EXCHANGE NEWSWIRE, 05 April 2010
DirectEdge is planning an IPO. “We're building Direct Edge to be an enduring company and that's really the strategy. An IPO can easily be a significant part of that strategy, and it remains a significant part of our strategic thinking in the intermediate term," CEO Bill O’Brien commented.
DirectEdge will cease to offer liquidity-provision rebates for stocks trading below $1 per share on its EDGX platform and the fee for removing liquidity in sub-$1 stocks will be reduced from 0.3% to 0.1%, starting today.
NASDAQ OMX CFO Adena Friedman said "all of the firms that have been testing IDCG are really pleased with the way the instrument operates. Then, of course, the question is, how much business are we able to attract."
NASDAQ OMX launched a Portfolio Manager Application for Apple’s iPad.
NASDAQ OMX was the market share leader in stocks and ETFs options in March with 27.6% summing its two options exchanges.
CME March ADV rose 2% Y/Y to 11.0 mn contracts on 30% higher interest rate volumes and 35% lower equity index volumes. Rolling 3M RPC declined 140 pips to $0.838.
ICE total ADV increased 24% Y/Y to 1.29 mn contracts in March 2010. Rolling 3M RPC declined four cents to $0.92 for US financial futures, three cents to $2.12 in US agri futures and one cent to $1.53 for European futures. 1Q10 OTC energy ADC rose 3% sequentially to $1.37 mn while CDS execution and clearing revenues increased 5% sequentially to $41.4 mn.
MCX will allege today at a hearing at the Supreme Court of India that the Central Electricity Regulatory Commission is preventing its entry into the forward power contracts market. There is a dispute on jurisdiction over forward contracts in the power market between CERC and the Forward Markets Commission.
Kuwait Stock Exchange suspended 21 companies due to delayed disclosures.
Chi-X Europe CEO Alasdair Haynes said in an interview with The Trade News “Index providers have been open and receptive- to include MTFs in Index calculations-, but the general feedback has been that they will only include us if clients demand it. But even with increased demand, index providers have also indicated that it may not be until 2013 that MTFs will be included in national indices, which is ridiculous.” A recent TRADE Poll shows 84% of respondents voted in favor of the inclusion of MTFs in index calculations.
Henderson is leading a bid for Sun Trust’s asset management business, RidgeWorth Capital Management (with $36 bn in AUM), which includes Seix Investment Advisots (a $24.6 bn fixed-income boutique), as well as equity boutiques Silvant Capital Management, Cerex Value Advisors, Zevenbergen Capital Investments and Certium Asset Management, in a deal valued at $300-$400 mn, as Pensions & Investments reported.
Invesco will take over Morgan Stanley’s Japanese equity management in July according to the Nikkei English News.
Och-Ziff AUM reached $25.3 bn on April 1, a net increase of $0.7 bn.
InteractiveBrokers March cleared DARTs declined -9.6% M/M (-11.1% Y/Y) to 303k, client accounts increased +1.7% M/M (+21% Y/Y) to 140k and customer equity increased +5.0% M/M to $16.7 bn (+74% Y/Y).
BM&FBovespa was upgraded to "Overweight" from "Neutral" at J.P. Morgan. Target price was raised to R$17 from R$15.
US Senator Sherrod Brown (D-Ohio) is seeking to restrict banks' stakes in clearinghouses for OTC derivatives.
US Senate Agriculture Committee will review the OTC Derivatives bill after Congress resumes sessions after the April recess.
Provided By: Equity Research Desk, www.erdesk.com