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MiFID II – The Best Thing That Ever Happened? - Posted By Steve Grob, Director Of Group Strategy At Fidessa, On Thursday, June 8, 2017

Date 08/06/2017

So, if you’re planning to attend any kind seminar on what you need to do for MiFID II over the next few months, forget it and go to the movies instead. You’re simply too late and whatever plans you have (or have not) put in place will just have to do as there are only 6 months left to go. The more important questions concern how regulators will interpret and enforce the new rules and, crucially, which business models will thrive in the new environment? As to the first, I think there may be a glimmer of hope and we can expect to see more carrot than stick. The thinking behind this is that ESMA wants to change behaviour and market structure rather than put everyone in jail. Having said that, there is nothing like a screechy headline trumpeting a compliance failure to hold the industry’s feet to the fire.

Moscow Exchange Indices Monthly Review: May 2017

Date 08/06/2017

In May, Moscow Exchange"s Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 5.77% to 1,900.38 (from 2,016.71 on 28 April), while the dollar-denominated RTS Index fell 5.49% to 1,053.30 (from 1,114.43).

Russian Issuers To Submit Data To NSD Via Authorized Information Agencies

Date 08/06/2017

National Settlement Depository (NSD), Russia’s central securities depository, announces the launch of the “One Stop Shop” technological agency scheme to disclose corporate information. The agency scheme has been developed by NSD with the support of the Bank of Russia, and in conjunction with leading Russian and foreign record keeping institutions. The scheme will implement the “One Stop Shop” principle with regard to information disclosure in the Russian market in accordance with the Bank of Russia’s Regulations №454-P and №546-P; it assumes the creation of services for receiving, structuring, and distributing corporate data via agencies authorized to disclose information by the Bank of Russia.

MGEX Reports 3rd Top 10 Volume Day In The Last Week

Date 08/06/2017

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reports a total volume of 22,447 from Wednesday, making it the 8th-best volume day.

Testimony Of J. Christopher Giancarlo Acting-Chairman, Commodity Futures Trading Commission Before The U.S. House Of Representatives Committee On Appropriations Subcommittee On Agriculture, Rural Development And Related Agencies

Date 08/06/2017

As Prepared for Delivery

Good morning, Chairman Aderholt, Ranking Member Bishop and members of the Subcommittee. Thank you for the opportunity to testify on the Commodity Futures Trading Commission (“Commission” or “CFTC”) FY 2018 Budget Request.

For more than 100 years, farmers and ranchers have used listed derivatives markets to hedge their costs of production and delivery price so that Americans can always find plenty of food on grocery store shelves. But derivatives markets are not just beneficial for agricultural producers. They influence the price and availability of heating in American homes, the energy used in factories, the interest rates borrowers pay on home mortgages and the returns workers earn on their retirement savings.

FINRA Issues Research On Securitized-Asset Liquidity

Date 08/06/2017

The Financial Industry Regulatory Authority (FINRA) Office of the Chief Economist today posted a new Research Note on liquidity in structured products, complementing an earlier report on corporate-bond liquidity.

HKEX: Margin Rates For The Hong Kong And China Gas Company Limited After Capital Adjustment

Date 08/06/2017

As previously advised in the circular (Ref.: MO/DT/037/17) dated 17 March 2017, capital adjustments as a result of the bonus issue will be made to the positions of The Hong Kong and China Gas Company Limited (“HKG”) Futures Contracts which exist after the market close on 8 June 2017, i.e. the business day immediately before 9 June 2017.

State Street Provides Market Commentary On European Central Bank’s Monetary Policy Meeting

Date 08/06/2017

In reaction to the European Central bank (ECB) meeting today, Timothy Graf, head of macro strategy at State Street Global Markets; and Antoine Lesné, EMEA head of ETF strategy at SPDR ETFs, part of State Street Global Advisors, offer their views.

ECB Monetary Policy Decisions

Date 08/06/2017

At today’s meeting, which was held in Tallinn, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.

The UAE's Securities & Commodities Authority Approves The First Clearing Member

Date 08/06/2017

The Securities & Commodities Authority (SCA) issued to Emirates NBD the approval required to pursue the clearing activity and act as a “General Clearing Member" in the local financial markets. Emirates NBD is the first entity to receive this approval in the financial markets in the United Arab Emirates after meeting the conditions and requirements set by the SCA.