EXCHANGE NEWSWIRE, 16 May 2011
NDAQ and ICE withdrew their offer for NYX after a discussion with the US DOJ made it “clear that we would not be successful in securing regulatory approval for our proposal despite offering a variety of substantial remedies”, according to NDAQ CEO Greifeld. The DOJ said that the acquisition would have substantially eliminated competition for corporate stock listing services, opening and closing stock auction services, off-exchange stock trade reporting services and real-time proprietary equity data products. (See statement from the DOJ here: http://www.justice.gov/opa/pr/2011/May/11-at-622.html )
TMX: Maple Group Acquisition Corp., a group of four banks including Toronto-Dominion Bank and five Canadian pension funds, made an unsolicited C$3.6b bid to buy TMX, in a challenge against LSE’s proposal. Ontario Finance Minister Dwight said he welcomed the proposal from Maple Group in an interview with Bloomberg.
LSE signed a deal with Pension Insurance Corp to shift some of its pension liabilities to the insurer. The GBP158m buy-in deal will allow LSE to insurance against any investment, inflation or mortality risks associated with these benefits against all future payments to scheme members who were pensioners as on March 31, 2011.
CME announced OTC FX clearing services through CME’s ClearPort, starting with USD/CLP non-deliverable forwards (NDFs), and then expanding into “a wide range of FX products later this year”.
BVMF3 will launch a new trading platform in August, as part of BVMF3’s expansion into technology ventures. BVMF3 is also constructing a new Sao Paulo-based data centre that can house the tools of HFT, brokers and telecom companies, while exploring new linkages with markets in Mexico, Bolivia and Colombia.
Chi-X Europe made its first annual profit since launching in 2007 of GBP800k on revenues of more than GBP42m for FY 2010, according to BATS’ filing with US regulators last Friday. The Financial Times expects this disclosure to re-ignite industry debate over the extent that MTFs are viable businesses in the long-term.
SGX: all SICOM rubber contracts have migrated successfully to SGX’s derivatives platform as of May 16.
FXCM reported adjusted pro forma 1Q 2011 diluted EPS of $0.18 (-7% y/y) on revenues of $94.7m (+23% y/y), and expenses of $69.1m (+33% y/y). The increased expenses was due to referring broker fees of $21.6m (+38% y/y), compensation and benefits of $20.1m (+19% y/y) and other expenses of $27.4m (+42% y/y). FXCM’s 1Q 2011 rate per million traded was 95 (-5% q/q).
GCAP reported 1Q 2011 diluted EPS of $0.04 (-98% y/y) on total revenues of $40.4m (-4% y/y) and expenses of $38.2m (vs. negative expenses of $27.7m in 1Q 2010 as a result of a positive change in FV convertible, redeemable preferred stock embedded derivatives of $59.5m in 1Q 2010).
S&P will change its pricing policy in Europe on international securities identification numbers (ISNs) after European Commission’s antitrust watchdog alleged that S&P overcharged the use of these numbers by banks of information service providers, and was abusing its monopoly position to demand license fees for use of ISNs.
European Commission’s competition commissioner Joaquin Almunia said that the EC will investigate if data providers are engaged in abusive behavior by “attempting to leverage privileged access to information”, and Almunia aims to “discuss the legitimate scope of intellectual property rights claims on such data”.
Provided By: Equity Research Desk, www.erdesk.com
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