EXCHANGE NEWSWIRE, 26 July 2010
Eris Exchange starts trading interest rate swap futures contracts today. Eris will convert IR swaps to futures contracts, customized with any coupon rate and maturity with a face value of $1 mn. Neil Brady, former managing director of CME and managing partner of Third Stone Partners, was appointed as CEO of the exchange.
CME: the Green Exchange was recognized by the CFTC as a designated contract market, becoming the fourth US exchange run by CME. GreenEx will list for trading environmental risk management contracts that are currently traded on NYMEX including EUA, CER, CAR, RGGI, NOx and SO2 futures and options emissions allowances.
NYX will create the first pan-European MTF for corporate bonds. It will be open to all regulated institutions authorized to operate in Europe and will trade euro denominated fixed and floating-rate non-sovereign bonds.
NYX recommended that regulators introduce a circuit breaker for the components of a broad-based stock index like the S&P 500. NYX also called for tightening current thresholds.
CME: Dow Jones Indexes will change its index methodology to allow the inclusion of offshore-companies with a primary listing on a U.S. stock exchange in the Dow Jones U.S. Total Stock Market Index.
BME approved JPMorgan, Merrill Lynch and Royal Bank of Canada as full members on BME’s electronic Public Debt platform (SENAF).
EEX: Europe’s biggest CO2 emitter, RWE, indicated that it shifted some of its carbon trading to EEX from the European Climate Exchange.
SGX will list dollar-denominated Euro Stoxx 50 Index futures and options on futures, subject to regulatory approval. SGX and DB1’s Eurex, owner of the index proprietor Stoxx, will jointly market and promote the dollar-based contracts.
Philippine Stock Exchange rolled out its new trading system provided by NYSE Technologies. PSE said it suffered "a glitch in the index values and market statistics affecting market data feed, the electronic board and the PSE website." PSE alerted investors to disregard the erroneously calculated 14% gain in the benchmark index.
DFM reported 1H10 net profit of AED79. 5mn (-57% Y/Y) and 2Q10 net profit of AED25.9 mn on revenues of AED 69.7 mn.
NASDAQ Dubai 1H10 turnover totaled $728 mn (+52% Y/Y). June equities traded value declined -19% Y/Y to $61 mn.
JSE is in early talks with First Bank of Nigeria to list its shares for increasing liquidity for investors.
Tehran Stock Exchange launched single stock futures. Parsian Bank and Karafarin Bank’s stocks have been selected to be listed.
Knight acquired Astor Asset Management, a money management firm specializing in macro-economic strategy and ETF portfolio construction, for $20 mn in cash and stock. The firm has 13 employees and $560 mn in AUM.
CBOE: UBS, Credit Suisse and JP Morgan each initiated CBOE with a Neutral. Citigroup initiated CBOE at Hold, and KBW at Market Perform. Sandler O'Neill initiated CBOE at hold with a target price of $29.
BMV was upgraded to “Buy” from “Hold” at Banco Santander. Target price was raised to MXN25.50 from MXN23.00.
The UK government is considering merging the Listing Authority with the Financial Reporting Council.
Japan’s FSA extended temporary restrictions on short selling and the purchase of own shares by listed companies.
Provided By: Equity Research Desk, www.erdesk.com