EXCHANGE NEWSWIRE, 23 July 2010
Eris Exchange, the market for trading OTC contracts proposed by Chicago Trading Co, DRW Holdings, Getco, Infinium and Nico Holdings, will launch IR swaps futures on July 26. Contracts will be cleared at CME, after the signing of a long-term clearing agreement between CME and Eris.
SGX is seeking public comments on new proposed rules that will require orders to be marked as “normal” sell orders or a short sell orders so that to report short selling volumes for individual securities on a daily basis.
SGX CEO Magnus Bocker said the exchange could remove its midday trading break. Bocker expects the measure to expand trading volumes by 8% to 10%. Bocker also said SGX will begin trading GDRs in August.
SGX will start clearing four new OTC Container Swap contracts.
NYX: NYX Liffe may start disclosing speculative positions in commodities from the current quarter after European cocoa producers claimed for further transparency in the market.
CME will introduce futures on Net Energy’s Western Canadian Select index in the next week. Western Canada Select is a blend of heavy crude and tar-like bitumen mixed with synthetic oil from Alberta's oil sands as well as condensate.
ICE: the CFTC designated the Mid-C Financial Peak (MDC) and Mid-C Financial Off-Peak (OMC) contracts as significant price discovery contracts (SPDCs).
LCH.Clearnet CEO Roger Liddell said he does not “think we will ever see interoperability among European derivatives clearing houses,” according to Futures & Option Intelligence
RTS June Cash volume was $47.8bn, up +1.64% M/M. OTC volume was $38bn (+5.5% M/M). RTS Standard turnover was $9.6bn (-10.5% M/M). FORTS June total volume was 56.5k contracts (-12.3% M/M).
Penson lost ($0.29) per share in 2Q10 on net revenues of $71.1 million.
Instinet was named “Best Execution Management System Provider” by the readers of the Waters magazine.
LME approved the applications of Standard Chartered and Scotia Bank Europe to become LME Associate Broker Clearing members.
Tullett Prebon may apply for category II membership at the LME.
T. Rowe Price 2Q10 EPS increased +55% Y/Y to $0.59 on net revenues of $577.4 mn (+31% Y/Y). AUM declined -6.7% Q/Q to $391.1 bn at the end of June with net inflows of $5.1 bn and a market depreciation of $33 bn.
Federated Investors 2Q10 EPS declined -12% Y/Y to $0.46. AUM declined -4% Q/Q to $336.8 bn at the end of June.
Invesco is being sued by Select Sector SPDR Trust for infringement of its trademarks for ETFs as the asset manager introduced in April PowerShares funds using XL ticker symbols that SPDR had been using.
E*TRADE reported 2Q10 net income of $35 mn (2Q09: -$143 mn)and EPS of $0.12. Net revenues declined -14% Y/Y to $534 mn, provisions for loan losses declined -59% Y/Y to $166 mn and DARTs declined -16% Y/Y to 170k. Client assets declined -5% Q/Q to $44.3 bn with net new brokerage assets of $2.1 bn.
Interactive Brokers 2Q10 diluted EPS declined -71% Y/Y (flat Q/Q) to $0.09, on revenues of $226 mn (-32% Y/Y). Market making revenues declined -63% Y/Y to $81.7 mn and electronic brokerage revenues increased +20% Y/Y to $144.6 mn.
TradeStation was downgraded to “Market perform” from “Outperform” at Keefe Bruyette. Target price was reduced to $7 from $9.
TradeStation was downgraded to “Underperform” from “Market perform” at Raymond James. Target price was not provided.
CFTC will begin publishing the Traders in Financial Futures (TFF) report which complements the weekly Commitments of Traders (COT) Reports. The new TFF report uses the same data that appears in the COT reports, but separates large traders into four categories
Provided By: Equity Research Desk, www.erdesk.com