News Centre

CFTC To Hold Open Meeting To Consider Three Final Rules

Date 13/12/2011

The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Tuesday, December 20, 2011, at 9:30 a.m., on the following topics:

(1) Final Rule on Real-Time Reporting of Swap Transaction Data;

(2) Final Rule on Swap Data Recordkeeping and Reporting Requirements; and

(3) Final Rule on Effective Date for Swap Regulation.

CBOE Holdings Invests In Intellectual Property Exchange International

Date 13/12/2011

CBOE Holdings, Inc. (Nasdaq: CBOE) today announced its investment,through an affiliate, in the Intellectual Property Exchange International (IPXI), the first financial exchange focused on intellectual property. In addition, CBOE Executive Vice President Richard DuFour was named to IPXI’s board of directors.

Federal Reserve Issues FOMC Statement

Date 13/12/2011

Information received since the Federal Open Market Committee met in November suggests that the economy has been expanding moderately, notwithstanding some apparent slowing in global growth. While indicators point to some improvement in overall labor market conditions, the unemployment rate remains elevated. Household spending has continued to advance, but business fixed investment appears to be increasing less rapidly and the housing sector remains depressed. Inflation has moderated since earlier in the year, and longer-term inflation expectations have remained stable.

FIA PTG Letter on Defining High-Frequency Trading

Date 13/12/2011

The Commodity Futures Trading Commission is discussing how to define high-frequency trading at a meeting today of the CFTC’s Technology Advisory Group.  The meeting was organized by CFTC Commissioner Scott O’Malia, who issued a proposed definition of HFT a few weeks ago and asked for public comment.  The FIA Principal Traders Group responded to O’Malia’s request by submitting the attached letter.  In addition, several members of the FIA PTG are participating in today’s discussion. The main point that the FIA makes in the letter and in today’s presentations is that the CFTC’s regulatory concerns would be best served by tracking all automated trading systems.  This would avoid having to make arbitrary distinctions on how many trades would meet the definition of “high frequency.” In addition, this would allow the CFTC to leverage existing resources, such as the data already being collected by the major U.S. exchanges on orders submitted by automated trading systems.  More detail is in the attached letter.  For more information about the FIA PTG, including a list of members, please visit the FIA'S website athttp://www.futuresindustry.org/ptg/

SIFMA Market Close Recommendations For The Year End In The US, The UK And The Japanese Markets

Date 13/12/2011

In observance of the Year End holidays, SIFMA made holiday recommendations in U.S., U.K., and Japan.

CalPERS Earns $695 Million Profit As First GI Partners Fund Closes

Date 13/12/2011

The California Public Employees’ Retirement System’s (CalPERS) has earned a profit of approximately $695 million from its investment in GI Partners Fund I, a 10-year-old fund that closed after selling its last asset.

SIFMA Addresses High-Frequency Trading, Other Market Structure Issues And Presents Considerations For Regulatory Change In New White Paper

Date 13/12/2011

SIFMA today released a white paperaddressing “high-frequency trading” (HFT), a term that has become a catch-all for a number of different computer-based trading strategies.  The paper notes the lack of a clear definition for high-frequency trading, but seeks to address the concerns being raised by members of the public and other market participants regarding HFT.  The paper discusses current regulatory efforts to strengthen market structure, areas where regulators should conduct further study and possibly address through regulatory action, and regulatory proposals that SIFMA believes should not be pursued.

SEC Charges Options Trader For Illegal Short Selling Tactics

Date 13/12/2011

The Securities and Exchange Commission today charged an options trader in the Chicago area with violating short selling restrictions when he failed to locate and deliver the shares involved in short sales to broker-dealers and their institutional customers.

ESMA Launches A Consultation On Possible Delegated Acts Concerning The Prospectus Directive

Date 13/12/2011

The purpose of this consultation document from ESMA is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts.

Closing Remarks By President Of The European Commission José Manuel Durão Barroso At The EP Debate On The Conclusions Of The December European Council

Date 13/12/2011

Mr. President,

Honourable Members,

Many important issues were raised during this debate.

First of all, the issue of substance and form. I agree that in a community that is based on the rule of law form is important. That is why we in the Commission have done everything we could to get an agreement that could be considered compatible with the community method, agreement that could be signed by all the member states. I have to say that this was not only the position of the Commission and the President of the European Council. We presented that as the clear preference and it was the opinion of most of our member states.