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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 October 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.


Hong Kong - HKSCC to Increase the Penalty Fee for Securities Settlement Failure

Hong Kong Securities Clearing Company Limited (HKSCC) is planning to increase the penalty fee for securities settlement failure and will submit the proposed changes to the Securities and Futures Commission (SFC)...

USA - DTC to Increase its Liquidity Resources

The Depository Trust Corporation (DTC) has proposed to increase its fails management resources to USD 3.2 billion in order to ensure that the settlement obligations would be completed in case...

Russia - RTS Introduces New Settlement Cycles for Non-anonymous Trades with CCP

Effective from 25 September 2008, the Russian Trading System (RTS) non-anonymous (negotiated) trades conducted through the Central Counterparty (CCP) which currently settle on T+4 (standard settlement cycle)...

UK - FSA Statement on Short Positions in Financial Stocks

The Board of the Financial Services Authority (FSA) agreed on 18 September 2008 to introduce new provisions to the Code of Market Conduct to prohibit the active creation or increase of net short positions in...

Singapore - DRP test at SGX

The Singapore Exchange Ltd (SGX) has announced that they will conduct their annual industry Disaster Recovery Plan (DRP) test with market participants on 18 October 2008...


Total Number of Thomas Murray Flashes Issued: Sept 2008

Depository/CSD Risk Flashes 126 (848 year on year)
Capital Market Infrastructure Risk Flashes 107 (643 year on year)


Worth Knowing

Depository Risk Flashes

South Africa - STRATE Reduces Off-Market Settlement Fees

Taiwan - Implementation of DVP T+2 settlement cycle

Romania - Establishment of SIBEX Central Depository

UAE - DIFX to Revise Its Business Rules - Update

Italy - Default Procedure for Lehman Brothers International Europe Trades

Capital Market Infrastructure Risk Rating Flashes

Kuwait - KSE Issues Reminder on Short Selling

China - Possible 10% WHT on A-shares to QFIIs

Denmark, Finland, Iceland, Sweden - "Optional Clearing" Functionality

Ukraine - Parliament Adopted Joint Stock Companies Law

Belgium, France, Netherlands, Portugal - LCH.Clearnet and SecFinex to Launch First Central Counterparty for Stock Borrowing and Lending


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October 2008


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For further information contact:

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