EXCHANGE NEWSWIRE, 27 April 2010
CFTC will extend oversight of 7 ICE energy contracts that perform “significant price discovery functions”. 16 other contracts evaluated (including a carbon contract from the Chicago Climate Exchange, and five from the Natural Gas Exchange) will not require further oversight.
DirectEdge appointed 10 board members for its new exchanges (EDGA and EDGX), including Scott Ganelles, CEO of Ipreo, Patrick Healy, CEO of the Issuer Advisory Group, Sam Miller, senior counsel at Orrick, Herrington & Sutcliffe, Mark Minister, former CEO of brokerage and transaction operations for SunGard Data Systems, George Muñoz, principal of Muñoz Investment Banking, Richard Schenkman, managing partner of Elm Tree Group, James Angel, a specialist in the structure and regulation of financial markets, Larry Bergmann, a lawyer with Willkie Farr & Gallagher, Stephen Brodsky, a managing director at Vernon & Park Capital and William Dailey, special counsel at Fox Rothschild.
CME introduced trading and clearing for six new petroleum futures contracts based on Platts' physical market price assessments in natural gas and fuel oil.
CME: distillers' dried grain with solubles futures contract recorded a total of 10 transactions during its first day of trading.
DB1 launched the EnBSol Historical Data Eurex and the EnBSol Historical Data Xetra providing historical order book information.
NASDAQ listed 41 instruments (including 15 IPOs) during 1Q10.
LSE: Italian banks may group to purchase Borse Dubai’s 20.6% stake in LSE according to Il Sole 24 Ore.
LSE started trading 16 new Société Générale ETNs and 12 from Barclays iPath offering real-time exposure to commodities and futures indices.
HKEx: the Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR) approved the reappointment of Ronald Arculli as Chairman of HKEx.
TSE’s board began considering the migration of futures trading to the Tdex+ system and the introduction of a Market Maker scheme for the futures market.
Tokyo Stock Exchange is planning to launch a low-cost version of its co-location service by June. The new half-rack cabinet option will be charged at a basic rate of ¥400,000 per one-rack cabinet, compared to ¥750,000 for its standard offering.
Bursa Malaysia plans to expand the product offering on Bursa Suq Al-Sila in the next year, according to CEO, Datuk Yusli Mohamed Yusoff. He indicated that "our team is still looking at sourcing the supply and the various type of commodities that can be used."
BMV approved its first dividend of MX$0.68 per share payable on May 4.
The Green Exchange filed with the CFTC for independent exchange status. The exchange would also seek FSA recognition to offer EUA in Europe.
RTS will change its trading hours from 10:00 am to 6:45 pm MSK on all of its markets, begining May 17.
The Irish Stock Exchange will rename its Main Market and the Irish Enterprise Exchange (IEX) as Main Securities Market (MSM) and Enterprise Securities Market (ESM) respectively, starting May 10.
The Irish Stock Exchange admitted Fortis Bank Global Clearing as a general clearing member, totaling a membership base of more than 40 firms.
MCX-SX is planning to launch equities trading in the next two to three months, pending regulatory approval.
Fixnetix completed its US low latency ultra high speed 10Gb+ network with the addition of 6 US colocation centres using Cisco technology.
Invesco closed its $1.46 bn Mortgage Recovery Fund, part of the PPIP program.
WDR: company officials said that flows are diversifying beyond the company’s two largest (and best selling) funds (Asset Strategy and Global Natural Resources), with gross sales of “other” products totaling $900 mn in 1Q10 (up from $800 mn in 4Q09).
Jefferies launched an ETF tracking the VIX Futures Index.
JPMorgan: Highbridge Capital launched the Dynamic Commodities Strategy Fund, its first commodity fund.
optionsXpress reported 1Q10 EPS of $0.21 on revenues of $57.0 mn (+16% y/y) and net income of $11.9 mn. DARTs declined -%5 y/y to 44.6k and net new account were 6,500 and customer accounts increased +9% y/y to 357.7k, with customer assets of $7.5 bn (+47% y/y).
NASDAQ OMX was downgraded to "Neutral" from "Positive" at Susquehanna. No target price was provided.
The EU Commission received approval from the Members of the European Parliament to re-open negotiations with the US over the provision of access to EU financial messaging data passed over the international Swift network.
House Ways and Means Committee Chairman Sander Levin commented a proposal to tax hedge fund and private equity managers’ income as ordinary income (35%) instead of as capital gains (15%).
The Senate Agriculture Committee approved a legislation exempting defined benefit plans from taking a fiduciary obligation when entering into a swap.
The American Gas Association said that speculation in the natural gas, crude oil and gasoline has to be curbed and commented that “price volatility, sudden increases in price in particular, present significant challenges for both consumers and the gas utilities.”
SEBI appointed a panel to review the regulatory architecture of stock exchanges and their ownership structure
Provided By: Equity Research Desk, www.erdesk.com