EXCHANGE NEWSWIRE, 14 May 2010
CETIP reported a 1Q10 net income of R$27.8 mn (+27% Q/Q) on revenues of R$72.9 mn (+10% Q/Q). The bulk of the increase came from a 130% increase in DI registration revenues, with a 16.1% increase in volumes and a 98% increase in pricing due to a DI mix that shifted to more expensive extra-group operations.
The US Senate passed amendments authorizing the Federal Reserve to limit interchange fees and make sure that debit card fees are “reasonable and proportional.” It excludes credit unions and community banks with assets under $1 bn.
CBOE will start trading options on the S&P 500 Annual Dividend Index (DIVD) on May 25. Two annual expirations will be initially listed.
Knight ADV in US equities rose 26% Y/Y to $29.3 mn in April. ADV in tape A and tape B shares Knight Direct ADV was 166 mn shares, up 181% Y/Y. Hotspot FX ADV increased 108% Y/Y to $35.2 bn.
Tel Aviv Stock Exchange announced changes in trading hours as a result of Israel's upgrade to "developed market" status by MSCI. Shares, convertible, bonds, T-bills and institutional securities pre-closing trade will be extended by 30 minutes and the closing trade session will commence at a random time between 16:53 and 16:58. Derivatives trading will be extended by 30 minutes and will close at 5:00 pm. TASE Clearing House services will be provided until 7:00 pm and MAOF Clearing House services will be provided until 6:00 pm.
ICAP appointed Henry Liddell as CEO of ICAP Shipping. Mr. Liddell was managing director of tankers and projects.
TSE imposed disciplinary actions against SBI Securities on weak risk management supervision systems.
SMARTS expanded its SMARTS.broker product with coverage for market participants who trade in the CME’s markets
IAAC fiscal 2Q10 EPS declined -5% Y/Y to $0.41 on revenues of $65.7 mn (+173% Y/Y) and expenses of $53.7 mn (+193% Y/Y) , primarily because of the inclusion of FCStone revenues. Net income increased 2% Y/Y to $4.4 mn.
S&P’s put LCH.Clearnet’s A+ long-term and A-1 short-term counterparty credit ratings on creditwatch negative.
RTS April security volumes increased +2.6% m/m to $54.5 bn, while futures and options on FORTS declined -0.4% m/m to 43.8 mn contracts.
Schroders: the SEC accused David Baldt, former head of municipal bonds and manager of the Schroder Municipal Bond Fund and the Short Term Municipal bond fund between 2003 and 2008 and allegedly engaged in insider trading between September and October 2008.
UniCredit Group hired Bank of America Merrill Lynch to “explore all strategic options to maximize Pioneer’s overall franchise value.” Unicredit bought Pioneer in October 200 for $1.2 bn. Pioneer had $250 bn in AUM at the end of February.
Charles Schwab April net new assets were $3.8 bn, up from $3.3 bn a year ago and client assets increased +1.4% M/M to $1,511.8 bn. Client DARTs increased +12% M/M to 440k. Mutual funds (exc. MM) had net flows of $4.1 bn and money market had net outflows of $5.4 bn.
E*Trade stockholders authorized a 1-for-10 reverse stock split of the common stock that will become effective in early June.
Fidelity Investments appointed Ronald O'Hanley, currently president of BNY Mellon Asset Management, as head of its Asset Management and Corporate Services.
CUSIP Global Services created a specialized data-feed to distribute nine-digit identification codes and other identifying data for bonds issued under economic stimulus programs sponsored by the US government since 2008.
VISA was downgraded to “Hold” from “Buy” at Stifel Nicolaus. No target price was provided.
SEC Chairman Mary Schapiro and CFTC Chairman Gary Gensler will appear on May 20 before Congress to discuss their findings of the May 6 stock market plunge.
The SEC appointed Gerald Hodgkins as Associate Director of the Division of Enforcement. Mr. Hodgkins has worked in the Enforcement Division since 1997.
Provided By: Equity Research Desk, www.erdesk.com