EXCHANGE NEWSWIRE, 16 June 2011
CME Executive Chairman Terry Duffy said the exchange has met with several lieutenant governors and government officials from other states as it considers moving its headquarters out of Illinois, though talks are still “very preliminary in nature”. Duffy also stated that “many other states have publicly demonstrated that they’re very business friendly”, but did not name any in particular.
NYX extended its contract with LCH.Clearnet till 2013 for its European stock and derivatives products. NYX CEO Duncan Niederauer said that “in the current dynamic environment, where we are finalizing our planned business combination with DB1 and LCH.Clearnet is considering its own strategic options, this extension gives both parties the time needed for these strategies to crystallize”.
NDAQ and TMX will mutually allow data from one another’s exchange quotation and trading data accessible to customers who place their servers near each venue’s main computers. NDAQ’s senior VP of global data products Brian Hyndman said that “this agreement allows domestically-based customers access to a broader and richer data set without the high cost of developing direct connections.”
TMX shareholders are still mostly undecided in whether to choose LSE’s or Maple Group’s bid for TMX, according to the Financial Times. Shareholders are due to vote on the LSE bid on June 30, with two-thirds of the majority required for approval. TMX CEO Thomas Kloet assured Canadians that Montreal Exchange (MX) would not be weakened by the merger but that its influence and volumes would probably grow as the derivatives headquarters of a strong international competitor.
ICE Trust and ICE Clear Europe have cleared a gross notional volume of $6b in swaps between dealer banks since introducing a faster system in April which reduced clearing times to just minutes from as long as a week. Global head of ICE Link Clive de Ruig commented that “the reason why the banks are adopting this is because they want to reduce their operational risk and costs” and that “the dealer-to-dealer model is catching up with the client-to-dealer trade service”.
Six Swiss Exchange extended its contract with NDAQ and will upgrade its current SWXess equities trading platform with NDAQ’s X-stream INET technology in 1Q 2012.
Liquidnet appointed James Chatfield to support sales in Australia and New Zealand, and Angela Leong to lead sales efforts in Singapore. Chatfield was previously from Lazard Asset Management Pacific where he was responsible for trading equities in the Australian and Indian markets. Leong joins from Bloomberg Tradebook where she provided DMA and algorithmic solutions to investment funds and private banks.
SEC proposed to tighten broker-dealer audits by requiring an increased focus on broker-dealers’ custody activities. This move is to “protect investors and help maintain confidence in the market”. The proposal also calls for allowing SEC staff and the relevant designated examining authority to review work papers of the public accounting firms which audit the broker-dealers, and discuss any findings with the firms.
Provided By: Equity Research Desk, www.erdesk.com
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