Hong Kong Exchanges and Clearing Limited (HKEx) and China Financial Futures Exchange (CFFEX) signed a Memorandum of Understanding (MOU) today (Wednesday) on cooperation and the exchange of information.
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EDHEC-Risk Institute Draws The French Governments Attention To The Inadvisability Of Imposing A Tobin Tax In France
In an open letter dated January 10, 2012 addressed to the French Prime Minister, which itself referred to a previous letter addressed to the European Internal Market and Services Commissioner, Michel Barnier, EDHEC-Risk Institute has underlined the difficulties and risks associated with implementing a tax on financial transactions in France.
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Trading Technologies' Platform Selected by Vision Financial Markets
Trading Technologies’ X_TRADER suite of algorithmic execution products will provide a range of new services for Vision, a self-clearing futures commission merchant with presence in a number of major US exchanges.
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Powernext Energy Savings: Launch Of The Organised Market For Energy Savings Certificates On 10th January 2012
Powernext launched the Energy Saving Certificate (in French “Certificats d’Economies d’Energie” or CEE) organised market on 10th January 2012. This launch follows a study made in close cooperation with the market actors since 2009. After a first phase of obligations (2006-2009) where the objective was largely exceeded without any heavy involvement of the market, the much more ambitious second phase (2011-2013) shows a greater development of the activity on the CEE secondary market.
Within this context, Powernext has launched an anonymous and secure multilateral spot trading platform to bring transparence and structure to a market still in its developing phase.
“We are glad to bring our expertise to the service of this ambitious challenge and to enroll Powernext in the crucial effort of protecting our environment”, asserts Jean-François Conil-Lacoste, CEO of Powernext.
This initiative allows the obligated actors (“obligés”) to comply with their regulatory requirements and the other actors to valorize their energy efficiency actions in optimal conditions. A price reference, calculated in a transparent manner from trades made on the market, is published after each trading session.
Powernext has designed a unique trading and payment/delivery system to adapt to a currently illiquid market and to actors with very different profiles.
The continuous trading process, based on Trayport technology, is organized in bi-monthly sessions of 3 hours each (2-5PM CET), thus facilitating meeting points between supply and demand in order to structure the trading of CEEs.
Transactions on Powernext Energy Savings are made within the context of a simple mechanism of prior verification of trading limits, thus preventing any purchase or sale without any funds, and result in a real time payment/delivery scheme from the CEE National Registry (EMMY) and a banking facility, in the framework of a “fiducie” (or trust fund).
“With Trayport technology already helping Powernext drive the spectacular success of their power and gas markets, we are very pleased to have our software at the heart of Powernext’s new Energy Savings Certificates market”, comments Phil Martin, Exchanges Client Manager, Trayport.
Five participants were present during the first session: Altergaz, B-ABA, CertiNergy, Poweo and SIPLEC. Other companies have started their membership process.
1000 MWh Cumac were traded during the very first session and the first published price reference is 4.45 €/MWh Cumac. The CEE measurement unit is the amount in MWh CUMAC (MWh of final energy, cumulated and present-worthed over the life of the product).
Powernext has signed a market making agreement with two members (B-ABA and CentiNergy) to enable the development and the smooth operation of the market.
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Open Meeting Of The Commodity Futures Trading Commission, Statement By Commissioner Bart Chilton
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UKs Financial Services Authority: Richard Joseph Charged With Insider Dealing
The Financial Services Authority (FSA) has charged Richard Anthony Joseph, with eight counts of insider dealing and two counts of money laundering.
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Opening Statement By Chairman Gary Gensler Before A Meeting Of The Commodity Futures Trading Commission
Good morning. This meeting will come to order. This is a public meeting of the Commodity Futures Trading Commission (CFTC) to consider final and proposed rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). I’d like to welcome members of the public, market participants and members of the media, as well as those listening to the meeting on the phone or watching the webcast to our first Commission meeting in 2012.
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Fundamental Interactions Inc Fast Proxy is Live with Complex Options
Fundamental Interactions Inc announces the production release of complex options support for both its Trading Appliance and Fast Proxy product offerings.
New York, NY (PRWEB) January 11, 2012
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Deutsche Boerse's NYSE deal seen heading for the rocks [Reuters]
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Athens Exchange Derivatives Market Monthly Statistical Bulletin - December 2011
Please click here to download the ADEX Monthly Statistical Bulletin for December 2011.
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Statement of Support by CFTC Chairman Gary Gensler
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Shenzhen Stock Exchange Successfully Attained The CMMI Level 3 Certification Again
Shenzhen Stock Exchange successfully passed the SEI CMMI Level 3 appraisal again on November 28, 2011, which further demonstrates that the Exchange has achieved the advanced level in securities industry in China in terms of software capability maturity and software process management.
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BM&FBOVESPA Announces 2011 Market Performance
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CBOE, C2, CFE, And CBSX Trading Schedule For Martin Luther King, Jr. Holiday
CBOE Holdings, Inc. (NASDAQ: CBOE) today announced the following trading schedules for Chicago Board Options Exchange (CBOE), C2 Options Exchange (C2), CBOE Futures Exchange (CFE) and CBOE Stock Exchange (CBSX) in observance of the Martin Luther King, Jr. Holiday; all times are Chicago time:
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Opening Statement At SEC Open Meeting: PCAOB Proposed Budget And Accounting Support Fee For 2012 By SEC Chairman Mary Schapiro
Good morning. This is an open meeting of the U.S. Securities and Exchange Commission on January 11, 2012.
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Opening Statement Of Commissioner Mark Wetjen For The CFTC Open Meeting On January 11, 2012
Thank you, Chairman Gensler. Thank you also to the professional staff for your hard work on the recommendations before us today. I appreciate your dedication to getting these regulations right and that you have remained open to public input and feedback from my office and others.
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Statement At Open Meeting To Approve PCAOB Budget By SEC Commissioner Luis A. Aguilar
The Public Company Accounting Oversight Board is tasked by Congress to oversee the audits of public companies, and broker-dealers, in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports.1 Today we consider the resources the PCAOB requires to fulfill its mission.
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Prohibitions And Restrictions On Proprietary Trading And Certain Interests In, And Relationships With, Hedge Funds - Statement Of CFTC Commissioner Scott D. OMalia, January 11, 2012
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Rapid Ratings Hires Legal And Financial Services Veteran To Lead Strategic Relations
Rapid Ratings, an independent ratings, research and analytics firm, today announced that Jeffrey Gibb has joined the company as Senior Vice President of Strategic Relations & Head of Legal Operations.
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What About MF Global? Statement Of CFTC Commissioner Scott D. OMalia
Today, the Commodity Futures Trading Commission (the “Commission”) is voting to finalize a rulemaking on protection of cleared swaps customer collateral.1 Whereas I support this rulemaking, I believe that it is important to detail its limitations, so that we do not offer market participants a misleading sense of comfort in light of the collapse of MF Global, Inc. (“MF Global”). As I will explain further, the Commission has much more work to do to increase confidence in the customer protections that our regulations offer.
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