image EXCHANGE NEWSWIRE, 29 April 2010

CME reported 1Q10 EPS of $3.62 (+13% Y/Y; +19% Q/Q), 3c above consensus of $3.59 on revenues of $693 mn (+4% Y/Y; +7% Q/Q) and operating expenses of $279 mn (+5% Y/Y; 11% Q/Q). Net Income was $240 mn (+13% Y/Y) with an operating margin of 60% (flat Y/Y). One-time expenses of $10 mn from professional fees related to the Dow Jones JV were offset by $6 mn from the recovery of a bankruptcy claim and a $6m reduction in certain tax reserves.

 

 

BME reported 1Q10 EPS to €0.43 (+8% Y/Y), one cent above consensus estimates. Revenues increased 7% Y/Y to €77.6 mn, with higher equity trades partially offset by lower derivatives traded, listing and market data revenues. BME approved the distribution of an extraordinary dividend of €0.372 per share.

DB1’s IPO indicator shows that sentiment concerning IPOs on the German equities market is increasingly positive.

DB1: Xetra launched 10 commodity ETCs and 5 index ETNs issued by Royal Bank of Scotland.

HKEx approved 67 IPO’s applications in 1Q10, including Agricultural Bank of China that is expected by July and could become the largest IPO in history. : Sateri, a company owning pulp production mills in Brazil and China, is planning a $1 bn in IPO.

NZX started calculating and distributing the ANZ Local Authority Bond (LAB) Index.

RTS: FORTS set a record traded value on the evening trading session of RUB35 bn ($1.2 bn).

LSE: Turquoise's dark pool reached a record volume of €210.7 mn making Turquoise the second largest MTF dark pool in Europe.

Direct Edge delayed the launch of its EDGA and EDGX Exchanges with the migration period expected to be completed by July 20.

Direct Edge updated its routing pricing, starting May 1. Orders routed to NYSE will be charged $0.0021 for removing liquidity and rebated $0.0013 for adding liquidity; ROUQ and/or ROUC routed orders to low priced destinations will be charged $0.0018 and stocks priced <$1 will be charged 0.10% of dollar value when routed to Nasdaq BX in Tapes A & C , 0.20% when routed to Nasdaq in all Tapes and rebated $0.00003/share when adding liquidity on EDGX.

ITG unveiled a strategic investment in Disclosure Insight, a provider of independent research and due diligence data for institutional investors. No investment amounts were disclosed.

ITG 1Q10 pro forma EPS declined 7% Y/Y to $0.27, missing consensus estimates of $0.32. Revenues decreased 6% Y/Y to $147 mn, below consensus estimates of $149 mn.  ITG's non-US revenues were $47 mn, a 22% increase over 1Q09. ITG repurchased 566,000 shares of its common stock during the first quarter of 2010 at an average cost of $17.52 per share.

ICAP’s TriOptima will release market data on interest rate swaps.

Schroders signed an agreement to sell its private equity administration Business (operated by Schroder Administrative Services –Bermuda- and Schroder Administrative Services -Guernsey-) to JP Morgan, subject to regulatory approval. The entities have gross assets of GBP1.3 mn.

Artio Global reported 1Q10 adjusted EPS of $0.46 (-23% Q/Q; +44% Y/Y) on revenues of $85.6 mn (-4% Q/Q; +37% Y/Y). AUM increased +1% Q/Q to $56.4 bn with net inflows of $0.1 bn.

Cielo reported 1Q10 EPS of R$0.32 (+32% Y/Y) on revenues of R$953 mn (+8% Y/Y).

E*Trade: Citadel made a secondary offering of 172 mn shares, or 20% of its stake, at $1.75 a share with an option to sell an additional 25.5 mn shares for over-allotments. Citadel’s stake in ETFC would be reduced from 33.2% to 26.5%.

TD Ameritrade increased access to MyTrade.com as part of its integration of thinkorswim, where users can discuss strategies, learn and blog with other users.

TMX was upgraded to "Sector Perform" from "Underperform" at National Bank Financial. Target price was kept at C$31.

SEC Chairman Mary Shapiro said "I'm not a big supporter of clearinghouses having access to the Fed’s window." On the same issue, CFTC Chairman Gary Gensler said "I don't think we should expand the safety net. It generally lowers risk management standards when you know the government will extend you a line of credit."

SEC Chairman Mary Schapiro and CFTC Chairman Gary Gensler appeared together before a subcommittee of the Senate Appropriations Committee to discuss funding needs of their commissions. Gensler and Shapiro said they would need an increase in funding due to the increased oversight of OTC derivatives.

Provided By: Equity Research Desk, www.erdesk.com