EXCHANGE NEWSWIRE, 15 June 2010
CBOE sold 11.7 million shares at $29 each, the top of the range, raising $339 mn. CBOE started trading under the symbol CBOE on NASDAQ’s Global Select Market. Caldwell Investment Management yesterday bought two more seats at a price slightly above IPO price.
US Senator Lincoln would consider allowing banks to trade derivatives through separately capitalized affiliates, with capital requirements dictated by a bank regulator, in order to keep her bill in the final derivatives reform bill.
The European Securities and Markets Authority will decide which OTC contracts will be forced through CCPs. EU officials are looking at two approaches. Under the first one, CCPs would tell local regulators which contracts they can clear and ESMA would decide which contracts could be forced through CCPs. Under the other approach, ESMA and the ESRB would decide which contracts should be centrally cleared but don’t have a clearing facility available.
CETIP and Cleastream signed a Master Commercial Agreement to jointly develop, promote and distribute the first Triparty Collateral Management Services intended to be provided by CETIP to its participants.
BM&FBovespa’s CEO, Edemir Pinto, said that PetroBras’ $25 bn and Banco do Brasil’s $5.6 bn share offerings may delay other pending offerings because of the volume of those transactions. He expects the exchange to increase the number of listed companies in five years by about 50%, or 200 companies.
The London Private Equity Futures and Options Exchange (PEFOX) will be launched next month with “proprietary, standardized futures contracts covering all major private equity funds.” PE Fund interest owners would transfer the economic interest but retain ownership via the exchange which would act as an independent broker providing liquidity.
TMX: Montréal Exchange will on Friday start trading a new oil futures contract based on the price of Western Canadian Select (WCS) with the symbol WCH. The contract will be cash-settled using the NGX WCS WTI Crude Oil Index reference price and cleared by the Canadian Derivatives Clearing Corporation.
SGX will start trading Brent crude oil futures denominated in Euros and settled in cash. Contract size will be 1,000 barrels and will be quoted for 12 consecutive months. No starting date was provided.
TOCOM plans to trade gasoline and kerosene contracts currently listed on Central Japan Commodities Exchange by October. TOCOM was approached by C-COM on May 27, 2010 regarding the possible transfer of its oil market. The contract specifications for the new gasoline and kerosene markets are expected to be identical to the current C-COM products, except for the trading method and trading hours.
DFM: NASDAQ Dubai appointed a new Board of Directors, led by Abdul Wahed Al Fahim as Chairman. Board members will include DFM Borse Dubai CEO Essa Kazim, Managing Director and George Möller, Chairman of the Supervisory Board of the Netherlands Authority for the Financial Markets. The other new Directors are: Majid Saif Al Ghurair; Rashid Al Shamsi, Vice Chairman of DFM; Abdulla Ghobash, Regional Director in the Northern Emirates of National Bank of Abu Dhabi; Edward Knight, EVP, NASDAQ OMX; and Jamal Nasser Lootah, Chairman of the Governing Board of the OPEC Fund for International Development in Vienna.
SIX Swiss Exchange will open an access node for its trading system infrastructure at Equinix’s International Business Exchange™ (IBX®) data centre in Zurich.
Knight appointed nine individuals to the US fixed income sales and trading team.
ITG expanded the range of analytic products and research to include proprietary research on Portfolio Capacity Analysis, as well as a new Interactive Dashboards for ITG TCA.
ITG appointed David Stevens as CEO of ITG's Asia Pacific business. Mr. Stevens was previously CEO of ITG's European operations.
MasterCard appointed Sachin Mehra as Corporate Treasurer to succeeds retiring Andrea Robertson. Mr. Mehra was previously Treasurer of Hess Corporation.
ICAP was upgraded to "Add" from "Reduce" at Numis Securities. Target price was increased to GBp468 from GBp321.
T Rowe was upgraded to "Outperform" from "Market Perform" at Wells Fargo. No price target was provided.
NYX and FINRA completed the agreement under which FINRA will perform market surveillance and enforcement functions currently carried out by NYSE Regulation.
CFTC approved in a 3-2 vote Media Derivatives’ application to launch The Trend Exchange to trade box office receipt futures. The Motion Picture Association of America plans to block the exchange at the Senate.
Switzerland’s Lower House of Parliament approved a bill allowing the names of thousands of UBS customers suspected of tax evasion to be handed to US authorities. The lower house called for a referendum on the issue, but the upper house opposes it (due to time constraints as it would delay the decision beyond the August deadline imposed by the US government).
The SEC, Quebec Autorité des marchés financiers (AMF) and Ontario Securities Commission (OSC) signed a MoU that provides a clear mechanism for consultation, cooperation and exchange of information to facilitate their supervision of regulated entities that operate across the U.S.-Canadian border.
Provided By: Equity Research Desk, www.erdesk.com