EXCHANGE NEWSWIRE, 02 July 2010
EGX Chairman Maged Shawky said the exchange plans to launch a commodities and financial derivatives exchange in Egypt in 2H11 in cooperation with a global derivatives exchange. "There are intensive negotiations with one of the Asian bourses with ample experience in this field," Shawky said.
Knight completed the acquisition of Urban Financial, an independent mortgage company and originator of home equity conversion mortgages, or reverse mortgages, insured by the Federal Housing Administration. Urban Financial Founder and CEO Bryan Hendershot was appointed MD of Mortgage Origination. Terms of the acquisition were not disclosed.
ICE 2Q10 OTC energy average daily commissions rose 26% Y/Y to $1.43 mn. Quarterly revenues from ICE's CDS business totaled $43 mn, down 3% Y/Y, with clearing revenues accounting for $16 mn, up from $11.5 mn in 1Q10.
CME June ADV totaled 12.16 mn contracts (+8% Y/Y). IR ADV declined 8% Y/Y to 4.70mn, while index ADV rose 24% Y/Y to 3.62 mn and energy ADV was 1.67mn (+14% Y/Y). Blended May 3M rolling RPC was $0.79.
BATS Options market share was 1.2% in June, up from 0.4% in May. Full roll out took place at end of May.
HKEx and the Hanoi Stock Exchange (HNX) signed a MOU on cooperation and information exchange.
KRX and the Korea Securities Depositary will begin to settle the trades in the KOSPI and KOSDAQ Markets one hour earlier, at 3:00 pm, starting July 5. KRX plans to advance the time of delivery of settlement securities and transfer of settlement payments further to 9:00 am on the settlement day by July 2011.
FIG acquired loan servicing and investment management company CWCapital for an undisclosed amount. CW was the investment manager, servicer or special servicer on a portfolio of $184 billion loans and securities.
Fidelity, the largest 401(k) plan provider, lost 400 DC plans over the nine months ended in March according to Reuters, bringing the total to 17,100 plans and $759 bn in corporate plan AUM.
Och-Ziff AUM declined -1.2% M/M to $25.3 bn at the end of June.
Interactive Brokers: June cleared DARTs declined -24% M/M (+18% Y/Y) to 352k, client accounts increased +1.0% M/M (+20% Y/Y) to 145.9k and customer equity remained unchanged M/M at $16.4 bn (+43% Y/Y).
DB1 was upgraded to “Overweight” from “Equal weight” at Morgan Stanley. Target price was increased to €63.80 from €55.00.
CFTC identified 20 "topic areas" to focus on after the final approval of the US financial regulation bill. Areas include standardization of OTC derivatives contracts to be cleared.
Provided By: Equity Research Desk, www.erdesk.com