EXCHANGE NEWSWIRE, 14 July 2011
DB1-NYX merger received more than 60% of DB1 shareholder votes as of Wednesday afternoon, a 34.5% increase from the percentage recorded on Tuesday. Analysts interviewed by Reuters expect the 75% threshold to be reached as most institutional investors tend to tender their shares within the last few hours before an offer ends.
DB1 will carry on with its infrastructure upgrading plans to move both Xetra’s and Eurex’s matching engines for trading to a single hub run by Equinix, even as the exchange group could face a technology overhaul should the merger with NYX succeed. DB1 also set a November 7 deadline for the release of a software upgrade.
NDAQ is more focused on its LCH.Clearnet bid than a move on LSE, according to Jefferies analyst Daniel Fannon. Fannon concluded after meeting with NDAQ CEO Robert Greifeld that NDAQ was “centered around accretive capital deployment and cash flow generation as opposed to near-term M&A opportunities”, and that “management highlighted LCH.Clearnet as the only near-term M&A opportunity it was focused on”.
NDAQ was investigated by Swedish regulators in a competition probe due to a complaint from a small local rival Burgundy. Court documents said that the competition authority, “KKV wishes to investigate whether OMX has applied pressure on Verizon or threatened to punish Verizon if Verizon concludes an agreement with a competitor to OMX”, and that “according to the KKV, OMX and Verizon’s actions mean that Burgundy risks being shut out of the market in bourse trade with Nordic securities”.
TMX is in talks with Maple Group, according to Ontario Finance Minister Dwight Duncan, but he did not know the nature of the talks or whether any progress has been made.
BM&FBovespa will reduce trading fees for some of its stock products for retail investors and some derivatives contracts, as the current fee distribution “creates a false impression of high prices, since the trading fees diverge significantly from international norms”. The new pricing policy will take place on July 26 for spot market products, and October 31 for most derivatives products.
TMX: Natural Gas Exchange (NGX) launched physical clearing at two new hubs in the US market, including the Oneok Gas Transportation (OGT) in Oklahoma and the Tennessee Gas Pipeline’s Zone Zero North hub (TGP-Z0 North). This brings the total number of NGX clearing locations to 37.
MICEX launched the MICEX INNOV index of the Market for Innovations and Investments, which include shares in seven companies including ARMADA, DIOD Company, Don Radio Components Factory, Human Stem Cell Institute, O2TV, Russian Navigation Technologies and Pharm-Sinez. At least 10% of each component’s shares are required to be freely traded in the organized market.
LCH.Clearnet appointed Tom Zschach as the new Chief Information Officer (CIO). Zschach has more than 21 years of technology experience in the investment banking sector and most recently worked at Bank of America Merrill Lynch as managing director of co-head of global rates and currencies technology infrastructure.
ICAP intends to continue with the expansion of new electronic trading platforms, as the broker has seen further growth in the use of the platforms it invested in for trading of swaps, derivatives and fixed income products.
Brazil’s government is considering introducing an IOF tax on foreigners’ purchases of local currency futures contracts in order to contain the BRL’s appreciation. The IOF tax will only be introduced in the local derivatives market after studying the impact of the central bank’s decision to raise reserve requirements on short dollar positions, according to a government official interviewed by Bloomberg.
Provided By: Equity Research Desk, www.erdesk.com
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