EXCHANGE NEWSWIRE, 02 August 2010
ELX Futures eliminated the minimum daily trading requirements to be eligible for the lower $0.18 trading and clearing fee in Eurodollar contracts.
BM&FBovespa will reduce brokerages’ average monthly fixed costs by -30% starting this month and will extend it to -50% by 2011; Carlos Eduardo, a director of the brokerage association, commented to Brasil Economico
TMX: real time updating of the S&P/TSX composite froze for more than an hour on Friday due to technical difficulties.
SGX 4Q2010 net income declined -13% Y/Y to SGD79.6 mn on operating revenues of SGD162.3 (-4.5% Y/Y) and expenses of SGD70.8 (+10% Y/Y). ADV for the quarter declined -9.3% Y/Y to SGD1.56 bn.
SGX’s CEO, Magnus Bocker, said the exchange is looking at India for growth according to PTI. Magnus sees increased participation from leading Indian banks operating in Singapore, strong interest from the Indian business community in SGX listed companies and incentives from the Indian government’s as it plans to increase the volume of Indian firms and listing of state-owned companies.
Shanghai Stock Exchange: the Chinese government plans to allow foreign firms to list on the exchange “sometime next year” as the government plans to establish Shanghai as a global financial centre.
HKEx is planning to introduce faster securities transactions systems that will allow high-frequency trading, said CEO, Charles Li, according to Ming Pao Daily News.
KRX will lower the tick size for stocks priced less than 1,000 Won per share from 5 Won to 1 Won, starting October 4.
United Stock Exchange of India: ICICI Bank acquired a 1.33% stake in new exchange.
National Spot Exchange of India started spot trading of gold bars and coins.
Bombay Stock Exchange (BSE) and the Options Industry Council (OIC) partnered to expand options education in India. The agreement includes sharing online content, case studies, research and white papers promoting the responsible use of options.
Thailand Futures Exchange launched today the 10-baht gold futures and traded 1,089 contracts on its first day.
The Bahrain Financial Exchange (BFX) reached a licensing agreement with FTSE to list, trade and market derivatives products based on FTSE’s regional and international indices. The first phase to launch in October will include FTSE Emerging, FTSE Europe, FTSE BRIC 50, and FTSE Coast Kuwait 40.
The Bahrain Financial Exchange (BFX) appointed Ratings Intelligence Partners as its Shariah Advisor.
Knight acquired Astor Asset Management, an ETF portfolio construction firm, for $20 mn in cash and stock. Astor has around $560 mn in AUM and 13 employees, its founder, Robert Stein, signed a four year employment contract. The deal is expected to close in 4Q10.
Direct Edge selected Correlix’s RaceTeam service to provide real-time information on the latency levels of its order execution and market data feed on EDGX and EDGA exchanges.
Visa and MasterCard: AT&T, Verizon Wireless and T-Mobile USA are working on a venture with Discover Financial Services and Barclays to develop a system that will allow consumers to pay with their mobile phones.
MasterCard appointed Ed McLaughlin as Chief Emerging Payments Officer. Mr. McLaughlin was previously an executive for Franchise Development Group.
MasterCard appointed Eileen Simon as Chief Franchise Development Officer. Ms. Simon was previously group executive, senior associate general counsel.
Redecard’s CEO, Roberto Medeiros, said the company is facing a shortage of electronic payment machines.
AllianceBernstein 2Q10 GAAP Diluted Net Income per Unit declined -24% Y/Y to $0.31 on net revenues of $688 mn (-5% Y/Y) and operating income of $108 mn (-19% Y/Y). AUM declined -9% Q/Q to $458 bn on net outflows of $4.7 bn.
AllianceBernstein appointed Neil McMahon and Ben Dell as co-heads of a new team that will focus on investments in “early stage” energy exploration projects worldwide. Mr. McMahon and Mr. Dell were previously analysts at Sanford C. Bernstein & Co.
The CFTC approved a new rule that allows trustees handling bankruptcies of commodity brokers to continue operating the business to maintain customers' trading. "The adoption of the rule would provide the commission with the latitude to handle unanticipated events."
Provided By: Equity Research Desk, www.erdesk.com