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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 August 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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Mexico - Indeval Automated the Return of Coupon Payments on REPO Transactions

Effective 6 July 2009, the Central Securities Depository, S.D. Indeval (Indeval) enhanced its income protection functionality for fixed income REPO transactions in Indevalís DALI system applicable to bankerís acceptances...

Sri Lanka - Multiple Settlement Banks Appointed for CDS

Following a request for proposal issued in June 2009, the Colombo Stock Exchange (CSE) appointed the following commercial banks to function as settlement banks for the Central Depository Systems (CDS)...

Hungary - KELER System Developments

KELER has announced details of its planned system enhancements for Q3 2009, to include developments in the separation of clearing and settlement services for stock exchange transactions to comply with the system guidelines...

Russia - FFMS Proposed New Capital Adequacy Ratio Requirements for Professional Market Participants

The Federal Financial Markets Service (FFMS) introduced a draft law to impose higher levels of capital ratio requirements for professional market participants pending approval from the Ministry of Justice...

Kenya - Change in Processing of High-Value Payments

The Central Bank of Kenya has issued a public notice advising that payments of KES 1 million and above will no longer be processed using cheques or electronic fund transfers through the Nairobi Automated Clearance house, as from 1 October 2009...

Total Number of Thomas Murray Flashes Issued: Jul 2009

Depository/CSD Risk Flashes 75 (982 year on year)
Capital Market Infrastructure Risk Flashes 84 (956 year on year)

Worth Knowing

Depository Risk Flashes

Peru - CAVALI to Launch New System

Croatia - Decision on Suitability of Transactions for Contractual Settlement

Hong Kong - HKEx Plans to Introduce a T+2 Finality Model for Securities and Cash Settlement

Denmark - Split Settlement for CCP Transactions

E.U. - Eurosystem and CSDs Sign MoU on T2S

Capital Market Infrastructure Risk Rating Flashes

Philippines - Plan for SCCP to Become a Depository

Venezuela - Settlement Cycle for Equities at BVC Reduced from T+3 to T+2

USA - SEC Issues New Rules on Short Selling - Update

Zimbabwe - Exchange Control Policy Deregulation - Update

Greece - Introduction of Clearing Member Structure - Update

Kuwait - Investors Not Under CBK Supervision to Have Multiple Custody Accounts - Update

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August 2009

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For further information contact:

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