EXCHANGE NEWSWIRE, 1 June 2011
NYX: NYSE Technologies introduced the first cloud platform in the financial industry, the Capital Markets Community Platform. The platform will offer a variety of cloud-based services enabling customers to easily purchase the computing power required at a given time, and is currently undergoing beta-testing with customers before going live on July 1.
DB1-NYX merger: NYX CEO Duncan Niederauer said that European regulators gave “very constructive” feedback regarding its merger with DB1. Niederauer also said in a Bloomberg interview that “the tone’s been very, very constructive, and we’re on track for decisions in 2011 for sure”.
ICE Futures US will launch 10 new FX futures contracts on June 6, with the underlying currency pairs including EUR-USD, EUR-CHF, EUR-AUD, AUR-GBP, EUR-CAD, and EUR-JPY, among others. ICE also expanded its Exchange Member Firm Fee program for the USD Index to include all its FX futures and options contracts, with a rate of $0.30 per side.
SGX will be the world’s first exchange clearing Asian FX non-deliverable forwards (NDFs) in September, in response to regulatory changes “on mandatory requirements for non-deliverable FX forwards and FX options via a Central Counter Party”. SGX also aims to launch client clearing service in early-2012.
LME expressed concern that LCH.Clearnet’s “viability as a clearing house” may be undermined by ICE and NYX’s Liffe’s decisions to build their own clearing houses. LME is considering splitting from LCH.Clearnet, which has been its clearing house for a long time. LME’s head of business development Chris Evans, commented that “preliminary discussions suggest that self clearing is achievable, and could give the market a more efficient service and will place decisions about the exchange’s independence more firmly in the hands of LME shareholders”.
DB1: Frankfurt Stock Exchange will start trading Frankfurt-listed shares an hour earlier from 8:00am CET starting June 1, with Xetra trading hours to stay the same. DB1 stated that “the opening of the most important market for German equities will considerably improve the liquidity in trading before 9:00am CET, which in turn may have a positive effect on price ranges”.
CME’s chairman emeritus Leo Melamed said that Ukraine’s move to set up a CME Globex-powered grain futures exchange within the next 12 months will help the country’s development and consolidation of Eastern European financial markets. Melamed also said that “Ukraine is interested in bringing as many Eastern European markets together as can be” and “they’re not ignoring consolidation”.
Provided By: Equity Research Desk, www.erdesk.com
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