EXCHANGE NEWSWIRE, 28 June 2010
The Monetary Authority of Singapore is discussing ways of expanding clearing capacity in Singapore to become an Asian hub for derivatives clearing. Singapore is approaching international derivatives clearers such as ICE to compete with the two existing exchange clearers according to financial sector executives. SGX has been also exploring deals with other clearinghouses (including LCH.Clearnet) to develop its clearing capabilities.
DB1 upgraded Xetra with improved functionality and the expansion of the Enhanced Transaction Solution interface. Order information is now sent to participants in real time via this interface.
Bombay Stock Exchange: Indian bank HDFC acquired a minority stake in BSE in exchange of a stake in Central Depository Services (CDSL). HDFC paid INR 375 per BSE share, a 10% premium over recent transactions at INR 340.
LME: JPMorgan will become a ring dealing member on LME after the bank acquired RBS’ metal business.
LSE is looking for listing in Shanghai by 2011 according to CEO, Xavier Rolet.
NYX was called a “bargain” at Barron's this weekend. Barron's said NYX could rise as investors begin to appreciate the company's growth strategy and exposure to derivatives.
NYX is “very interested” in listing in Shanghai according to COO, Larry Leibowitz.
NASDAQ Closing Cross set a record 1.04 billion shares executed in 0.855 seconds on Friday, as the crossing facility was used to reconfigure the entire family of US Russell indexes during their annual reconstitution.
Abu Dhabi Securities Exchange (ADX) launched four satisfaction surveys targeting listed companies, brokerages, custodians and registrars “to provide ADX with clear guidelines for its path of development.”
WSE signed a data distribution contract with CARRYQUOTE to offer its access to the WSE Main List data in real time. Real time WSE data was already available for 215,000 subscribers globally.
Knight and Alphacet announced they were selected by an unidentified top hedge fund to deploy a workflow for algorithmic pairs trading.
Platts started publishing daily price assessments for liquefied natural gas (LNG) imported to Southwest Europe and to Northwest Europe.
Nomura appointed Shaun Lim as Head of Oil and Oil Products Trading, Asia ex-Japan. Mr. Lim was previously a senior fuel oil trader at Barclays Capital in Singapore.
Julius Baer Hong Kong was fined by Hong Kong’s SFC with HK$3 mn for failing to take adequate steps to identify clients as professional investors and maintaining adequate written records of its investment advice given to clients.
Standard & Poor’s will reclassify Israel as a developed market, effective from September 20.
SGX was initiated with a "Buy" rating at Phillip Securities. Target price was set at SGD9.00.
US Bank Bill may not limit bank ownership of derivatives clearinghouses However, the bill awaiting confirmation by Congress allows regulators to set caps on dealer-ownership with their own criteria.
ISDA Executive Vice Chairman Robert Pickel said Brazil's antiquated collateral registry system “could present hurdles for the effective use of collateral going forward.”
US Justice and Agriculture Departments should join the SEC and CFTC in the “conversation” about dairy futures at CME “and how that is working” according to Christine Varney, Assistant Attorney at Justice Department’s antitrust division. "Whenever you have a market that's as thinly traded as this appears to be, it's certainly something you want to think about," Varney said.
Provided By: Equity Research Desk, www.erdesk.com