EXCHANGE NEWSWIRE, 20 October 2010
TOCOM and Tokyo Grain Exchange (TGE) are currently in merger discussions “to ensure a sustainable development of agricultural products in Japan”, according to TGE president Yoshiaki Watanabe.
Nasdaq OMX will launch a dark block trading service, “Nordic@Mid”, across its equities exchanges in Helsinki, Copenhagen, Reykjavik, and Stockholm on November 15. Minimum order size criteria will be imposed and there will be limit order support.
LSE confirmed that Turquoise is the world’s fastest trading platform with an average latency of 126 microseconds, and that 99.9% of orders are processed under 400 microseconds through its new MillenniumIT trading system.
BVMF3 suggested that the government keep foreign investors’ derivatives margin deposits abroad.
Shenzhen Stock Exchange’s US$33.6b of funds raised in listings from 246 IPOs YTD2010 surpassed Shanghai Stock Exchange’s US$24.1b of funds raised for the first time.
SGX hired Paulina McGroarty as head of the listings unit in Europe, Middle East and Russia in a strategy to expand its listing business in Europe and the surrounding regions. McGroarty was previously regional head of Corporate Access in Citigroup London.
Bursa Malaysia: 3Q10 diluted EPS was MYR 5.2 (-7% y/y), on revenues of MYR 79.3m (+0.3% y/y) and expenses of MYR 47.8m (+13% y/y).
Euroclear launched the Common Communications Interface (CCI), an important part of its communications infrastructure consolidation program, in Euroclear Bank.
Nomura hired Samir Patel to head its US execution sales and Chris Valli to run its US research sales in an effort to continue its expansion into US equities. Patel and Walli worked as in structured derivatives sales and Asia Ex-Japan research sales in Lehman Brothers respectively.
SEIC: 3Q10 EPS was $0.30 (+11% y/y), on net income of $56m (+7% y/y) and revenues of $220m (-20% y/y). SEI approved and additional $100m in its repurchase program.
SEC will consider NASDAQ OMX’s proposal to launch its Volatility Guard by January 2011, which would “halt trading of the exchange’s stocks if prices rapidly move too far”.
SEC Chairman Mary Schapiro commented that SEC is “resource constrained” and it will need to reallocate resources from other “equally deserving areas” to approve rules from the bank reform legislation.
CFTC may postpone the imposition of position limits on commodity swaps until after it collects sufficient market data, as commissioners like Jill Sommers have “grave concerns” that effecting the limits prematurely will cause more harm than good.
The European Union agreed on first-time disclosure and capital requirements for “alternative” fund managers across Europe. After an initial period, the new regime will allow fund managers to market their funds across EU instead of seeking market access approval from individual countries.
The European Commission announced plans for a new EU financial sector crisis management framework, which aims to prepare authorities with common and effectives tools to deal with bank crises as early as possible.
FSA won a market abuse case in which the Financial Services and Markets Tribunal deemed it appropriate for FSA to charge Andre Jean Scerri with a market abuse penalty of £66,062.50.
Brazil raised its fixed income investments IOF tax to 6% from 4%, and derivative margin deposits IOF tax to 6% from 0.38%, in an effort to curb the recent BRL rally.
Provided By: Equity Research Desk, www.erdesk.com