EXCHANGE NEWSWIRE, 20 May 2011
NYX is working with Chinese authorities to launch Shanghai Stock Exchange’s international board, and is helping to develop the derivatives market in particular. NYX Chairman Jan-Michiel Hessels also said NYX would be “strongly interested” in listing on the board.
BMV: MexDer launched two new futures contracts, with underlying assets being the 5-year and 30-year Federal Government Development bonds (M5 and M30). Each M5 and M30 contract bears 1,000 bonds worth a notional value of MXN $100K, with maturity dates in March, June, September and December. The bonds will be negotiated through MexDer’s Electronic Trading System, and are also tradable with CME once the North-South order routing is initiated next August.
SIX x-Clear received final regulatory approval from FSA, FINMA and the Swiss National Bank to provide comprehensive clearing services, which effectively allows interoperability in Europe.
BATS Europe launched a “preferencing system”, a trade feed mechanism that routes trades to a customer’s chosen clearing house or CCP. BATS Europe will be the first exchange to take advantage of interoperability in Europe, after LCH.Clearnet and SIX x-Clear were given regulatory approval to partner.
BATS Global introduced its BATS Multicast Latency Feed which is designed to offer latency statistics and allows members to monitor matching engine unit level performance statistics, which includes order-to-quote latency. This feed will be available for BATS NZX and BYX Exchange members, and it is the first time a venue provides a direct latency feed to its members.
Liquidnet clinched a role in the $133m secondary share offering by Healthcare Realty Trust as the trading venue extends its reach into capital market transactions. Head of capital markets at Liquidnet Steve Greenblatt commented that “we’ve been matching large buyers with large sellers for a decade, without leaking to the marketplace or moving the market”.
Liquidnet appointed Nick Savona to assist its Canadian operations. Savona was previously Vice President of institutional equity trading at NCP Northland Capital Partners, and prior to that also worked at Evergreen Capital Partners, MGI Securities, TD Newcrest and ITG Canada.
Alpha Group delayed the launch of its uCross trading technology after Ontario Securities Commission inquired whether the ATS’ proposed IntraSpread facility is equivalent to establishing a new marketplace.
Plus Markets will launch a USD-denominated swap interest contract (SIC) in partnership with FTSE International, in its transition from being a niche UK microcap listings platform to a stock and derivatives exchange. The Plus SIC contract will be based on FTSE Medium Term Interest Rate Swaps index and cover futures at both the long and short ends of the IR yield curve.
TradingScreen received approval from BM&FBovespa to offer low latency multi-asset class DMA order flow through its platform in its Sao Paolo-based data centre. TradingScreen clients will now have access to Brazilian markets through TradingScreen’s multi-broker Trade Net network, as well as have full coverage of any BM&FBovespa-listed instrument.
ICAP CEO Michael Spencer ruled out the possibility of an acquisition or merger with LSE, as “there are relatively few synergies between what we’re about today and what they’re doing”.
ICAP exceeded a $300b level in electronically-traded US credit default swaps on its BrokerTec platform. Managing director for electronic credit trading Steven Cooper said “more and more people are accepting” that trading on screen without human interaction with a broker “is going to be part of their daily trading behavior”.
Provided By: Equity Research Desk, www.erdesk.com
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