NO 249 – NOVEMBER 2013

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Regulation

CME Group receives temporary registration as swap execution facility

CME Group announced that Chicago Mercantile Exchange has received temporary registration as a Swap Execution Facility by the Commodity Futures Trading Commission. CME Group will initially focus on commodity products, and will look to develop additional markets over time with the industry.

European Council approves transparency requirements for securities issuers

On 17 October 2013, the European Council adopted a directive updating transparency requirements introduced in 2004 for issuers of securities on regulated markets. The transparency directive is aimed at ensuring a high level of investor confidence throughout the EU. It requires issuers of securities traded on regulated markets to publish periodic financial information about the issuer’s performance over the financial year and on-going information on major holdings of voting rights.

Shanghai Stock Exchange publishes new rules on thresholds for block trading

The Shanghai Stock Exchange, in response to the market need, has made some amendments to the “SSE Trading Rules” concerning block trading. The thresholds for block trading are lowered with the aim to attract more investors to participate in block trading. The thresholds for the block trading of A shares, B shares, and funds are lowered to about 60% of former standards, and those for the block trading of treasury bonds and repo of bonds will be decreased to the same standards as those for other kinds of bonds.