News Articles

National 4-H Council And CME Group Announce New Partnership - Joint Sponsorship Of Commodity Carnivals At State And County Fairs Will Engage And Educate Youth About The Vital Role Of Agriculture Commodities In Daily Life

Wed, 19 Jun 2013 17:35:02 GMT

National 4-H Council and CME Group have launched a new partnership that will connect the important work of the world’s leading futures exchange company to the 4-H mission at the local level.

National 4-H Council and CME Group developed a Commodity Carnival together, aiming to increase the public’s understanding of the important role agriculture commodities and hedging with futures play in successful farming. Specifically, the interactive initiative will highlight what it takes to successfully manage the risks in bringing them to market– and build agriculture literacy across the nation.

In its first year, the new program will showcase a fun, interactive learning activity – at select county and state fairs across 11 states including Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, Ohio, South Dakota, Texas and Wisconsin. 4-H youth will run The Commodity Carnival game booth, and actively engage fair goers about agricultural commodities and risk management in each participating state.

“A partnership with CME Group is a perfect fit with 4-H,” said Donald T. Floyd, Jr., president and CEO, National 4-H Council. “The agriculture market impacts people’s lives each and every day. It’s a vital part of our global economy. Therefore, educating youth and their families about the role of agricultural commodities is vital. This initiative delivers that important education in a fun, interactive way that everyone will enjoy.”

“Agriculture has been a central part of our business for more than 160 years, and we’re thrilled to partner with 4-H at county and state fairs. We’re eager to provide an engaging way for fairgoers to gain a basic understanding of commodity trading and the vital role that managing risk plays in helping our nation’s farmers thrive,” said Anita Liskey, CME Group Managing Director, Corporate Marketing & Communications.

Developed by the Ohio State University Extension, The Commodity Carnival will consist of two hands-on mini carnival games – Invest & Grow and Pig-Linko – to introduce the concepts of agriculture futures, options and commodity trading to families and youth ages 8-14. Each activity will guide the participants through the process of producing a commodity (e.g., hogs) and selling it. Throughout the experience, participants will learn to (1) recognize what an agriculture commodity is and associate commodities with products used in their daily lives; (2) learn what investments are required to raise a commodity; and (3) discover how the risks of taking a commodity to market factor into its selling prices.

To see a video about the partnership between 4-H and CME, go to: http://cmegroup.mediaroom.com/index.php?s=132&video=143

To join the fun and play the games, go to www.4-H.org/commoditycarnival to find a participating state or county fair that will be hosting The Commodity Carnival this summer and fall.

NYSE Euronext’s “The Big Stage” Provides Unique Insights Into Capital Markets Community - Integrated Marketing Campaign Incorporates Branded Content With Launch Of Digital Content Platform

Wed, 19 Jun 2013 16:58:59 GMT

Going public on the New York Stock Exchange (NYSE) is a significant benchmark for any business. While it’s the culmination of many successes, an IPO is followed by even more growth stories and achievements. To showcase the great moments, individuals and activities behind the most fascinating companies in business, the NYSE today unveiled a new multichannel marketing initiative: The Big Stage.

“The Big Stage is a metaphor for the arena supported by the market quality and visibility platform that is distinctly unique to the NYSE. The companies within our global community continue to mark their achievements on our stage and this campaign is designed to explore the unique stories tied to these moments,” said Marisa Ricciardi, Global Head of Marketing & Branding, NYSE Euronext. “This non-traditional approach, which combines paid, owned and earned media strategies, is central to engaging an audience around these ‘behind the scenes’ stories in today’s multichannel world.”

The creation of a newly created branded content property, NYSEBigStage (www.NYSEBigStage.com), is a confluence of storytelling and design. It is built to showcase exclusive company stories and build a community of new and established leaders. Tailored for the general business audience, the high quality content will engage audiences through captivating retellings of a brand’s reinvention, insightful profiles that reveal how leaders turned challenges into opportunities and thoughtful insights on policy actions. With over 2,100 listed issuers globally, NYSEBigStage will have a regular pipeline of fresh material.

Additionally, a cobranded TV campaign, which explores the journey companies take to join the capital markets community, launched today. As the biggest stage in business, the NYSE is leveraging its unique position to put a lens to recent IPOs including Silver Spring Networks (NYSE: SSNI), Workday (NYSE: WDAY) and Zoetis (NYSE: ZTS) at launch. The 30 second spots will be targeted to key demographics across CNN, CNBC and Bloomberg TV as well as select digital and social channels.

“An IPO serves as a moment of recognition to those who labored to build a company from its inception and we fully appreciate how it’s celebrated by employees, anticipated by future shareholders and widely documented across the media,” said Scott Cutler, Executive Vice President and Head of Global Listings, NYSE Euronext. “The Big Stage truly taps into the sentiment behind an IPO – with access to our sophisticated market structure and the world’s largest pool of investors and liquidity, a company can recognize their loftiest business goals.”

NYSE Euronext worked with Digitas, a global digital agency, on the creative and built the content property leveraging responsive design for multichannel content consumption. In addition to other sources, including NYSE, NYSEBigStage features original content produced by Time Inc. Content Solutions, the content marketing arm of Time Inc.

For more information and to check out the digital versions of The Big Stage advertisements, please visit http://nysebigstage.com/newsdesk/biggeststage.

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ESMA's Chairman Steven Maijoor Delivers Keynote Speech At ISLA's 22nd Annual Conference

Wed, 19 Jun 2013 16:21:34 GMT

Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), delivered the keynote address at ISLA's 22nd Annual International Securities Lending Conference in Prague. The speech is available here.

ATS Brasil Files For Launch With CVM - Announces Alan Gandelman As CEO Of ATS Brasil - Powered By NYSE Technologies’ Universal Trading Platform

Wed, 19 Jun 2013 16:09:29 GMT

Americas Trading System Brasil (ATS Brasil), a joint-venture between Americas Trading Group (ATG) and NYSE Euronext, has formally made yesterday (18/6) an authorization request with the Securities and Exchange Commission (CVM)in Brazil to launch as a new stock exchange in the Brazilian market. The formal request to approve ATS Brasil for trading in 2014 also includes provisions for the admission of new liquidity providers to the joint venture.

Additionally, experienced Latin American industry veteran Alan Gandelman has been announced as CEO of ATS Brasil. He will be responsible for leading the launch of the exchange as well as its development and strategic direction. ATG holds the controlling interest and operational management of ATS Brasil while NYSE Euronext has a minority interest in the company. ATS Brasil will operate using trading solutions developed and installed by NYSE Technologies, the technology unit of NYSE Euronext.

“The entry of ATS Brasil will be very positive for the evolution of the Brazilian stock market by adding another important trading platform to the region that will encourage growth and increase access to our markets,” states Alan Gandelman, CEO of ATS Brasil. “The entry of ATS Brasil would represent a new cycle in the Brazilian exchange market offering greater innovation, liquidity and trading activity. It is intended to support meaningful cost reduction while offering significant efficiency gains to investors, further positioning Brazil amongst the world’s most attractive markets.”

NYSE Technologies has already completed the customization of the core trading technology for ATS Brasil and is now testing the platform functionality and global connectivity capabilities. ATS Brasil is built on the Universal Trading Platform (UTP), a world-class trading engine used by NYSE Euronext’s stock and derivatives exchanges worldwide.

“Now in the testing phase for ATS Brasil, the Universal Trading Platform has been optimized to meet the specific needs of the Brazilian marketplace, its market participants and future global customers. This proven trading technology will provide a high quality trading experience with exceptional performance and reliability, which are key features of NYSE Euronext’s trading platforms trusted by firms around the world. We believe that ATS Brasil will be well received by Brazilian market participants and will offer more choice, liquidity and global access to customers trading in Brazil,” said Martin Koopman, Senior Vice President, NYSE Euronext and ATS Brasil Board Director.

ATS Brasil Board Director and ATG’s COO Arthur Pinheiro Machado, explains that ATS Brasil will operate in the market as a new stock exchange focused on the trading of equities and it may expand to other products in the future.

“This new stock exchange is a natural evolution of the market. Since the announcement of the formation of ATS Brasil, we have had great acceptance and interest from many institutions andwe believe that the Brazilian market has enormous development potential. Our goal is to increase the number of national and international stakeholders, as well as facilitate more growth in order flow.”

ATS Brasil is scheduled to begin operations in 2014, pending the approval of Brazilian regulatory authorities.

ESMA Publishes Compliance Table For Guidelines On Market Making

Wed, 19 Jun 2013 16:16:49 GMT

The European Securities and Markets Authority (ESMA) has published a Compliance Table in relation to its Guidelines on Exemption for market making activities and primary market operations under the Short Selling Regulation. The table indicates which national competent authorities have declared that they comply or intend to comply with the Guidelines and which do not comply. ESMA has also published the explanations provided by those national competent authorities who have indicated their non-compliance.

2013/765 - Guidelines Compliance Table - Exemption for market making activities and primary market operations under Regulation (EU) 236/2012

2013/74 - Guidelines on Exemption for market making activities and primary market operations under the Short Selling Regulation

CFTC Orders ABN AMRO Clearing Chicago LLC To Pay $1 Million To Settle Charges Of Segregated And Secured Fund Deficiencies, A Minimum Net Capital Violation, Books And Records Violation, And Supervision Failures

Wed, 19 Jun 2013 15:36:40 GMT

The U.S. Commodity Futures Trading Commission (CFTC) issued an Order on June 18, 2013, filing and settling charges against ABN AMRO Clearing Chicago LLC (ABN AMRO) of Chicago, Illinois, for failing to segregate or secure sufficient customer funds; failing to meet the minimum net capital requirements, failure to maintain accurate books and records, and failure to supervise its employees.

According to the CFTC Order, during the period March 19, 2009, through January 2012, ABN AMRO reported three instances of under-segregated customer funds in violation of Section 4d(a)(2) of the Commodity Exchange Act (CEA), 7 U.S.C. § 6d(a)(2) (2006 & Supp. V 2012), and Commission Regulation 1.20(a), 17 C.F.R. § 1.20(a) (2011) and one instance of under-secured customer funds in violation of Section 4d(a)(2) of the CEA, 7 U.S.C. § 6d(a)(2) (2006 & Supp. V 2012), and CFTC Regulation 30.7, 17 C.F.R. § 30.7 (2011). Each of these violations was the result of clerical errors and/or a lack of adequate policies and procedures related to customer movement of funds.

The Order also states that during a CME Group routine audit of ABN AMRO’s books and records as they were on the close of business on May 31, 2011, the CME Group found that ABN AMRO had improperly used a customer’s withdrawn warehouse receipts as collateral for margining purposes. Without these warehouse receipts, the customer’s accounts were under-margined on several occasions, and ABN AMRO had to reduce its adjusted net capital by an amount equal to the margin deficits. Once these reductions were calculated, it was determined that ABN AMRO failed to meet the minimum net capital requirements for a single month-end, in violation of Section 4f(b) of the Act, 7 U.S.C. § 6f(b) (2006), and Regulation 1.17(a)(1)(i), 17 C.F.R. § 1.17(a)(1)(i) (2011).

Also, the CFTC’s Division of Swap Dealer and Intermediary Oversight (DSIO) Examination staff conducted a limited review of ABN AMRO beginning January 27, 2012. According to the Order, at that time, ABN AMRO was unable to produce a complete and accurate margin report listing for a very limited number of certain types of accounts (e.g., omnibus accounts that offset margin requirements for certain spread transactions). The Order finds that ABN AMRO violated Section 4g(a) of the CEA, 7 U.S.C. § 6g(a) (2006), and CFTC Regulation 1.35(a), 17 C.F.R. § 1.35(a) (2011), when it failed to keep accurate books and records sufficient to determine the margin status of each customer.

The Order finds that each of these violations was a result of ABN AMRO’s insufficient controls, reflecting a lack of supervisory controls over commodity interest accounts and/or other activities of its partners, employees, and agents relating to its business as a Commission registrant in violation of CFTC Regulation 166.3, 17 C.F.R. § 166.3 (2011).

Based on these violations of the CEA and CFTC Regulations, the Order imposes a $1 million civil monetary penalty, a cease and desist order, and requires ABN AMRO to retain an independent consultant to review and evaluate the effectiveness of its existing internal controls and policies and procedures and adopt any recommendations for improvement made by the consultant.

The CFTC thanks the CME Group for its assistance with this matter.

CFTC Division of Enforcement staff responsible for this action are Allison Baker Shealy, John Einstman, Paul G. Hayeck, and Joan Manley. Kevin Piccoli, Melissa Hendrickson, Carrie Coffin, and Michael Guritz of DSIO also assisted in this matter.

Moscow Exchange: Results Of Auction For Placement Of The Russian Federation Government Bonds, Issue No25082RMFS

Wed, 19 Jun 2013 14:05:36 GMT

On Juny 19, 2013 the auction for placement of the Russian Federation government bonds, issue No 25082 RMFS, took place in the CJSC MICEX Stock Exchange with the following results:

Parameters of issue # 25082RMFS:
Maturity date: 11 May 2016.
Aggregate demand at par: 41532.860 mln. RUR.
Placed value at par: 10000.000 mln. RUR.
Minimal accepted price: 99.1400 %.
Yield at minimal accepted price: 6.4300 % per annum.
Weighted average price: 99.1400 %.
Yield at weighted average price: 6.4300 % per annum.

Dion Appoints Achim Kleber To Its European Sales Team

Wed, 19 Jun 2013 12:17:27 GMT

Dion Global Solutions (BSE: 526927), technology partner to the financial services industry, has appointed Achim Kleber to its European Sales Team. As Business Development Manager, Achim will help drive Dion’s growth in the European market across the DACH region.

Achim joins Dion from Oracle where he was a Sales Executive responsible for Integrated Risk and Finance applications in the German banking market. He brings more than twenty years of experience to the role having worked in business development and sales for financial technology firms including Metastorm, Sungard and Odyssey Financial Technologies (acquired by Temenos).

With a deep understanding of the technology needs of financial market participants, Achim has a proven track record in delivering integrated solutions that solve clients’ most challenging business issues concerning regulation, cost control, and adapting to changing business environments and models.

“Technology offers firms in the financial markets the opportunity to transform and grow their business while meeting ever-growing demands around compliance, efficiency and transparency,” said Achim. “Dion’s market-leading technology is based on an unrivalled understanding of workflows and straight-through processing. The ability to integrate multiple processes and systems within a single underlying platform is critical to achieving long-term operational efficiency and agility and means firms no longer need to solve problems in isolation.”

Antony Bream, European Sales Director at Dion added: “Achim’s experience spans many sectors of the financial services industry, from wealth management to banking and trading systems, and matches the breadth and depth of our product offering. His appointment further enhances our ability to provide expertise across the capital markets and wealth management with the advantage of a single point of contact for multiple solutions.”

Dion provides solutions to investment, retail and commercial banks, institutional traders and investors and private client wealth managers and stockbrokers.

CameronTec’s Catalys Muscles In On Central And Eastern Europe - CameronTec Providing CEE Stock Exchange Group With Connectivity Technology And Trading Infrastructure To Manage And Support The Entire Trading Lifecycle

Wed, 19 Jun 2013 11:48:09 GMT

CameronTec, the global standard in connectivity technology and trading infrastructure today announced that CEE Stock Exchange Group (CEESEG) has selected the Catalys line of products.

The Vienna Stock Exchange established the central execution interface (CEESEG FIX) for the four CEESEG members (Vienna, Budapest, Ljubljana and Prague). It also acts as market data hub for the six “cooperation” exchanges of Banja Luka, Belgrade, Bucharest, Macedonia, Sarajevo and Montenegro, and a further three energy exchanges in Eastern Europe.

CameronTec’s Catalys infrastructure will provide the CEESEG with an open-standard-based and centrally managed platform to truly harness performance, data interoperability, and business insight. This five year agreement includes CatalysTrade Front Ends, Market Data Layer and EnBS / ETS Adapters which will enable the exchange to seamlessly monitor, manage and control the entire order and trade flow as well as the market data flow from all respective venues. Catalys is underpinned by CameronTec’s market-leading connectivity technology, and engineered on the widely acknowledged standard in FIX engines, CameronFIX.

“CameronTec looks forward to further expanding its valued partnership with CEESEG for the long-term to provide state of the art FIX connectivity and trading infrastructure for what is undoubtedly the largest exchange operator in the region. We look forward to working with Wiener Börse to bring the broader benefits of Catalys to all members of the CEE Stock Exchange Group,” comments Anders Henriksson, CEO for CameronTec.

Catalys is designed to further empower brokers, banks and the buy-side to aggregate, view and manage related trade data. FIX transactional data and also latency, risk and operational data, all from a multitude of disparate third party systems, gateways and applications. Earlier in 2013 CameronTec announced latest technology enhancements included in Catalys v2.1, designed to further expand the Catalys offering and addressing critical areas of the deal life-cycle – pre-trade, trade and post trade, for a complete, modular FIX infrastructure platform built to address multi-asset, multi-market trading.

Equiniti To Launch Unprecedented Pooled Custody And Back-Office Service For Wealth Managers And Stockbrokers - In Response To Market Demand

Wed, 19 Jun 2013 11:44:41 GMT

Equiniti, the UK’s leading share registrar and financial services outsourcing specialist, is set to launch a new technology platform to provide a centralised pooling of custody and business processes as well as a customer interface.

The new platform, the first of its kind, is designed to improve client relationships and reduce the cost of processing for wealth managers and stockbrokers.

The platform named ‘Equiniti Wealth Solution’ has been developed in response to growing regulation and the requirement for a commoditised back office which isn’t prohibitively expensive. Equiniti is currently working with potential users and also calling on new users to help design a universal platform suitable for the whole industry.

Mark Taylor, Managing Director, Equiniti Investment Services, highlights: “The wealth and broking space is facing unprecedented pressures which current back office solutions are simply not addressing. Equiniti Wealth Solution provides an opportunity to outsource a number of non-core functions and allows brokers to focus on managing clients’ assets, which is where their value lies. As one of the UK’s leading registrars with 20m holdings and processing significant volumes of transactions, we are already fulfilling this role within the retail environment and have systems and processes which deliver cost reductions. Our existing processes provide outsourced custody, settlement for stocks, funds and fixed interest securities and we are working with brokers to use this to develop a universal solution that uses the existing technology and satisfies their requirements.”

The new service also provides an investor interface which utilises the resources of recent purchase peterevans. The Equiniti Wealth Solution will:

•          Recognise the cost imperatives for wealth managers and retail brokers
•          Allow retention of in-house systems for portfolio management and executing orders with the market
•          Simple CREST interface
•          Enquiry facilities for brokers and their clients
•          Process corporate actions
•          Provide a high level of MI and reporting.