EXCHANGE NEWSWIRE, 26 August 2010
NYX: NYSE Liffe received approval from the Hong Kong Securities and Futures Commission to provide automated trading services in Hong Kong, allowing them direct access to trade on its London market through Liffe Connect.
NYX will move to a new data center all its NYSE and Amex equity markets trading systems. Migration of the options markets, electronic Arca platform, futures markets and European markets will follow in the coming months, as part of a strategy to increase its technology services. According to COO Leibowitz, hundreds of customers have already signed up for co-location services.
DTCC acquired a 10% stake in Depósito Central de Valores (DCV), the Chilean Central Security Depository. DCV has $214bn in AUC.
CME is investigating Infinium Capital Management for an error in trading the NYMEX crude oil contracts on February 3 2010, resulting in a $1 US crude futures spike in less than a minute. Infinium said it “was a result of a human error” and that they “made modifications to the software architecture to ensure that this type of error is never repeated.”
CME: A director and an executive bought a total of 6,000 shares worth $1.5 million, the largest insider purchase in seven years.
NASDAQ OMX and DWS Investments launched the DWS NASDAQ-100 Volatility Target Index, which provides variable exposure to the NASDAQ-100 Index using a volatility control mechanism designed to limit risk by dynamically adjusting exposure between the NASDAQ-100 Index and a cash investment
CBOE President Edward Joyce sent a letter to the SEC saying ISE’s accusations on certain fees applied to orders executed at the CBOE are "completely baseless". "ISE is attempting to improve its competitive footing by submitting and publicizing unfounded regulatory complaints," Joyce said.
CBOE’s stock exchange daily volume reached a record of 118.8 mn shares Tuesday, breaking the 100 mn mark for the first time its 2007 launch.
Taiwan Stock Exchange listed its first Taiwan Depository Receipt: a Chinese shipbuilder. The exchange is targeting 10 depository receipt listings from Singapore-based corporations this year.
NZX is set to launch its Global Whole Milk Powder Futures (WMP) contract on October 8. NZX Dairy Futures will be traded on GlobalVision, NZX’s electronic platform and cleared by New Zealand Clearing Limited.
NDAQ was downgraded to “Equal-Weight” from “Overweight” at Morgan Stanley. Target price was reduced to $22 from $25.
SCHW was downgraded to “Equal-Weight” from “Overweight” at Morgan Stanley. Target price was reduced to $15 from $18.
The SEC has adopted new measures requiring company proxy materials to disclose nominees of significant shareholders, allowing easier director nominations by shareholders owning at least 3% of the company.
FESE responded to a CESR consultation paper on Standardization And Exchange Trading Of OTC Derivatives indicating that it agrees with CESR’s analysis and that “standardization is desirable and that all products that can be standardized should be standardized: where appropriate, and to the maximum extent possible, OTC derivatives should benefit from legal, process and product standardization in order to significantly reduce operational risk, facilitate clearing and facilitate reporting of regulatory information to supervisors.”
Provided By: Equity Research Desk, www.erdesk.com