According to the Prime Minister's announcement on the occasion of Jordan Independence Day, the Amman Stock Exchange (ASE) will observe a holiday on Wednesday 25 May, 2016.
Amman Stock Exchange: Wednesday A Public Holiday To Celebrate Jordan Independence Day
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EBA Agrees With The Commission On Changes To The Amended Technical Standards On Benchmarking Of Internal Approaches
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Borsa Ä°stanbul Hosts DevOpsDays In Turkey For The First Time
After being organized in Belgium for the first time in 2009, DevOpsDays spread to the world in a short time. Now, DevOpsDays will be hosted by Borsa Ä°stanbul for the first time in Turkey on June 3-4, 2016. DevOps Days activities were realized in three continents, 11 countries, 22 cities in 2015, and this year, it will be organized in 24 cities including Istanbul.
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Nine New iShares ETFs Listing On The Bats ETF Marketplace Today - 40 iShares ETFs Now Listed On Batsâ U.S. Market
Bats Global Markets, Inc. (Bats: BATS), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed nine new ETFs from iShares to its U.S. market, the largest number of listings in one day for The Bats ETF Marketplace.
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Euronext In Exclusive Talks To Acquire 20% Of EuroCCP And To Offer User Choice Clearing Model For Equity Markets
Euronext today announced that it is in exclusive talks to acquire a 20% equity stake in EuroCCP for €14M (including contribution to regulatory capital) subject to closing adjustments and regulatory approval. In addition, Euronext will offer choice in clearing within the Eurozone through the implementation of a preferred Central Counterparty (CCP) model for its equity markets. EuroCCP is the leading CCP for pan-European equity markets providing clearing and settlement services and this new partnership will allow clients to benefit from significant operational and cost efficiencies.
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2016 Annual General Meeting Of Oslo Børs VPS Holding ASA
The Annual General Meeting of Oslo Børs VPS Holding ASA held on Thursday 12 May 2016 approved the annual report and accounts for 2015. The meeting resolved to pay a dividend of NOK 4.15 per share.
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Securities Enforcement Forum West 2016 Keynote Address: Private Equity Enforcement, Andrew Ceresney, SEC, Director, Division Of Enforcement, Securities Enforcement Forum West, San Francisco, California, May 12, 2016
Thank you for that kind introduction Bruce. At the outset, let me give the requisite reminder that the views I express today are my own and do not necessarily represent the views of the Commission or its staff.[1]
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CalPERS Again Earns 'AAA' Grade In Asset Owners Disclosure Project 2016 Climate Change Survey - Climate Index Ranks Fund In Top 10 Of Worldâs 500 Largest Asset Owners
The California Public Employees' Retirement System (CalPERS) today announced that it has again earned an 'AAA' grade from the Asset Owners Disclosure Project (AODP), 1 of only 12 organizations to do so, ranking ninth on the organization's index of the world's 500 largest asset owners.
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SEC Charges Shell Factory Operators With Fraud
The Securities and Exchange Commission today announced fraud charges against a California stock promoter and a New Jersey lawyer who allegedly were creating sham companies and selling them until the SEC stopped them in their tracks.
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Lands' End: Another J.C. Penney Scenario?
Columbia Business School Professor Rita McGrath asks an interesting question on her blog this week. She ponders whether the situation unfolding at Lands' End may be eerily similar to the fiasco that took place at J.C. Penney when Ron Johnson was hired as CEO. She's commenting about a Wall Street Journal feature story about the culture clash taking place at Lands' End as new CEO Federica Marchionni attempts to revitalize the apparel retailer. The former Ferrari and Dolce & Gabbana executive has taken over as CEO of the Wisconsin-based retailer, and she's trying to make the brand more fashionable. She tells the Wall Street Journal that her goal "is to evolve Landsâ End into a meaningful, global lifestyle brand.â The key question: Can she reignite growth at the firm without alienating traditional customers as well as her long-tenured employees?
Why has a culture clash emerged? For starters, Marchionni has decided not to work primarily from the corporate headquarters. The Wall Street Journal reports:
As part of her contract, the Landsâ End board agreed to let Ms. Marchionni work primarily from an office in New Yorkâs garment districtâan arrangement that rubbed some in Dodgeville the wrong way, according to former employees. Her employment agreement says she must be in Wisconsin for holiday parties and other social events that the Landsâ End CEO âhistorically has attended.â Joining her in Manhattan is a small group of fashion veterans including Joseph Boitano, a former Saks executive who serves as the companyâs chief merchandising and design officer.
Marchionni has also been critical of some of her own company's clothes, describing certain traditional Lands' End items as "ugly" in one presentation. There are other changes that have made some waves:
The CEO ordered up a slate of new ads to run in the September issue of Vogue and other fashion titles. She commissioned celebrity photographer Bruce Weber to shoot a major holiday campaign. The full-page newspaper and magazine inserts showed patrician-looking models in coastal settings. Spiked red heels now featured alongside comfy slip-on moccasins.
Professor McGrath acknowledges that Lands' End faces substantial challenges and needs to change. She wonders, however, whether Marchionni can lead in a way that brings her people along. Can she create an inclusive vision for the key employees? Or, will culture eat her bold new strategy for lunch? I don't know the answer to these questions, but I cannot imagine how leading a company from 1,000 miles away makes much sense. It creates problems at two levels. First, symbolically, it sends a message to employees that you don't want to engage with them, be available to them, etc. Second, substantively, it isolates you from the rank-and-file, making it more difficult for critical information (including bad news) to reach you in a timely manner.
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Autorité Des Marchés Financiers (AMF): Greater Efficiency And Transparency Of OTC Derivatives Market
To enhance transparency of the over the counter (OTC) derivatives market, the Autorité des marchés financiers (the “AMF”) today released the final version of amendments to Regulation 91-507 respecting Trade Repositories and Derivatives Data Reporting (the “Regulation”). Under the Regulation, recognized trade repositories will be required, as of January 16, 2017, to publicize certain data on transactions executed by OTC market participants.
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Ontario Securities Commission Publishes Final Amendments To OTC Derivatives Trade Reporting
The Ontario Securities Commission (OSC) today published final amendments to OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (TR Rule) and its companion policy. The amendments will increase transparency in the Canadian over-the-counter (OTC) derivatives market through public dissemination of transaction-level data and provide exclusions from the reporting requirement for certain OTC derivatives transactions between affiliates.
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NZX Shareholder Newsletter â May 2016
NZX today released its first shareholder update. These updates are designed to keep our shareholders informed about the progress of NZX’s portfolio of businesses and enhance their understanding of our businesses, products and services.
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Optimality of VWAP Execution Strategies under General Shaped Market Impact Functions. (arXiv:1605.03683v1 [q-fin.TR])
In this short note, we study an optimization problem of expected implementation shortfall (IS) cost under general shaped market impact functions. In particular, we find that an optimal strategy is a VWAP (volume weighted average price) execution strategy when the market model is a Black-Scholes type with stochastic clock and market trading volume is large.
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High-Roller Impact: A Large Generalized Game Model of Parimutuel Wagering. (arXiv:1605.03653v1 [math.OC])
How do large-scale participants in parimutuel wagering events affect the house and ordinary bettors? A standard narrative suggests that they may temporarily benefit the former at the expense of the latter. To approach this problem, we begin by developing a model based on the theory of large generalized games. Constrained only by their budgets, a continuum of diffuse (ordinary) players and a single atomic (large-scale) player simultaneously wager to maximize their expected profits according to their individual beliefs. Our main theoretical result gives necessary and sufficient conditions for the existence and uniqueness of a pure-strategy Nash equilibrium. Using this framework, we analyze our question in concrete scenarios. First, we study a situation in which both predicted effects are observed. Neither is always observed in our remaining examples, suggesting the need for a more nuanced view of large-scale participants.
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BM&FBOVESPA Announces Results For The First Quarter Of 2016 - Top Line Grew 8.3% Year-Over-Year, Reflecting Higher Volumes In Derivatives And Equities Combined With Increased Revenues From Other Services Not Related To Volumes - Operating Income Increased 20.9%; While Growth In The Net Income Was 21.4%
BM&FBOVESPA S.A. (ticker: BVMF3) today reported its first-quarter earnings for the period ending on March 31, 2016. In the year-over-year comparison, top line growth resulted from better volumes in both derivatives and equities, combined with higher revenues from other business not related to volumes.
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Tokyo Stock Exchange: Approval Of Initial Listing (TOKYO PRO-BOND Market): List USD-Denominated Foreign Bond On TOKYO PRO-BOND Market With Value Of USD 1 Billion (The Metropolis Of Tokyo)
Today, Tokyo Stock Exchange approved a USD-denominated bond with a total value of USD 1 billion (tenor: 5 years, coupon: 2.000%) from The Metropolis of Tokyo for listing on the professional-oriented TOKYO PRO-BOND Market.
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SIFMA Hosts Green Financing Roundtable On Capitol Hill, Bringing Together Industry Experts And Lawmakers
Today, SIFMA hosted a roundtable on green financing with leading financial services participants and Members of Congress to drive a discussion between industry and lawmakers on the role of the capital markets in funding green initiatives. The event was held on Capitol Hill and participants included Senator Chris Murphy (D-CT) and Representatives Carolyn Maloney (D-NY), Chris Gibson (R-NY) and Paul Tonko (D-NY). Industry participants included Kyung-Ah Park, Head of Environmental Markets Group, Goldman Sachs; Kurt Vogt, Managing Director, Sustainable Financing, HSBC; Pat Quinn, Managing Director, Nomura Securities International; Zachary Solomon, Vice President, Public Finance Group, Morgan Stanley.
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U.S. Department Of Justice: Assistant Attorney General Leslie R. Caldwell Delivers Remarks At The Securities Enforcement Forum West Conference, San Francisco, CA, United States ~ Thursday, May 12, 2016
Good afternoon and thank you, Susan [Resley], for that kind introduction. It is a pleasure to be back in San Francisco and to join all of you, including many friends and colleagues on both sides of the bar, to discuss important issues in securities enforcement.
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Launch Date For NZ Milk Price Futures And Options
NZX is pleased to announce that the launch of milk price futures contracts will occur on 27 May 2016. The launch of the related milk price options contracts will be announced in June following the futures contracts launch.
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