Latest news with #IOSCO
Time of India
6 days ago
- Business
- Time of India
Jane Street probe: SEC seeks Sebi details as investigation continues; Rs 4,843 crore gains under lens
Representative image The US Securities and Exchange Commission (SEC) has asked the Securities and Exchange Board of India (Sebi) for details on its ongoing investigation against Jane Street, a New York-based proprietary trading firm accused of manipulating India's derivatives market. People familiar with the development were quoted by ET as saying that Sebi has already responded to specific queries raised by the SEC. Under Articles 6 to 8 of the IOSCO multilateral agreement, regulators who are signatories are obliged to share information with one another. According to ET, Sandeep Parekh, who is managing partner of Finsec Law Advisors, said, 'As both are signatories, the SEC can seek any information required and Sebi would be obliged to give it for regulatory action or investigation'. He noted this framework had earlier been used by Sebi in its probe into UBS. On July 3, Sebi issued an interim order barring Jane Street from trading and directed it to deposit Rs 4,843.57 crore, the alleged illegal gains from manipulation. The firm complied, placing the full amount in an escrow account. Following this, Sebi conditionally lifted the trading ban on July 21. As per news agency ANI, the decision drew appreciation from legal and market experts who saw it as a fair balance between due process and investor protection. Jane Street, which deploys complex high-frequency algorithms and operates across major global markets, has not legally contested Sebi's findings yet. However, the firm has maintained that it reserves the right to pursue legal and equitable remedies. According to sources cited by ET, Jane Street has been informed of the hearing dates and its lawyers are preparing a formal rebuttal. Sebi's order alleged that Jane Street used its 'trading, financial and technological prowess' to manipulate the Bank Nifty Index through aggressive morning buying and late-day selling patterns. The manipulation allegedly impacted index levels near expiry and harmed retail investors on the opposite side of the trade. The regulator has invoked the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations and used Jane Street's trading data from about 20 profitable days to quantify illegal gains. Legal experts argue that Sebi's methodology focused only on a few profitable days, rather than evaluating a full set of trades. 'It picked the winning days out of many days of winning and losing trades,' a securities lawyer said, as per ET. Sebi's investigation is ongoing and could be expanded to include the NSE Nifty Index and other stocks. It has also asked exchanges to monitor Jane Street's future trades closely. A confirmatory order will be issued after the hearing process concludes. Corporate lawyer HP Ranina, speaking to ANI, called Sebi's move 'objective and fair,' stating that if the firm is cleared, the deposited money would be refunded. Market expert Sunil Shah praised Sebi for protecting retail investors, adding, 'I hope they will monitor these things further so that in future, no big institution can take advantage of small investors Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
07-07-2025
- Business
- Yahoo
SONAR Enhances Oracle's OTM Integration and Launches Shipper Consortium for Unmatched Supply Chain Benchmarking
SONAR is proud to announce significant upgrades to its integration with Oracle Transportation Management (OTM), bringing real-time freight market intelligence directly into OTM workflows through a partnership with Redwood Connect. Just in time for the OTM Sig conference, this enhanced integration also introduces SCORE, SONAR's exclusive shipper consortium, enabling actionable benchmarking insights and accelerated return on investment. Seamless Integration for Smarter, Faster Decisions Powered by Redwood Connect's Integration playbook, SONAR's OTM integration solves persistent shipper challenges such as outdated benchmarks and lack of timely visibility. Oracle OTM cloud customers now have embedded access to SONAR's high-frequency market insights, including: TRAC Spot Rates: real-time, IOSCO/SOC2 compliant benchmarks Contract Rates: invoice-derived cost benchmarks Tender Rejection & Volume Indexes: forward-looking market direction signals Lane Capacity Scores: intelligent insights for lane level negotiations With over $200B in annual freight spend and 1,000+ unique market inputs, SONAR delivers near real-time freight trends, with <24-hour data freshness. Introducing SCORE: Collaborative Benchmarking, Redefined A key feature enhancement includes one-click data contribution from OTM into SCORE, made available via Redwood Connect. SCORE offers the most accurate, confidential, and tailored benchmarking platform in freight, with benefits including: Tailored Insights: benchmark your performance against true peers with granular insights Collective Intelligence: anonymized data sharing drives smarter industry-wide practices Negotiation Strength: validate procurement strategies and reduce negotiation cycles Multimodal Benchmarking: truckload, LTL, intermodal, drayage, air and ocean- by lane, mode and commodity. Currently, 14 shippers have joined SCORE, representing $9B in transportation insights, with 34 more in legal reviewing totaling over $100B in potential contributions. Join us at OTM Sig The enhanced SONAR and OTM integration, transforms benchmarking from a backward-looking report into a proactive strategic tool. Visit the SONAR team at OTM Sig, at booth G9, to learn how to activate this integration and join the future of freight intelligence. About SONAR SONAR is the leading high-frequency freight market analytics platform, delivering actionable insights across all transportation modes. Trusted by industry leaders, SONAR empowers organizations to navigate market volatility, optimize transportation strategies, and drive measurable savings. About RedwoodConnect RedwoodConnect is the integration platform that powers logistics execution and supply chain technology orchestration. Any protocol. Any format. Any system. It'll become the foundation of the digital transformation you're looking for. The post SONAR Enhances Oracle's OTM Integration and Launches Shipper Consortium for Unmatched Supply Chain Benchmarking appeared first on FreightWaves.
Daily News Egypt
17-05-2025
- Business
- Daily News Egypt
Egypt to host IOSCO's 2026 annual conference for first time
In a landmark achievement, Egypt—represented by the Financial Regulatory Authority (FRA)—has secured the bid to host the 51st Annual Conference of the International Organization of Securities Commissions (IOSCO) in 2026. This marks the first time in the country's history that it will host this prestigious global event, underscoring international recognition of Egypt's regulatory progress in non-banking financial markets, particularly in the capital markets sector. The announcement was made during IOSCO's 2025 annual meeting in Doha, Qatar, following a competitive selection process. Egypt's successful bid is the result of sustained efforts by the FRA to enhance the efficiency, transparency, and competitiveness of its capital markets, reinforcing international trust in the country's regulatory and supervisory framework. Set to take place in the city of Sharm El-Sheikh, the conference will serve as a premier global platform for high-level dialogue. It will bring together policymakers, financial regulators, and capital market leaders from around the world to address pressing issues in global financial markets and explore strategies to promote financial stability and sustainable economic growth. Hosting the IOSCO Annual Conference is a testament to the FRA's leadership in reforming the legislative and regulatory landscape of Egypt's financial sector. Key advancements include improving the investment climate, fostering transparency, embracing digital transformation, and promoting sustainable finance—efforts aligned with international best practices and standards. FRA Chairperson Mohamed Farid emphasized that Egypt's selection reflects global recognition of its reform trajectory and offers a unique opportunity to showcase the country's progress to the international financial community. He highlighted the conference as a strategic avenue for forging new partnerships that support emerging markets. To maximize the conference's impact, the FRA has extended invitations to local and international regulatory bodies, financial institutions, experts, and academics. The goal is to make the event a hub for knowledge exchange and international cooperation in capital market development. During the IOSCO meeting in Doha, the FRA presented a promotional video highlighting the touristic appeal and organizational capabilities of Sharm El-Sheikh, further reinforcing its readiness to host a world-class event. Farid described Egypt's selection as a vote of confidence by IOSCO members in the FRA's capacity to foster collaboration, support market development, and help member countries adapt to evolving market dynamics. He stressed the importance of integrating innovative technologies and refining market mechanisms to boost market resilience and growth. He also noted that hosting the IOSCO Annual Conference provides Egypt with a strategic platform to underscore its role as a regional financial hub and to amplify its reform experience on a global stage. IOSCO is the world's leading body for setting international standards in securities regulation, aimed at ensuring fairness, transparency, efficiency, and effective risk management across financial markets. The organization includes 229 members, representing about 95% of global securities regulators. Farid currently serves as Vice Chair of IOSCO and Chair of its Emerging Markets Committee. The IOSCO Annual Conference is one of the most influential global gatherings dedicated to the future of capital markets. It typically features discussions on financial technology, sustainable finance, digital assets, and global financial stability—bringing together a broad range of stakeholders from around the world.
Qatar Tribune
15-05-2025
- Business
- Qatar Tribune
50th IOSCO annual meet concludes in Doha
QNA Doha The 50th annual meeting of the International Organization of Securities Commissions (IOSCO), hosted by Qatar Financial Markets Authority (QFMA) over three days, concluded its schedule in Doha on Wednesday, with the participation of delegations of IOSCO member states and capital market experts from around the world. Participants in this important international event discussed the key challenges and opportunities in regulating and developing financial markets, and ways to enhance transparency and financial stability regionally and internationally. During the last day, representatives of IOSCO Member States and participants held a meeting of the IOSCO's Diversity Network and the MMoU MG + signing ceremony. A roundtable meeting was also held between the Organization for Economic Cooperation and Development (OECD) and the IOSCO. As part of the last day's activities, CEO of QFMA and Chairman of the IOSCO's Presidents Committee, Dr Tamy Bin Ahmad Al Binali, chaired the meeting of the Presidents Committee, which is one of the most important strategic meetings on the IOSCO agenda. The meeting was attended by IOSCO Secretary General Rodrigo Buenaventura and IOSCO Board Chair Jean-Paul Servais as well as the presence of the chairs of the IOSCO Committees and bodies, representatives of Member States, and many international financial institutions. During the Presidents Committee meeting, Dr Al Binali expressed his happiness at the presence of IOSCO members and participants in Doha, welcoming them to Doha. 'Today, Qatar stands as a regional and global hub where traditions dictate modern governance, and economic transformation is driven by a long-term vision, stability, and innovation,' he said. 'It is particularly fitting that we are gathering in Qatar to celebrate a significant milestone in the global regulatory landscape — the 50th Annual Meeting of IOSCO. For five decades, IOSCO has upheld the integrity of capital markets, promoting transparency, fairness, and resilience across various jurisdictions. 'As we look back on IOSCO's 50-year journey, let's consider how far we've come—from ticker tapes and trading pits to tokenized assets and decentralized exchanges. What used to take days now happens in seconds. 'What was once regional is now immediately global. IOSCO's evolution reflects this transformation. From a modest network of national regulators, it has become a global standard-setter, representing over 95% of the world's securities markets across 130 jurisdictions'. Dr. Al Binali continued, saying that throughout financial crises, systemic shocks, and waves of innovation, IOSCO has remained committed to its mission: to protect investors, uphold market integrity, and safeguard financial stability. Now, as we reach the frontier of artificial intelligence, crypto-assets, and real-time supervision, we are once again called to lead rather than simply react. He added that in 2023, global trading volumes in digital assets reached record levels, with some months exceeding USD 10 trillion. This trend highlights the rapid changes occurring in the market. At the same time, many financial institutions have reported using AI tools for various market functions. Regulators are also increasingly adopting AI to improve surveillance, compliance oversight, and data-driven supervision. These developments are not future trends; they are current realities. Dr. Al Binali explained that in response, IOSCO has taken significant action by issuing global guidance on the regulation of crypto-assets, decentralized finance, and the responsible use of AI in capital markets. 'However, the work ahead involves more than just creating rules. It is important to focus on implementation and capacity building. Most importantly, we must ensure that investor protection remains our top priority throughout this rapid transformation. 'From Qatar's perspective, our digital transformation is a strategic initiative that is closely aligned with our National Vision 2030. This vision places digital innovation at the core of a knowledge-based and globally connected economy. The Third Financial Sector Strategy supports this vision by highlighting the importance of fintech, digital resilience, and agile regulation'. He added that in line with these national strategies, the QFMA's 2023–2027 Strategic Plan focuses on several key areas, including a FinTech Sandbox, tokenization frameworks, smart contracts, robo-advisory services, and advanced regulatory technology (RegTech) and supervisory technology (SupTech) systems. Additionally, we collaborate with regional and global partners to ensure that our frameworks remain adaptive, compatible, and driven by innovation. This approach reflects Qatar's commitment to leading the way in establishing credible and future-ready digital regulations. Dr. Al Binali expressed that he strongly believes that IOSCO must evolve into the leader in building trust within digital capital markets. 'We need to establish principles that are not only relevant on a global scale but also prepare for the future, with a strong focus on protecting investors in every jurisdiction, regardless of size,' he said. 'Let this meeting mark an important moment where we commit to guiding the digital age with courage, clarity, and a united determination. The future of global capital markets is being shaped now; Let us write it together — wisely, boldly, and in the service of those we are here to protect'. During the Presidents Committee meeting, they addressed IOSCO's 50-year legacy and priorities. The meeting dealt with the IOSCO general policies and ways to coordinate efforts among members to contribute to enhancing the efficiency and fairness of global capital markets. They also discussed the presentation of the IOSCO leadership report on IOSCO's work since the last Annual Meeting. The Presidents Committee meeting also witnessed a public discussion moderated by the IOSCO Secretary General covering Suptech, Artificial Intelligence, and Crypto Regulation—including implementation and capacity building. For their part, the participants in the meeting praised the good organization and hospitality of Qatar, stressing the importance of continuing such meetings to enhance cooperation and exchange of experiences among the global capital markets regulator. The 50th IOSCO annual meeting was attended by a group of many decision-makers, representatives of global regulators and experts in capital markets. IOSCO is one of the key international organizations concerned with regulating and developing capital markets and enhancing cooperation among global capital market regulators. Its membership includes more than 130 regulators around the world, working to enhance transparency, protect investors, and ensure the stability of international capital markets.
The Star
14-05-2025
- Business
- The Star
SC signs IOSCO EMMoU to strengthen market integrity, safeguard investor interests
KUALA LUMPUR: The Securities Commission Malaysia (SC) today signed the International Organisation of Securities Commissions' (IOSCO) Enhanced Multilateral Memorandum of Understanding concerning consultation and cooperation and the exchange of information (EMMoU), highlighting its commitment towards maintaining market integrity and safeguarding investor interests. SC chairman Datuk Mohammad Faiz Azmi said the EMMoU also demonstrates the SC's unwavering support regarding international enforcement cooperation. "This is very timely as the increasingly interconnected nature of global financial markets necessitates international cooperation to address issues such as securities fraud,' he said in a statement today. The signing ceremony was held in conjunction with IOSCO's annual meeting, where the SC, the Capital Markets Authority (CMA), Kenya and Comisión Nacional del Mercado de Valores (CNMV), Spain joined the 27 IOSCO members who are already signatories of the EMMoU. The EMMoU allows its signatories to avail themselves of the latest forms of cross-border assistance to increase the effectiveness of investigation and enforcement. Mohammad Faiz signed the EMMoU in the presence of IOSCO members during the last day of the IOSCO Annual Meeting, which ran from 12-14 May 2025 in Doha, Qatar. The IOSCO annual meeting is a key forum where members discuss important issues related to global securities and futures markets. The meeting serves as a platform for sharing information, coordinating the enforcement of securities regulations, and implementing common standards, aiming to strengthen the global regulatory framework for financial markets. - Bernama
