain Reporting And Recordkeeping Requirements Of The Trade Option Exemption

Date 05/04/2013

The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) issued a no-action letter stating that DMO will not recommend that the CFTC commence an enforcement action against an entity that is neither a swap dealer (SD) nor a major swap participant (MSP) (collectively, non-SD/MSP), including all end-users, for failing to report under Part 45 of the CFTC’s regulations, as applicable, commodity options otherwise qualifying for the Part 32 trade option exemption, provided that the non-SD/MSP (1) reports such transactions pursuant to Form TO and (2) notifies DMO if it transacts in excess of $1 billion notional value of trade options in any calendar year.
Southern African Central Bank And Finance Ministry Officials Discuss Macroprudential Approaches To Supervision Of Financial Systems In The Region

Date 05/04/2013

Central Bank and Finance Ministry officials from across Southern Africa met this week to discuss enhanced supervision to maintain the stability of the region’s financial systems. The officials, together with international experts in the field, took part in an April 1-4 seminar entitledMacroprudential Approach to Supervision, organized in Pretoria by the International Monetary Fund’s Africa Regional Technical Assistance Center for Southern Africa (AFRITAC South) in collaboration with the South African Reserve Bank (SARB) College.
CFTC: Federal Court Orders Illinois Resident Brant L. Rushton And His Company, Summit Trading & Capital LLC, To Pay Over $4.8 Million For Fraud And Other Violations In Commodity Pool Scheme - B. Rushton Pled Guilty To Criminal Charges In A Parallel Federal Criminal Action And Was Sentenced To Eight Years In Prison

Date 05/04/2013

The U.S. Commodity Futures Trading Commission (CFTC) announced today that it obtained a federal court Order requiring Defendants Brant L. Rushton (B. Rushton) and Summit Trading & Capital LLC(Summit) of Champaign, Illinois, to jointly pay approximately $1.6 million in restitution to defrauded pool participants and a civil monetary penalty of approximately $3.2 million. The court’s grant of summary judgment also imposes permanent trading and registration bans against the Defendants and prohibits them from violating the anti-fraud and other provisions of the Commodity Exchange Act and Commission Regulations, as charged.
MIAX Options Exchange: Penny Pilot Classes For Option Classes To Start Trading On April 8, 2013

Date 05/04/2013

MIAX Regulatory Circular 2013-18 identifies options classes to start trading on April 8, 2013 to be included in the MIAX Penny Pilot Program.
CFTC Commitments of Traders Reports Update

Date 05/04/2013

The current reports for the week of April 2, 2013 are now available.

A Few Observations In The Private Fund Space By David W. Blass, Chief Counsel, Division Of Trading And Markets, U.S. Securities And Exchange Commission - American Bar Association, Trading And Markets Subcommittee, Washington, D.C., April 5, 2013

Date 05/04/2013

Thank you very much, Dana [Fleischman, Chair of the Trading and Markets Subcommittee] for your kind words and for inviting me to speak with you today.
Nigerian Stock Exchange Weekly Report For The Week Ended April 5, 2013

Date 05/04/2013

It was a four-day trading week as the Federal Government of Nigeria declared Monday April 1st 2013 a public holiday to commemorate Easter Monday.
Direct Edge Trading Notice #13-14: Limit Up-Limit Down And Market-Wide Circuit Breaker Update

Date 05/04/2013

Effective Monday, April 8, 2013, Phase 1 of Limit Up-Limit Down (LULD) will begin for Tier 1 securities. The Phase 1 symbol rollout schedule is listed in the chart below. In addition, all Regulation NMS securities will become subject to the new Market-Wide Circuit Breaker (MWCB) rules on April 8, 2013.
Nigerian Bourse Set To Aid Emerging Businesses - Introduces Designated Advisers

Date 05/04/2013

The Nigerian Stock Exchange concluded another phase in its plans of nurturing the growth of small to mid-sized companies via the announcement of selected Designated Advisers (DAs) for companies listed on the Alternative Securities Market (ASeM). The fourteen Dealing Member firms selected included ARM Securities Limited, BGL Securities Limited, Capital Asset Limited, CardinalStone Securities Limited, EDC Securities Limited, Fidelity Securities Limited, and FSDH Securities Limited. Others were Investment One Stockbrokers International, Magnartis Finance & Investment Limited, Marina Securities Stockbroking Services, Morgan Capital Securities Limited, Partnership Investment Company Limited, Primera Africa Securities Limited and UBA Stockbrokers Limited.
Federal Open Market Committee Announces Tentative Meeting Schedule For 2014

Date 05/04/2013

The Federal Open Market Committee on Friday announced its tentative meeting schedule for 2014.