Top Interest Rate Headlines 11-01-2011: DTCC Applies To Register Swap Data Repository For Multiple Asset Classes with CFTC

ICAP opens Washington, D.C. government relations office
Press Release
ICAP Plc (IAP.L), the world’s leading interdealer broker, announced today that it has officially opened its Government Relations office in Washington, D.C.  The office is located at 600 Pennsylvania Avenue, S.E., and headed by Patrick McCarty, Managing Director of ICAP Government Relations and Regulatory Affairs in the United States.   
http://jlne.ws/th3PMV

MGEX Clearing House suspends MF Global Inc.’s trading and clearing privileges 
http://jlne.ws/ufY5IE

DTCC Applies To Register Swap Data Repository For Multiple Asset Classes with CFTC
Press Release
The Depository Trust & Clearing Corporation (DTCC) announced that it had filed a registration application with the U.S. Commodity Futures Trading Commission (CFTC) to operate a swaps data repository (SDR), DTCC Data Repository (U.S.) LLC, across multiple OTC derivatives asset classes.
http://jlne.ws/vB3EED

MF Global Customers Call SIPC Asking for Money After Bankruptcy
Bloomberg
Customers of bankrupt broker-dealer MF Global Inc. have been calling the Washington offices of the Securities Investor Protection Corp. today asking for their money, a lawyer for the corporation said.
http://jlne.ws/tvpYwV

CME Group: MF Global violated customer cash rules
Associated Press
MF Global, the securities firm led by former Goldman Sachs chief Jon Corzine, broke rules requiring it to keep clients' money and company funds in separate accounts, the head of the Chicago Mercantile exchange said Tuesday.
http://jlne.ws/tGXP9L

CME Investigating MF Global
By BEN PROTESS and MICHAEL J. DE LA MERCED, NY Times
The investigation into hundreds of millions of dollars in missing money at MF Global has widened, as the CME Group confirmed on Tuesday that the brokerage firm failed to keep customer money separate from company money.
http://jlne.ws/vfVn3P

Juncker Doesn’t Rule Out Greek Default If Referendum Vote Is No
By Angela Cullen and Wolfgang Driessler, Bloomberg Businessweek
Luxembourg Prime Minister Jean-Claude Juncker said he can’t exclude the possibility of a Greek default if the Mediterranean country’s people vote against the latest bailout package in a referendum. Juncker made the comments in an interview with RTL Radio today.
http://jlne.ws/t3PpEB

ISM manufacturing gauge slows to 50.8% in October
By Jeffry Bartash, MarketWatch
Growth in the U.S. manufacturing sector decelerated in October as production and inventories declined, according to a closely followed index. The Institute for Supply Management's manufacturing gauge dropped to 50.8% last month - just slightly above a 2011 low - from 51.6% in September. Economists surveyed by MarketWatch had expected the index to rise to 52.1%.
http://jlne.ws/vN6W3k

Greek PM Papandreou faces party revolt day after he called a referendum on the proposed EU bailout
Greece's government is holding an emergency meeting following a day of turmoil triggered by PM George Papandreou's announcement of a referendum on the proposed EU bailout.
http://jlne.ws/u44cHy

China’s Manufacturing Index Declines for First Time in 3 Months on Orders
Bloomberg
A Chinese manufacturing index dropped to the lowest level since February 2009, bolstering the case for fiscal or monetary loosening to support the expansion of the world’s second-biggest economy.
http://jlne.ws/v5I1gk

U.K. Economy Rebounds
BY AINSLEY THOMSON AND ALISTAIR MACDONALD, WSJ.com
The U.K. economy grew more than expected in the third quarter as it rebounded from one-time disruptions earlier in the year, but the underlying picture remained fragile in a country now suffering its weakest recovery from recession since World War I.
http://jlne.ws/w0mwkX

Economists React: U.K. Data No Cause for Celebration Real Time Economics
WSJ.com
In its preliminary estimate, the U.K. said third-quarter gross domestic product, boosted by healthy growth in the dominant services sector, grew 0.5% after growing by just 0.1% in the second quarter.
http://jlne.ws/tBYlNF

CFTC-SEC Statement on MF Global
The Commodity Futures Trading Commission and Securities and Exchange Commission today made the following joint statement: "For several days, the SEC, CFTC and other regulators had been closely monitoring developments affecting MF Global, Inc., a jointly registered futures commission merchant and broker-dealer, in anticipation of a transaction that would include the transfer of customer accounts to another firm. Early this morning, MF Global informed the regulators that the transaction had not been agreed to and reported possible deficiencies in customer futures segregated accounts held at the firm. The SEC and CFTC have determined that a SIPC-led bankruptcy proceeding would be the safest and most prudent course of action to protect customer accounts and assets. SIPC announced today that it is initiating the liquidation of MF Global under the Securities Investor Protection Act (SIPA).”
http://jlne.ws/tXdvwc

FBI, Federal Prosecutors to Join Inquiry into Corzine Firm
NBC
Federal prosecutors and the FBI are set to join the inquiry into what happened to hundreds of millions of dollars invested with a securities firm headed by former New Jersey Gov. Jon Corzine, officials familiar with the case told NBC New York.
http://jlne.ws/w1UVNl

MF Global Suspended As Primary Dealer, But Treasurys Impact Seen Limited
By Cynthia Lin and Min Zeng Of DOW JONES NEWSWIRES
The Federal Reserve Bank of New York suspended MF Global Inc. from conducting new business with the government as a primary dealer, but the move likely won't have a big impact on the Treasurys market, traders and analysts say.
http://jlne.ws/s5cQN6

FSA Puts MF Global UK Into Special Administration Regime
By Marietta Cauchi Of DOW JONES NEWSWIRES
The Financial Services Authority on Monday said that MF Global UK Ltd. has entered the Special Administration Regime, the first time the scheme has been used following its implementation earlier this year.
http://jlne.ws/sOkaXl

Denmark's Danske Bank to cut 2,000 jobs
AFP via Yahoo! News
Denmark's biggest bank, Danske Bank, will cut 2,000 jobs as part of a three-year savings programme, it said on Tuesday as it posted a surprise third-quarter net loss amid poor global economic growth.
http://jlne.ws/rZoXvY

Credit Suisse axes jobs, eyes emerging markets
AFP via Yahoo! News
Swiss banking giant Credit Suisse said on Tuesday it will slash another 1,500 jobs while reorientating itself to capture the fast-growing emerging markets of Brazil, China, Russia and Southeast Asia.
http://jlne.ws/tNmlwl

Nomura Posts First Loss in Two Years, Bigger Than Expected
BusinessWeek
Nomura Holdings Inc., Japan's largest brokerage, posted a bigger-than-expected quarterly loss, its first in more than two years, as income from trading, investment banking and overseas businesses declined.
http://jlne.ws/rFOYDm