EXCHANGE NEWSWIRE, 29 July 2011
BATS Europe launched the “preferred interoperability” system that allows its customers to choose between LCH.Clearnet, x-Clear or EuroCCP. BATS Europe had previously had an exclusive deal with EMCF. EuroCCP will reveal next week the firms that have agreed to use EuroCCP as part of the BATS arrangement.
DB1 reported adjusted EPS of EUR1.07 (-10% y/y) versus consensus of EUR1.11, on sales revenues of EUR528.6m (-6% y/y) and adjusted OpEx EUR273m (flat y/y). GAAP net income was EUR178.8m, including merger related costs of EUR18.8m and costs for efficiency programs of EUR-2.6m.
BME reported 2Q11 EPS of 0.44 (-25% y/y) versus consensus estimates of EUR 0.48, on operating income of EUR 76.9m (-20% y/y), operating expenses of EUR 25.1m (-14% y/y). ROE for 2Q11 was 31.4% (-23% y/y). 2Q11 total cash turnover was EUR 238.4b (-20% y/y) and total derivatives contracts traded were 17,108,446 contracts (-0.2% y/y).
EXAE reported 1H11 EPS of EUR 0.23 (+64% y/y) versus consensus estimates of EUR 0.21, on operating revenues of EUR 23.3m (-31% y/y), operating expenses of EUR 10.1m (-7% y/y), and non-recurring revenue of EUR 5.1m due to tax returns on fees made to the Hellenic Capital Market Commission (HCMC), which is a deductable expense. 1H11 ADV was EUR 107m (-41.5% y/y).
CME may move some operations away from Chicago to reduce its taxes, but it has yet to come up with an exact deadline. CME is currently talking with at least three states, including Texas, Florida and Tennessee, about the possible relocation of some of its business to more “hospitable” business environments, according to CEO Craig Donohue.
HKEx unveiled an “urgent and necessary” strategic plan which involves a series of reforms to ensure the exchange’s survival on “rainy days”. CEO Charles Li said that “marginal benefit from new listings from the mainland has begun to fall given the already very large base of our market capitalization”, and “we need to explore new opportunities and start new chapters”.
SGX appointed Christine Lie as Senior Vice President and Head of Listings (China) starting November 1. Lie will join SGX from HKEx where she has worked for 10 years, and was most recently Vice President in the Issuer Marketing Department.
NYX: NYSE Technologies was selected by Brazilian trading system provider Americas Trading Group (ATG) as a primary technology provider for the development and operation of a new execution platform, which will provide buy-side market participants with a single access point to brokers and exchanges in Brazil, Mexico, Chile, Colombia, Peru and Argentina.
SEBI will soon propose a separate set of guidelines for alternative investments which promise heft returns to investors from “offbeat” avenues such as art, antiques and real estate. The guidelines are aimed at protecting investors who are exposed to a high level of risk in the absence of clear rules for “alternative investments”.
Provided By: Equity Research Desk, www.erdesk.com
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