EXCHANGE NEWSWIRE, 27 May 2010
The SEC may create a consolidated central database of real-time trading activity to better scrutinize the markets. SROs may have to establish a consolidated audit trail system that would enable regulators to track information related to trading orders received and executed across securities markets.
CBOE and ISE traded charges in a dispute over exclusivity in stock index options at Chicago court. Stock index developers S&P and Dow Jones are backing CBOE’s defense of its exclusive licenses. Judge William O. Maki intends to rule on the matter on July 8.
DB1 CEO Reto Francioni asked for shareholder approval to increase capital during today’s annual meeting. “A globally operating company competing at an international level does, in principle, require room for maneuver,” Francioni said. He also commented that naked short-selling ban is "unsuitable" to prevent undesired speculation.
TMX filed a preliminary form with securities regulators that will enable the exchange to issue up to C$1 bn of debt or equity during a 25 month period. The company commented that the “Group has no immediate intention to raise funds, other than potentially replacing, in whole or in part, its existing three year term credit facility.”
TMX: BOX senior vice president of business development and marketing Alan Grigoletto said the exchange “is moving towards appealing to the proprietary trading community," Securities Industry News reported. BOX removed certain protections for market makers that prevented high frequency traders to post liquidity in both sides of the quote simultaneously. BOX also moved its matching engine into the Equinix NY4 data center, where ISE and several HFT are located.
NYX: New York Portfolio Clearing appointed Ira J. Krulik COO and Kevin Murray as Director of Business Operations. Krulik was co-head of the Futures Sales & Marketing team in the PrimeServices division at Credit Suisse. Murray was a Director of North America Clearing Operations at UBS Securities. NYPC is currently undergoing regulatory review, with an anticipated launch in 3Q10.
BATS proposed changes to its US and EU post trade data feeds. BATS will create a port level configuration choice that allows customers to decide whether they want to keep their order ID values in the publicly available data feed for monitoring their own trades, or whether they would prefer that their order ID values for their own hidden trade events be obfuscated in the data feed.
CME: NYMEX will launch on June 6 two new plastics futures contracts: a blow moulding grade of high density polyethylene and a film grade of linear low density PE. Pricing data will be supplied by the PetroChem Wire consulting firm.
BM&FBovespa: Goldman Sachs will offer electronic DMA to Brazil. In total, there are 46 DMA providers DMA connected to BM&FBovespa.
Tradeweb expects to launch electronic inter-dealer trading in US Treasury bills on the Dealerweb trading platform in June.
NSE plans to launch a new platform for short sales.
Tokyo Commodity Exchange announced the directorate nominees for the next term as the current term of the ten members of the board of directors is to terminate at the close of the second annual shareholders meeting next month.
Thomson Reuters will acquire Norwegian provider of energy and environmental information, Point Carbon; terms of the deal were not disclosed.
Legg Mason agreed to repurchase $300 mn in an accelerated share repurchase as part of its $1 bn share repurchase plan.
AMG: Managers Investment Group will sub-advise four Allianz funds currently managed by Cadence Capital Management. The funds include the Allianz CCM Mid-Cap, Focused Growth, emerging companies and Capital Appreciation funds and will retain current portfolio managers. Cadence has $6 bn in AUM and the four funds generated $8.3 mn in fees during 2009.
Invesco will officially close its merger with Van Kampen next Tuesday, June 1st, adding $119 bn in AUM to Invesco’s $420 bn in AUM.
BM&FBovespa was assigned a local currency issuer ratings on the global scale of A1 (Aaa.br) rating with a stable outlook at Moody's.
Invesco was downgraded to "Neutral" from "Buy" at Ticonderoga. Target price was not provided.
Julius Baer was upgraded to “Neutral” from “Sell” at UBS. Target price was raised to CHF34 from CHF32.
FINRA is soliciting comments on a rule proposal that will require registration of individuals working in sales support, trading support and handling of customer assets in broker-dealers.
FINRA CEO Richard Ketchum said clearing members and broker "firms that provide direct access to customers have a supervisory responsibility" of DMA order flow.
US Treasury Department Assistant Secretary Michael Barr said the financial regulatory bill approved by the Senate has "provisions like the Lincoln provision that are not part of that core set of questions, and those are going to get worked through in conference."
Provided By: Equity Research Desk, www.erdesk.com