EXCHANGE NEWSWIRE, 07 December 2010
CME will start trading three new E-micro Forex futures contracts on December 20. The new contracts include the CAD/USD, the CHF/USD, and the JPY/USD and they will be quoted in IMM (American) terms subject to CME’s rules and regulations.
EEX detailed its plans to improve its gas trading volumes, with trading hours to be extended on both gas spot and derivatives markets, and a gas price index to be introduced at end-January 2011. EEX will also open its spot market to the Dutch TTF market area from March 2011, pending approval.
HKEx announced three initiatives to improve its market data services, including greater public access to real-time market prices, quicker release of derivatives data, and a more user-friendly licensing system for information vendors. Fees for these new services are subject to regulatory approval.
KRX will extend trading hours in the pre-hour session of its KOSPI and KOSDAQ cash markets and the off-hours basket trade on the KOSPI market by 30 minutes. The extension will begin on May 30, 2011.
Shanghai’s financial service office’s director general said that a new international board which will simplify listing for international companies will be launched “sometime next year”, a key step in making the city of Shanghai an international financial center.
Shanghai Stock Exchange (SSE) and the China Securities Index Company (CSI)’s index data will now be offered by RIMES Technologies, the first data integrator to provide this data.
BATS granted certification to Atrium to access its BATS Global Markets, and Atrium’s customers can now trade on and access both the BYX Exchange and BATS Options Exchange.
TORA opened a new office in Sydney in an effort to expand in Asia-Pacific. The Australia-based office will be headed by Nathan Eason, who was appointed Vice President of sales in Australia and previously worked at SimCorp.
PLUS Markets experienced a technical glitch after the launch of its new platform, which was developed in-house and meant to transform PLUS into a fully-fledged derivatives and stock exchange.
Charles Schwab introduced a new issue municipal bond calendar that allows clients to review, research and order new municipal bonds online from underwriter JP Morgan.
ICAP: IPGL through its wholly owned subsidiary, INCAP Finance, sold 6m ICAP shares at GBp512 in an institutional placement. ICAP CEO Michael Spencer holds a majority stake in IPGL. The proceedings will be used to pay down a loan with HSBC, according to IPGL.
LSE was downgraded to "Underperform" from "Market Perform" at Keefe, Bruyette & Woods. Target price was kept at GBp666.
Tullett Prebon was initiated with a "Market Perform" rating at Keefe, Bruyette & Woods. Target price was set at GBp400.
ICAP was initiated with an "Outperform" rating at Keefe, Bruyette & Woods. Target price was set at GBp610.
Ashmore was initiated with an "Outperform" rating at Keefe, Bruyette & Woods. Target price was set at GBp420.
FSA proposed that derivatives controls for asset-management companies should be improved, as “incomplete monitoring and fractured reporting of risks results makes it difficult for the firm to see a complete picture of its risks in a timely manner”.
The EU’s investigation into the sovereign CDS market did not find “evidence of any obvious mispricing”, and also did not find any “conclusive evidence” that trading activity pushed up funding costs for members in the EU.
US regulators are pressuring for tough definitions of proprietary trading activities that would be banned under the Dodd-Frank reform law. The Financial Stability Oversight Council has until January 22, 2011 to prepare the report on the implementation of the Volcker rule.
Provided By: Equity Research Desk, www.erdesk.com
To view our metals reports and articles on your PDA or mobile device, click here.
-----
About FMX: FMX Connect is an information, data, and analytics portal for Commodities. The portal provides an all-in-one package including essential market data, independent third party research, industry news, and commodity trading tools. FMX Connect provides efficient, effective, and thorough data that bridges all aspects of commodities onto one screen. The Result; A user friendly application for hedge fund traders, OTC brokers, individual investors, and industry participants.
-----
Note: The information presented, while from sources generally believed to be reliable, is not guaranteed and may not be complete. FMX | Connect makes no representations or warranties regarding the correctness of any opinions or information. Past results are not necessarily indicative of future results. Nothing in this report should be construed as a representation to buy or sell shares, futures or options, which contain considerable risks. For internal client distribution only. Any reproduction, re-transmission, or distribution of this report without permission is prohibited. Media correspondents or reporters may not quote any one page or section in its entirety and must attribute all quotes, ideas or concepts herein. Copyright FMX | Connect, ©2009-2010. All rights reserved.