EXCHANGE NEWSWIRE, 10 June 2010
BVL Director Jose Fernando Romero said BVL and BVC have been discussing a possible merger. BVL, Bolsa de Santiago and BVC will meet on June 21 to enable cross-border transactions between the exchanges, according to Michel Canta, chairman of Peruvian regulator. In a second phase they plan to establish a common exchange. Mr. Canta also said that pension funds’ cross-border investments would be considered local.
BATS CEO Joe Ratterman said the exchange would propose to keep markets open and limit price movements instead of setting circuit breakers in cases of large swings in prices. "Keeping the markets open is the highly preferable means, rather than shutting the market down. It makes more sense and is far less disruptive for everybody." Direct Edge CEO Bill O’Brien said he supports exploring how the idea could function.
ASX will build a new data center scheduled for completion in August 2011 and planned to become operational within a few months of that date.
Liquidnet will start trading Mexican equities on June 11.
CME: Fixnetix will provide European customers with a routing service to CME markets with co-location.
CME was awarded the “Best Real-Time Market Data Initiative” by Inside Market Data for its implementation of StreamBase Complex Event Processing technology.
Knight appointed Mark Aitken, David Barcus and David Lessen as Managing Directors. Mr. Aitken was previously at HBOS where he set up the firm's corporate bonds business. Mr. Barcus is a former Managing Director at MTN Capital Partners. Dr. Lessen was previously a Managing Director, Head of Convertible Bond Origination at BroadpointGleacher.
Markit will launch the Markit iBoxx ABS index in 3Q10. The index will track the performance of the European floating-rate asset-backed securities market.
MasterCard President Ajay Banga said banks could raise fees on payment cards if Congress approves limits on transaction fees.
Legg Mason AUM declined -4% m/m to $657.9 bn at the end of May.
Invesco AUM declined -5.9% m/m to $430.0 bn at the end of May. The company commented that they “experienced long-term net outflows largely in the lower fee ETF and Passive category ... [and] depreciating global currencies against the US Dollar contributed approximately $6 bn decline in AUM m/m.”
AllianceBernstein AUM declined -7% m/m to $466 bn at the end of May “due to negative investment performance as well as modest net outflows in the Institutions and Retail channels.”
Fortress closed its ¥75 bn Yen-denominated Fortress Japan Opportunity Domestic Fund.
TD Ameritrade COO and Head of Technology David Kelley said the three recent technology problems at the company’s web site were "completely unrelated" events.
IOSCO accepted the applications for membership of securities markets regulators from Iceland, the Republic of the Maldives, the Kingdom of Saudi Arabia and Syria.
UK’s FSA issued a record £33.6 mn ($49 mn) in fines in the last year as it indicated in its annual report that it “radically changed” its approach to supervision and filed more insider-trading cases to develop a policy of “credible deterrence.”
CFTC Commissioner Bart Chilton said "not only are circuit breakers needed, they should have ensured consistency between securities and futures exchanges and be calibrated at appropriate levels, before serious and significant market anomalies take place."
Provided By: Equity Research Desk, www.erdesk.com