EXCHANGE NEWSWIRE, 25 May 2011
NYX and DB1 may still approve the special payout to shareholders before the July deadline for owners of both companies to vote on the merger, despite the fact that the rival NDAQ-ICE counterbid has been eliminated. Sandler O’Neill analyst Richard Repetto also said that the higher counterbid by ICE and NDAQ made DB1 and NYX “take a long hard look at how they were interacting with shareholders and what the shareholders were signaling to them.”
NYX Liffe added Singapore-based futures broker UOB Bullion and Futures (UOBFF) as its latest member on its London and Paris markets.
HKMEx selected Equinix’s International Business Exchange (IBX) data center for it to host its production core systems after receiving approval from Hong Kong’s Securities and Futures Commission to provide ATS services.
Shanghai Futures Exchange (SFE) expects to launch silver futures by end-2011. SFE also hopes to speed up efforts to introduce crude oil futures in China as developing crude oil futures has a bearing on national energy security and economic security.
RTS Realtime Systems entered into exclusive negotiations to acquire First Futures Software Engineering, the company’s first acquisition of another firm since its launch in 1992. Deal terms were not disclosed.
E*TRADE priced its $435m principal amount senior notes at par due in 2016, which will bear an annual interest of 6.75%. Proceeds from the offering will be used to redeem its total outstanding 7.375% Senior Notes worth $414.7m aggregate principal amount due in 2013.
CFTC charged trading house Parnon Energy and two individuals for oil price manipulation in 2008, during which they created an impression of an oil shortage by amassing dominant physical market positions.
International Swaps and Derivatives Association (ISDA) warned policy makers to be careful not to let derivatives clearinghouses be the next “too big to fail” beneficiaries of federal bailouts.
Economic and Monetary Affairs Committee (ECON) voted on EMIR regulations which may allow trading venues to license derivatives from existing markets more easily. A new clause in EMIR states that “to products or services which have become or impact upon industry standards there shall be a requirement for licenses to be available on proportionate, fair, reasonable and non-discriminatory terms”.
European Union parliaments expressed support for stricter derivatives regulation but also restricted the new rules to ensure that deals are cleared centrally to those contracts traded on a bilateral OTC basis.
SEC is expected to approve the rule supporting cash rewards for whistleblowers, who can earn up to 10-30% of collected fines if their tips lead to enforcement of actions.
Provided By: Equity Research Desk, www.erdesk.com
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