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January 16, 2013
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  Top Stories 
  Regulatory Roundup 
  • Accounting group wants to tighten rule that MF Global used
    The Financial Accounting Standards Board plans to make it more difficult to use a repurchase agreement to conceal balance-sheet debt. That would prevent others from hiding risky investments in the same manner that MF Global concealed its European sovereign-debt exposure. Reuters (1/15) LinkedInFacebookTwitterEmail this Story
  • Editorial: CFTC rule for mutual funds should be revisited
    The Commodity Futures Trading Commission has finalized a rule that requires mutual funds and their investment advisers to register with the agency if they trade a certain amount of commodities futures, options and swaps. The rule, which unifies mandates from the agency and the Securities and Exchange Commission, needs more consideration, this editorial argues. InvestmentNews (free registration) (1/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry Developments 
  • China regulator says government-bond futures market is nearing
    China is moving toward the launch of a government-bond futures market, which the China Securities Regulatory Commission has been simulating for about a year, Chairman Guo Shuqing says. The market aims to increase liquidity in an arena that, despite its fast growth, is underdeveloped. Reuters (1/16) LinkedInFacebookTwitterEmail this Story
  • Other News
  Electronic Trading News 
  • FIA EPTA generally supports Germany's HFT proposal
    A proposal in Germany on rules for high-frequency trading has gained the support of the FIA European Principal Traders Association. The group noted its support for a level playing field for market participants along with safe, robust and transparent markets. "We generally endorse the proposal and believe a reasonable regulation of high-frequency trading to be appropriate, such as requirements on minimum tick sizes, enhanced transparency and order-to-trade ratios based on the respective class of instruments," said Mark Spanbroek, secretary-general of FIA EPTA. Read FIA EPTA's comments on the legislation. FTSE Global Markets (1/15), (1/15) LinkedInFacebookTwitterEmail this Story
  • Other News
  Commodities and Managed Futures 
  • Italian market may offer more futures, official says
    Italy is scheduled to launch the first durum-wheat-futures market in Europe, and Italiana Commodities head Ennio Arlandi says it may be only the beginning for the bourse. He declined to offer specifics but said "we are studying other derivatives on other agricultural products." The wheat-futures exchange is expected to help Italian pasta-makers deal with volatile prices. Reuters (1/15) LinkedInFacebookTwitterEmail this Story
  • HKEx plans an earlier round of trading on LME
    Hong Kong Exchanges and Clearing CEO Charles Li has announced an initiative to offer an earlier round of price discovery and clearing on the London Metal Exchange. The new round will cater to traders in Asian time zones. "When China begins exporting capital, that's when they'll want to talk on their terms," Li says. "That's why we need to be ahead of that by allowing for Asian trade of commodities, in an Asian time zone." Reuters (1/15) LinkedInFacebookTwitterEmail this Story
  FIA News 
  • IFM offers Series 3 Exam Preparation and Derivatives Training
    Dodd-Frank implementation has required more firms and their staff to register with NFA and pass the NFA Series 3 or 32 exams. The Institute for Financial Markets, an industry-sponsored nonprofit education foundation, offers both live and in-house courses as well as self-study materials to facilitate a firm's need to comply with the new regulatory regime. IFM offers both two-day Series 3 courses as well as derivatives courses on key topics important to the industry. Course details and dates can be found here. LinkedInFacebookTwitterEmail this Story
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Not in the clamor of the crowded street, not in the shouts and plaudits of the throng, but in ourselves, are triumph and defeat."
--Henry Wadsworth Longfellow,
American poet and educator

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