Stock QuotesEXCHANGE NEWSWIRE, 25 July 2011

NYX Liffe received approval from Brazil’s Securities and Exchange Commission (CVM) to offer direct electronic access to its London market, which includes its short term interest rate, bond, swapnote, equity and commodities futures and options. Alternatively Brazilian firms can continue to make use of non-direct (intermediated) access for the execution of their NYSE Liffe business.

LSE intensified lobbying efforts against the merger between NYX and DB1, claiming that the combined entity would “eliminate competition” in the European listed derivatives market and that the two companies would have a “track record of acting against customers’ best interests”. LSE also said that “any claims that cost-savings from the merger will be passed onto customers must be treated with skepticism.”

TMX’s talks with Maple Group may “have a better chance of passing competition reviews in Canada” if “they were to agree on something”, according to Macquarie Capital analyst Ed Ditmire.

OSE will re-launch the trading of DJIA futures after dropping them in 2005. OSE and CME will sign a deal on Tuesday and the DJIA futures are expected to be listed in early 2012. OSE hopes that its increased night trading hours, which were extended from 0730 GMT to 1800 GMT last week, will boost popularity of the DJIA futures.

BME experienced a delay in opening on Monday morning as a result of technical problems.

Nasdaq Dubai appointed Craig Hewett as head of business development. Hewett previously worked at Bahrain Financial Exchange (BFX) as Chief Business Officer from 2008. Prior to that he had worked for nine years for the LME, where he launched new futures contract as Deputy Commercial Director.

DGCX will launch the Indian Rupee Options contract on September 26, and the contract will be the only exchange-traded INR options product offered to markets outside of India. Each DGCX INR options contract represents INR 2m, and prices will be quoted in US cents per INR100, with a minimum premium fluctuation of USD0.000001 per INR ($2 per contract). At the launch, the October 2011 expiry month will be available to trade.

E*Trade hired Morgan Stanley to explore a sale of the company in response to the letter from shareholder Citadel, which owns a 9.8% stake in E*trade and called for a special shareholder meeting to review “strategic alternatives” including a sale, as well as a declassification of its board. Potential suitors for E*Trade include AMTD and SCHW, according to the Wall Street Journal. E*Trade also decided to change its board structure in April, but removing Parks and Weaver is “inappropriate and contrary to Delaware law”.

Singapore’s Foreign Exchange Market Committee reported that Singapore’s currency-trading volumes averaged $361.5b a day in April, a 14% increase from October. Traditional spot trading, outright forwards and FX swaps averaged $314.2b per day, up from $278.4b in October, with total volumes increased 32%. Daily turnover of derivatives, comprising currency swaps and options, increased 20% to $47.2b from October.

ISDA commented that Asian countries may struggle to meet the G20 deadline for OTC derivatives and systems to store trading data by end-2012. ISDA’s Asia Pacific regional director told Reuters in an interview that “the US and EU situations are still fluid so Asian regulators who are hoping to harmonize to these regulations need to wait for that process to finish to adjust their own regulatory regimes”. However, “if they wait for that moment, it may be impossible for them to meet the deadline to adjust to set up appropriate CCP or trade repository infrastructure”.

 

Provided By: Equity Research Desk, www.erdesk.com

 

 

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