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Thomas Murray - Monthly Newsletter

As a local market infrastructure entity or interested participant, Thomas Murray is pleased to send you our September newsletter. This newsletter provides access to the top stories we reported on as part of our on-going surveillance of local capital markets worldwide. We currently track over 100 securities markets, 140 Central Securities Depositories and have Capital Market Infrastructure Risk Rating Reports on over 88 markets worldwide, assessing the post trade risk exposures faced by international investors.


Norway - VPS to Consider Making SBL Programme Mandatory for All Market Participants - Update

In an update to our previous newsflashes, VPS has decided to abolish the plan to make participation in the lending pool scheme mandatory for all participants after a consultation undertaken with its customers.

Taiwan - FSC Announces Market Reforms

The Financial Supervisory Commission (FSC) has announced some liberalization projects in a move to bring the market in line with international standards. The liberalizations are as follows...

United Arab Emirates - DIFX to Revise Its Business Rules - Update

Further to our previous newsflash, DIFX also issued a "Proposed Settlement Fails Memorandum" describing the fails management policy which is in line with the proposed framework...

Romania - CDSA to Undertake Clearing and Settlement of Government Securities - Update

Further to our previous newsflashes, the Bucharest Stock Exchange (BSE) will start trading in government bonds (fixed coupon and benchmark bonds) on 4 August 2008. These bonds will be traded on the secondary market...

Greece - Draft Bill for Two New Guarantee Funds

The Hellenic Capital Market Commission (HCMC) is preparing a draft bill for the creation of two settlement guarantee funds, one for brokerage houses that belong to a banking group and one for brokerage houses which...


Total Number of Thomas Murray Flashes Issued: Aug 2008

Depository/CSD Risk Flashes XX (YYYY year on year)
Capital Market Infrastructure Risk Flashes XX (YYYY year on year)


Worth Knowing

Depository Risk Flashes

Hungary - Business Continuity Testing

Russia, Belarus - NDC Account at RCDS

Vietnam - Cash Settlement Function to Be Transferred from BIDV to SBV - Update

Belgium, Netherlands - Cessation of Lending Programme

Nigeria - CSCS Appointed as the National Numbering Agency

Capital Market Infrastructure Risk Rating Flashes

Greece - Introduction of Clearing Member Structure - Update

India - SEBI Requires Payment of Margin for all Institutional Trades - Update

United Arab Emirates - Planned Reforms at DIFX

Malaysia - Waiver of Transfer Fee for ETF to be Extended

Cyprus - Government Bonds to be Traded on MTS - Update


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September 2008


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Derek Duggan, Director.
Tel: +44 (0)20 7830 8300