EXCHANGE NEWSWIRE, 15 June 2011
TMX: Canadian securities regulators granted Maple Group relief from certain Securities Act provisions, allowing the group to proceed with a two-step offer to purchase 100% of TMX shares. Maple Group stated that the relief however, does not constitute approval of the deal for any regulatory purpose.
NYX Liffe chief Tom Callahan said the clearinghouse aims to capture a million contracts over the next six months and try to break CME’s domination of US IR futures trading. Callahan also said he “can’t think of another start-up exchange in its third month that has this level of open interest”, and that “we have massive momentum. We’ve got a huge pipeline of customers.”
LSE won the employment lawsuit which former Turquoise CEO Eli Lederman had filed against the UK firm, after the Employment Tribunal in London found that Lederman’s claims were not “well-founded”.
ICE Link launched the “Affirmed=Cleared (A=C)” interdealer workflow on its platform. This allows same-day clearing of credit default swaps (CDS) trades instead of being cleared on a weekly basis as in the previous case.
TMX Datalink expanded its ultra-low latency network TMXnet North America between Toronto, New York and Chicago. The network’s capacity has been increased to 10Gb and its return trip latency has been reduced to the 10 millisecond range.
CME introduced clearing services for four new fertilizer swap futures, which will be listed on CME ClearPort and the NYMEX trading floor. The new futures include the Urea (Granular) FOB NOLA swap future, the UAN FOB US Gulf Coast swap future, the DAP FOB Tampa swap future, and the DAP FOB NOLA swap future.
MILA: Rapid Addition’s FIX Order Routing technology, GRHubTM, was selected to support MILA’s regional integration project along Latin America’s Pacific Coast. GRHubTM will route market data, orders and executions between national and international brokers and platforms of Bolsa de Valores de Colombia (BVC), Bolsa de Valores de Lima (BVL) and Bolsa de Comercio de Santiago.
NYX: NYSE Technologies chose UNX Catalyst to provide financial services firms with desktop access to its capital markets community platform services. Catalyst’s Software Development Kit and APIs will also enable broker-dealers, third-party vendors and other institutional participants to develop applications for use in Catalyst.
FSA voiced worries that exchange-traded funds (ETFs) investors may not comprehend the risks involved. Over the last year, soaring commodity prices have caused a 40% increase in investments in ETFs and exchange-traded products (ETPs), some of which do not own any of the assets to which they appear to be linked, and rely on other companies to honor the ETF or ETP issuer’s commitments to pay investors.
CFTC voted in support of Chairman Gary Gensler’s decision to delay the rules which will automatically come in force in July and provide legal exemptions to derivatives transactions, until the rules are completed, latest by December 31.
Provided By: Equity Research Desk, www.erdesk.com
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