EXCHANGE NEWSWIRE, 25 October 2010
SGX announced an AUD8.4b offer to buy ASX shares at AUD48 per share, a 37.3% premium of the last traded price on October 22. The transaction will be financed through a bridge facility secured by SGX, and top officials in both bourses said that the bid is expected to receive regulatory approval.
Europe: regulators are considering shortening securities settlement times to reduce systematic risks in even of any financial failure.
DB1 and Oslo Bors: Clearstream was chosen to provide integrated margin exposure collateral management services to Oslo Clearing.
CME started trading 2-, 5- and 10-year on-the-run Treasury futures contracts.
NASDAQ OMX launched Genium INET, the fastest trading system in the world with sub-100 microseconds average latency, in its Nordic cash and fixed income derivatives markets.
TSE selected Calypso Technology’s software to provide the platform for its new CDS clearing service provided by Japan Securities Clearing Corporation (JSCC).
Nasdaq Dubai indicated that “a lot of companies” are considering listing on the exchange, which is currently in talks with the United Arab Emirates’ central bank on trading in the dirham.
Dubai Gold and Commodities Exchange (DGCX) saw a record volume of contracts traded in INR, CND, and AUD futures on October 19, with total volume that day reaching 15,350 contracts worth USD786m.
ITG acquired Majestic Research for $53m in cash and $3m in converted employee equity awards. Majestic will be renamed as ITG Investment Research.
LCH.Clearnet selected Citi’s Global Transaction Services to provide settlement agent bank services for Chi-East, the JV between Chi-X Global and SGX.
LMAX launched a Betfair-established online platform for retail trading in contracts for difference (CFD) and FX. The LMAX platform uses Scila Surveillance and is the first CFD multi-asset trading venue with central clearing that does not take positions against its customers.
SGX was downgraded to "Neutral" from "Overweight" at JPMorgan. Target price was lowered to SGD7.40 from SGD9.70.
CFTC aims to find middle ground in setting swap rules as money managers want to protect their swaps’ collateral in times of financial crisis and clearing houses and their members are worried that new regulations will hike costs.
UK: there are plans to abolish the FSA by 2012 and replace it with the Consumer Protection and Markets Authority (CPMA). According to LSE, the UK Listing Authority should be part of the CPMA to prevent fragmentation of market supervision.
China: SunGard was chosen to provide DMA for index futures trading in China, and QFII-status firms will be able to send orders using the FIX Protocol through the SunGard Global Network to Chinese futures brokers.
Provided By: Equity Research Desk, www.erdesk.com