Industry news

September 25, 2012: Chicago exchange gets investments from State Street, Fidelity unit; Gensler Calls for Overhaul of Libor; Nordic Banks Gain New Status: Haven

Chicago’s new Eris Exchange gets backing from State Street and Fidelity. Gary Gensler of the CFTC tells the EU parliament that they should either rework LIBOR, or just throw it away and start over.  Banks in Sweden and Norway, relatively unharmed by financial crises and shocks shaking the rest of the world, strive to keep up with increasing foreign inflows as investors seek safe havens for their money.

First Read

Digital Swaps Fuel Confirmation Race to Cut Weeks to Seconds
Matthew Leising – Bloomberg
Intercontinental Exchange Inc., ICAP Plc and a joint-venture between Markit Group Ltd. and the Depository Trust & Clearing Corp. are building systems that the firms say will seek to cut the time it takes to confirm swap trades to less than a second.
jlne.ws/QBKpjC
**JK – Dr. Who trades swaps?

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RCG Onyx Plus Trading Platform Integrates Advanced Charting from Barchart
Barchart.com, Inc., a leading provider of market data and information, today announced that it is providing integrated charting capabilities to clients of Rosenthal Collins Group, a leading independent futures clearing and brokerage firm. Users of the RCG Onyx Plus electronic trading platform for futures now have access to Barchart’s fully interactive and real-time streaming charts.
jlne.ws/QBKpjF

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TMX Group Announces Alpha Executive Departures
TMX Group Limited today announced upcoming management changes at Alpha Group. Jos Schmitt, Chief Executive Officer, and Randee Pavalow, Chief Listings Officer and General Counsel, have elected to leave the company, effective October 31, 2012.
jlne.ws/QBKpA1

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LCH.Clearnet chief throws off utility mantle
Michelle Price – Financial News
When Ian Axe took the helm of LCH.Clearnet in February 2011, many predicted nothing short of a revolution at Europe’s oldest clearing house. As those who have dealt with the former global head of operations for Barclays Capital and Wealth are quick to remark: “Axe by name, axe by nature.” They have not been disappointed.
jlne.ws/QBKnYT
**JK – Cause I’m the Axe man, yeaaaaah, I’m the Axe maann…”

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CME Group Issues An Open Letter To The Energy Market
CME Group, the world’s leading and most diverse derivatives marketplace, released the following letter to its clients today: Many ClearPort energy customers have asked whether they can continue to use CME ClearPort after October 12, 2012, in the customary manner. First, it is important to note that energy transactions submitted to CME ClearPort are exempt from any new compliance obligations through December 31, 2012, under final CFTC regulations, including the Effective Date Order voted on by the CFTC this summer and published in the Federal Register on July 13, 2012.
jlne.ws/QBKnYU

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Libor Gives Prosecutors Chance to Change Banking Culture
Bloomberg
A defining feature of the 2008 financial crisis has been the dearth of criminal prosecutions. Rightly or wrongly, people have gotten the impression that the sheriff is asleep. The global Libor scandal has the potential to change that.
jlne.ws/QBKpQw
**JK – Here’s hoping these aren’t the same prosecutors working on the Lehman case, the AIG case, the MF Global case, the…

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Ex-Regulator Has Harsh Words for Bankers and Geithner
BEN PROTESS and PETER EAVIS – NYTimes.com
Sheila C. Bair, who tormented Wall Street and its Washington allies as a banking regulator, is taking a fresh swipe at her foes in retelling the dark days of the financial crisis. In a book to be released on Tuesday, the former chairwoman of the Federal Deposit Insurance Corporation takes aim at the bankers she blamed for the crisis.
jlne.ws/QBKqUG
**JK – Bair gets book deal and the microphone.

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Special Report: Iowa broker built empire on a lie concealed in a postal box
By P.J. Huffstutter, Ann Saphir, Tom Polansek and David Sheppard – Reuters
A small-town Iowa boy, raised in hard times by a widowed mother, starts a business in the back room of a barber shop before setting out to the big city. He strikes it rich and returns years later to local glory, spending lavishly and savoring his role as the big man in a little town.
jlne.ws/QBKqUJ

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Comment: Long live the market maker
Marcus Hooper – FT.com
Market making is undergoing a curious renaissance as politicians, academics and computer-driven trading firms redefine market structures. This goes against the trend of the last 20 years with the role historically performed by a small group of people relegated with the advent of electronic markets.
jlne.ws/QBKqUN

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Under Investigation, and Doing the Investigation
PETER J. HENNING – NYTimes.com
Whenever there is a report of corporate misconduct, a predictable response is that the company in question says it has hired a reputable law firm to conduct a thorough investigation, and it pledges to cooperate with the authorities to resolve the situation quickly. Prosecutors usually announce their own investigation, if they say anything at all. In reality, the government often uses reports provided by the companies to decide how to resolve the case. Yet this raises significant questions about conflicts of interest.
jlne.ws/TuHL5q

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Goldman’s Not-So-Golden Glow in the Summer of ’98
Roben Farzad – Bloomberg
After it emerged this month that Goldman Sachs was breaking with 25 years of tradition and no longer extending two-year contracts to college-recruited investment bankers, my mind was immediately transported to the heady summer of 1998. On the bottom tip of Manhattan, where Goldman’s footprint sprawled across several buildings, I was one of hundreds of newly hired two-year analysts who roamed the concrete canyons with company-issued ThinkPads and insignia satchels.
jlne.ws/QBKpQD

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Chicago Pits Quieter, But Traders’ Outcries Linger
NPR
Thirty years ago, shouting, sweating traders thronged the trading pits of Chicago’s exchange markets in barely controlled chaos. Today, a lot of the trading has left the pits and gone electronic, leaving Chicago’s trading pits tamer places.
jlne.ws/QBKrb7

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About-Face for Bankers’ New Lobbyist
ANDREW ROSS SORKIN – NYTimes.com
“I went to Wall Street and told them to get their snout out of the trough because they are some of the worst offenders when it comes to bailouts and carve-outs and special deals.” That was Tim Pawlenty, the former Republican governor of Minnesota, just over a year ago while running for president, railing against big banks. So what’s he up to now?
jlne.ws/QBKrb8

***JM: Wait, let me get this straight. A politician said whatever sounded good so he’d be popular… and then later did the exact opposite??? Is… is that… can they DO that???

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NFA announces second New York regulatory workshop for entities that currently operate commodity pools whose exemptions expire on December 31, 2012
National Futures Association (NFA) will hold a workshop in New York on Tuesday, October 23 at the NYMEX Building, One North End Avenue, for entities that, due to the recent CFTC rule amendments, are operating or advising commodity pools that had previously been exempt from registration as CPOs or CTAs. The workshop, presented by NFA staff and other futures professionals, will focus on the registration process, disclosure document preparation, performance reporting, financial reporting requirements, sales practices and the NFA audit process.

For details and to register, visit jlne.ws/QBKpQI

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Chicago QWAFAFEW and Chicago PRMIA: Options for Managing Risk and Yield In a Low Interest-rate Environment
Three financial experts will discuss the topic ‘Options for Managing Risk and Yield in a Low Interest-rate Environment’ at a panel discussion to be held from 5:00 p.m. to 6:30 p.m. on Tuesday, October 2nd on the fourth floor of the Chicago Board Options Exchange (CBOE), 400 South LaSalle Street, Chicago. The meeting is jointly sponsored by Chicago QWAFAFEW and Chicago PRMIA.

The three panelists will be:

(1) Mr. Scott Maidel, CFA, CAIA, FRM, senior portfolio manager in the equity derivatives group for Russell Investments and co-portfolio manager of the new Russell Strategic Call Overwriting Fund.
(2) Mr. John Gambla, CFA, FRM, PRM, a Senior Portfolio Manager for the Alternatives and Active Equity Investment Team at First Trust Advisors L.P.
(3) Mr. Edward McRedmond, Senior VP – Institutional & Portfolio Strategies, Invesco PowerShares.

Mr. Matt Moran of CBOE will serve as moderator for the meeting.

Admission is $10 in advance (or $15 at the door) with snacks and drinks provided. Please RSVP via http://www.acteva.com/go/ChicagoQWAFAFEW by Friday, September 28th, 2012.

MarketsWiki.tv

Ryan McElvogue of FFastFill Discusses Dodd-Frank Related Risk Management
MarketsWiki.tv
Ryan McElvogue is managing director of FFastFill, the U.S. subsidiary of FFastFill Plc., a London-based provider of front-, middle- and back-office solutions for the global electronic trading community. In August 2012, FFastfill announced that OrbitRisk, its clearing member risk management suite, is fully conformant with certain Dodd-Frank related CFTC regulations scheduled to take effect October 1, 2012. McElvogue spoke with John Lothian News Editor-at-Large Doug Ashburn about Orbit Risk, Dodd-Frank readiness and operational versus technical implementation issues.
jlne.ws/S9ZQOV

Steven Crutchfield of NYSE Discusses New Management Structure and Options Technology
MarketsWiki.tv
Steven Crutchfield was named CEO of NYSE Euronext’s two U.S. options exchanges, NYSE Amex Options and NYSE Arca Options earlier this month. The move marks a new management strategy for NYSE’s options markets, which had been managed separately. Crutchfield spoke with John Lothian News editor-in-chief Jim Kharouf about the new management structure, new initiatives for market makers and in risk management as well as dealing with lower options volumes this year.
jlne.ws/PQXBjO

MarketsWiki

MarketsWiki Page of the Day
Dividend-arbitrage trade
jlne.ws/VyII9Z

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MarketsWiki Recent Updates

People

Steven Crutchfield; Ryan McElvogue; Michael Frawley; Adam Sheldon; Michael Turek

Companies, Organizations and Groups

NYSE Arca Options; NYSE Amex Options; FFastFill; Jefferies Bache; Bionic Trader Systems

Miscellaneous

Dividend trade; Dividend-arbitrage trade

Statistics

28,819,295 pages viewed, 7,118 articles, 147,846 edits
MarketsWiki Statistics

Lead Stories

Chicago exchange gets investments from State Street, Fidelity unit
Lynne Marek – Crain’s
Two big-name financial firms have invested in Chicago-based Eris Exchange LLC, created to capture new trading expected under the 2010 Dodd-Frank reform law.
jlne.ws/QBKrbe

Gensler Calls for Overhaul of Libor
BEN PROTESS – NYTimes.com
A senior regulator called for an overhaul of a crucial interest rate on Monday, telling the European Parliament that the integrity of consumer borrowing is at stake. Gary Gensler, chairman of the Commodity Futures Trading Commission, suggested that authorities should retool or replace the London interbank offered rate, or Libor, which affects the cost of borrowing for consumers and corporations.
jlne.ws/RXeR7b

Nordic Banks Gain New Status: Haven
GUSTAV SANDSTROM – WSJ.com
Two decades after a devastating banking crisis, Nordic banks are playing a new role: a safe haven for scared euro-zone depositors and investors. As a result, some of the region’s largest banks, including Sweden’s Nordea AB and Norway’s DNB ASA, are changing the way they do business in order to accommodate a new inflow of foreign clients.
jlne.ws/QBKrbi

HKEX to Issue $400 Million of Bonds to Finance LME Deal
Bloomberg
Hong Kong Exchanges & Clearing Ltd. , the world’s second-biggest bourse by market value, said it plans to issue $400 million of fixed-rate convertible bonds to help finance its purchase of the London Metal Exchange.
jlne.ws/QBKq75

EU Calls for Jail Terms in Cases Like Libor
Riva Froymovich – WSJ.com
European Commission Michel Barnier Monday called for introducing prison sentences for bankers convicted of manipulating benchmarks used by financial industry. He also said financial regulators around the world should coordinate their efforts to supervise market benchmarks but leave enforcement to regional authorities like the European Union.
jlne.ws/QBKrbk

State of Europe’s Banks: Safe and Stressed
LAURA STEVENS AND EYK HENNING – WSJ.com
As Europe races to restore confidence in Spain’s finances and the euro, Germany has another reason for urgency in resolving the crisis: the health of its own banks.
jlne.ws/QBKrrC

Regulatory

CFTC Will Give Banks 2 Minutes to Accept or Reject Cleared Swaps
Matthew Leising – Bloomberg
Swaps dealers will have two minutes to accept or reject trades that will be sent to clearinghouses starting next month, the Commodity Futures Trading Commission said in the most-detailed requirement about timing to date.
jlne.ws/QBKrrE

Autorité des marchés financiers/NYSE Euronext Seminar: ” The Stock Exchange and SMEs”
The AMF and NYSE Euronext organised the 3rd edition of their seminar on “The Stock Exchange and SMEs” in Nantes, attracting over one hundred participants. This pedagogical event bears testimony to the resolute commitment of the AMF and NYSE Euronext to small and medium-sized enterprises (SMEs), as key players in economic life, and to taking their specific needs into consideration in stock market listing.
jlne.ws/QBKq7g

Oral Remarks Of CFTC Chairman Gary Gensler Before The European Parliament, Economic And Monetary Affairs Committee, Brussels Belgium
jlne.ws/QBKrrL

Remarks Of CFTC Chairman Gary Gensler Before The European Parliament, Economic And Monetary Affairs Committee – September 24, 2012, Brussels Belgium
jlne.ws/QBKrrO

SEC Priorities In Perspective – SEC Commissioner Daniel M. Gallagher
jlne.ws/QBKqnI

U.S. Agencies Release A Regulatory Capital Estimation Tool To Assist In Assessing The Potential Effects Of Recently Proposed Regulatory Capital Rules
jlne.ws/QBKqnN

Third Meeting Of The Financial Stability Board Regional Consultative Group For Europe
jlne.ws/QBKqE0

Financial Stability Board: Thematic Peer Review Of Resolution Regimes – Questionnaire
jlne.ws/QBKqE3

[Japan FSA] Holding of the Public-Private Financial Roundtable (September 25, 2012)
jlne.ws/QBKqE8

[Japan] FSA publishes Weekly Review No.13
jlne.ws/QBKrIl

Exchanges & Trading Facilities

LSE spies opportunity in race to provide Peruvian upgrade
Tim Cave – Financial News
The London Stock Exchange could be set to provide new trading systems to Bolsa de Valores de Lima, Peru’s national stock exchange, underlining its desire to expand into emerging markets. The LSE’s MillenniumIT unit is among a handful of vendors in talks with the Peruvian exchange, which plans to install a new trading platform early next year, according to sources familiar with the situation
jlne.ws/QBKrYB

Miami International Securities Exchange Announces Additional Mock Trading Testing Dates
Miami International Securities Exchange, LLC (“MIAX”) announced today that in preparation for the launch of its Options Trading Platform, MIAX is planning additional industry mock trading testing on the following dates:
jlne.ws/QBKrYC

CBOE-CFE-One Chicago Move to Equinix NY4-Date Change
jlne.ws/QBKtzN

[CBOE] Restrictions on Transactions in Sino Clean Energy, Inc.
jlne.ws/UrdVcO

Redecard S.A. Public Tender Offer turns over BRL 10.46 billion on BM&FBOVESPA
jlne.ws/QBKrYN

Sberbank raises $5bn in London’s largest listing of 2012
jlne.ws/QBKrYQ

Hellenic Exchanges S.A. Special Dividend – Share Capital Reduction Through A Reduction In The Share Par Value
jlne.ws/QBKrYS

Hedge Funds & Managed Futures

US Corporate Bond Tally Tops $100 Billion In September
Katy Burne – Dow Jones
U.S. corporate bond issuance has exceeded $100 billion for September, only the third time it has crossed that monthly threshold since at least 1995, according to data provider Dealogic.
jlne.ws/QBKsf6

Easier eton exits
New York Post
Hedge-fund wunderkind Eric Mindich has blinked. Faced with a growing investor revolt over lousy performance, Mindich’s $11 billion Eton Park Capital Management has rolled back its complicated lock-up period for most investors by more than a third.
http://jlne.ws/Qhl2Xd

The long and short of option trading
optionMONSTER via Yahoo! Finance
From the very short to the very long, option traders appear to have an insatiable appetite for new ways to play the market. And now the market is giving us, well, more options.
jlne.ws/QBKsf9

Banks & Brokers

Newedge expands metals desk
Newedge, a global leader in multi-asset brokerage and clearing, announced today a range of senior appointments across its Global Metals businesses in London, New York and Hong Kong.
jlne.ws/QBKtQi

Ex-Morgan Stanley derivatives chief strikes out on his own
Tom Osborn – Financial News
Bill Templer, former global co-head of listed derivatives at Morgan Stanley, has launched his own derivatives consultancy practice, nine months after leaving the bank during a wave of redundancies.
jlne.ws/QBKtQk

Royal Bank of Scotland Cuts 300 More Jobs at Investment Bank
Bloomberg
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, said it would cut 300 more jobs at its investment banking unit and is “on track” with its plan to exit businesses.
jlne.ws/QBKsfg

RBS Managers Said to Condone Manipulation of Libor Rates
Bloomberg
Royal Bank of Scotland Group Plc managers condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired.
jlne.ws/QBKtQp

Goldman Sachs’ board: Clubby as it ever was
CNN Money
The move to include yet another management member on the Goldman’s board — soon-to-be-former CFO David Viniar — brings the total to three, highly unusual for a large public company.
jlne.ws/QBKsfj

Clearing & Settlement

Market taps corporate cash for collateral
Michelle Price – Financial News
European market infrastructure providers are eyeing corporate balance sheets as the industry-wide “scramble” to secure liquid financing intensifies. Institutions, including Europe’s biggest settlement houses Euroclear and Clearstream, are increasingly including cash-rich blue chip companies among their clients as a slew of new collateral-intensive reforms leads to a scarcity of liquid assets.
jlne.ws/QBKsfn

New FX Trade Repository Launch on Track
BY CLARE CONNAGHAN – WSJ.com
Testing is well under way for a long-awaited repository service that will store trade data for the $4-trillion-a-day global foreign exchange market, says the Depository Trust & Clearing Corporation, which expects to go live with the new system on schedule in December.
jlne.ws/QzscmT

NYPC Announces Addition of New Clearing Members
New York Portfolio Clearing, LLC , a market leader in derivatives clearing, today announced that two new clearing members, J.P. Morgan Securities LLC and BNP Paribas Securities Corp., will join the steadily expanding group of firms enjoying the capital efficiencies generated by NYPC’s unique one-pot model.
jlne.ws/QBKsvE

FFastFill wins two new Mandates
FFastFill plc, the leading provider of Software as a Service (“SaaS”) to the global derivatives community, is pleased to announce that it continues to see traction with its award-winning Risk Management Product – Orbit Risk Pro.
jlne.ws/QBKsvK

CME Group: NYMEX Options Expiration Operational Procedures for the Trading Floor and Clearing Members (CO) Effective Tuesday, September 25, 2012
jlne.ws/QBKu70

CME Group: COMEX Options Expiration Operational Procedures for the Trading Floor and Clearing Members (HX, OG, SO) Effective Tuesday, September 25, 2012
jlne.ws/QBKune

CME Group: NYMEX Options Expiration Operational Procedures for the Trading Floor and Clearing Members (OB, OH, I, ON) Effective Tuesday, September 25, 2012
jlne.ws/QBKsvU

Indexes & Products

BDT Media Automation GmbH to issue bond in Entry Standard
jlne.ws/QBKunr

Subscription To Eterna Bond Issue Closes Early – Strong Demand Among Investors For The New Corporate Bond
jlne.ws/QBKsMg

New EDHEC-Risk Institute Study Addresses Volatility ETNs Following The Credit Suisse TVIX Controversy Of Early 2012
jlne.ws/QBKunv

S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices – A Deletion From The S&P/TSX Venture Composite Index
jlne.ws/QBKuDK

Semi-Annual Changes To The NASDAQ OMX CEA Smartphone Index
jlne.ws/QBKuDO

Semi-Annual Changes To The NASDAQ OMX Clean Edge Global Wind Energy Index
jlne.ws/QBKt2F

Semi-Annual Changes To The NASDAQ OMX Clean Edge Smart Grid Infrastructure Index
jlne.ws/QBKt2K

Technology

Fidessa Transforms Buy-Side Connectivity Service – Now Offers Full Infrastructure Outsourcing And Advanced Operations Management
Fidessa group, provider of high-performance trading, investment management and information solutions for the world’s financial community, has transformed its connectivity service for the buy-side. Recognizing that firms can no longer rely on the provision of FIX engines and networks alone, the service now covers all hosting, management and operational aspects of a firm’s FIX and Non-FIX based connectivity and infrastructure.
jlne.ws/QBKuDW

Chartis Names SunGard a Category Leader for Energy Trading Risk Management
SunGard has been positioned as a category leader by Chartis Research in its inaugural RiskTech Quadrant for energy trading risk management (ETRM) solutions.
jlne.ws/QBKuDX

Kx releases new version of kdb+
Kx Systems, the provider of database and timeseries analysis, has announced the release of kdb+ v3.0. Features of the new version include improved processing speeds when running on Intel’s recent processors, support for WebSockets, GUIDs/UUIDs (unique identifiers, which facilitate the design of distributed systems) and simplified storage of records.
jlne.ws/QBKuE0

EDI’s Corporate Actions Service adopts Bloomberg Open Symbology
Exchange Data International (EDI), the back office financial data provider, has adopted Bloomberg’s Global Securities Identifiers (‘BBGID’) to name and track all equities securities in its Worldwide Corporate Actions service.
jlne.ws/QBKuUm

NASDAQ OMX Launches FinQloud Powered By Amazon Web Services (AWS) – New Data Management Offering Exclusively For The Financial Sector Meets The Advanced Security Requirements Of Regulated Financial Services Businesses
jlne.ws/QBKuUn

Euclid Opportunities Supports Fintech Innovation Lab
Leading banks and venture capital companies are today launching the FinTech Innovation Lab London to help accelerate the development of cutting-edge technology for commercial application in the financial services industry. The programme is supported by the Mayor of London, the City of London Corporation and the Technology Strategy Board.
jlne.ws/QBKt2X

Equinix Opens Third Phase Of London Data Center – 4,000 Square Meter Expansion Offers Emergency Financial Trading Capabilities Via Business Continuity Trading Room For Financial Services Customers
jlne.ws/QBKtjh

Enforcement

SEC Charges Tyco for Illicit Payments to Foreign Officials
The Securities and Exchange Commission today charged Tyco International Ltd. with violating the Foreign Corrupt Practices Act (FCPA) when subsidiaries arranged illicit payments to foreign officials in more than a dozen countries.
jlne.ws/QBKuUs

FINRA Fines Merrill Lynch $500,000 for Failing to File Required Reports
The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined Merrill Lynch, Pierce, Fenner & Smith Inc. $500,000 for supervisory failures that allowed widespread deficiencies in filing hundreds of required reports, including customer complaints, arbitration claims, and related U4 and U5 filings, and for its failure to file the required reports.
jlne.ws/QBKtjl

FSA charges Ben Wilson, trading as SureInvestment, in relation to an unauthorised investment scheme
The Financial Services Authority (FSA) has charged Benjamin Edward Weymouth Wilson of Bournemouth, Dorset, with seven offences relating to an unauthorised investment scheme he operated.
jlne.ws/QBKuUt

Wall Street Scandals Fill Lawyers’ Pockets
New York Times
The white-collar bar is thriving with cases like the collapse of MF Global and the manipulation of the London interbank offered rate.
jlne.ws/QBKtjq

Ex-Intel executive sentenced to probation in NY for fraud in hedge fund insider trading case
Minneapolis-St. Paul Star Tribune
NEW YORK – A former Intel Corp. executive’s testimony at trial against a billionaire hedge fund founder accused of insider trading earned him leniency on Monday at sentencing for feeding confidential information about the computer chipmaker to the hedge fund founder, a former schoolmate.
jlne.ws/QBKtjr

Judge declines to send hedge fund swindler David Mobley back to prison
Naples Daily News
Convicted hedge-fund swindler David Mobley Sr. won’t be going back to prison, for now. Thirteen months after his release, Mobley was back in court Monday for violating his probation by not paying any of the $77.3 million in restitution owed to the victims of his Ponzi scheme.
jlne.ws/QBKtjs

Former mortgage broker pleads guilty to first charges laid under the National Credit Act
jlne.ws/QBKweQ

ASIC bans Victorian financial adviser for failing to comply with financial services laws
jlne.ws/QBKweW

ASIC bans Melbourne financial adviser for unlawful early release of superannuation
jlne.ws/QBKweZ

Environmental & Energy

EPA Recognizes NYSE Euronext for Green Power Leadership
NYSE Euronext (NYX) announced today that it has received a 2012 Green Power Leadership Award from the U.S. Environmental Protection Agency (EPA). NYSE Euronext is the only global exchange operator and one of only 12 organizations nationwide to earn the award for purchasing power generated by environmentally preferable, renewable resources.
jlne.ws/QBKwf2

EEX wants futures contracts for green power trading
Reuters
The European Energy Exchange (EEX) said on Monday it aims to introduce futures contracts to allow investors to trade wind, hydroelectric and solar-derived power in Europe.
jlne.ws/UsyfdO

**RKB – Also reported, the volume of traditional EEX power futures trading has suffered because the boom in new renewable power capacity is hurting revenues of thermal power stations and discourages cross-asset trading.

WWF unveils guide to sustainable commodities investing
Business Green
Banks, financiers, and analysts are being encouraged to promote the long term sustainability of 10 “high priority” global commodity sectors by a new WWF guide to responsible investing.
jlne.ws/RdYw14

Asia-Pacific

China investment quota granted to foreigners exceeds $30 billion
Reuters via Yahoo! News
Chinese regulators have cleared the way for overseas investors to buy more than $30 billion worth of stocks and bonds in China, exceeding the previous program limit, as Beijing seeks to attract more foreign portfolio investors.
jlne.ws/QBKvaW

Daiwa Securities to Cut Up to 50 Hong Kong Derivatives Jobs
Daiwa Securities Group Inc., Japan’s second-largest brokerage, said it will eliminate as many as 50 derivatives jobs in Hong Kong and may shrink investment banking and equity research in the city as part of an expanded cost-cutting program.
jlne.ws/QBKvb1

UBS names Nomura’s Treacy as co-head of all industries group Asia: memo
Reuters via Yahoo! News
UBS AG has hired Shaun Treacy from Nomura as co-head of its all industries group in Asia, according to an internal memo obtained by Reuters on Tuesday.
jlne.ws/QBKwf9

WORLD ENERGY CONGRESS RELEASES ADDITIONAL SPEAKERS FOR WEC DAEGU 2013
The WEC Daegu 2013 Organising Committee and the World Energy Council (WEC) today released a further list of 15 confirmed speakers for its 22nd World Energy Congress. The Congress will take place from 13 to 17 October 2013 in Daegu, South Korea.
jlne.ws/QBKvrl

Teijin to Debut Dollar Loan on Falling Borrowing Costs, CFO Says
Bloomberg
Teijin Ltd. , Japan ’s second-largest synthetic fiber maker, is planning its first U.S. dollar- denominated syndicated loan to take advantage of the lower cost of swapping greenback proceeds into yen.
jlne.ws/QBKvrm

Monetary Authority Of Singapore Widens Review Of Bank Processes For Setting Rates
jlne.ws/QBKvrp

Thai Alternative Bourse To List Project Planning Service On September 26
jlne.ws/QBKwvt

Shenzhen Stock Exchange Industry Top Index Launched
jlne.ws/QBKvrr

Thai Bourse Holds Mutual Fund Fair On September 27-30
jlne.ws/QBKwvx

Notice On The Publication And Implementation Of Measures On Administration Of Hedging At Dalian Commodity Exchange
jlne.ws/QBKvrs

Frontier Markets

Stock exchange: Well placed for regional integration
Katrina Manson – FT.com
David Mitali opens a square-ruled exercise book and peers over his blue-ink scrawl. Such are market statistics at the Rwanda Stock Exchange. By 11.15am on a Thursday, 45 minutes before the close of business, not a single trade has gone through. The day before, Mr Mitali, board writer and operations officer, says the exchange managed four trades.
jlne.ws/QBKwvA

Indian Stock Exchange CEO Sees Market Reforms Boosting Equities
Bloomberg
India’s stock market will benefit from government reforms to attract capital and boost economic growth, said Ravi Narain, chief executive officer of the National Stock Exchange of India Ltd.
jlne.ws/QBKwvD

Updated Facebook Page Serves as Leading Indicator
Bloomberg
You could say that Myanmar won over Kevin Murphy at “min-ga-la-ba,” or “hello” in Burmese. The American first came to this isolated land in the 1980s as a student and returned in the 1990s as a journalist. In 2002, he came back again — this time for good and as an investor.
jlne.ws/QBKvrx

BATM Advanced Communications Celebrates Tel -Aviv Stock Exchange Dual-Listing
jlne.ws/QBKvry

Bursa Malaysia Reprimands, Fines And Suspends Raja Mohamad Adnan Bin Raja Osman For Engaging In False Trading Activities
jlne.ws/QBKwvE