News Centre

SEC Proposes Amendments To Modernize Shareholder Proposal Rule

Date 05/11/2019

The Securities and Exchange Commission today voted to propose amendments to modernize the rule that governs the process for shareholder proposals to be included in a company’s proxy statement.

Nodal Exchange Achieves Record Trading Volume And Open Interest In Both Power And Environmental Futures With Strongest Month Ever

Date 05/11/2019

Nodal Exchange achieved a new monthly trading record in monthly power futures with a total volume of 231 million MWh in October 2019 (notional value of $7.5 billion per side) and a 44% market share of traded volume.  This represents an 84% growth rate over October 2018 and the 15th consecutive month of record calendar month trading volume in power futures.  Nodal Exchange continues to improve its strong position in the North American monthly power futures markets achieving a record 44% market share of open interest as of October 31, 2019.

Statement Of CFTC Commissioner Dan M. Berkovitz On The Commission’s Orders Of Registration For The European Energy Exchange, Euronext Amsterdam, And Euronext Paris

Date 05/11/2019

I support the Commission’s Orders of Registration to permit the European Energy Exchange (“EEX”), Euronext Amsterdam N.V., and Euronext Paris SA to offer direct access to their members and market participants in the United States.[1]  Section 4(b) of the Commodity Exchange Act (“CEA”) and part 48 of the Commission’s regulations require a determination that the foreign board of trade (“FBOT”) and its clearing organization are subject to comparable and comprehensive regulation in their home jurisdictions.  FBOT registration is subject to conditions specified in the Commission’s rules, and to any additional terms and conditions set forth in the Order of Registration.[2]  Once registered, an FBOT can offer its products directly into the U.S. market without having to register as a designated contract market, and without having to clear through a registered derivatives clearing organization.  These valuable commercial benefits are a direct result of the Commission’s ability to rely on the comparable and comprehensive regulation of overseas exchanges and clearing organizations in their home countries.

Intercontinental Exchange Reports October Statistics: Futures And Options Open Interest Up 8% Y/Y And Up 17% From Year-End 2018

Date 05/11/2019

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today reported October trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at http://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.

SEC Proposes Rule Amendments To Improve Accuracy And Transparency Of Proxy Voting Advice

Date 05/11/2019

The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy solicitations to enhance the quality of the disclosure about material conflicts of interest that proxy voting advice businesses provide their clients. The proposal would also provide an opportunity for a period of review and feedback through which companies and other soliciting parties would be able to identify errors in the proxy voting advice. The review and feedback period would only be available to companies that file definitive proxy materials 25 days or more in advance of the relevant meeting. The Commission’s proposal aims to enhance the accuracy and transparency of the information that proxy voting advice businesses provide to investors and others who vote on investors’ behalf, and thereby facilitate their ability to make informed voting decisions.

Cboe Global Markets Reports October 2019 Trading Volume - European Equities ADNV Up 5.7% Over September 2019 Global FX ADNV Up 4.3% Over September 2019

Date 05/11/2019

Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today reported October monthly trading volume.

Statement At The Open Meeting: Procedural Requirements And Resubmission Thresholds Under Exchange Act Rule 14a-8, SEC Commissioner Elad L. Roisman, Nov. 5, 2019

Date 05/11/2019

Thank you, Chairman Clayton. 

As you mentioned, Rule 14a-8, our shareholder proposal rule, allows a shareholder who meets certain eligibility criteria to have his or her proposal included in a company’s proxy statement and put to a shareholder vote.  Without this rule, a shareholder seeking to force a vote on a proposal would have to pay for his or her own proxy solicitation, in compliance with the federal proxy rules, a process that can be expensive and difficult to navigate for the inexperienced. 

Dissenting Statement By CFTC Commissioner Brian Quintenz Before The Open Commission Meeting Of November 5, 2019

Date 05/11/2019

Today, the Commission is considering whether to formally register as foreign boards of trade (FBOTs) three prominent European futures exchanges (Euronext Amsterdam, Euronext Paris, and European Energy Exchange) that have been permitted to directly access the U.S. market for many years under staff no-action relief.  Both the Commission’s previous policy of granting no-action relief and current policy of registering foreign exchanges as FBOTs are premised on a policy of deference to foreign regulatory regimes.  The Commission assesses whether foreign exchanges are regulated comparably to how the CFTC supervises U.S. designated contract markets (DCMs), and, if so, permits the exchange to access U.S. markets without complying with the Commission’s DCM regulations or being subject to regularly scheduled CFTC examinations.[2]  This policy efficiently promotes cross-border markets and rationally focuses the Commission’s supervisory resources on U.S. exchanges.  While I do not disagree with the substance of granting these exchanges permanent status as registered FBOTs, I do disagree with the timing of today’s move by the Commission to finalize and formalize the status of these three European exchanges as registered FBOTs.

Statement Of SEC Chairman Jay Clayton On Proposals To Enhance The Accuracy, Transparency And Effectiveness Of Our Proxy Voting System

Date 05/11/2019

Good morning.  This is an open meeting of the U.S. Securities and Exchange Commission, under the Government in the Sunshine Act.

EEX Publishes 2020 Auction Calendar For Aviation Allowances (EUAA)

Date 05/11/2019

The European Energy Exchange (EEX) has supplemented the auction calendar for the year 2020 with the auctions for EU aviation allowances (EUAA). The respective dates were fixed in coordination with the European Commission and the participating Member States as well as with the responsible German and Polish authorities.