EXCHANGE NEWSWIRE, 12 July 2011
NDAQ appointed Michel Finzi as Senior VP and Head of US Equities of Transaction Services, starting this summer. Finzi most recently worked at ConvergEx RealTick where he was Managing Director and Global Head of Business Development as well as a member of the senior management team.
DB1: Eurex appointed Peter Reitz as the new head of the European Energy Exchange (EEX) starting August 1. Reitz, who spearheaded Eurex’s move into carbon trading four years ago, will replace Hans-Bernd Menzel, and Reitz will also retain his position as executive board member of Eurex.
NYX experienced another bout of technical problems Tuesday morning, resulting in the CAC40, AEX, BEL20 and PSI20 indices to be halted for 3.5 hours, after which trading went back to normal. Trading of individual stocks as well as Euronext Liffe derivatives were not affected by the glitch.
TMX launched TMX Select, and orders placed on the ATS are matched in strict price-time priority sequence with no broker-preferencing. Both sides of a trade are charged C$0.0002/share for stocks priced C$1 and above, and C$0.0001/share for stocks priced below C$1. Among the eight symbols already trading on TMX Select are Brookfield Asset Management, Bombardier, and Dollarama. Manulife Financial, Potash Corp, Research in Motion and Royal Bank of Canada will be enabled for trading starting next Monday.
BSE plans to launch a scheme next week to incentivize stock brokers to increase volumes on its derivatives segment. BSE will also spend INR 108 crore over the next six months for the liquidity enhancement plan. A senior official said that “we will give money to brokers who come on the BSE’s derivatives platform to trade” so as to “increase our derivatives volume, which is less than 1% in overall business”.
Cleartrade Exchange gained regulatory approval from Swiss regulator FINMA to operate as a Foreign Exchange in Switzerland, allowing Swiss-based securities dealers to trade on its platform.
MF Global Singapore signed an agreement with Korean financial infrastructure provide Koscom to offer trading in overseas futures to South Korean institutional investors. Koscom will connect its front-end trading platforms to MF Global’s back-end solutions to provide execution and clearing services into exchanges around the world.
Provided By: Equity Research Desk, www.erdesk.com
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