EXCHANGE NEWSWIRE, 26 May 2010
Germany’s BaFin plans to extend the naked short sales ban to all listed stocks and force market participants to report all naked short sales.
US House Financial Services Committee Chairman Barney Frank, in charge of merging Senate’s and House’s financial regulatory bills said he doesn’t “see the need for a separate rule regarding derivatives, because the restriction on banks engaging in proprietary activity would apply to derivatives.”
UK’s FSA is working with the SEC and CFTC to increase the “scrutiny of trading systems’ resilience to ensure crashes do not occur due to overload or problems caused by fat-finger errors.”
CME appointed Craig J. Mohan as Managing Director of Co-Location and Data Center Services. Mr. Mohan was previously Director, Global Infrastructure at Citadel Investment.
LSE: Turquoise dark mid-point book surpassed Chi-Delta as the biggest MTF-owned dark pool in Europe during the last days as traders were alerted on potential information leakage on Chi-Delta and BATS Europe’s dark pools.
LSE: UnaVista added FIX and XML support by Volante Technologies to expand into new business areas, including linking UnaVista to the Exchange's FIX gateway, and supporting the implementation of UnaVista's new post-trade solutions.
PSE’s Board approved the creation of a wholly owned and self-regulatory entity that will perform independent audit and surveillance on compliance by traders and market participants. PSE Chairman Hans Sicat said "It's mainly to separate these functions from the board and to minimize, if not eliminate, conflict of interest issues."
DFM payed down 2/3 of its acquisition of Nasdaq Dubai and transferred 80 mn of its shares to NASDAQ OMX. The remaining third will be upon consolidation with Borse Dubai.
DGCX appointed FFastFill as an approved global Independent Software Vendor (ISV) on the Exchange.
IMAREX appointed four brokers to its tanker team; Bjoern Stroemsnes, Kim Krohg, John Bakke and Mathias Tollefsen; whom had all previously worked for IMAREX in other positions.
Alpha Group is expected to announce cuts to trading fees for stocks priced at a C$1 to C$5 of around 30% beginning June 1.
Knight may a stake in London-based alternative trading venue Equiduct Systems.
Tullett Prebon appointed Philippe Allain as Managing Director of its new Risk Arbitrage Desk focused on mergers and acquisitions. Mr. Allain was previously head of Risk Arbitrage Sales at Newedge.
Transaction Network Services (TNS) and EZX will jointly create a low latency FX market data and trading aggregation service that will connect to multiple trading venues, via TNS' Secure Trading Extranet.
SICOM certified SunGard's GL Stream gateway for connectivity to its markets.
Visa and Monitise formed a JV to provide a technology platform for financial institutions and mobile network operators in India to offer a range of mobile financial services to consumers.
Tabb Group and BNY Mellon released a survey showing that a majority of asset managers, broker-dealers and clearinghouses find joint SEC-CFTC regulatory competence as "a mistake", because of their divergent regulatory frameworks.
Dow Jones Indexes launched five new indexes and licensed them to BMO Financial: the North America Select Junior Oil, North America Select Junior Gas, Canada Select Equal Weight REIT, U.S. Large-Cap Health Care Equal Weight Total Stock Market, and the U.S. Large-Cap Banks Equal Weight Total Stock Market indexes.
SEI declared a$0.10 dividend per share payable on June 28 to shareholders of record on June 23.
Schwab won preliminary court approval of its $235 mn YieldPlus settlement. Steve Berman, a lawyer for the investors, said that “the recovery is 82% of damages.”
CESR published a report on the technical details of the pan-european short selling disclosure regime. The report provides details on the (i) determination of exposure for the purposes of calculating a net short position, (ii) calculation of changes in a net short position (iii) clarification at the level at which to net and aggregate short positions within an organizational structure, (iv) further development on the mechanics of disclosure and (v) a detailed definition of the exemptions from disclosure obligations. CESR said increased co-ordination of its Members’ market surveillance efforts is needed and called on the EU Commission “to urgently adopt the planned legislative reforms ahead of its original timetable." Chairman Eddy Wymeersch said “there’s certainly not a unanimous move to follow the German route” on banning short sales.
Provided By: Equity Research Desk, www.erdesk.com