EXCHANGE NEWSWIRE, 4 August 2011
DB1-NYX merger: The European Commission will conduct an in-depth investigation on the merger’s consequences, according to a source interviewed by Wall Street Journal, with the main focus on the “combination of derivatives exchanges and clearing”. DB1 CFO Gregor Pottmeyer countered antitrust concerns regarding the merger, stating that customers will benefit from the business combination through savings from lower capital requirements for the combined entity and cross-margining to reduce the cash investors must post to clearinghouse in order to back their trades.
CBOE reported 2Q11 diluted EPS of $0.36 (+33% y/y) versus consensus estimates of $0.33, on operating revenues of $120.3m (+7% y/y) and operating expenses of $63.8m (-10% y/y). Derivatives ADV was 4.45m contracts per day (-16% y/y), and average transaction fee per contract was $0.308 (+10% y/y).
CME declared a 3Q11 dividend of $1.40 per share, payable September 26 to shareholders of record September 9.
NYX aims to be entirely carbon neutral, and has purchased renewable energy certificates and carbon offsets which will neutralize the remaining environmental impact of the company’s global operations. This makes NYX the only global exchange operator and technology provider to achieve this status.
SMX started trading GBP-USD and EUR-USD cash-settled currency futures, The trading unit for the new GBP-USD contract will be GBP 62,500 and trading will be conducted in March, June, September and December contract months. The EUR-USD contract trading unit will be EUR 25,000, equivalent to the existing EUR-USD physically-settled contract, but it will be cash-settled. Clearing and settlement will be done through the Singapore Mercantile Exchange Clearing Corporation (SMXCC).
Brazil’s Finance Ministry denied that it is planning to change the new IOF tax on FX derivatives announced on July 27. A statement issued by the Ministry commented that there will be no change in either the content or the implementation date of the measures.
Provided By: Equity Research Desk, www.erdesk.com
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