EXCHANGE NEWSWIRE, 20 September 2010
NASDAQ OMX will launch PSX on October 8, a US equities-trading platform aimed at attracting block orders that usually go to “dark pools”, in an attempt to help exchanges shake off competition from ATSs.
NYX, Nasdaq OMX and BATS proposed new rules for market-making, including an obligation to keep quotes within 8% of the best price available nationally.
CME requested that CFTC reconsider its rule allowing the offering of ELX Futures’ exchange of futures for futures (EFF) contract, which the exchange claims is equivalent to “wash trades” and hurts customers. CME also said that a ban on the EFF contract is not anti-competitive.
NYX hired a Senate Agriculture Committee Republican staffer, Dawn Stump, to garner support for its derivatives business starting this coming week.
LSE is currently in discussions with Wall Street and European banks regarding building and funding a London-based clearing house, a sign of intensifying direct exchange control of a clearing house.
TSX and Oslo Børs will sign a MOU which mainly consists of “a framework to promote and facilitate dual listings on each other’s exchanges,” said Oslo Børs spokesman, Per Eikrem.
HKEx’s CEO, Ronald Arculli, indicated that the exchange is processing 90 IPO applications.
Minneapolis Grain Exchange’s (MGEX) transfer of contract market designation and derivatives clearing organization registration, as well as its bylaws and the addition of the Certificate of Incorporation to MGEX’s rulebook was approved by the CFTC.
PSE delayed the opening of September 20 trading session; no reason was provided.
Clearstream launched an RMB-settlement system for RMB held outside Mainland China. Bonds issued through the Hong Kong Central Moneymarkets Unit will also be eligible for settlement.
The European Union announced its intention to include commodities in its new financial markets rules to tighten control on commodity markets speculation.
The European Union’s financial services commissioner, Michel Barnier, said he would take a “very, very close look” at the overhaul of the EU market rules, after the changes experienced by the financial world such as “new ways of dealing with processing of transactions” and “the emergence and multiplication of new players including high-frequency traders.”
SEBI clarified that if equilibrium price is not discovered in the pre-open session, then the market orders are to be matched at the prior day’s closing price. All unmatched orders shall be shifted to the normal market order book at the previous day’s closing price prioritized according to time.
FSA appointed Gerard Lemos as Chairman of the Consumer Financial Education Body (CFEB). Mr. Lemos is currently a partner at Lemos&Crane and heads its research team.
Provided By: Equity Research Desk, www.erdesk.com