Concerns raised over SFE/ASX merger

08 May 2006

The proposed friendly merger between Sydney Futures Exchange (SFE) and Australian Stock Exchange (ASX) (see FO Week Vol 11 No 13) has hit turbulence, with two of Australia's most powerful financial markets associations raising concerns.

Australian Financial Markets Association (Afma) and Securities and Derivatives Industry Association (SDIA) have separately announced that they have each lodged confidential submissions with the country's...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.