Latest Market Intelligence on Global Capital Market Infrastructures

February, 2011

Thomas Murray - Monthly Newsletter

As a local market infrastructure entity or interested participant, Thomas Murray is pleased to send you our February 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, 150 Central Securities Depositories and have Capital Market Infrastructure Risk Rating Reports on over 90 markets worldwide, assessing the post trade risk exposures faced by international investors.

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Top Stories

Global - Consultation on CSD Regulation and Harmonisation of Settlement Cycles in EU

On 13 January 2011, the European Commission launched a public consultation on the regulation of Central Securities Depositories (CSDs) and the harmonisation of settlement (including a uniform T+2 cycle) across Europe...

Nigeria - Suspension of Brokerage Firms

The Nigerian Stock Exchange (NSE) has decided to suspend 57 brokerage firms, effective from 19 January 2011, for failing to hold a minimum capital base of NGN 70 million. Nevertheless, the suspended participants...

Philippines - SCCP Seeks Public Comment on Block Trades Settlement Facility

The Securities Clearing Corporation of the Philippines (SCCP) has released a memorandum seeking public comment on the proposed rules and operating procedures for the settlement of block sales. SCCP proposes to settle block sale transactions...

Romania - System Upgrade at Central Depository

Further to our previous newsflash, the Romanian Central Depository (CD) has announced that as of today, 25 January 2011, its RoClear system provides new facilities to ensure that the mechanisms...

Russia - CBR to Increase Minimum Capital Requirement for Banks

The Central Bank of Russia (CBR) has introduced its plan to increase the minimum capital requirements for banks. Accordingly, the minimum capital requirement for participated banks will increase from the current RUB 90 million...

USA - SEC Adopts New Rules on Asset-Backed Securities

The Securities and Exchange Commission (SEC) has adopted new rules regulating Asset-Backed Securities (ABS). The rules were designed to promote the ABS market as well as to enhance the disclosure requirements in such market...

Total Number of Thomas Murray Flashes Issued: January 2011

Depository/CSD Risk Flashes: 83 (857 year on year)
Capital Market Infrastructure Risk Flashes: 83 (891 year on year)

Worth Knowing

Depository Risk Flashes

Chile - DCV Maintains Its Price Discounts

Israel - Launch of a New Extranet Version

Montenegro - Thomas Murray Issues Proprietary Rating to CDA (Montenegro)

Netherlands - Full Dematerialisation of Dutch Securities at Euroclear Nederland

Pakistan - CDC to Enhance Settlement Process - Update

Capital Market Infrastructure Risk Rating Flashes

Canada - OSC to Review the Protection of Shareholders’ Rights and Corporate Governance

Mauritius - Securities Trading and Settlement In Foreign Currency

Taiwan - Liberalisation on Pre-delivery Requirement for Full Delivery Stocks

Turkey - ISE Launches Interbank Repo Market

Ukraine - SCSSM Introduces New System to Disclose Issuers' Information - Update

UK - London Stock Exchange New Trading System - Update

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Derek Duggan, Director, Data Services
Tel: +44 (0)20 8600 2300