EXCHANGE NEWSWIRE, 09 September 2010
The CFTC would exempt from proposed disclosure and recordkeeping requirements commodity ETF pool operators in certain cases where participation units in their commodity pools were listed on a national securities exchange after being issued in registered public offerings.
CME will launch E-micro gold futures on CME Globex on October 3. These contracts are one-tenth the size of the benchmark 100-oz full-size gold futures contract, carry smaller initial margin requirements, have lower trading fees and will be listed by and subject to the rules and regulations of COMEX.
CME indicated that expects faster growth in overseas trading than in the US through 2011 and that it plans to double its headcount in Europe to 250 in two years and “significantly” increase its Singapore office by 1Q2011, according to Bob Ray, Managing Director of International Products and Services.
NYX will provide direct connectivity between NYSE Technologies’ Marketplace community Broker-Dealers and execution destinations globally and Eze Castle Integration’s Private Network, which serves as the communications gateway for more than 300 buy-side firms.
LSE: QuantHouse will offer an ultra-low latency order routing service to clients located in LSE's central London data centre that allows access to all major European and US execution venues.
TMX issued a position paper urging regulators to take its views and recommendations into consideration when implementing international amendments to the OTC derivatives markets in Canada.
CBOE will list weekly options on VIX index, starting September 28.
SIX x-clear announced price cuts of between 15% – 30% and a less complicated volume-based tariff model that will commence 1 January 2011. This new structure allows the aggregation of a client’s monthly volume through all of SIX x-clear markets to contribute to total transaction volume, providing substantial discounts for its largest clients.
KRX will start providing an English conversion service for disclosures of listed companies from September 13.
Bursa Malaysia approved CITIGROUP Global Markets Malaysia as a Participating Organisation, Authorised Depository Agent and Trading Clearing Participant of Bursa Securities.
Jakarta Futures Exchange has gone live with a new integrated trading, surveillance and risk management system from Trayport Exchange Systems and 3i Infotech.
LCH.Clearnet’s clearing service was chosen by Banca Monte de Paschi di Siena SpA of Italy to clear $200 bn of interest rate swaps transactions, a move in response to greater participation and transparency in OTC markets.
Instinet appointed Alison Crosthwait as Director, Global Trading Research. Ms. Crosthwait was previously Head of Research at ITG Canada.
DB1: ISE is trimming its staff base as it suffers a falling US market share, which fell from 28% a year ago to 20% YTD. Headcount might be reduced to 220.
T. Rowe Price’s board increased its common stock buyback program authorization by 15 mn shares, for a total 22.4 mn shares or 8.7% of shares outstanding.
T. Rowe Price appointed Robert F. MacLellan as an independent director of the board. Mr. MacLellan is currently a non-executive chairman of Northleaf Capital Partners
Visa was downgraded to “Underperform” from “Neutral” at Bank of America. Target price was set at $70.
The SEC and CFTC will hold joint public roundtables on September 14 and 15 to discuss swap data repository (SDR) registration, functions and responsibilities and swap execution facilities.
FSA fined Goldman Sachs £17.5 mn for not informing the UK watchdog that it had been under SEC investigation for fraud this summer, one of the heaviest fines ever imposed by the FSA.
French Finance Minister Christine Lagarde said “we consider European regulation of trading in commodity derivatives to be insufficient.”
Provided By: Equity Research Desk, www.erdesk.com