EXCHANGE NEWSWIRE, 12 May 2011
DB1 urged its shareholders to support the merger with NYX by tendering their shares. Management said it was confident that its offer would succeed, and increased its revenue synergies estimates to €150m from €100m, which can be achieved through the expansion of its clearing service across the proposed group. Management also voiced its disagreement with the views of DB1’s work council, who asked shareholders to reject the NYX deal, which it believes threatens DB1’s business model.
NDAQ issued a statement that it “is working closely with the Department of Justice (DOJ) to provide all necessary materials they require” but has “received no assurances from the DOJ as to the timing of outcome of the review”. The statement also complimented DOJ “for its rapid “pace of evaluation”.
NDAQ: BX Venture Market received SEC approval. The BX Venture market is expected to launch later in 2011, and “is a new listing alternative that supports capital formation for early stage and smaller companies in a transparent and well-regulated environment”.
LCH.Clearnet and Swiss group X-Clear received FSA approval to partner, setting the path for interoperability between clearing houses in Europe by the end of 2Q 2011. The new arrangements also allow for other clearing houses to join the network once regulatory approval is given.
CME halted energy trading for the first time in two years after a plunge in gasoline futures on Wednesday.
LSE CEO Xavier Rolet stated at the Bellwether Europe conference that “the fiscal system makes debt attractive while clobbering equity as a financial tool – effectively encouraging the use of the wrong asset class to finance innovation”.
DGCX reported a record YTD volume traded of 1,005,841 contracts worth US$49.1b (+52% y/y) on May 11. The most traded contract, the INR/USD contract, recorded a YTD volume of 641,116 contracts (+1605% y/y), and gold and silver contracts saw YTD volume at 194,649 contracts (+22% y/y) and 21,296 contracts (+65% y/y) respectively.
HKEx and TWSE signed an MOU agreeing to share regulatory information as there is an increasing number of companies dually-listed on HKEx and TWSE.
HKEx added GF Futures and Nanhua Futures as broking members, allowing them to trading commodities contracts on the exchange’s platform.
GCAP received approval from the China Banking Regulatory Commission (CBRC) to open a representative office in Beijing, which will allow it to establish expand its presence in China.
ISDA selected DTCC to provide rate swap repository services and replace TriOptima, which ISDA had selected in 2009.
FIA President John Damgard commented that CFTC “Chairman Gary Gensler has created these silos within the agency”, which “are not in concert with each other”.
European Parliament (EP) confirmed that German MEP Markus Ferber was appointed as the rapporteur for the upcoming review of MiFID. Ferber joined the EP in 1994, and will be responsible for writing a report on the final MiFID II proposals made by European Commission.
Provided By: Equity Research Desk, www.erdesk.com
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