EXCHANGE NEWSWIRE, 07 June 2010
NYSE and NASDAQ delayed the implementation of circuit breakers until they receive SEC authorization. The SEC is reviewing the comments received on the proposed rules that would require exchanges to pause trading in S&P 500’s stocks if the price moves 10% or more in a five-minute period. "The (SEC) staff expects to present the proposals to the Commission next week. If approved, the staff anticipates full implementation within a week thereafter."
NASDAQ OMX plans to eliminate "stub" quotes within its NASDAQ market-maker and select market-maker programs. CEO, Robert Greifeld, said the “short term objective is to have stub quotes be replaced by quotes that are realistically priced to the market at the time,” for example “within 15% of the market” price.
LSE finished conversations to buy a stake in European Multilateral Clearing Facility (EMCF) as the parts could not agreed on valuation.
Oslo Børs launched Oslo Clearing, a central counterparty for clearing trades for all equities, equity certificates and ETFs traded on Oslo Børs and Oslo Axess. Clearing started in five selected shares listed on Oslo Børs with full launch planned on June 18. Oslo Børs Bente Landsnes said the move was designed to “reduce risk for members and to make the whole clearing procedure more efficient and at lower cost.”
Chi-X Europe CEO Alasdair Haynes said the MTF will not be pushed to expand into derivatives "until being fully prepared."
NYX: Amsterdam Exchange Chairman, Cees Vermaas, said that NYX will lose market share in Paris, Brussels, Lisbon and Amsterdam according to De Telegraaf.
EEX: spot Natural Gas volumes increased +1258% y/y to 795,499 MWh in May; Natural Gas derivatives volumes increased +967% y/y to 3,803,538 MWh. Volumes at the Spot Market for CO2 Emission Allowances increased +76% y/y to 1,291k EUA. CO2 Emissions Allowances derivatives increased 117% to 2.985k EUA.
BMV director of strategic planning and marketing Javier Artigas said at a conference organized by Sandler O'Neill that the exchange is planning to adopt new US rules on swaps trading.
Clearstream May assets under custody increased +7% y/y to €10.9 tn.
ALGO Technologies and AlgoSpan announced an agreement with Interxion to expand services across Interxion’s pan-European data centres, including Frankfurt, Stockholm, Zurich and Madrid.
Fiserv acquired AdviceAmerica, a provider of integrated advisor solutions to financial institutions and independent advisors. Financial terms were not disclosed.
JonesTrading Institutional Services appointed Andrew Tuthill as Managing Director and Head of its Capital Markets Group. Mr. Tuthill was previously Managing Director - Head of Special Situations for the Equity Capital Markets Group at Thomas Weisel.
Claymore launched seven new corporate bond ETFs on NYSE Arca that tracs the performance of BulletSharesTM USD Corporate Bond indices with maturities between 2011 and 2017.
Legg Mason appointed Laura Zimmerman as Head of Marketing and Product for its US operations. Ms. Zimmerman was previously Chief Strategy Officer at Allstate Financial.
Provided By: Equity Research Desk, www.erdesk.com