EXCHANGE NEWSWIRE, 01 October 2010
SEC: the May 6 flash crash is said to have been caused by a single trade by Waddell & Reed, which sold a large amount of e-mini futures contracts during the plunge. However, the regulator’s investigation report will not identify it by name, but will use the term “entity” instead, according to Bloomberg.
NYX Liffe will not be affected by CFTC’s ownership limits of banks and other swap dealers in exchanges and clearinghouses, according to CEO Tom Callahan.
Nasdaq OMX: The Nasdaq Stock Market ammended its circuit-breakers settings so that the trigger is set off after three versus one erroneous order previously.
TMX partnered trans-Atlantic connectivity provider Hibernia Atlantic to provide clients with a low-latency direct link from TSX, TSX Venture Exchange and the Montreal Exchange to key financial centers outside of Canada.
CME appointed Alice Hackett as Managing Director, Global Client Development & Sales. Ms. Hackett was previously Managing Director, Co-Head of Global Prime Finance at Citigroup.
NSE set a new daily equity derivatives trade record on September 30, with 7 mn contracts and total turnover of INR2.1 trn, both 12% higher than previous high set on January 28 this year.
Japan Climate Exchange director Masanori Eto said that “as more regions join, it becomes more likely that the Tokyo program is adopted as the national system,” and that “we anticipate the creation of an Asian and American market to match Europe, but it will take time.”
Tradeweb performed its first electronic tri-party IR swaps trade between MPS Capital Services and Credit Suisse, which was cleared by LCH.Clearnet.
UNX upgraded its Catalyst execution management system (EMS) to extend trade support to European markets and also enhanced real-time trade management, benchmarking capabilities and order management system functionality.
SEC filed a complaint against State Street Bank & Trust two employees for misleading investors about their exposure to subprime investments.
GETCO hired ex-UBS head of equities Daniel Coleman to be its business development team’s managing director.
Julius Baer was downgraded to "Market Perform" from "Outperform" at Keefe, Bruyette & Woods. Target price was reduced to CHF40 from CHF44.
SEBI published a list of 197 foreign institutional investors and 342 sub-accounts which have been barred from taking positions in the local cash and derivatives markets for failure to comply with disclosure rules.
CORRECTION: SEC’s Section 31 fee rate applicable to on-exchange and OTC securities transactions will increase from 0.169 bps to 0.192bps 30 days after the date of enactment of the Commission's regular fiscal year 2011 appropriation.
Provided By: Equity Research Desk, www.erdesk.com