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CFTC Announces Mutual Acceptance of Approved Legal Entity Identifiers
October 30, 2013--The U.S. Commodity Futures Trading Commission (CFTC) announced in a Notice posted on the CFTC.gov website on October 30, 2013, that registered entities and swap counterparties subject to CFTC swap data recordkeeping and reporting regulations concerning Legal Entity
Identifiers (LEIs) can now comply with those regulations by using any LEI issued by an LEI provider endorsed by the Regulatory Oversight Committee (ROC) of the global LEI system.
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Source: CFTC.gov
The NASDAQ Stock Market Surpasses 100 IPOs in 2013 Year-to-Date
October 30, 2013--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it has welcomed over 100 initial public offerings* (IPO) to the NASDAQ Stock Market in 2013 year-to-date, more IPOs than any other U.S. exchange. This marks the first time NASDAQ has passed this milestone since 2007, when 154 IPOs were completed by year-end.
The combined proceeds raised by NASDAQ's 102 IPOs in 2013 year-to-date total more than $12.5 billion.
"The more than 100 new companies to list on NASDAQ this year represent visionaries and innovators from a diverse range of industries," said Bruce Aust, Executive Vice President, NASDAQ OMX. "By continuing to partner with such dynamic companies, NASDAQ fuels greater investment and confidence in the public markets to support robust economic growth."
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Source: NASDAQ OMX
Nasdaq Glitch Prompts Trading Halt in Some Markets
October 30, 2013--The Nasdaq Composite was frozen for nearly an hour during midsession trade Tuesday after Nasdaq OMX Group experienced problems transmitting data for stock-market indexes, the latest in a series of U.S. equity market breakdowns.
The widely tracked Nasdaq Composite Index froze for nearly an hour Tuesday after Nasdaq OMX Group Inc. experienced problems transmitting data for stock-market indexes, the latest in a series of technical problems besetting Nasdaq.
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Source: Wall Street Journal
CFTC Announces Mutual Acceptance of Approved Legal Entity Identifiers
October 30, 2013--The U.S. Commodity Futures Trading Commission (CFTC) announced in a Notice posted on the CFTC.gov website on October 30, 2013, that registered entities and swap counterparties subject to CFTC swap data recordkeeping and reporting regulations concerning Legal Entity Identifiers (LEIs)
can now comply with those regulations by using any LEI issued by an LEI provider endorsed by the Regulatory Oversight Committee (ROC) of the global LEI system.
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Source: CFTC.gov
Federal Reserve Issues FOMC Statement
October 30, 2013--Information received since the Federal Open Market Committee met in September generally suggests that economic activity has continued to expand at a moderate pace.
Indicators of labor market conditions have shown some further improvement,, but the unemployment rate remains elevated. Available data suggest that household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth. Apart from fluctuations due to changes in energy prices, inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the downside risks to the outlook for the economy and the labor market as having diminished, on net, since last fall. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, but it anticipates that inflation will move back toward its objective over the medium term.
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Source: FBR
CFTC.gov Commitments of Traders Reports Update
October 30, 2013--The current reports for the week of October 15, 2013 are now available.
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Source: CFTC.gov
ISE Statement on OPRA Market Data Issue
October 30, 2013--The International Securities Exchange (ISE) experienced a technical issue that led to a disruption in its outbound market data feed to OPRA commencing at the market open through approximately 10:55 am.
The root cause has been identified as a configuration error on the OPRA side that they applied specifically to the communication lines dedicated to receiving data from ISE and ISE Gemini. After implementing a temporary work-around to resolve the issue this morning, ISE and OPRA technology teams are collaborating to restore the proper configuration.
Source: International Securities Exchange (ISE)
House Approves Derivatives Pushout Bill Amending Dodd-Frank
October 30, 2013--Legislation to undo a Dodd-Frank Act measure requiring banks such as JPMorgan Chase & Co. (JPM) and Citigroup Inc. to separate swaps trading from deposit-taking units was advanced by the U.S. House with bipartisan support.
The revision approved today in a 292-122 vote would upend the 2010 law's push out provision by allowing trades of almost all types of derivatives by lenders with access to deposit insurance and discount borrowing. A companion bill has failed to gain traction in the Democrat-controlled Senate, which would have to agree with the change for it to become law. The House bill received 70 votes from Democrats.
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Source: Bloomberg
CFTC Votes to Drop Court Appeal of Position Limits Rule
CFTC abandons challenge of rule limiting speculation in commodity markets
October 29, 2013--The Commodity Futures Trading Commission voted to abandon a court challenge of a rule designed to limit speculation in commodity markets, agreeing to drop the agency's appeal as it works to advance a revised version of the rule.
The CFTC voted to drop its appeal of a September 2012 decision tossing out the agency’s "position limits" rule, which aimed to curb sharp price spikes by limiting the percentage of the market any one firm can control in certain commodities.
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Source: Wall Street Journal
CBOE To Introduce Mini-SPX Options With PM Settlement On November 5
Benefits Also Include Ease Of Cash Settlement And Certainty Of European Exercise
October 29, 2013--Chicago Board Options Exchange, Incorporated (CBOE(R)) announced today that the Exchange will list a Mini-SPX Index option (options symbol: XSP) contract with a new PM-settlement feature beginning on Tuesday, November 5.
CBOE's Mini-SPX Index options are one-tenth the value of the S&P 500(R) Index options (SPX), which are based on the premier benchmark of the broader U.S. market.
The PM-settlement is preferred by many investors, including institutions that have end-of-day reporting requirements.
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Source: CBOE
