image EXCHANGE NEWSWIRE, 21 July 2010

Direct Edge became a regulated exchange today. “The move from being an ECN to a US regulated securities exchange has been accompanied by upgrading our trading technology and infrastructure which we believe will enable us to broaden our footprint versus the legacy exchanges,” LSE CEO Bill O’ Brien commented.

LCH.Clearnet CEO Roger Liddell informed to the BoD his intention to retire from his position in July 2011.

 

 

NITE reported a 2Q10 EPS $0.58 (+12% Y/Y), above consensus estimates of $0.48, on revenues of $366 mn (+17% Y/Y). Equities’ revenues increased +25% Y/Y to $305 mn, while FICC revenues declined -9% Y/Y to $60.4 mn.

NITE June US equities ADV totaled $27.4 bn (-28.5% M/M; +21.7% Y/Y), 3.9 mn trades (-24.9% M/M; -0.2% Y/Y) or 8.6 bn shares per day (-28.4% M/M; -24.9% Y/Y).

LSE will offer private client brokers a six month free trading promotion for their orders sent to LSE. After six months, a 0.1 bps trading tariff will apply, down from the current 0.45 bps fee, as LSE aims to capture retail investors.

NYX: NYSE Liffe found “no evidence of abusive behavior” in the London cocoa market last week after Armarajo took physical delivery of almost all European cocoa inventories and triggering complaints of a squeeze.

NDAQ: Qlik Technologies’ shares listed on the exchange, with a combined capitalization of $1.05 bn. YTD, NASDAQ raised $4.32 bn in 42 new listings, 15 of them IPOs.

NYSE Technologies launched Order Routing Direct, its new fully-managed point-to-point order routing service.

CME: the Green Exchange in conjunction with Bloomberg, Tradebook, FFastFill, Orc Software, Patsystems, SunGard and others will offer access to the new exchange through their electronic trading software systems when it receives its DCM license.

BURSA: the exchange had, as of July 15, 46 listed companies with “financial problems” that failed to restructure, resulting in 17 companies being suspended from trading.

Korea Exchange: the Financial Service Commission approved Korea Exchange’s new Auction-based Block Trading Service, A-Blox.

Hungarian Power Exchange launched the Hungarian day-ahead power market in partnership with EPEX Spot and ECC.

Visa: CiberSource shareholders approved a takeover by Visa, with the acquisition expected for completion by July 21.

BlackRock reported a 2Q10 EPS of $2.21, including BGI assets. Adjusted EPS reached $2.37 (+35% Y/Y; -1.5% Q/Q). Net income reached $432 mn on revenues of $697 mn. AUM at quarter end totaled $3,151 bn (-6% Q/Q).

SEI Investments reported a 2Q10 EPS of $0.28 (+27% Y/Y) on revenues of $228 mn (+13% Y/Y). AUM at quarter end reached $148.9 bn (-8% Q/Q).

BAER reported a 1H10 net profit of CHF184.8 mn (-8.9% Y/Y) on revenues of CHF916.4 mn (+13% Y/Y). Net new assets totaled CHF3.3 bn and the company said it will continue to seek for growth via acquisitions in Asia and Germany.

AMTD reported a FY3Q10 net income of $179.4 mn (+5.2% Y/Y) or $0.30 per share, on revenues of $692 mn (+13% Y/Y). Daily average client trades increased +6% Y/Y (413K), while net new assets totaled $8.9 bn (up from $6.9 bn a year ago).

STT was raised to “buy” from “hold” at Stifel Nicolaus. Target price was set at $47 (no target price was provided previously).

The SEC will discuss today 12b-1 fees (distribution fees). We need to critically rethink how 12b-1 fees are used and whether they remain appropriate," Chairman Schapiro said last May.

 

 

Provided By: Equity Research Desk, www.erdesk.com