EXCHANGE NEWSWIRE, 3 August 2011
TMX: Maple Group will extend its TMX bid till September 30 in order to gain the required approval from Canada’s Competition Bureau as well as regulators in four provinces, to integrate TMX’s exchanges with Alpha Group ATS and the CDS trade clearinghouse. Maple also indicated that if regulatory approvals are not yet given by September 30, it may likely further extend the offer.
TMX acquired Atrium Network, a network solutions company which has existing connectivity platforms covering service areas in US and Europe. The deal, whose terms were not disclosed as TMX considers it “not material”, will allow TMX to extend its “connectivity solutions into Europe and US”, and the combined network will offer 25 points of presence in 11 countries, 24 trading venues and 300 data sources with potential to increase.
DB1-NYX merger received more than 95% support from DB1 shareholders after an additional tender period was run from July 18 to August 1 for shares that were untendered in the period ending July 13. NYX CEO Duncan Niederauer also commented that “it is not surprising that most concern has been expressed by our competitors. This was expected and we believe the regulators will carefully consider the source of these comments”.
ICE reported adjusted EPS of $1.69 (+12% y/y) versus consensus of $1.67; on revenues of $325m (+10% y/y) and adjusted expenses of $128m (+10% y/y), excluding acquisition costs of $6m. ICE guided 2H11 CDS clearing revenues at $35m-$37m and 2H11 CapEx at $25m-$28m. ICE's share repurchase program has a remaining capacity of $185m.
CBOE announced that it would buy back up to $100m in shares, and will raise its quarterly dividend by 20% to $0.12 per share. CBOE will report 2Q11 results on Thursday.
EuroCCP was selected by BofA Merrill Lynch, Credit Suisse, Morgan Stanley and Nomura as the Preferred CCP on BATS Europe’s Interoperable Clearing Service, and by Citigroup through its Global Transaction Services third party clearing business on UBS MTF.
NYX opened up its main European data center in Basildon to allow third-party co-loaction service providers to execute trades without having to pass through NYX’s telecoms network, SFTI. NYX members will now be able to reduce execution trade time by another 14 microseconds.
SGX CEO Magnus Bocker said that there is “no doubt” that SGX will prioritize “organic growth” through improving its products and services, and also commented that rumors about SGX considering LSE as a takeover target reflected greater interest in M&A in US and Europe compared to Asia. Bocker cited the August 14 launch of SGX’s new trading engine as an example of growth, and also said that SGX would introduce circuit breakers, pre-trading checks and other enhancements without 6 to 8 weeks of the launch.
BMV’s MexDer could introduce high-frequency currency trading soon, and MexDer CEO Jorge Alegria said that “we hope to be the first within the next two months”, and that “currency derivatives in organized markets have grown a lot..MexDer won’t be the exception”.
Securities and Futures Commission (SFC) of Hong Kong appointed Ashely Alder as CEO for a three-year term starting October 1. Alder is currently senior partner of an international law firm and head of its Asian division. Prior to that, he was the Executive Director of the Corporate Finance Division at the SFC.
Provided By: Equity Research Desk, www.erdesk.com
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