EXCHANGE NEWSWIRE, 23 August 2010
HKEx: General Motors abandoned plans to lists its shares in Hong Kong because of the “cost and complexity” of clearing “all the regulatory issues,” according to Reuters.
TOCOM and SMX will use KVH-SingTel’s low latency network solutions to connect with market participants; this will allow the exchanges to facilitate an ultra low-latency and fully redundant network service between Japan and Singapore.
The Stock Exchange of Thailand (SET) and FTSE announced the first truly real time index service for the Thai market; the FTSE SET Large Cap Index will be delivered on a streaming, intra-second basis, rather than the standard 15 second tick dissemination for real time indices.
The Palestine Securities Exchange announced its new corporate identity after its transformation into a public shareholding company. The Palestine XCHANGE (PX) will be launched in September.
LCH.Clearnet: LSE’s CEO, Xavier Rolet, resigned to LCH.Clearnet’s Board of Directors.
GFI withdrew the previously announced offering of senior notes while the Company and its advisors assess certain alternative structures. The Company might undertake an offering of senior notes later on, subject to market and other conditions. CEO Michael Gooch said "the decision to withdraw at this time was based on the careful consideration of a number of factors, including alternative structures that have been proposed by potential investors.”
GFI implemented IPC Systems' IQ/MAX trading solution. IQ/MAX provides specialized trading communication applications for its brokers in Santiago, Chile.
Deutsche Bank started dark pool trading in Hong Kong and plans to offer off-exchange trading in Australia, Japan and Singapore according to Head of Equity and Equity-Linked Execution for the Asia-Pacific Region.
ITG was named Overall Top Pick in the CSA Brokers category in the 2010 Integrity Research Associates' ResearchFocus survey on CSA and Client Commission Agreements (CCA).
MF Global CEO, Jon Corzine, said "soon we'll be in the money management business and ultimately under the investment banking business, all designed around where our strengths are," according to Financial Times. He added "If we aren't well along that plan in three years, I would be very disappointed … We have natural baseline knowledge of natural resources and commodity-based activities, and we'll use that to grow."
TradeStation acquired Portfolio Maestro "Portfolio Testing" software technology from Rina Technologies company for $5 mn in cash and shares.
The Wholesale Markets Brokers' Association, Americas (WMBAA), called on the CFTC to ensure "open and non-discriminatory access to swap clearing organizations". "Direct or indirect impediments created to enhance a clearing organization’s affiliated trading platform would frustrate Congressional intent," the WMBAA said.
Provided By: Equity Research Desk, www.erdesk.com