EXCHANGE NEWSWIRE, 24 June 2010
OCC CEO Wayne Luthringshausen said the clearinghouse is seeking access to the Fed’s discount window in cases of a member defaults. OCC would have US Treasuries as collateral for any short term borrowings.
DB1: management said they don’t expect a "significant" increase in capital requirements. They also expect a long-term surge in Eurex volumes due to OTC moving to exchange, increases in algo trading and cyclical drivers. They expect 2010 net interest income to be lower than it was in 2009.
ICE: employees at Creditex and Tullett Prebon were fined by FINRA for being part of improper discussions with competitors regarding fees charged for CDS trading. FINRA also fined Phoenix Partners and three of its employees $3 mn for attempting to influence fees.
ICE selected SMARTS to install its market surveillance platform, SMARTS Integrity Platform.
Bursa Malaysia: the Malaysian Government's issued a MYR2.4 bn Sukuk listed on Bursa Suq Al-Sila'.
Istanbul Stock Exchange was approved by the Federation of European Securities Exchanges (FESE) as a full member, starting July 1.
NSE’s F&O segment set record turnover in Index Options of INR890 bn.
LCH.Clearnet will start clearing cash-settled OTC container freight swap contracts (CFSAs) based on the Shanghai Shipping Exchange index on June 28. The contracts will be based on the most liquid routes out of Shanghai to the Mediterranean, North West Europe, the US East Coast and the US West Coast.
RTS Settlement Chamber will be connected to the system of bank electronic urgent payments (BEUP), starting July 1, giving clients increased speed of settlements with counterparties.
Chi-Tech’s connectivity network MarketPrizm is now available in the US. MarketPrizm offers managed connectivity to European trading venues.
Cohen & Steers: the Quality Income Realty and Infrastructure Funds received a demand letter from a shareholder alleging that the Funds breached their duties related to the redemption of the Funds' auction preferred shares.
FIG chose not to pay a dividend in 2Q10. The Board elected to retain capital for potential future investment opportunities and for working capital purposes.
US Senate Agriculture Committee Chairman Blanche Lincoln (D-Ark) was told by Democratic leaders to “water down” measures on OTC derivatives at a meeting at House speaker Nancy Pelosi’s office.
The Federation of European Securities Exchanges (FESE) reappointed Spyros Capralos as President for a one year mandate and appointed Michael Buhl as Vice President. Mr. Buhl is currently CEO of the CEE Stock Exchange.
Provided By: Equity Research Desk, www.erdesk.com