EXCHANGE NEWSWIRE, 21 September 2010
OCC was licensed by S&P to clear OTC S&P 500-based options, the first time CCP is available for this type of options, and also OCC’s initial step into OTC equity derivatives clearing.
NYX’s head of European cash equities, Rolande Bellegarde, called for a minimum OTC trade size as “these transactions do not channel market information nor do they have any market impact, there is absolutely no reason for them to remain confidential.”
TOCOM changed the closing hour of its night session from 23:00 to 4:00, and the extended hours apply only to the Precious Metals, Oil and Index markets.
NASDAQ OMX and GFI reached an agreement to offer electronic trading and physical clearing of US power and natural gas.
DB1: Eurex admitted the first five Taiwan-based exchange members to its global distribution network, including Concord Futures, KGI Futures, Polaris MF Global Futures, SinoPac Futures, and Ta Chong Futures, increasing the number of Eurex’s Asian members to 19. The exchange is also studying the viability of opening an office in Taiwan.
CME’s exchanges are now accessible to Trademonster’s customers since the online broker begun offering futures contracts trading to its customers.
LSE is the primary candidate to partner the Mongolia’s Stock Exchange that will open by year end, according to Mongolia PM Sukhbaatar Batbold.
CBOE will publish data on the CBOE/NYMEX WTI Volatility Index (OIV) and the CBOE/COMEX Gold Volatility Index (GVX), the first time CBOE applies its VIX methodology to non-CBOE product data.
HKEx: a scripless securities market will be introduced in Hong Kong in late 2013, “a significant step forward in enhancing the overall efficiency and competitiveness of the Hong Kong’s securities market and in securing an appropriate and improved level of investor choice and protection,” according to the SFC’s CEO Martin Wheatley.
OSE will transfer its derivatives trading to Tokyo in February 2011 and its new equity trading system in 2Q12, according to the Sankei newspaper.
United Stock Exchange (USE) of India begun operations in currency derivatives, and recorded a first-day volume of 9.9mn contracts amounting to a value of almost US$10 bn, becoming the largest Indian currency derivatives exchange with a 52% market share.
Bursa Malaysia successfully transferred its derivatives product range onto CME Globex which promotes greater accessibility for both international and local traders.
MCX Stock Exchange risks the loss of its existing currency derivatives trading business if SEBI does not approval the exchange’s capital recast and equity trading application on September 30.
Bahrain Financial Exchange (BFX) selected RTS Realtime Systems as its high-speed access provider to support the BFX’s trading system.
Swift will link its securities matching system, Accord for Securities, to multiple CCPs including Six x-xlear, EuroCCP and LCH.Clearnet, allowing brokers to send their matched exchange trades directly to a range of providers at a lower settlement cost.
LIME Brokerage launched a high-speed options execution technology, which combines data, execution, clearing, reporting and pre-order risk controls in a single platform.
TradeStation will add securities lending to its prime services offering and appointed Robert Sackett to co-head the Prime Services division and to start up and lead the securities lending department. Sackett was previously Managing Director of Citigroup Global Markets.
The FSA and FINRA signed an MOU to collaborate in their supervision of the world’s largest securities markets and firms.
The Securities and Futures Commission (SFC) of Hong Kong’s CEO Martin Wheatley wrote a Financial Times article stating that the risks of HFT can be addressed if regulators “reduce the speed of HFT activities in times of crisis” or “increase trading costs for HFT”.
The International Swaps and Derivatives Association (ISDA) said that most hedge funds and money managers do not fall under the swap participant definition criteria in the new OTC derivatives law by the CFTC and the SEC, and hence should escape regulation.
Provided By: Equity Research Desk, www.erdesk.com