EXCHANGE NEWSWIRE, 26 July 2011
CME boosted margins requirements on US Treasury futures in an effort to curb bond market volatility, and will also raise the “haircuts” or discounts on the Treasury collateral it will accept at Thursday’s business close.
OSE and CME partnered to offer JPY-denominated futures contracts for their customers by early 2012. OSE will list futures contracts based on the DJIA, and CME will offer an E-micro futures contract based on the Nikkei 225 Average.
OSE reported 1Q FY11 EPS of JPY 5,006 (-69% y/y) on operating revenues of JPY 5.4b (-8% y/y), SG&A expenses of JPY 3.5b (+2% y/y) and ordinary income of JPY 2.2b (-21% y/y). OSE also forecast a dividend of JPY 4,500 per share to be paid at the end of the next quarter.
SGX appointed Jane Diplock as an independent and non-executive director of SGX with effect from July 25. Diplock previously served as Chairman of the New Zealand Securities Commission from September 2001 to April 2011, and was also the Chairman of the Executive Committee of the International Organization of Securities Commissions from 2004 to 2011. She is subject to re-election by shareholders at SGX’s annual general meeting on October 6.
TROW reported 2Q11 diluted EPS of $0.76 (+29% y/y) on net revenue of $713.7m (+24% y/y) and net income of $203.8m (+29% y/y). Assets under management (AUM) were at $521b (+2% q/q).
CBOE was upgraded to “Hold” from “Sell” at Stifel Nicolaus. No target price was given.
Global FX turnover grew to an average daily value of $4.71 trillion according to a Dow Jones Newswire analysis. Chief Executive at the Wholesale Markets Brokers’ Association Alexander J McDonald commented that “high frequency trading and retail traders have been two big growth drivers in FX in recent years”, and “if regulators target them as being widely proposed, volumes of trading would likely be impacted”.
European Parliament is likely to publish the proposed reforms to MiFID and the Market Abuse Directive on October 21, but the schedule is subject to a date being fixed for a meeting of the College of Commissioners, which must first meet o approve the final documents.
Provided By: Equity Research Desk, www.erdesk.com
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