EXCHANGE NEWSWIRE, 1 July 2011
NDAQ is considering an approach to LSE, according to a source interviewed by the WSJ, but there may be some factors against the deal. Sources said that the price LSE would demand for a friendly deal would likely be well above its current share price and that after failing at the proposed NYX merger, NDAQ CEO Robert Greifeld is being cautious about other deals.
TMX: Maple Group may face hurdles in gaining antitrust approval for its bid. CEO of Omega ATS, Mike Bignell, said “we see competition diminishing as these operations are amalgamated” and “it could cost more to settle trades at the end of the day”. Research director at ITG Canada Doug Clark also said that Alpha, which was mainly owned by the banks backing Maple Group, as a “maverick disrupter” which has been a prime driver in forcing TMX to lower trading fees.
CME appointed Julien Le Noble, previous head of Newedge’s Japan operations, to head its Singapore-based Asia Pacific office starting August 1. CME COO Bryan Durkin said that “CME Group volumes during Asia Pacific business hours increased more than 25% in the first quarter, representing a growing demand for globally relevant derivatives products and services in this region”.
NYX spent $520K (+8% y/y, +37% m/m) in 1Q 2011 to gain support from Congress, SEC and CFTC for its merger with DB1. NYX also lobbied the federal government on legislation involving small businesses, consumer protection and derivatives, according to the report filed on April 20.
RTS Stock Exchange and Saint Petersburg Exchange (OSJC) jointly extended the range of futures on agricultural products and fuel. From June 30, trading on futures based on corn and soybeans will be launched, and from July 5, trading of futures on gasoil and cotton will be introduced. All contracts are cash-settled and will be quoted in rubles.
The Order Machine (TOM) was given approval by the Netherlands Authority for the Financial Markets to launch a new derivatives platform. This will allows the Dutch venue to trade in a limited number of single stock Dutch equity options, in competition with NYX’s Liffe. Trades will be cleared by Amsterdam-based Holland Clearing House.
ROFEX set a new monthly agricultural futures record of 34,191 contracts worth 1.026k tons in June.
CFTC will hold its next meeting on July 7, during which it will consider five final rules which include the definition of an agricultural commodity, large trader reporting for physical swaps and anti-manipulation regulations. CFTC will also spend the rest of the year finalizing rules including position limits, definition of a swap as well as clearing requirements.
Provided By: Equity Research Desk, www.erdesk.com
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