EXCHANGE NEWSWIRE, 07 September 2010
The European Commission will issue proposals regarding common standards in the EU for derivatives and short-selling activities on 15 September 2010, after a consultative period undertaken by the EC and the CESR.
NYX: BlueNext and APX will form NYSE Blue, a venture that will manage “new types of business risks” related to trading energy, renewables, CO2 allowances and water. APX Chairman, Brian Storms, will be appointed CEO and NYX will be the majority owner. No other terms were disclosed.
Chi-X Global: Tal Cohen, previously head of Chi-X Americas, will be appointed CEO of the company as former-head John Lowrey took charge of MarktPrizm, Chi-X’s pan-European managed infrastructure service and trading venue connectivity system.
DB1 will implement a standardized FIX interface for entering orders to facilitate access and a new interface for netted market data in multicast format in Xetra an Eurex’s trading systems in 2011.
SGX appointed Chew Choon Seng, current chief executive of Singapore Airlines, to replace J.Y. Pillay as its chairman starting 1 January 2011. Pillay will retire on December 31 after serving as chairman of SGX since its 1999 incorporation.
BATS announced the launch of Parallel routing strategies, to enhance its smart order routing services in the US and Europe. The new strategies aim to achieve more efficient execution while accessing multiple market venues simultaneously and more cost effectively.
ASX market data will now be available from the OptionsIT’s Options PIPE platform, a move to prepare for increasing competition in the Australian equities markets.
SIX’s CEO Thomas Zeeb said they “are looking at whether it makes sense to do derivatives clearing.”
SEBI requested that all listed companies in India transfer 50% of non-founder holdings to dematerialized form by 31 October 2010, in order to continue trading in the normal segment on exchanges, or risk being confined to the trade for trade segment. This may cause more than 1,000 firms, most of which are illiquid penny stocks, to be shifted to the trade-for-trade (TFT) segment which only permits delivery-based transactions.
BSE and NSE of India experienced record trading of mutual funds on their online platforms, with both exchanges recording July ADT as the highest since inception, as the number of participants increase and lift turnover.
The National Stock Exchange (NSE) of India will start mobile trading, facilitated on its NOW software, through almost 800 registered brokers in October 2010. This allows clients to view positions, place orders and trade from anywhere within India.
Indian Commodity Exchange (ICEX) signed an agreement with the Federation of Indian Mineral Industries (FIMI) to develop the futures market for iron ore and set up risk-management tools for the industry.
BOX set a new record on price improved contracts in August with ADV of 204k contracts. Derivatives ADV totaled 351k in August.
Qatar Exchange started trading using its new NYX Universal Trading Platform technology. The exchange has plans to be included into NYX’s SFTI network, which links local brokers to US and European exchanges, in early 2011 according to Chief Executive Andre Went.
LCH.Clearnet and SIX x-clear published the full inter-CCP contract covering the interoperability agreement between both clearing houses, which includes integrity of risk management and protection from contagion in event of a default.
ICAP interest-rate swap volume was €1.3b on the first day of trading.
MTS appointed Gabriele Frediani as Head of Markets. Mr. Frediani was previously a consultant of Business Development for Eurex Bonds and Eurex Repos.
Sucden Financial signed an agreement with Gold-i and DealHub which enables the commodity and financial derivatives broker to offer MetaTrader 4 connectivity to the retail FX broker market.
Fidessa’s Software as a Service (SaaS) sell-side trading platform was selected by BHF-Bank to support its equity trading arm.
Julius Baer is planning to open a Hong Kong booking office by the end of the year and a representative office in Shanghai and a trust company in Singapore by 2011. The bank is planning to double its staff in Asia and to increase AUM in the region to 25% of total.
European Union Internal Market Commissioner Michel Barnier said “No one will escape” the future tighter financial supervision in the EU, which gives the three new pan-EU supervisory bodies more centralized control on activities such as OTC derivatives and short selling.
European Central Securities Depository Association (ECSDA) opened a permanent office in Brussels and appointed Soraya Belghazi as its first secretary general. This follows as settlement and back office clearing issues increase in importance on the regulatory agenda.
UK’s FSA appointed Margaret Cole as Managing Director of Enforcement and Financial Crime. Ms. Cole joined the FSA in 2005.
Irish regulators relaxed financial market rules in a bid to place Ireland as the leading European center for onshore hedge funds, a move in response to its battle with Luxembourg for market dominance.
Brazil was voted BRIC market with the greatest buy-side demand for better connectivity at 36% in theTRADEnews.com’s August poll. Following second was India with 27%, then Russia with 21% and lastly China with 16%.
The Energy Market Authority (EMA) of Singapore sees potential for a carbon trading market in Singapore after the launch of SMX and energy-related derivatives, although that is unlikely in the near future.
The Indian government is considering invoking an amending in fund-raising rules to allow companies to allocate up to a tenth of IPO size to public shareholders in group companies, a change that will enable the government to raise large amounts of money.
Provided By: Equity Research Desk, www.erdesk.com