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Securities Industry Association: SEC Short-Sale Pilot Is ‘Thoughtful, Prudent’ Approach To Phasing In Reforms To Benefit Investors

Date 23/06/2004

Today’s decision by the Securities and Exchange Commission to launch a pilot program in which a group of stocks would be free of existing short-sale trading restrictions is a “thoughtful, prudent” approach to phasing in reforms to protect investors, the Securities Industry Association today said.
Securities Industry Association Testifies On Basel II Accord

Date 23/06/2004

Michael Alix, chair of the Securities Industry Association’s Risk Management Committee and senior managing director, Bear Stearns & Co., Inc., testified before the House Financial Services’ Subcommittee on Financial Institutions and Consumer Credit about the benefits of the Consolidated Supervised Entities regime as proposed in the Basel Committee on Banking Supervision’s new Capital Accord (or “Basel II”). The CSE f
SEC Adopts Changes To Short Sale Rules, Disclosures Regarding Advisory Contract Approval And Investment Company Governance Provisions

Date 23/06/2004

The Securities and Exchange Commission today voted to adopt changes to its rules regarding short selling; its requirements for disclosures by investment companies concerning board approval of advisory contracts; and its investment company exemptive rules, designed to improve fund governance practices.
S&P Announces Changes To S&P U.S. Indices

Date 23/06/2004

Standard & Poor’s will be making changes to the S&P 500, S&P 100, S&P MidCap 400 and S&P SmallCap 600 indices.
Nymex To List PJM Monthly Electricity Futures Through 2007

Date 23/06/2004

The New York Mercantile Exchange, Inc., will list a fourth year of trading in the PJM monthly electricity futures contract, beginning tomorrow at 3:15 PM on NYMEX ClearPortsm for Friday's trading session.

NASDAQ Closing Cross Used To Calculate Russell Indexes - Russell Hosts NASDAQ Market Open Ceremony To Mark Occasion

Date 23/06/2004

The Nasdaq Stock Market, Inc. (NASDAQ®) and Russell Investment Group today announced approximately 1,700 NASDAQ securities are now included in the NASDAQ Closing Cross, which will be used in the calculation of the entire family of Russell indexes during their annual reconstitution on June 25. The Russell indexes contain 98-percent of the market capitalization of all publicly-traded companies in the U.S. and assets indexed to Russell indexes have grown more than 186-percent over the past five yea
Kristina Schauman New Chief Financial Officer Of OMHEX

Date 23/06/2004

OMHEX has today appointed Kristina Schauman as new Chief Financial Officer (CFO) of OMHEX. Kristina will replace Per Nordberg, who will leave the company to become Executive Vice President and CFO of Sandvik AB.
India-Treatment Of Larsen & Toubro’s Demerger And Share Capital Restructuring (eff. 06/23/2004) - Korea – Dacom Corp. Share Decrease (eff. 07/07/2004) - MEXICO: Telmex – L Share Increase

Date 23/06/2004

Larsen & Toubro’s Demerger And Share Capital Restructuring (eff. 06/23/2004) Larsen & Toubro Ltd. (Sedol B0166K8/EMDB Code 534510.1), an S&P/IFCG and S&P/IFCI India constituent, resumed trading on June 23, 2004. As a result, S&P/EMDB will adjust the index on the same day for the demerger and share capital restructuring not recognized previously due to the suspension of the stock. (Please refer to announcement posted on May 19, 2004.) For keeping the index impact neutral on this da
Gemstar-TV Guide International Agrees To Settle SEC Enforcement Action Charging The Company With Overstating Its Revenues

Date 23/06/2004

The Securities and Exchange Commission today filed a complaint in federal court in Los Angeles charging Gemstar-TV Guide International, Inc. with improperly reporting its highly touted interactive program guide licensing and advertising revenues in its financial statements from 1999 through 2002.
Equity Option On Postbank Tradable On Eurex As Of June 24 - Investor Interest In Equity Options Growing Constantly

Date 23/06/2004

Equity options on Deutsche Postbank AG will be tradable on the international derivatives market Eurex as of June 24. The options on Postbank have a contract size of one hundred shares and a maximum maturity of up to 12 months. Postbank has been listed in the Prime Standard of the Frankfurt Stock Exchange since June 23, 2004.