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UK’s Futures and Options Association Says Best Execution Flexibility Is Critical For Dealer Markets

Date 05/09/2006

The Futures and Options Association (FOA) urges the FSA to copy-out MiFID’s “principles-based” approach to best execution and allow firms the discretion to determine the process and the factors relevant to measuring the quality of execution in dealer markets. It also challenges the primacy given by FSA to price “benchmarking” as a preferred methodology when there are more appropriate means of measuring price in certain markets.
UK’s Financial Services Authority Appoints Senior Advisor To Markets Division

Date 05/09/2006

The Financial Services Authority has today appointed Bay Green, currently vice chairman of Dresdner Kleinwort, to its panel of senior industry experts. This panel consists of industry practitioners appointed by the FSA to share their experience and expertise with its supervisors.
The Nordic Exchange Welcomes Melker Schörling To First North In Sweden

Date 05/09/2006

Trading in Melker Schörling shares will commence today on First North in Sweden. Including Melker Schörling, First North now comprises 64 companies in Sweden and Denmark.
Tehran Stock Exchange: Privatization Policy Supported By The Supreme Leader

Date 05/09/2006

Major policies and strategies mentioned in Para “C” of Article 44 of the Constitution clarified by the Iranian Supreme Leader are as follows: Changing the government role from direct management in firms to policymaking, leadership and supervisory roles. Strengthening private & cooperative sectors in economy and supporting them to compete domestic commodities in international markets. Preparing domestic firms in order to a wisely interact with global trading regulations on a
SWX Swiss Exchange Issues Reprimand Against Advanced Digital Broadcast Holdings SA

Date 05/09/2006

The SWX Swiss Exchange has issued a reprimand with publication against Advanced Digital Broadcast Holdings SA, Bellevue (Geneva), for violation of certain provisions of the Listing Rules. The SWX reprimand pertains to the violation of deadlines for the disclosure of management transactions under Article 74a of the Listing Rules (LR), as well as to a violation of the duty incumbent on the issuer to provide information and cooperate under Article 4 of the Listing Rules.

STOXX Ltd. Launches Index Family To Track IPOS In Europe

Date 05/09/2006

STOXX Ltd., the leading European index provider, today launched three new indexes that cover Initial Public Offerings (IPOs) in Europe. The Dow Jones STOXX IPO Indexes measure the performance of the European IPO market in three different time horizons — 3, 12 and 60 months — based on the duration a component remains in the respective index.
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index

Date 05/09/2006

Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, September 5, 2006: Mega Uranium Ltd. (TSXVN:MGA) will be removed from the index. The company will graduate to trade on the TSX under the same ticker symbol.
SEC Sues Oil And Gas Promoters, Issues Investor Alert - Commission Seeks Return Of Ill-Gotten Gains And Appointment Of Receiver

Date 05/09/2006

The Securities and Exchange Commission today filed fraud charges against two securities promoters who fraudulently raised $2.2 million through sales of oil and leases to at least 70 investors nationwide. In announcing the charges, the SEC also issued an investor alert available at http://www.sec.gov/investor/pubs/oilgasscams.htm warning investors to beware of solicitations that prey on fears of higher oil and gas prices.
Postbank Replaces Schering In DAX - Deutsche Börse Decides On Changes To Equity Indices - Changes Are Effective On 18 September

Date 05/09/2006

On Tuesday, Deutsche Börse has decided on changes in its equity indices DAX®, MDAX®, SDAX® and TecDAX®. The changes will be effective on 18 September. Postbank will be included in the DAX index replacing Schering. Schering will be taken out of DAX on the basis of the so-called fast-exit rule, which sets a 45th-place ranking in market capitalization or exchange turnover as the cutt-off for an index adjustment.
NYSE Member Firms Report Second-Quarter 2006 Results

Date 05/09/2006

New York Stock Exchange member firms that conduct business with the public reported second-quarter 2006 after-tax profits of $2.95 billion and revenues of $78.64 billion, compared to $1.13 billion in after-tax profits on revenues of $53.32 billion in the second-quarter of 2005. For the second quarter of 2006, NYSE specialists reported after-tax profit of $26 million. During the same period last year, the specialists reported an after-tax profit of $33 million. Total specialist revenue in the s