stock_122 EXCHANGE NEWSWIRE, 6 April 2011

NYX said it is “absolutely not” considering a counterbid for NASDAQ OMX, according to a Reuters report, which cited a source saying that an NYX-NASDAQ OMX merger would be strategically unattractive and has “insurmountable antitrust problems”.

SGX may risk becoming a takeover target by potential acquirers such as CME should its proposed merger with ASX be rejected by Australia, according to a Bloomberg report. There is speculation that CEO Magnus Bocker may put SGX up for sale to recoup shareholders’ losses after causing them to lose $1.5m.

ASX-SGX deal: SGX has also stated that it will not withdraw its bid for ASX until it receives a final decision from the Australian government, which defended its preliminary decision to block to merger, and rejected criticism that it would hurt the nation’s standing with foreign investors. Treasurer Wayne Swan said he welcomes “foreign investment but ultimately all foreign investment proposals have to be in the national interest”.

Canadian Derivatives Clearing Corporation (CDCC) partnered with NYPC to create a link for the Canadian swap market, which would “foster the development of an effective clearing solution designed to reduce systemic risk and provide Canadian swap market participants and their trading partners with an optimized solution for clearing”.

CME: NYMEX may tighten specifications on the WTI oil contract after refiners said that the current rules fail to eliminate variability that may cut product yields. CME supports a proposal by the Crude Oil Quality Association to supervise and control the makeup of the WTI contract through additional standards, and hopes that a quality assurance program will begin in 2H 2011.

WSE will launch the WIG Ukraine Index in April to track the performance Ukrainian firms listed on WSE. The underlying companies will need to have at least 10% of their shareholders’ equity in free float and belong to one of the segments including 250PLUS, 50PLUS or 5PLUS, and the index will be revised on a quarterly basis.

Multi Commodity Exchange (MCX) filed its Draft Red Herring Prospectus (DRHP) with SEBI regarding an IPO of 6,427,378 shares worth INR10 each, through an offer for sale by Financial Technologies. The offer makes up 12.6% of the paid-up equity share capital of MCX, and will be held through a 100% book-building process.

Qatar Exchange bought Scila Surveillance, the multi-purpose market monitoring system, from Cinnober. The surveillance system will be integrated with some of Qatar Exchange’s existing systems, including the Universal Trading Platform, Equator post-trade system, PFI2 index calculation, data dissemination and referential management applications, and is scheduled to be launched in Q3 2011.

DGCX saw March volumes of 228,777 contracts (+41% y/y, +36% m/m) worth a total of $11.25b. DGCX gold futures reached 49,011 contracts (+51% y/y, +57% m/m) and the total number of silver futures traded was 4,370 contracts (+84% y/y, +102% m/m).

CFTC will introduce a margin requirements proposal on April 12, and the regulator could introduce a definition for the types of swaps that will be required to clear and trade later in April.

SEC outlined plans to replace circuit breakers with a “limit up-limit down” mechanism for reducing market volatility. The “limit up-limit down” approach would mean that trades in listed stocks would have to be executed within a range tied to recent prices for that security, and a five-minute trading pause will be incorporated to accommodate more fundamental price moves.

 

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

 

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