EXCHANGE NEWSWIRE, 15 April 2011
BMV reported 1Q11 EPS of P$0.25, on revenues of P$501m and expenses of P$304m. Net income of P$149.2m also included P$1.8m in profit from associated companies and a loss of P$12.5m from minority interest.
NYX shareholders who feel that the NYX board did not take the higher offer seriously enough are expecting the DB1-NYX offer to challenge the NDAQ deal’s proposed higher costs synergies, and may urge the company to consider NDAQ’s and ICE’s rival offer. A meeting to vote on the DB1 merger will be held in early June.
NYX is cautioning its investors not to push too hard for better merger terms from DB1, which needs at least 75% of NYX shareholder approval for the deal to go through. DB1 investors are reluctant to give ground on governance, and some are “upset with how much they’re giving up” in the proposed deal with NYX.
NDAQ appointed Lee Shavel, currently a Bank of America Merrill Lynch investment banker, as its CFO as well as executive VP of corporate strategy effective May 23. Shavel will former CFO David Warren, who will take on the role of special advisor to CEO Bob Greifeld.
LSE: Turquoise Derivatives is now connected to Orc Software, and uses Orc’s fully managed trading infrastructure Orc Hosted in addition to the Orc-covered SOLA platform.
Direct Edge appointed Anthony Barchetto as strategy head, replacing Bryan Harkins who was appointed COO in Jan 2011. Barchetto previously worked for Liquidnet, Citigroup’s Lava Trading, Puglisi Capital Partners and Knight Capital Group.
Equinix is considering an expansion into new markets such as Spain, India and Korea, according to a DatacenterDynamics article, which also quoted Equinix general manager for global networks and mobility James Poole saying that “we have long-range plans” for Africa and the Middle East as “at this moment there are probably a lot of larger markets that will make us pull the trigger much faster”.
SCHW reported 1Q11 EPS of $0.20 on net income of $243m and net revenues of $1,207m (+21% y/y). Net interest margins were 196bps (+7% y/y); asset management and administration fees increased were $502m (+20% y/y) with total assets on mutual fund marketplace were $570b (+5% q/q); and money market fee waivers were $112m (+10% q/q).
FXCM reported March total retail customer trading volume of $314b (+28% y/y) and DARTs of 324.4K (+13.2% y/y). Active accounts for the last 12 month were 139.9k (+14.5% y/y).
GCAP completed the transfer of TradeStation FOREX client accounts and assets on April 8. Client assets totaled $31.7m and represented 6.6% of GCAP total retail trading volume for 2010.
ISDA annual general meeting (AGM) discussed how quickly block trades should be reported, and co-ordination of disclosure rules around jurisdictions. One of the comments made at the AGM was that CFTC’s proposal for trades to be reported no less than 15 minutes after the completion of transaction could move against the firms trying to hedge their risk.
International Organization of Securities Commission (IOSCO) stated in an e-mail that global securities regulators will seek extra regulation for agricultural and other commodities markets, and this “expanded focus” is “likely to lead to proposals to improve market transparency, oversight and anti market-abuse treatment”.
CFTC may require margin changes in futures markets which could result in brokers losing billions of dollars in interest income. The CFTC rule does not allow clearinghouses to “net positions of different customers against one another”, and states that “gross margining of customer accounts would more appropriately address the risks” posed to a clearinghouse by its clearing members’ customers.
CFTC Chairman Gary Gensler said that the Dodd-Frank Act requires regulators to limit the number of firms which are designated as systematically important. Gensler said this as the Financial Stability Oversight Council is labeling the financial firms that may face more stringent oversight and capital requirements.
Provided By: Equity Research Desk, www.erdesk.com
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