We are very pleased that Canada is hosting the IOSCO Annual Conference. Since its formation in the 1980s, IOSCO has become the recognized body for establishing regulatory benchmarks for international securities markets. Clearly the SRO Consultative Committee provides meaningful input to IOSCO policy setting. Your work is very important to securities markets globally and we value this opportunity to meet with you today.
Singapore Exchange (SGX) and HCL Technologies (HCL), a leading global IT services provider, said they have signed a five-year IT infrastructure outsourcing agreement worth S$110 million.
NYSE Euronext (NYX) announced that Luis Laginha de Sousa will become Chairman and Chief Executive Officer of NYSE Euronext Lisbon, effective July 1, 2010 and subject to regulatory approval. Luis Laginha de Sousa will succeed Miguel Athayde Marques, who has decided to resign his positions with NYSE Euronext to pursue other professional opportunities. Luis Laginha, who is currently Chief Operating Officer in Lisbon, will also become a member of the Managing Board of Euronext N.V. and the Management Committee of NYSE Euronext.
In order to enhance trading in equities listed on SIX Swiss Exchange,transaction capacity is substantially extended as of Monday, 14 June 2010. Moreover, SIX Swiss Exchange supports remote market participants to reduce latency by extending the choice of proximity service providers, thereby enabling remote participants to benefit from sub-millisecond latency.
IOSCO’s areas of immediate focus are outlined below:
- IOSCO’s Strategic Direction
- Update of IOSCO Objectives and Principles
- IOSCO Multilateral Memorandum of Understanding
- Initiative to Raise Standards of Cross-Border Cooperation
- New IOSCO Work Mandates
- The SRO Consultative Committee
- Reports approved for publication
- Appointment of New Standing Committee Chairs
- IOSCO Elections
- Admission of New Members
- Future Conferences
On the 1st of July 2010, the Johannesburg Stock Exchange (JSE) and a global index provider FTSE Group (FTSE) will launch of the FTSE/JSE Equally Weighted Top 40 Index. The new index adds to the existing FTSE JSE index Series, providing an alternative to market capitalisation weighting and is the first equally weighted index to be launched in South Africa, within the FTSE/JSE Index Series.
On the 17th of May 2010, Johannesburg Stock Exchange (JSE) listed cash-settled soybean, soymeal and soybean oil derivative contracts based on CBOT settlement prices licensed from CME Group. The new products will allow local farmers, processors and importers to hedge their price risk against the international benchmarks. These contracts will be listed, traded and settled by the JSE.
This past May, Johannesburg Stock Exchange (JSE) listed a sweet sorghum derivative contract complementing the exchange’s existing range of agricultural derivatives. The product is aimed at larger agricultural traders, financiers and end processors with a contract size of 100 metric tons.
The Securities and Exchange Commission approved rules that will require the exchanges and FINRA to pause trading in certain individual stocks if the price moves 10 percent or more in a five-minute period. The rules, which were proposed by the national securities exchanges and FINRA and published for public comment, come in response to the market disruption of May 6.
The International Organization of Securities Commissions (IOSCO) has today welcomed the securities markets regulators from Iceland, the Republic of the Maldives, the Kingdom of Saudi Arabia and Syria as its newest members.