EXCHANGE NEWSWIRE, 19 April 2011
NDAQ and ICE presented their proposed merger agreement to NYX’s board of directors, and are prepared to pay a reverse termination fee of USD350m should they not be able to obtain antitrust and competition approvals. NDAQ and ICE have fully committed financing of $3.8b from leading institutions, and US antitrust review processes are expected to begin shortly.
LSE-TMX deal is likely to gain Ontario legislative approval this afternoon, on conditions such as protection of Canada’s interests in the event of subsequent exchange consolidation after the deal, and increased weighting for Canada on the new entity’s board of directors.
Chi-X Europe: Spanish securities trades will now enter the settlement system directly through Chi-X’s CCP, European Multilateral Clearing Facility (EMCF), instead of being “put through” BME via a local broker. The change comes after the modification of regulations at Iberclear, and will result in post-trade costs being significantly reduced.
NDAQ launched Alpha Index Options which offer clients a way to trade company performance in spite of overall market swings.
SGX reported 3Q FY2011 EPS of SGD 0.063 (-10.2% y/y), on revenues of SGD168.8m (+10.1% y/y) and expenses of SGD75.0m (+17.9% y/y). The large increase in expenses was mostly due to increases in technology costs related to the Reach initiative and the OTC Financial Derivatives investments. Net of SGD67m (-10.2% y/y) also included ASX-SGX merger transaction costs of SGD12m.
Bursa Malaysia reported 1Q 2011 net profit of RM40.5m (+44% y/y) on operating revenues of RM107.8m (+33% y/y) and expenses of RM57.8m (+19% y/y). The increase in revenue was due mainly to stronger securities and derivatives trading, which brought in RM 57.7m (+46% y/y) and RM13.0m (+53% y/y) respectively.
Alpha ATS plans to apply for exchange status is being published for comment by the Ontario Securities Commission, and Alpha said it is entering the listings business to increase competition and reduce costs. Its application has been
SSE selected Markit to provide as the first Approved Trade Data Monitor (TDM) to provide OTC trade reporting services. SSE’s remote members are now able to report their OTC trades in Swiss securities for trading on SSE via Markit BOAT, and can fulfill their reporting requirements via SSE or Markit.
National Commodity & Derivatives Exchange (NCDEX) of India will launch more investor-friendly contracts in non-agricultural segments; as well align services with global standards this year, in an effort to improve its falling volumes.
ROFEX selected IPLAN to will install EMC equipment to process and store data, in an effort to triple its back office capabilities.
CFTC Commissioner Bart Chilton objected to US Republicans’ proposal to delay derivatives market rulemaking for 18 months, and Chilton said that “regulatory reforms are important to implement correctly, but they are also time-sensitive.”
European Parliament’s vote on short-selling regulations is delayed till June 2011 at the earliest from its originally scheduled date of April 5. The postponement is to allow the Parliament and the Council to reach a consensus on short-selling before making a vote, allowing the common proposal to be passed immediately into legislation.
Provided By: Equity Research Desk, www.erdesk.com
*****
Don’t miss our special Silver options expiration series STARTING HERE, with a special focus on the much-discussed May 40 call.
To view our exchange 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.