News Centre

CFTC’s Office Of The General Counsel Issues Time-Limited, No-Action Relief For Compo Equity Total Return Swaps

Date 21/12/2012

The Commodity Futures Trading Commission’s (Commission) Office of the General Counsel (OGC) today issued a no-action letter providing time-limited relief from requirements arising from the Commission’s joint interpretation with the Securities and Exchange Commission that compo equity total return swaps are mixed swaps.

S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices - A Deletion From The S&P/TSX SmallCap Index

Date 21/12/2012

S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:

The shareholders of Queenston Mining Inc. (TSX:QMI) have accepted the terms of a Plan of Arrangement whereby the company will be acquired by Osisko Mining Corporation (TSX:OSK). Shareholders of Queenston Mining will receive 0.611 shares of Osisko Mining for every share held. Queenston Mining will be removed from the S&P/TSX SmallCap Index effective after the close of Friday, December 28, 2012. 

CFTC’s Division Of Clearing And Risk Issues No-Action Letter For Singapore Exchange Derivatives Clearing Limited And Its Clearing Members

Date 21/12/2012

The Commodity Futures Trading Commission’s (Commission) Division of Clearing and Risk (DCR) today issued a letter stating that DCR will not recommend that the Commission take enforcement action against Singapore Exchange Derivatives Clearing Limited (SGX-DC) for failing to register as a derivatives clearing organization (DCO) under section 5b(a) of the Commodity Exchange Act (CEA); and will not recommend enforcement action against SGX-DC’s clearing members for failing to register as futures commission merchants (FCMs) under section 4d(f)(1) of the CEA, in relation to the clearing and carrying of existing or new positions in certain commodity swaps for U.S. customers.

MIAX Fee Schedule 12/21/2012

Date 21/12/2012

Details are available in the full MIAX Fee Schedule at: http://www.miaxoptions.com/sites/default/files/circular-files/MIAX_RC_2012_13.pdf

CFTC’s Division Of Market Oversight Provides Additional Information Concerning Its Existing No-Action Relief (CFTC Letter No. 12-46) For Reporting Parties Regarding Legal Entity Identifiers And Certain Identifying Information

Date 21/12/2012

The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) today is providing additional information pertaining to its existing no-action relief for reporting parties under Parts 20, 45 and 46 of the Commission’s regulations (CFTC Letter No. 12-46 or Letter).

BATS 1000 Index Rose 1.3% This Week

Date 21/12/2012

BATS Global Markets, a leading operator of securities markets in the U.S. and Europe, reports the BATS 1000® Index (Ticker: BATSK) gained 208.64 points, or 1.3%, this week to close at 16,110.60 as of the 4 p.m. ET market close today. 

CFTC Approves Exemptive Order On Cross-Border Application Of The Swaps Provisions Of Dodd-Frank

Date 21/12/2012

The Commodity Futures Trading Commission (Commission) today approved an exemptive order providing time-limited relief from certain cross-border applications of the swaps provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and the Commission’s regulations. The purpose of the order is to foster an orderly phase in to the new swaps regulatory regime and to provide market participants greater certainty regarding their obligations with respect to cross-border swap activities. Under the exemptive order, a non-U.S. person that registers with the Commission as a swap dealer (SD) or major swap participant (MSP) may delay compliance with certain entity-level requirements adopted under the Dodd-Frank Act, and non-U.S. SDs and MSPs and foreign branches of U.S. SDs and MSPs may delay compliance with certain transaction-level requirements adopted under the Dodd-Frank Act (subject to specified conditions). The order also includes a definition of the term “U.S. person” which will apply for purposes of the order. The vote was conducted via seriatim, which was approved 4 to 1, with Chairman Gensler and Commissioners Chilton, O’Malia and Wetjen voting in favor and Commissioner Sommers voting against. The exemptive order expires on July 12, 2013.

CNSX And Pure Trading Christmas & New Year Holiday Schedule

Date 21/12/2012

Please be advised that CNSX and Pure Trading markets and offices will be closed for the following holidays.

Statement Of Support By CFTC Chairman Gary Gensler On Final Exemptive Order Regarding Compliance With Certain Swap Regulations And Further Proposed Guidance (Final Order)

Date 21/12/2012

I support the Final Exemptive Order Regarding Compliance with Certain Swap Regulations and Further Proposed Guidance (Final Order). With this Commission action another important step has been taken to make swaps market reform a reality.

SEC Charges Four Penny Stock Purchasers With Fraud

Date 21/12/2012

The Securities and Exchange Commission today charged four securities industry professionals with conducting a fraudulent penny stock scheme in which they illegally acquired more than one billion unregistered shares in microcap companies at deep discounts and then dumped them on the market for approximately $17 million in illicit profits while claiming bogus exemptions from the federal securities laws.