EXCHANGE NEWSWIRE, 20 July 2011
BMV reported 2Q 2011 EPS of P$0.267 (+3% y/y), on net income of P$158m (+4% y/y), revenues of P$513m (+12% y/y) and expenses of P$289m (+7% y/y). The increase in revenue was mainly due to a +15% y/y increase in INDEVAL services, a +16% y/y increase in information services, and a +16% y/y increase in maintenance services.
LSE reported 1Q FY11 revenues of GBP190.2m (+14% y/y). Capital markets revenue was GBP 79.7m (+4% y/y), total post-trade services revenue was GBP51.8m (+58% y/y), information services revenue was at GBP 44.7m (+6% y/y), and technology services revenue was at GBP 10.6m (-16% y/y). LSE also said it reduced its net debt for the quarter with cash of EUR32.4m received from the sale of Servizio Titoli and strong net cash generation. CEO Xavier Rolet also played down the prospects of tie-ups with other exchanges.
BATS will likely delay its US IPO until early-2012, after its takeover of Chi-X Europe is finished in order to attract more investors, according to sources interviewed by Reuters. The deal is under an unexpected British antitrust review by the Competition Commission which is expected to report on the review by December 2. BATS also said that it would retract a contentious new stock-options trading strategy after customers highlighted concerns that the plan could create “potential risks”.
BVMF3 will start offering unsponsored depository receipts next week in Nike, Coca-Cola, Chevron and seven other large US firms, with Itaú-Unibanco as the depository bank. Equity products managing director of BVMF3 Julio Ziegelmann commented that “this gives Brazilians a good way to diversify their investments and gives them access to top-notch global companies here in Brazil”.
LCH.Clearnet expects an increase in US IR swaps clients in 4Q11 as US regulators get closer to finalizing swaps regulations, according to US sales head Floyd Converse, who said that “September to December we will see a ramp up” in clients.
CME will launch a coking coal swap futures contract on July 25 in a bid to tap on the increased interest in steep derivatives. Director of CME client development and sales James Oliver said “this set of contracts is our way to help the steel industry manage risk”, and will be settled against Platts indexes and be listed on NYMEX and cleared through CME ClearPort.
Bursa reported 1H 2011 net income of RM 76.2m (+37% y/y) on operating revenues of RM 200.3m (+27% y/y), other income of RM 16.9m (+15% y/y). Securities trading revenue was RM 103.8m (+36% y/y), derivatives trading revenue was RM 25.3m (+45% y/y), and stable revenue was RM 56.6m (+8% y/y). Total expenses were RM 109.4m (+16% y/y), due to an increase in staff costs, which will remain significant going forward, and technology charges due to Globex service fees payable to CME.
Citadel wrote a letter to E*Trade’s CEO and interim chairman saying that E*Trade “squandered” a “phenomenal franchise”. In the letter, Citadel pushed E*Trade for a “sale of the company” which “could be achieved promptly and generate significant shareholder value, avoiding the risks of operating as an independent company lacking leadership and financial capabilities”.
Provided By: Equity Research Desk, www.erdesk.com
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