Industry news

September 7, 2012: CME Europe Plans to Add Currency Options at London Venue; Asia calls for harmony on Dodd-Frank rules; NYSE and CME plan futures ‘kill switches’

CME Group continues to issue new information about its planned London exchange; the exchange will trade currency options along with its previously-announced futures contracts.  Asia joins Europe in putting pressure on the U.S. to work internationally for regulatory harmony, rather than attempting to outright impose its homegrown regulatory structure on other countries.  ICAP’s Traiana announces a service to filter out-of-limit transaction parameters and implement a market kill switch, and both NYSE and CME sign on to the idea in hopes of restoring badly damaged investor confidence.

First Read

Lightning Fast: Social media and Chicago’s financial markets
The Chicago Tribune’s Andrea Hanis leads a discussion with financial traders who use social media to find camaraderie, react to breaking news and educate themselves about trends that may impact their trading. In a drought, urban traders could immediately connect with farmers via social media for real-time updates. The virtual town square convened over the collapse of MF Global and the travails of social media stocks Facebook, Groupon and Zynga. The high-stakes trading world amplifies the impact of social media — and now outsiders can catch a glimpse.
http://jlne.ws/ReNLgk

****Jon Najarian, Thomas Grisafi, Diane Saucier and James Koutoulas join Andrea Hanis on Wednesday, September 26 at the Chicago Tribune from 5 to 6:30 PM.

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WILD New York
Women Only Invitation: Join us for drinks & dessert after the FIA/OIC Equity Options Conference Opening Reception

WHO: Women in listed and OTC derivatives (You don’t have to attend the conference to join us!)
WHAT: An opportunity to catch up with the women of WILD over beer, wine and yummy desserts

WHEN: Wednesday, September 12, 2012
8:00 pm – 9:30 pm

WHERE Aspen Social Club
157 West 47th Street
(between Sixth and Seventh Avenues)
New York, NY 10036
Map & Directions

RSVP Please RSVP here by September 10, 2012

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ROGOFF: Financial Regulation Is An Arms Race That The Government Can Not Win
Business Insider
CAMBRIDGE – People often ask if regulators and legislators have fixed the flaws in the financial system that took the world to the brink of a second Great Depression. The short answer is no.
jlne.ws/Q8VKaZ

**** He makes a good point about the complexity of regulation.  Here is why complexity in regulation is bad and quite frankly wrong.  It is anti-democratic.  If the public can’t easily understand the laws, how can they render justice when cases are brought before a court of law and a jury of peers?  And if the public can’t comprehend the law to render justice, there is no justice.

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Financial News 40 Under 40 Rising Stars of Trading and Technology
Profiles by Michelle Price, Tom Osborn, Tim Cave, Rebecca Hampson and Yasmine Chinwala
This is the second FN 40 Under 40 Rising Stars of Trading and Technology, our editorial pick of the brightest up-and-coming men and women in the industry.
jlne.ws/Q8VIQu

***** Congrats to FFastFill CEO Hamish Purdey for making the list this year.

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MEP Kay Swinburne video interview on US & European regulations
TabbFORUM
MEP Kay Swinburne (Economic and Monetary Affairs Committee), in New York this week for a conference, sat for a video interview for TabbFORUM conducted by Will Rhode, TABB Group principal and director of fixed income research. During the 10-plus minute discussion, Swinburne discusses how US European regulations will fit and what the tapestry of global regulations will look like. The video can be seen now at jlne.ws/Q8VIQv or as of 1:00am ET via broadcast at TabbFORUM.com.

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BATS Global Markets Achieves New U.S. Equities Market Share Record
BATS Global Markets (BATS),a leading operator of securities markets in the U.S. and Europe, today reported August U.S. equities market share of 12.8%, the best monthly market share performance in the company’s six-year history. Much of the growth was driven by the company’s BYX Exchange, which set a monthly market share record of 3.7% less than two years since its October 2010 inception.
jlne.ws/OpOabk

**** BATS average goes up.

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HFT lobby group doubles in size
Tim Cave – Financial News
The trade body for Europe’s high-frequency trading firms has doubled its membership base in little over a year, as it establishes itself as a powerful lobbying force with Brussels regulators considering new rules for the sector.
jlne.ws/Q8VKri

**** They are down to 10 nanoseconds to process a membership application.

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Investment banks eye Europe job cuts
Daniel Schäfer in London – FT.com
Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation.
jlne.ws/Q8VKrj

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The Most Bizarre Bell-Ringers At The New York Stock Exchange (PHOTOS)
Huffington Post
For some, receiving an invitation to mark the 9:30AM opening or 4:00PM closure of daytime stock trading symbolizes a lifetime of corporate achievement. For others, it means you spent the summer getting wasted on the Jersey Shore.
jlne.ws/P53ME2

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Nadex Again Co-Sponsors NIBA Conference in Chicago
The North American Derivatives Exchange (Nadex) – the first and only fully regulated retail-focused futures exchange in the United States – announced today that it will once again be co-sponsors of the upcoming NIBA (National Introducing Brokers Association) Sales and Marketing Conference to be held September 12, 2011 at the UBS Tower in downtown Chicago.
jlne.ws/Q8VJ6P

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OIC Announces Equity Options Seminar Lineup For Fall 2012
The Options Industry Council (OIC) announced its seminar schedule for the fall season. Seminars are tailored to meet investors’ knowledge and skill level and focus on options basic, ETFs, intermediate, volatility and advanced topics. These seminars are free and taught by experienced instructors from the different options exchanges and OIC professionals in a classroom-style setting with the aim of educating investors and financial advisors on the responsible use of options. The seminars run from 6-9 p.m. and advanced registration is required.
jlne.ws/Q8VJ6T

MarketsWiki.tv

Eirvin Knox of Ambata Capital Partners Discusses Managed Funds in the Middle East
MarketsWiki.tv
Eirvin Knox has been the in the international banking business for more than 30 years, spending the past decade in the Middle East, as CEO of Abu Dhabi Commercial Bank. He spoke with JLN Managed Futures editor Jim Kharouf at the 2012 Emerging Managers Forum about the Middle East’s investment climate, and what it takes to attract investment from customers in that region. Knox currently serves as CEO of Ambata Capital Middle East, a division of the global investment and advisory firm, Ambata Capital Partners and non-executive director of Banque Havilland.
jlne.ws/O8Fnio

JLN Interest Rates

ECB Unveils Bond-Buying Program
WSJ.com
The European Central Bank unveiled its most aggressive plan to date to deal with Europe’s nearly three-year-old debt crisis, promising open-ended purchases of short-maturity government bonds to keep borrowing costs down for Spain, Italy and other struggling countries.
jlne.ws/P3ysFF

ECB cuts growth forecasts, see only gradual recovery
Reuters
The euro zone economy will probably contract more than previously expected this year, according to new European Central Bank staff forecasts which also raised the bank’s outlook for inflation for 2012/2013.
jlne.ws/Rdv6ll

The ECB’s OMT monetisation is for banks as much as sovereigns
Credit Writedowns – Edward Harrison
Here are my first quick reactions to the ECB’s new monetisation scheme. They have decided to buy bonds on the secondary market in potentially unlimited quantities up to three-year maturities for countries that submit to a Troika program. The bonds they buy will be pari passu with bonds held by private investors. And the purchases will supposedly be sterilized.
jlne.ws/Q6YYvJ

MarketsWiki

MarketsWiki Page of the Day
Alan van Griethuysen
jlne.ws/Ts5W1i

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MarketsWiki Recent Updates

People

Justin Schack; Mark Gardner; Ina Drew; Craig Delany; John J. Lothian; Alan van Griethuysen; Steven Crutchfield

Companies, Organizations and Groups

Futures Industry Association; CME Group, Inc.; Trading Technologies International Inc.

Miscellaneous

Conferences Calendar; Upcoming Events; 1910 Annual Report of Chicago Board of Trade; 1920 Annual Report of Chicago Board of Trade; 1871 Annual Report of Chicago Board of Trade; 1877 Annual Report of Chicago Board of Trade; 1869 Annual Report of Chicago Board of Trade

Statistics

28,087,993 pages viewed, 7,099 articles, 147,212 edits
MarketsWiki Statistics

Lead Stories

CME Europe Plans to Add Currency Options at London Venue
Bloomberg
CME Group Inc. , which plans to open a derivatives market in London next year for currency futures, will add foreign-exchange options as it expands the service.
jlne.ws/UuvcUf

Asia calls for harmony on Dodd-Frank rules
Jeremy Grant – FT.com
Ever since regulators in the US started fleshing out the details of how to implement the landmark Dodd-Frank Act – the most sweeping financial market reform in decades – Europe has frequently complained about how the law might apply across the pond. Now it’s Asia’s turn to cause a stir.
jlne.ws/Q8VJ6Y

NYSE and CME plan futures ‘kill switches’
Philip Stafford – FT.com
Two of the world’s largest derivatives exchanges have signed on to a service with a “kill switch” to limit damage from errant trading by algorithms, as futures bourses look to bolster investor confidence in their markets.
jlne.ws/Q8VJne

Traiana expands real-time risk management initiative to exchange traded derivatives
Press Release
Traiana, the leading provider of post trade solutions, announces today that it has expanded its Harmony CreditLink initiative with the addition of real-time limit monitoring and a Killswitch capability for exchange traded derivatives.
jlne.ws/Q8VKrw

Peregrine Financial Group Trustee Seeks to Return $123M in Customer Funds
By Jacob Bunge – Dow Jones
The trustee unwinding Peregrine Financial Group Inc. late Wednesday outlined a plan to return more than $120 million to customers of the defunct brokerage, nearly two months after its collapse.
jlne.ws/Q8VJng

Peregrine Debacle Takes Toll
WSJ.com
Plans to return some funds held by collapsed brokerage Peregrine Financial Group Inc., nearly two months after the firm’s bankruptcy filing, come too late to repair some of the reputational damage to the futures industry.
http://jlne.ws/P0QQvu

Investors Expect Libor to be Replaced Within Five Years
Bloomberg
A key interest rate for more than $500 trillion of securities worldwide will be replaced by a benchmark subject to greater government control, according to a plurality of global investors.
jlne.ws/Q8VKHQ

Economist Sinn Rattles Merkel Laboring to Save Euro
Bloomberg
Dressed in his customary gray three- piece suit at a conference in Frankfurt on June 15, Hans-Werner Sinn folds his hands and listens without expression as a series of speakers criticize his economic theories. Willem Buiter, chief economist at Citigroup Inc., goes so far as to decry them as “nonsense.”
jlne.ws/Q8VJnm

Greek Decline Sharper Than Expected
ILONA BILLINGTON – WSJ.com
The Greek economy contracted at a faster pace than previously estimated, confirming the country remains mired in recession as government spending and exports both fell, data from Greek statistics agency Elstat showed Friday.
jlne.ws/Q8VKHZ

The weakest will win in the euro battle
John Plender – FT.com
In the age-old battle between creditors and debtors, weak sovereign borrowers and overstretched banks more often than not triumph over financially strong creditors. Look no further than the unfolding eurozone saga for confirmation of this rule. Indeed the latest European Central Bank initiative to buy distressed eurozone sovereign debt through so-called outright monetary transactions perfectly illustrates how the illusion of creditor power is progressively being stripped away.
jlne.ws/Q8VJnp

Swap Traders Voice Opposition Over CFTC’s Call for Audio Records
Bloomberg Businessweek
The U.S. Commodity Futures Trading Commission, facing resistance from agricultural and energy firms, is struggling to reach consensus on when traders must keep audio records that could be used in enforcement cases.
http://jlne.ws/UxwVrS

Regulatory

SEC Reschedules Date of Market Technology Roundtable
The Securities and Exchange Commission today announced that its market technology roundtable, which was scheduled for Sept. 14, will be held on Oct. 2. The change was made to accommodate scheduling conflicts and to better respond to strong interest from individuals and groups wishing to participate in the roundtable discussion.
jlne.ws/Q8VKYp

Russia Mulls ‘Mega Regulator’
Dow Jones
The Russian government has decided to consider creating a “mega-regulator” for financial markets by combining the Federal Financial Markets Service with the central bank, the newspaper Kommersant reports.
jlne.ws/Q8VJDN

Analysis: New York AG’s private equity probe may have little bite
Reuters via Yahoo! News
New York state attorney general Eric Schneiderman’s investigation of the private equity industry’s tax practices may have attracted a lot of publicity in recent days, yet it’s uncertain whether it will result in big financial settlements.
jlne.ws/Q8VJDP

UK moves to safeguard client assets
Brooke Masters, chief regulation correspondent – FT.com
The UK’s City watchdog has announced “the most radical changes in 20 years” to the rules for protecting client assets in an effort to head off the embarrassing legal wrangling that has delayed the return of money to clients of failed firms MF Global and Lehman Brothers.
jlne.ws/Q8VJDR

Exchanges & Trading Facilities

NASDAQ OMX Norwegian Market Share Hits All Time High Of 14.5 %
jlne.ws/Q8VJDU

NASDAQ OMX August 2012 Volumes
jlne.ws/Q8VJDX

BM&FBOVESPA Announces August Market Performance
Financial Volume: Highest BOVESPA segment financial volume since August 2011; ETFs: Financial volume grows 34% in August in the 14 ETFs traded on the Exchange; BTC: Securities Lending financial volume grows more than 20% from previous month; FIIs: Financial volume grows over 20% and number of trades over 37% in Real Estate Funds (FIIs) in August from July
jlne.ws/Q8VKYs

LJSE Monthly Statistical Report August 2012
Please click
jlne.ws/Q8VJE2

HKEx Monthly Market Highlights – August 2012
jlne.ws/Q8VJE3

Athens Exchange Monthly Statistical Bulletin August 2012
jlne.ws/Q8VJUg

The AX Trading Network Reports Record Trading Volume For August – 3.5m Shares Traded Is More The Double The Previous Record Set In July
jlne.ws/Q8VKYB

NASDAQ OMX Nordic Launches Weekly Options
NASDAQ OMX Nordic announces that trading in weekly options starts today on the NASDAQ OMX Stockholm AB market. The weekly options are traded with expiration every Friday, thus complementing the existing options products with monthly expiration. Weekly options are listed every Thursday after close enabling investors to trade options expiring in one or two weeks. The OMXS30 index will act as underlying for the weekly options.
jlne.ws/Q8VJUl

NYSE Euronext Announces Date for Third Quarter 2012 Earnings Release and Conference Call
NYSE Euronext (NYX) will announce earnings for the third quarter 2012 before the market opens on Tuesday, November 6, 2012. A news release will be issued at approximately 2:30 a.m. (New York) / 8:30 a.m. (Paris) and a conference call with remarks by NYSE Euronext senior management will begin at 8:00 a.m. (New York)/ 2:00 p.m. (Paris). A presentation will be referenced during the call and available on our website at http://www.nyseeuronext.com/ir.
jlne.ws/Q8VJUo

NYSE Expert Indices Committee
The Expert Indices Committee, meeting today, took the following decisions
jlne.ws/Q8VJUq

TMX Group Top 20 Largest – Consolidated Short Position Report – Highlights – August 31, 2012
jlne.ws/Q8VLeQ

Brazilian Independence Day – Market Holiday
On Friday (September, 7th) is public holiday in Brazil and there will be no trading on BM&FBOVESPA.
jlne.ws/Q8VLeT

Hedge Funds & Managed Futures

Private Equity Tests Pension Funds’ Patience
MICHAEL CORKERY AND GREGORY ZUCKERMAN – WSJ.com
Several years of subpar results from the private-equity industry’s biggest players are testing the patience of some of their most-loyal investors: the public-employee pension funds that have come to count on these buyout firms for healthy returns.
jlne.ws/Q8VLf0

Ex-Citadel’s Russell Said to Close Hedge Fund Bell Point
Bloomberg
Bell Point Capital Management LP, the multistrategy credit hedge fund founded by Joseph Russell, the former head of U.S. fundamental credit at Citadel LLC, is winding down by the end of the year, according to two people familiar with the matter.
jlne.ws/Q8VLf4

Why Wall Street Needs More Women Traders – A Conversation With Hedge Fund Boss Lex van Dam
Forbes
Apparently married men make better traders than single men. But do you know which group trumps them both in trading? It’s women.
jlne.ws/Q8VMQ4

GLG appoints Sudi Mariappa to lead fixed-income hedge fund offering
GLG, the Financial Services Authority (“FSA”) authorised and regulated investment manager division of Man Group plc (“Man”) is pleased to announce that Sudi Mariappa will be joining to manage its absolute return fixed-income offering.
jlne.ws/Q8VMQ7

Thrive Capital Raises $150 Million Fund, Bolstering Profile
EVELYN M. RUSLI – NYTimes.com
Thrive Capital, a venture capital firm based in Manhattan and run by Joshua Kushner, has raised $150 million for its latest fund as it seeks to raise its profile and become more competitive against larger firms.
jlne.ws/Q8VLvn

BNP Paribas Earns “Top Rated” and Best in Class Accolades in North America by Global Custodian’s 2012 Hedge Fund Administration Survey
Marketwire
BNP Paribas announced today that its Securities Services business in North America was among the highest ranked in Global Custodian’s 17 th annual Hedge Fund Administration survey. The survey polled industry clients on their hedge fund administration service providers.
jlne.ws/Q8VMQd

Banks & Brokers

ICAP announces electronic broking volumes of US$643.1bn for August
ICAP, the world’s leading interdealer broker, announces today that average daily volumes on the BrokerTec and EBS platforms for August were US$643.1bn, compared to US$644.1bn in July. For the month of August, there was a year-on-year decrease of 29%.
jlne.ws/Q8VMQe

Investment banks focus on core strengths
Daniel Schäfer – FT.com
In the past two years, investment banks have largely tried to counter a slump in business and a profit-crimping spate of regulation with a broad-brush attempt to cut jobs and capacity across all business segments.
jlne.ws/Q8VLvy

Lloyds CEO calls for radical change at UK banks
Reuters via Yahoo! News
The chief executive of Britain’s biggest retail bank Lloyds has joined calls for a radical change within the industry, saying it must make a break with the culture of the past in order to restore the trust of customers.
jlne.ws/Q8VN6s

Citigroup Hires Kris Van Broekhoven to Run Commodity Team
Bloomberg
Citigroup Inc. , the third-biggest U.S. bank by assets, hired Kris Van Broekhoven from Deutsche Bank AG as global head of a new commodity-trade-financing unit.
jlne.ws/Q8VN6v

JPMorgan Said to Face Escalating Senate Probe Into CIO’s Losses
By Dawn Kopecki, Robert Schmidt and Cheyenne Hopkins – Bloomberg
JPMorgan Chase & Co.’s wrong-way bets on derivatives are the focus of an escalating probe by a U.S. Senate panel led by Carl Levin that has grilled executives from banks including Goldman Sachs Group Inc. and HSBC Holdings Plc, three people briefed on the inquiry said.
jlne.ws/Q8VLLW

Morgan Stanley latest bank to lose traders to merchant firm
Reuters via Yahoo! News
NEW YORK – Three Morgan Stanley gasoline traders in Europe are set to join Swiss commodity trader Mercuria, a source said on Thursday, the latest Wall Street bank to lose traders to aggressive merchants.
jlne.ws/Q8VN6A

Ex-UBS Trader’s $2.3 Billion Trading-Loss Trial to Begin
Bloomberg
Kweku Adoboli, accused of unauthorized trades that cost UBS AG $2.3 billion, will go on trial next week charged with fraud and false accounting in one of the highest-profile banking cases ever heard in London.
jlne.ws/Q8VN6B

JPMorgan Chase names Craig Delany chief investment officer: memo
Reuters via Yahoo! News
JPMorgan Chase & Co named senior mortgage executive Craig Delany to head its chief investment office more than three months after the discovery of a wayward derivatives trade in the division that caused at least $5.8 billion in losses.
jlne.ws/Q8VN6E

Banco Santander Plans Euro Senior Unsecured Bond Due March 2016
Dow Jones
Spanish lender Banco Santander plans a euro benchmark senior unsecured bond due March 2016, one of the banks managing the deal said Friday.
jlne.ws/Q8VN6I

The Next (Lack Of) Trading Casualty: Nomura’s Brand New $270 Million Trading Floor
Zero Hedge
Over the past several months we have been warning that the ongoing collapse in trading volumes, in part due to the lack of faith in capital markets that now have all the integrity of a rigged Vegas casino from the 1960s, in part due to investors’ need to monetize assets in a world in which wages simply refuse to keep up with prices, will have not only irreversible implications on the shape of market structure, but also substantial consequences when it comes to the layout of modern banks, and associated up and downstream variables, such a jobs, real estate, support professions, municipal taxes and much more.
jlne.ws/Q8VNn1

HSBC sells 2 insurance businesses to Enstar
Associated Press via Yahoo! News
In its latest sale, HSBC Holdings PLC is selling two of its U.S. insurance businesses to Bermuda company Enstar Group Ltd. for an estimated $181 million.
jlne.ws/Q8VLM7

RBS said to be raising first Valcour Capital Management CLO
Stamford Advocate
Royal Bank of Scotland Group Plc is seeking to raise a $259.2 million collateralized loan obligation for Valcour Capital Management LLC, the firm’s first deal, according to a person with knowledge of the transaction.
jlne.ws/Q8VLMb

Barclays New CEO Shake-Up: What to Expect
CNBC
Antony Jenkins, the new chief executive of Barclays, is to announce a shake-up of the business early next year which will shrink investment banking division Barclays Capital and bankers’ paydays.
jlne.ws/Q8VM2t

Lehman’s Detroit escape means 90% loss on properties
Detroit News
Lehman Brothers Holdings Inc. has said it plans to be patient in selling real estate holdings four years after filing the largest U.S. bankruptcy in history. In Detroit, it’s willing to accept less than 10 cents on the dollar to get out while it can.
jlne.ws/Q8VM2z

NCUA Files Suit Against UBS Securities
jlne.ws/Q8VNng

European Central Bank: Technical Features Of Outright Monetary Transactions
jlne.ws/Q8VM2G

European Central Bank: Measures To Preserve Collateral Availability
jlne.ws/Q8VNDz

Statement By IMF Managing Director Christine Lagarde On ECB Decisions
jlne.ws/Q8VNDC

eSignal Launches New Integrated Marketing Campaign for Its Trading Platform
jlne.ws/Q8VNDF

Clearing & Settlement

Clearstream’s August 2012 Figures
In August 2012, the value of assets under custody held on behalf of customers registered an increase of 3 percent to E 11.2 trillion (compared to E 10.8 trillion in August 2011). Securities held under custody in Clearstream’s international business increased by 4 percent from E 5.8 trillion in August 2011 to E 6.0 trillion in August 2012 – while domestic German securities held under custody increased by 3 percent from E 5.0 trillion in August 2011 to E 5.1 trillion in August 2012.
jlne.ws/Q8VMj6

Pace of Customer Rate-Swap Clearing at LCH Triples Since May
Matthew Leising – Bloomberg
The pace at which bank customers are clearing their interest-rate swaps at LCH.Clearnet Group Ltd. has tripled in less than four months ahead of mandates set to take effect next year. The London-based clearinghouse had backed $3 trillion in rate swaps between a dealer bank and its money-manager clients as of Sept. 4, up from $1 trillion on May 25, Daniel Maguire, head of U.S. operations for LCH.Clearnet’s SwapClear service, said in a telephone interview. Most of that volume has come from hedge funds and has gone through the U.S.-based futures commission merchant that the company established last year.

New Zealand: New Designated Settlement System
The Reserve Bank of New Zealand and the Financial Markets Authority (FMA) today announced that the NZ Clear Settlement System has been declared a designated settlement system under Part 5C of the Reserve Bank of New Zealand Act.
jlne.ws/Q8VMjb

Indexes & Products

Gross’ PIMCO Total Return ETF surges out of gate
Boston Globe
It now has six months under its belt. Back in March, star bond trader Bill Gross launched an exchange-traded fund version of the PIMCO Total Return bond mutual fund. It was the most eagerly awaited ETF launch ever, due to Gross’ credentials and the strong record of the world’s largest mutual fund.
jlne.ws/Q8VNU1

Dow Jones-UBS Commodity Indexes Up After Isaac Makes Approach And Fed Indicates QE3 May Be Necessary
Dow Jones-UBS Commentary By Christine Marie Nielsen
jlne.ws/Q8VMzs

Dow Jones Islamic Market Titans 100 Index Finished Up 1.82% In August
jlne.ws/Q8VNU6

Global ETF And ETP Assets Reach New High Of Over USD1.7 Trillion
Data From The Latest Monthly ‘ETFGI Global Industry Insights’ Report Published Today By ETFGI LLP, An Independent Research And Consulting Firm Covering The Global ETF And ETP Industry, Reveals That Global Assets Invested In ETFs And ETPs At The End Of August Reached An All-Time High Of Over USD1.7 Trillion (USD1,762 Bn).
jlne.ws/Q8VNUa

ETFGI Global ETF And ETP Industry Insights, August 2012
jlne.ws/Q8VNUb

Technology

Belfius Chooses Numerix CrossAsset for Model Validation
Belfius Utilizes Numerix Analytics for Model Validation Reducing Operational Risk and Improving Model Choices
jlne.ws/Q8VNUg

Enforcement

SEC Charges Solar Manufacturer With Concealing Agreement to Transfer Ownership Stake in Its Chinese Subsidiary
The Securities and Exchange Commission today charged a solar panel manufacturer headquartered in South San Francisco and three of its former executives with defrauding investors by concealing the transfer of nearly half of the ownership stake in its Chinese subsidiary to three individuals in China who manage the subsidiary.
jlne.ws/Q8VMzD

Federal Court in Tennessee Orders Blue Sky Capital Management Corp. and its Principal, Gregory M. Schneider, to Pay $140,000 for Making False Statements to the National Futures Association
The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a federal court order requiring Blue Sky Capital Management Corp. (Blue Sky) and its principal, Gregory M. Schneider, jointly and severally to pay a $140,000 civil monetary penalty for making false statements to representatives of the National Futures Association (NFA), the futures industry self-regulatory organization, which operates under CFTC oversight
jlne.ws/Q8VOaA

DealBook: Appeals Court Revives Insider Trading Case Against Obus
New York Times
A Federal Appeals Court has revived a decade-old insider-trading case brought against Nelson Obus, a New York hedge fund manager, by the Securities and Exchange Commission.
jlne.ws/Q8VOaF

Former North Adelaide adviser appears in court on 52 charges of dishonest conduct
jlne.ws/Q8VOr2

Environmental & Energy

Japan Axing Nuclear for Renewables Means Missing Carbon Targets
Bloomberg
Phasing out nuclear power in Japan will cost the country the equivalent of $622 billion to build a power grid around renewable energy and means it will fail to meet a target to reduce greenhouse gas emissions.
jlne.ws/SovjmZ

**RKB – Key figures: Under the zero nuclear option, Japan would need to invest 43.6 trillion yen ($548 billion) on solar, wind and other types of renewable energy and 5.2 trillion yen on power grids, according to the government. At least 26.1 trillion yen in spending on renewables would be needed even if the world’s third-largest economy stays with nuclear power.

Japan Ministry Presses for More Clean Energy Support, Kyodo Says
Kyodo/Bloomberg
Japan’s environment ministry has asked for 41.1 billion yen ($521 million) to support clean energy projects for the fiscal year starting April, the Kyodo News agency said today, citing a ministerial budget request.
jlne.ws/QpUgej

Japan stresses cost of ending nuclear power as decision looms
Reuters
Japan’s government, buffeted by conflicting pressure from anti-nuclear voters and pro-nuclear business interests, is stressing the negative impact of a speedy exit from atomic energy as it nears a decision on a new energy mix.
jlne.ws/QicScK

Asia-Pacific

SGX And IMKB Ink MOU
Istanbul Menkul Kiymetler Borsasi (IMKB) and Singapore Exchange (“SGX”) today entered into a Memorandum of Understanding, to foster mutual cooperation towards the development of both exchanges and their respective markets.
jlne.ws/Q8VOra

TSE Announces “Looking at Companies Through an ESG Lens”
In order to heighten investor interest in the 2,200+ companies listed on the Tokyo Stock Exchange (TSE), from time to time we will be announcing sample groups of stocks selected based on a specific investment theme or indicator. To produce the first “Theme Issues List”, we have chosen the theme of “ESG” (see below). We have selected the stocks in this group based on the advice of a firm specializing in Socially Responsible Investment (SRI) research, (The Good Bankers Co., Ltd.).
jlne.ws/Q8VPvb

Ex-Citic Pacific’s Chui Doesn’t Testify in Insider Trial
Bloomberg
Citic Pacific Ltd. ’s former deputy head of finance Chui Wing Nin declined to take the stand in his Hong Kong trial on charges of insider trading ahead of the company’s 2008 profit warning.
jlne.ws/Q8VOrd

MarketPrizm Offers Fully Managed Direct Market Access Solution At The Tokyo Stock Exchange Colocation Facility
MarketPrizm, a leading provider of market data and trading infrastructure services, today announced that it has setup a mutualized colocation environment for clients at the Tokyo Stock Exchange, Inc. (TSE) to provide clients with market access services – data, order routing, managed hosting and low latency networking in the TSE data centre.
jlne.ws/Q8VOri

HKEx: On-Floor & Off-Floor Trading Statistics
jlne.ws/Q8VOrj

HKEx Publishes Consultation Paper On Board Diversity
jlne.ws/Q8VPLG

Thai Financials, Services, Food Industries Post Higher Net Profits In H1
jlne.ws/Q8VPLL

Frontier Markets

Egypt’s consumer and investor confidence on the rise
Washington Post
You couldn’t call it giddy optimism. But, in recent weeks Egypt has experienced a palpable mood swing, resulting in increased consumer and investor confidence, according to those in business, shopkeepers and political observers.
jlne.ws/Q8VOHE

RIL Gets Listed on Dubai Mercantile Exchange
INDOlink
Reliance Industries has got listed on the Dubai Mercantile Exchange, becoming the first major Indian company to participate directly in global oil futures market.
jlne.ws/Q8VOHJ

Thomson Reuters To Host Seventh Gulf Cooperation Council Regulators’ Summit In Doha, Qatar
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MCX – COMDEX Weekly Market Report: August 31, 2012 to September 06, 2012
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Securities Commission Malaysia: Wider Access For Retail Investors To Bonds And Sukuk
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