EXCHANGE NEWSWIRE, 13 August 2010

BM&FBOVESPA 2Q10 net income increased +62.5% Y/Y to R$305.7 mn and EPS reached R$0.15. Net revenues totaled R$473.6 mn  (+25% Y/Y), as Bovespa volumes increased +28% Y/Y and BM&F volumes increased +54% Y/Y. Operating expenses totaled R$145.4 mn (+13.4% Y/Y; +6.4% Q/Q). The board of directors approved a buyback program of 31 mn shares (1.55% of the free float).

CETIP reported a 2Q10 net income of R$29.6 mn (+6.5% Q/Q) on net revenues of R$65.2 mn (+4% Q/Q) and expenses of R$29.7 mn (+16% Q/Q).

CME: electronic trading hours for the yen-denominated Nikkei 225 futures will be expanded, starting September 12. Under the expanded hours, the contracts will begin trading on CME Globex Sundays at 17:00-15:15 the next day Chicago Time, with trading Monday–Friday from 15:30 p.m. -15:15 the next day.

Nasdaq OMX: Barclays Bank became the 17th member of N2EX; a U.K. power exchange.
Financial Technologies FY 1Q11 net income was INR452 mn (+120% Y/Y), ont revenues of INR942 mn (+45% Y/Y).
Knight’s July dollar ADV in US equities rose 13% Y/Y to $25.4 bn. Share ADV in listed shares decreased 16% Y/Y to 704 mn while ADV in Nasdaq shares declined 15% Y/Y to 326 mn. FX notional ADV on Hotspot FX increased 55% Y/Y to $33 bn.

Chi-X Europe will start trading international depository receipts on September 3. IDRs available for trading will include Gazprom, State Bank of India and Samsung Electronics.

MCX-SX: the Bombay high court directed SEBI to take a final decision by September 30 on MCX-SX’s application to launch new products.

Och-Ziff: court filings claim that the company helped spread “false rumors” that Lehman Brothers spun off debt to two Lehman-controlled hedge funds to trim the investment bank’s leverage.

BlackRock head of exchange-traded funds Noel Archard called on the SEC and CFTC to set less arbitrary and more transparent trade error cancellation rules and clearer guidelines for inter-market order routing rules, according to Securities Industry News. BlackRock also wants the SEC to establish uniform circuit breakers across both stocks and ETFs.

Vanguard: AXA Rosenberg will no longer manage the Vanguard Explorer, Vanguard US Value and Vanguard Market Neutral funds.

Charles Schwab July net new assets totaled $6.2 bn, up from $5.6 bn a year ago and client assets increased +4.4% M/M (+11% Y/Y) to $1,421 bn. Clients’ daily average trades remained flat M/M (+26% Y/Y) at 365k. Mutual fund net buys reached $2.0 bn and money market funds net sales totaled $1.0 bn.

Invesco was initiated with an "Outperform" rating at Credit Agricole. Target price was set at $24.

Janus was initiated with an "Underperform" rating at Credit Agricole. Target price was set at $11.

optionsXpress was initiated with an "Outperform" rating at Credit Agricole. Target price was set at $19.

SEBI issued Guidelines on arbitration processes at stock exchanges to “speed up the resolution of disputes”. Stock Exchanges will maintain a panel of arbitrators to decide on disputes among brokers and between a client and a broker.

Provided By: Equity Research Desk, www.erdesk.com