EXCHANGE NEWSWIRE, 14 July 2010
CME, along with Getco, DRW, Infinum, Chicago Trading and Nico Trading plan to launch an interest rate swap electronic trading platform called Eris Exchange. The contracts will be cleared by CME’s clearinghouse and have already gained CFTC’s approval.
CME CEO Craig Donohue said he is "pleased" with the prohibition of mandated linkages for clearing houses in the financial reform bill. Donohue also supports "open access" to clearing swaps but is concerned on CFTC requiring clearinghouses to clear unwanted OTC swap.
CME COO Bryan Durkin warned that "careful consideration should be given to any decision [by the CFTC] to impose restrictions or limitations on algorithmic and high frequency trading that would be harmful to the marketplace and result in less efficient and less liquid markets."
NYX: NYSE Euronext London received FSA approval to list international companies wishing to list in London. The platform will compete with LSE’s International Order Book.
LSE fiscal 1Q11 revenues rose 2% Y/Y to GBP 166 mn, with trading revenues down 6% Y/Y to GBP 74.2 mn, post trade down 1% Y/Y to GBP 26.9 mn, technology services up 92% to GBP 12.7 mn and information services flat from a year ago to GBP 44.0 mn.
LSE launched a real-time post-trade market data offering for both the LSE and Borsa Italiana cash markets. The offering combines order book trade prints and reported 'off book' content. From October 1, professional terminal subscribers will be able to obtain separated real time London Stock Exchange post-trade content for £15 per month with Borsa Italiana available at €4.
ABN Amro Clearing Bank acquired a 25% stake in Dutch equities-trading platform The Order Machine, owned by Optiver and Binck Bank.
DB1: Eurex will launch US dollar-denominated Sensex futures and options. The new contracts will be launched on October 4th.
DFM: Fidessa is now offering its sell-side OMS to trade in NASDAQ Dubai equities on DFM’s X-Stream platform.
JSE is seeing an increase companies’ interest to list on the exchange according CEO Russel Loubser in an interview with Business Day. JSE had seven IPOs so far this year.
PSE: trading will proceed normally today after a typhoon hit the Philippines yesterday.
A BNY Mellon Asset Management report found that the funded ratio of US corporate pension plans fell six percentage points to 74% in June. The funded status declined 9.5 points year-to-date.
Charles Schwab is suing Merrill Lynch, UBS and Bear Stearns claiming they omitted information about the MBS Schwab bought from them.
Ashmore AUM reached $35.3 bn (+7% Q/Q) at the end of June.
Eaton Vance reported $165.4 bn (-6.1% M/M) in AUM at the end of June.
Artio reported $49 bn (-2.6% M/M) in AUM at the end of June.
MF Global was upgraded to “buy” from “neutral” at Ticonderoga. Target price was reduced to $7.50 from $8.75.
ICAP was downgraded to “hold” from “add” a Numis. Target price was maintained at GBp468.
Provided By: Equity Research Desk, www.erdesk.com