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Numis Securities Selects GL RIMS ASP Solution

Date 06/07/2005

GL TRADE, global provider of electronic trading, clearing and settlement solutions announces that its Settlement and Back Office division has signed with Numis Securities to provide the full GL RIMS back office solution. Numis Securities is a rapidly growing investment bank providing a full range of corporate finance, institutional stock broking, market-making and research services.
NASD Fines Hornor, Townsend & Kent, Inc. $325,000 For Improper Sales Contests, Email And Supervision Violations - Firm Ordered To Prohibit Variable Product Sales Contests For Three Years

Date 06/07/2005

NASD announced today that it has fined Hornor, Townsend & Kent, Inc. (HTK), of Horsham, PA, $325,000 for conducting prohibited sales contests for its brokers and managers, as well as for email and supervision violations. The contests violated NASD rules by awarding exclusive or greater weight to the sales of proprietary variable life and variable annuity products over non-proprietary products, thereby creating improper incentives for brokers to sell those products instead of focusing on the inve
Investable Weight Factor Changes For Mediobanca SPA And Enel SPA In The S&P European Indices

Date 06/07/2005

Standard & Poor’s will make the following changes in the S&P Europe 350, S&P Euro Plus and S&P Euro indices effective after the close of trading Friday, July 08, 2005: Mediobanca SPA (Italy, SEDOL: 4574813, GICS: Financials, GICS Code: 40203020), a member of the S&P Europe 350, S&P Euro Plus and S&P Euro indices, Investable Weight Factor will change from 0.6988 to 0.7565. This is following the change in holdings by the existing shareholders. Unicredito Italiano, Capitalia and Consorti
Hong Kong Futures Exchange: Margin Rates Set For Futures Contracts On Denway Motors Limited And Esprit Holdings Limited

Date 06/07/2005

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited, has set margin rates for futures contracts on Denway Motors Limited and Esprit Holdings Limited, which will be introduced on Monday, 11 July 2005.
FTSE Group Licenses SMBC Friend To Use FTSE Hedge Index

Date 06/07/2005

FTSE Group, the global index provider, announces today that it has issued a licence to leading Japanese financial services group, SMBC Friend, to use the FTSE Hedge Index Series as the basis for its fund aimed at the Japanese retail market.

FORTS: Open Interest For Moscow City Bond Futures Contracts Exceeds 1 Billion Rubles

Date 06/07/2005

On July 5 th , 2005, open interest for the futures contract on the three-year Moscow City bond basket exceeded 1 billion rubles (100 thousand contracts) and amounted to 10.3% of the total open interest for futures on FORTS, the derivatives segment of the RTS Stock Exchange. Trading volume in the futures contract reached 5 million rubles or 489 contracts.
Financial Services: European Commission Launches Of Securities Directives

Date 06/07/2005

The European Commission has published a “Lamfalussy league table” on Member States’ success in meeting deadlines for writing into national law a series of securities Directives that were adopted as part of the Financial Services Action Plan (FSAP) launched in 1999. The league table shows that 20 Member States did not fully implement the prospectus Directive (2003/71/EC) before the deadline of 1 July 2005, which could disrupt the smooth introduction of the "single passport for issuers
Euronext.liffe Commodity Products Achieve Record Half Year Volumes

Date 06/07/2005

Euronext.liffe’s Commodity Products portfolio continues to show impressive growth, with overall volumes up 13% when compared to the same period last year. In total some 4,358,663 contracts have been traded in 2005, an increase of half a million contracts over the first half of 2004, which was itself a record volume year.
Eurex To Extend Trading Hours To 3 p.m. Chicago time (10 p.m. CET)- Ferscha: “We Are Optimizing Distribution In The U.S. Market” - Approval By Exchange Council For Extended Trading Hours From November 21, 2005

Date 06/07/2005

As of November 21, the derivatives exchange Eurex will be extending the trading day for its benchmark products to 3.00 p.m. Chicago time (10.00 p.m. CET). The new trading hours will apply for Euro fixed income products as well as equity index futures, including the globally traded benchmark products Euro-Bund, Euro-Bobl and Euro-Schatz, as well as futures on the DAX and Dow Jones Euro STOXX indices. Until now, fixed-income products have been traded until 7.00 p.m. CET and index futures until 8.0
Ellen Neely Named President Of The Chicago Stock Exchange

Date 06/07/2005

The Chicago Stock Exchange Inc., announced today the promotion of Ellen Neely to President and General Counsel of the Exchange. Ms. Neely had served six years as the Exchange's General Counsel, most recently playing a lead role in implementing the demutualization of the Exchange. As President, Ms. Neely will be charged with overseeing the implementation of the Exchange's new trading model that was approved by the Board of Governors on June 17, 2005. That model will incorporate the best of exchan