EXCHANGE NEWSWIRE, 27 August 2010
BATS Europe plans to offer trading of Depository Receipts on its Integrated Book and Dark Book once EMCF reviews and grants its approval. The DRs list will include an initial 50 instruments, and the Smart Order Routing service will be also be available for onward routing to MTFs including the LSE International Order Book.
CESR received a rebuttal from LSE, NYX, and DB1 to its proposed rules aimed to create greater transparency in European OTC derivative markets. The region’s largest exchanges argue that participants may incur unnecessarily higher costs as a result of the planned legislation which they believe covers too wide a scope of products.
CESR: Alternative Investment Management Association said “it is unclear how firms that choose to report directly to the competent authority (as currently required by MiFID) will get the information to the trade repository, which is intended to be a source for all national regulators, competent authorities and other relevant bodies. Duplicative reporting to competent authorities and the trade repositories is inefficient and should be avoided.”
ICE Futures Europe set a new daily record for ECX Certified Emissions Reductions (CER) of 12k contracts.
MCX Stock Exchange is conducting mock sessions to test its currency options trading platform, and is currently seeking approval from the SEBI to launch trading in its currency options trading.
PSE alerted the investment public to “disregard” benchmark equities index data and that correct indices will be posted from time to time.
NZX appointed James Miller to its board of directors, starting October 2010. The new director was most recently a board member and Head of NZ Wholesale Equities in Craigs Investment Partners in Auckland.
State Street is in negotiations to acquire Bank of Ireland’s asset-management business (BIAM) with AUMs of €25 bn.
TD Ameritrade reached an agreement with Barclays Bank to purchase up to 12m shares of its common stock for $170m. The operation is part of the 30m share repurchase authorization announced on August 9.
PayTrace announced its integrations with the Chase Paymentech Tampa processing network, the outcome of which is aimed to provide its Resellers with a wider network selection for transactions-processing.
The CFTC Commissioner Scott O’Malia commented on the importance of developing “rules and regulations that are more appropriate to policing the high-speed nature of today's computer-aided trading styles”, a response to the recent high-frequency trading glitches.
The Hellenic Capital Markets Commission announced that covered short selling on ATHEX-traded listed shares will be allowed from 1 September 2010, but naked short selling will remain prohibited.
The CFTC will publish a Federal Register notice to gather suggestion from the public regarding its proposed rulemaking areas to execute the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Provided By: Equity Research Desk, www.erdesk.com