Latest Market Intelligence on Global Capital Market Infrastructures

September, 2011

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, 130 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

China - CSRC Consults on Rules for Securities Financing

The China Securities Regulatory Commission (CSRC) has published a draft governing the regulation of securities financing for public consultation. The draft provides regulations for a central securities financing company which...

Italy - Late Settlement Penalties Model Amended

Following requests from the Italian authorities (Consob and Bank of Italy), Monte Titoli has reviewed its fails management procedures, focusing on the scheme of penalties for late settlement, in order to prevent failing trades...

Russia - Draft Law on CSD Concept - Update

Further to our previous newsflash, the Ministry of Finance has published the latest version of the draft law on the Central Securities Depository (CSD). The salient points of the law are as follows...

South Africa - Consultation on Financial Markets Bill

The National Treasury is seeking public comment on the Financial Markets Bill, 2011. The Bill will replace the Securities Services Act No. 36 of 2004 that has governed the regulation of securities services in South Africa since 2005...

UAE - Penalty Structure for Late Confirmation of Trades at DFM and ADX - Update

Further to our previous newsflash, the Dubai Financial Market (DFM) has waived, until further notice, the penalty for trades confirmed on T+3, i.e. after the settlement date (T+2). Consequently, as of 4 September 2011...

Total Number of Thomas Murray Flashes Issued: August 2011

Depository/CSD Risk Flashes: 90 (959 year on year)
Capital Market Infrastructure Risk Flashes: 88 (951 year on year)

Worth Knowing

Depository Risk Flashes

Romania - CDSA Implements SWIFT Messaging

Taiwan - TDCC Completes Dematerialisation of Listed Stocks

Turkey - CRA Launches The First Phase Of E-Govern

USA - Clean-up of Aged Fails in Select Globally Locked Securities

Zambia - BBB Operational Risk Rating Assigned to LuSE CSD

Capital Market Infrastructure Risk Rating Flashes

Botswana - BSE Plans to Shorten Settlement Cycle to T+3

Colombia, Peru - BVL and BVC Cancel Merger Agreement

Kazakhstan - KASE to Implement a Fully Pre-funded Model on a T+0 Cycle - Update

Malaysia - Guidelines on Outsourcing for Capital Market Intermediaries

Netherlands - Other Parties to Become SPAs

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For further information contact:

Derek Duggan, Director, Data Services
Tel: +44 (0)20 8600 2300
Email: dduggan@thomasmurray.com