EXCHANGE NEWSWIRE, 23 September 2010
CME’s IR swap clearing systems are operationally ready for a late 2010 launch, introducing competition against LCH.Clearnet and Nasdaq OMX’s International Derivatives Clearing Group.
NYX: NYSE Liffe will extend its FTSE 100 Index Futures contract availability into Asian trading hours starting October 4. The new opening hour will be at 01:00 London time, seven hours earlier than the current opening time, but closing and daily settlement times will remain the same.
LSE: Borsa Italiana extended its partnership agreement with Cinnober for the real-time market data system DDM Plus for another year till end- 2011.
ICE plans to introduce around 100 new products by 1H2011 according to president of ICE Clear Europe, Paul Swann. The majority will be energy-related.
CBOE filed a request with the SEC to lower its credit-default options settlement price to less than $100 k.
OSE will revise its futures and options trading fee schedule starting February 14, 2011. Stock index futures fees will be changed from being value-based to volume-based; stock index options will be amended and derivatives trading access fees will be abolished. Public comments on the draft fee schedule are invited.
SGX enhanced its Securities Borrowing and Lending service, allowing over 80% of the stocks listed on SGX Mainboard and Catalist to be eligible for lending or borrowing via the Central Depository (CDP).
SMX welcomed Glencore Singapore, subsidiary of Glencore International, as a trade member of the exchange in addition to its pioneer sign-ups Vitol and TransMarket Group.
Bursa Malaysia: Malaysia Marine and Heavy Engineering will list a $500m IPO by on October 29 with an IPO price set at RM3.80 per share, one of the largest Southeast Asian IPOs this year.
Thailand Futures Exchange (TFEX) will reduce trading and clearing fees on its SET50 Index Futures for it members by 5% to 50%, according to members’ monthly trading volume. The reduced rates will be available from October 1 to December 31.
RTS: FORTS’ EUR/USD futures trading volume reached a record high of 389,889 contracts, exceeding RUB16 bn through a total of 9,862 trades.
Istanbul Stock Exchange (ISE) will introduce order cancellation for the first time in early October, allowing orders to be either completely cancelled or amended downwards.
ICAP appointed Hsieh Fu Hua as a Non-Executive Director, starting January 1, 2011. Mr Hsieh Fu Hua is currently Executive Director and President of Singapore’s Temasek Holdings.
TD Ameritrade was upgraded to “Buy” from “Neutral” at Goldman Sachs. Target price was increased to $20 from $18.
optionsXpress was downgraded to “Sell” from “Neutral” at Goldman Sachs. Target price was maintained at $16.
SEC Chairman Mary Schapiro commented that trading rules for derivatives markets should “reflect the virtues of the current equities market: competition, access, liquidity and transparency.” Schapiro also said that all swaps should be reported in real time to “reduce information asymmetries.”
SEC’s internal watchdog said the timing of SEC’s fraud lawsuit against Goldman Sachs was “suspicious”, and suggested that it was used to distract attention from a report criticizing SEC for failing to detect a supposed Ponzi scheme.
Malaysia was upgraded to “advanced emerging market status” from “secondary emerging market status” in the FTSE Global Equity Index Series.
Provided By: Equity Research Desk, www.erdesk.com