EXCHANGE NEWSWIRE, 8 February 2010
SGX, Bursa Malaysia, Philippine Stock Exchange, and Stock Exchange of Thailand appointed NYSE Technologies as a solution provider to begin the design of the technology solution for the ASEAN Trading Link. The four exchanges are planning to allow cross-border trading amongst them.
NASDAQ OMX 4Q09 EPS was $0.46 (-12% Y/Y), one cent above consensus estimates. Net revenues declined 8% Y/Y to $369 mn, $5 mn above consensus. Transaction services revenues were down 17% Y/Y due to lower cash equity trading revenues in USA and Europe. Market data revenues decreased 2% Y/Y on lower US tape revenues, partially offset by higher US market data products. Market technology revenues were up 26% Y/Y on strong deliveries of technology contracts. NASDAQ OMX raised the cost guidance for FY10 by 3% to the $865 mn to $885 mn range, including $50 mn in non-recurring costs.
NASDAQ OMX launched its INET trading system in its seven equities markets in the Nordic and the Baltic regions.
NASDAQ OMX CEO Robert Greifeld said “It seems to be an opportune time for us to do something different” with the NEURO MTF. “Clearly we led with low pricing and with a smart order router and with the benefit of hindsight we probably should have led with a consortium-led effort.”
NYX US matched ADV was down 23% Y/Y to 2.4 bn shares in January, with matched market share down to 26.5%. The number of EU cash equity daily trades rose 4% Y/Y to 692k. Liffe ADV ex Bclear was 3.05 mn, up 30% Y/Y on higher interest rate products. ADV in US options doubled from January 2009 to 4.2 mn contracts.
NYX today appointed Robert G. Scott, former President and COO of Morgan Stanley as an independent member of the Board of Directors.
ITG January US ADV was 184 mn shares, down from 202 mn shares in January 2009 but up from 157 mn shares for December.
BVMF3 set a new record in its derivative segment with 79,672 trades and R$139 bn in notional of interest rate futures on Thursday 4-Feb.
BVMF3: Multiplus listed its shares on the Novo Merdado on 5-Feb.
ICE announced the first cleared trades of its Platts Iron Ore 62% IODEX swap contract submitted to ICE Clear US on 5 February by London Dry Bulk.
ASX released its review of algorithmic trading and market access stating that algorithmic trading has not been inherently harmful to market integrity or quality in Australia. This is supported by SIRCA, which concluded that algorithmic trading had not led to a deterioration of market quality.
NSE´s upgraded trading system went live today.
PLUS Markets appointed Cyril Theret, current Business Development Director, as CEO; Simon Brickles, current CEO, as Vice Chairman and Giles Vardey as Non-Executive Chairman.
Chi-X Canada and Atrium Network announced that the first Canadian live market ecosystem will be launched in mid-March.
EMCF cleared trades surpassed 5mn daily mark on Friday Feb-6, +20% above previous record.
EEX released a report that shows that using a clearinghouse is cheaper than hedging counterparty exposure OTC.
Tokyo Stock Exchange President Atsushi Saito said dark pools should be banned due to their lack of transparency and their potential for triggering another crisis. Saito also said he is calling on the Japanese government to give new companies tax breaks to help them grow and boost the Japanese IPO market.
Tullett Prebon launched a new OTC brokerage business in Japan for Nikkei options and Delta one products. It will be managed by Patrick Maloney who has 15 years of experience in the
Japanese market.
E*TRADE announced new pricing that eliminates its $12.99 commission tier and account activity fees. E*TRADE´s rate per trade will be $9.99 or less per stock and options trade (plus a $0.75 per options contract fee), while higher volume traders will continue to enjoy the current $7.99 per trade rate. In addition, E*TRADE Securities has eliminated annual IRA account fees; a per share commission formerly applied to market trades larger than 2,000 shares; and, effective in 2Q10, all account service fees.
CME was upgraded to "Buy" from "Hold" at Jefferies. Target price was maintained at $330.
ICE was upgraded to "Positive" from "Neutral" at Susquehanna. The target price was set at $114 per share (first rating).
Julius Baer target price was reduced to CHF36 from CHF40 at Vontobel and maintained a “Hold”.
Julius Baer target price was reduced to CHF 38 from CHF 43 at Deutsche Bank. Rating was maintained at “Hold”.
ICAP was upgraded to "Outperform" from "Neutral" at Credit Suisse. Target price was cut to GBp410 from GBp495.
ICAP was downgraded to "Fairly Valued" from "Buy" at Singer Capital Markets. Target price was cut to GBp320 from GBp500.
MasterCard was upgraded to “Outperform” from “Market Perform” at Wells Fargo. No target price was provided.
India´s Corporate Affairs Minister Salman Khurshid said “India should have multiple exchanges to achieve penetration of 100 mn investors from around 15 mn investors at present. In principle we are open to the idea of having more exchanges.”
Provided By: Equity Research Desk, www.erdesk.com