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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 July 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.

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United Arab Emirates - SCA Approves Regulations on Custody Services and Allows Proprietary Trading for Brokers

The Securities and Commodities Authority (SCA) has approved new draft regulations for custody services in order to ensure transparency and alignment in the local markets. The regulations specify the following requirements...

Uganda - Uganda to Establish CDS

The Uganda Securities Exchange (USE) plans to implement a new central depository system and the electronic trading system in the coming months. The Securities Central Depository System (CDS) bill was passed by the Ugandan...

Chile - New Clearing and Settlement Law

The Chilean Congress published a new Law (20,345) on Clearing and Settlement of Financial Instruments on 6 June 2009, which complements the Securities Market Law (Law 18,045). The new law incorporates the following...

Philippines - PDTC to Migrate to a New Depository System

The Philippine Depository and Trust Corporation (PDTC) will be migrating to a new system on 29 June 2009. The new system, eClearSettle (eCS), will replace the legacy system, Fintracs. There will be no change in...

Poland - KDPW to Establish CCP Fund

Krajowy Depozyt Papierów Wartosciowych SA (KDPW), the Polish CSD, has developed a draft proposal to establish a separate Central Counterparty (CCP) fund for securities settlement of transactions at the Warsaw Stock Exchange (WSE)...

Total Number of Thomas Murray Flashes Issued: Jun 2009

Depository/CSD Risk Flashes 98 (986 year on year)
Capital Market Infrastructure Risk Flashes 103 (929 year on year)

Worth Knowing

Depository Risk Flashes

Thailand - TSD to Integrate Clearing Operations into TCH - Update

Zambia - Account Segregation at LuSE CSD

Turkey - SWIFT Integration Project of Takasbank and the CRA - Update

Netherlands - Euroclear Nederland to Offer Shareholder Rights Service

Canada - CDS to Introduce CALMS

Capital Market Infrastructure Risk Rating Flashes

Mauritius - SEM to Start Trading in Futures Contracts

Bahrain - BSE to Set Up Business Continuity Centre

Russia - Secondary Trading of Government Securities to be Allowed on All Russian Stock Exchanges

Denmark - Introduction of Punitive Measures for Failed Settlements - Update

Vietnam - MOF Issued Decision on the Regulation of the OTC Market - Update

Panama - Latinclear Improved Its IT Platform

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July 2009

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For further information contact:

Derek Duggan, Director.
Tel: +44 (0)20 7830 8300
Email: dduggan@thomasmurray.com