FINRA is filing with the SEC a proposed rule change to amend FINRA Rule 7620A to modify the "Late Report - T+N" fee applicable to members that use the FINRA/Nasdaq Trade Reporting Facility (the "FINRA/Nasdaq TRF"). View Proposed Rule Change here (links externally to FINRA website).

The European Banking Authority has published a risk assessment report on the European Banking System, which provides an update on potential risks and vulnerabilities. Highlights of the report include observations that: Markets for bank funding have improved, as well as secondary market prices for debt and equity; Spreads remain high and the level of asset encumbrance could create an adverse effect on the availability and cost of funding; and Although banks have significantly strengthened their capital positions, concerns remain about the quality of banks’ asset and valuation criteria in many

CME Clearing Europe added two new over-the-counter (OTC) European natural gas forward contracts for clearing: the United Kingdom (UK) National Balancing Point (NBP) Natural Gas Physically Delivered Forward contract and the Netherlands (NL) Title Transfer Facility (TTF) Natural Gas Physically Delivered Forward contract. These contracts will be listed for clearing on CME ClearPort and will be subject to the rules of CME Clearing Europe, CME Group's European clearing house. The contracts will launch on February 25, 2013 subject to approval by the Financial Services Authority (FSA). View Press

We are attaching an Energy Metro Desk article on the departure of Commissioner Jill Sommers from the CFTC and the potential ramifications of her departure. See also our prior news item on the topic: CFTC Commissioner Jill Sommers Announces Resignation (with Lofchie Comment) Click here to view the article in full.The attached is an excerpt from the most recent issue of Energy Metro Desk, which is published bi-weekly by Scudder Publishing Group, an energy trade news publishing company based in the Washington, D.C. metropolitan area. Those interested in learning more about the Energy Metro Desk

The attached is an article from Energy Metro Desk on the dispute over the CME's proposed rule to require that swaps cleared on the CME be reported to the CME as swap data repository. Generally, the article reaches the same conclusion as in our recent news stories on the topic, (see Battle Over Swaps Trade Reporting (with Lofchie Comment) CFTC Extending Period for Accepting Public Comment on a CME Request to Adopt New Chapter 10 and New Rule 1001 of CME’s Rulebook), but provides a somewhat fuller discussion of the topic. Click here to view the article in full.The attached is an excerpt from the