EXCHANGE NEWSWIRE, 03 September 2010
HKEx may have its trading monopoly status secured as it might be excluded from the Competition Bill published by the Hong Kong government’s Executive Council.
The European Union reached an agreement on financial supervision reform, clearing the path for the establishment of three pan-Europe bodies which will supervise regional controls on insurers and banks starting January 2011. Formal approval by the parliament and member states is still needed for the plan to materialize.
NYX: NYSE Arca will be headed by Lee Hodgkinson from 6 September 2010. Hodgkinson is currently the CEO of SmartPool, head of European sales and relationships for NYX as well as a non-executive director of SecFinex.
BSE might see competition from the Interconnect Stock Exchange of India, which plans to launch its nation-wide trading platform by end 2010 pending SEBI approval, and is offering lower pre-launch membership fees to attract brokers after BSE reduced its membership fees.
RTS: FORTS started trading the 5-year USD/RUB futures contract with settlement on September 2015.
RTS: FORTS will make a load testing of its trading system with the involvement of market participants on September 18.
NZX: NZCDC Settlement System gained "designated" status by the Reserve Bank of New Zealand and Securities Commission.
NZX was selected as one of the Best Under a Billion list for 2010 for the Asia Pacific region by Forbes magazine.
European Multilateral Clearing Facility (EMCF) started clearing 50 International Depositary Receipts (IDR) Chi-X Europe and BATS Europe at the lowest price in Europe. EMCF will charge €0.01 for all executions in excess of 100,000 per clearing participant per day and €0.03 for the first 100,000 contracts cleared.
Chi-X Europe started trading in International Depository Receipts (IDRs). Coverage in this new market segment includes 50 stocks from 12 countries including India, South Korea, Russia and Cyprus.
BGC Partners launched completely-electronic euro interest rate swaps on its new hybrid technology BGC Trader IRS platform which utilizes the Volume Match tool.
Fiserv unveiled its new RemitStream Remote Property Management Lockbox solution which automates the process of assessment collection and improves cash flow.
Getco appointed ex-NYSE Arca Europe head Virginie Saade to take charge of sales for its newly launched dark pool share-trading platform, Getco Execution Services (GES).
IMAREX was upgraded to "Buy" from "Hold" at Terra Markets. Target price was raised to NOK55 from NOK54.
CFTC concluded that quote-stuffing was not the main reason for the May 6 flash crash, but no definite conclusion has been reached regarding the root cause. Commissioner O’Malia commented that the CFTC “must look beyond the traditional pit trading enforcement rules and adapt our oversight and enforcement capabilities to a wide range of computer trading behavior to ensure futures markets continue to provide price discovery and hedging functions.”
European regulators dropped proposals which compel non-financial companies to use clearing houses when trading OTC derivatives.
Hellenic Capital Market Commission (HCMC) lifted its shares short-selling ban on the Athens Exchange, but its naked short selling ban will still be in place.
Provided By: Equity Research Desk, www.erdesk.com