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It added in a statement this upgrade was subject to omnibus account structures and same National Investor Number (NIN) cross trades being made available for international institutional investors before the end of November 2019.
On trade tensions, Berglund said trade wars have already had a negative effect on world economic growth and thereby on world trade, and a reduced economic and trade growth would impact European shipping as many of European shipowners are active in cross trades around the globe.
Cross Trades: For those markets that allow net orders to be sent for funds, new processing has been developed to offset purchase and sales into a single order across clients, achieving operational and trading efficiencies whilst reducing transaction costs.
Huang also evaded internal cross trade requirements and caused violations of regulatory prohibitions on cross trades by using a broker to effectuate the trades, the SEC says.
Global Banking News-June 1, 2015--BNP Paribas fined for unreported cross trades
According to the SEC, Shaw carried out a "more than eight-year best execution fraud" by manipulating time delays in systems for executing and reporting agency cross trades on a regional US exchange to the advantage of hedge funds clients and at the expense of accounts belonging to employee stock purchase plans, employee stock option plans, direct purchase and sale plans and other similar plans.
A fiduciary (other than the investment manager engaging in the cross trades of any affiliate) for each plan participating in the transaction authorizes in advance of any cross-trade (in a document that is separate of any other written agreement of the parties) the investment manager to engage in cross-trades at the investment manager's discretion, after such fiduciary has received disclosure regarding the conditions under which cross-trades may take place (but only if such disclosure is separate from any other agreement or disclosure involving the asset management relationship), including the written policies and procedures of the investment manager (see below);
This large volume is indicative of two cross trades executed on Tuesday and Friday, of 50,000 shares each.
''The dollar is also under profit-taking pressure in cross trades after the euro failed to touch its upside of 149 yen overnight,'' Harada said.
The agreement is based on the principle of freedom to provide maritime services, free access to cargoes and cross trades, unrestricted access to ports and auxiliary services and non-discriminatory treatment in the use of ports and auxiliary services.
The complaint charged that the five inflated Exsorber's stock price from $1 to $13 between November 1993 and February 1996 through a series of bribes and cross trades between the U.S.
The vessels suitable for worldwide trading, can be alternatively deployed in cross trades as per the opportunities available.