EXCHANGE NEWSWIRE, 08 April 2010
LCH.Clearnet received FSA approval to extend SwapClear, its interest rate swap clearing service, to buy-side firms in Ireland and Switzerland.
CBOE will begin trading quarterly options on the SPDR gold Trust (GLD) this Friday.
BME announced the creation of the Sistema Electrónico de Negociación de Deuda (SEND), an electronic trading platform for corporate fixed income for retail investors that will start operating on May 10th.
LSE: Essar Energy plans a $2.5bn IPO on the exchange.
NYX: NYSE Technologies and Unitelco launched NYSE Technologies’ SuperFeed, the first real-time market data delivery service to Brazil, with a transmission speed of 70 ms.
NYX EU equity derivative ADV ex-Bclear was down 4% Y/Y to 1.08 mn contracts in March, EU interest rate derivatives ADV rose 24% Y/Y to 2.6 mn contracts, NYX options ADV rose 39% Y/Y to 3.56 mn contracts. EU cash transactions declined 12% to 646,500 and US handled cash equities ADV dropped 47% Y/Y to 2.36 mn shares.
BM&FBOVESPA will auction 180,000 voluntary carbon units from projects managed by the Social Carbon Company after it reached the minimum requirements.
MarketAxess appointed Paul Ellis as Head of MarketAxess Europe, effective April 12. Mr. Ellis was CEO of CreditTrade, a voice broker for CDS, indices and structured products, and previously, CEO of Mutant Technology, a financial software company specializing in internet technology applications.
PIMCO selected SEI to provide separate account outsourcing services for its Laddered Municipal Bond strategy fund.
Gartmore and Hermes's fund of funds operations will merge to create a joint venture with £4.1bn under management.
CFTC general counsel Dan Berkovitz said regarding OTC clearing exemptions to end-users that “it’s hard to draw a line as to who is hedging and who is speculating. We are working hard with Congress to ensure the language used is tight enough so that hedge funds and other non end-users that do have capital for collateral do not find a loophole.”
SEC unanimously voted new rules for ABS requiring issuers to disclose more information about the underlying loans and keep 5% of the credit risk in certain circumstances.
FSA fined Getco (£1.4mn), Credit Suisse (£1.75mn) and Instinet Europe (£1.05mn) for “multiple breaches that resulted in failures to provide transaction reports promptly and correctly to the FSA”. Companies’ representatives said they were sorry for the breaches and seemed comfortable with the settlement of the issue.
EU Financial Services Commissioner Michel Barnier said “access to the European single market should be granted to managers and funds domiciled in third countries, including the US, provided that high level standards of transparency and security are agreed.” The rules proposed by the European Union are not protectionist and does not block US fund managers, Barnier said.
EU Parliament Members called for limits in the transfer of personal data to the US by processing transactions within the EU. SWIFT currently transfers bulk data as it doesn’t allow for an individualized approach.
Australia’s Financial Services Minister, Chris Bowen, said the country won’t limit the number of exchanges and added “There will be competition on pricing, there may well be competition on speed of transaction, we won’t be setting prices, the market will determine that.”
Provided By: Equity Research Desk, www.erdesk.com