EXCHANGE NEWSWIRE, 07 July 2010
Chi-X Global will start trading Japanese stocks at the end of July as the Japan Securities Clearing Association plans to start clearing Proprietary Trading Systems’ trades this month and after receiving a PTS license from the Japan FSA. PTS only capture 1% of traded volumes in Japan. The new platform will have a “sub-millisecond” latency, well below TSE’s 2 ms.
NYX: APC shares triggered a circuit breaker which halted trading in the shares between 10:56 a.m. and 11:01 a.m. after 200 shares were traded on Arca at a price of $99,999.9999 (well above the prior price of $39.14).
NYX US cash equities matched ADV declined 4% Y/Y to 2.78 bn shares in June, with matched market share at 29.7%. European cash number of trades increased 18.4% Y/Y to 781. EU derivatives ADV ex Bclear was 3.1 mn, down 10% Y/Y with IR products down 21.5% Y/Y and equity products up 18% Y/Y. US options ADV rose 24.4% Y/Y to 3.43 mn contracts.
NYX: regulators approved KKR to list its shares on the NYSE.
CME director Elizabeth Flores said CME is "still anticipating a launch of OTC interest rate clearing later this year." CME expects to be "internally" ready to clear FX contracts by the end of the quarter.
ICE surpassed the $10 trillion mark in CDS cleared notional value last week.
HKEx: Agricultural Bank of China is set to raise up to $22.1bn in what would be the largest IPO in history. Shares will be listed on HKEx and SSE.
LCH.Clearnet and LME will launch clearing for the OTC wholesale gold market this November. LMEsmart will capture bilateral contracts for clearing and send matched trades to LCH.
BVMF3 selected Citi Global Transaction Services to handle the trading of Brazilian Depositary Receipts (BDRs).
ASX: the Australian Government is reviewing the tax treatment of Islamic finance in an effort to develop a Sharia-compliant market.
MKTX reported a June 2010 trading volume of $32.6 bn , with $19.2 bn in US high grade volume, $3.9 bn in eurobond volume and $9.5 bn in other fixed corporate.
Equiduct will offer a rebate of 0.2 bps to take liquidity from its order book from a previous charge of 0.3 bps and will no longer rebate 0.15 bps to passive orders. This new schedule will remain the hole year. CEO Peter Randall said “we’ll be spending money as people connect and do business with us … getting traction and allowing people to interact with retail, it’s money well spent.”
NASDAQ OMX: BNY Mellon Clearing will become a clearing member of IDCG.
BNY Mellon received regulatory approval in China to establish a fund management JV with Xi’an based Western Securities. The fund will initially manage Chinese securities for local investors.
Calastone signed an agreement with Aberdeen Unit Trust Managers to provide electronic order routing.
International Assets Holding acquired the Hanley Group, a trading firm and market maker of exchange-traded agricultural options. The merger is expected to close on July 7 and the consideration of the all-cash transaction was not disclosed.
Fidelity raised $400 in a debt issue. The senior unsecured notes received an A+ rating from S&P, mature on December 2010 have a 6.50% coupon and were priced to yield 6.544.
Franklin Resources spent $3.7 mn in advertising (up from $0.5 mn a year ago), more than any of its peers and ahead of T.Rowe ($2.97 mn), Vanguard ($2.13 mn) and Fidelity ($2.05mn), according to Nielsen.
STOXX licensed the EURO STOXX Small Index to Amundi ETF to underlie an ETF.
SIFMA appointed Cheryl Crispen as Executive VP, Communications. Ms. Crispen was previously Senior VP, Communications and Marketing at the Mortgage Bankers Association (MBA).
Provided By: Equity Research Desk, www.erdesk.com