EXCHANGE NEWSWIRE, 9 August 2011
S&P lowered ratings on DTCC’s and OCC’s clearing facilities, including the Depository Trust Co. (DTC), National Securities Clearing Corp. (NSC) and Fixed Income Clearing Corp (FICC), to AA+ from AAA, and also included negative outlooks for them. S&P issued a statement saying that the move reflects “potential incremental shifts in the macroeconomic environment and the long-term stability of the US capital markets as a consequence of the decline in the creditworthiness of the federal government”.
CME appointed Michael Kilgallen as managing director of its equity products división and Sean Tully as head of CME’s IR division, replacing Robin Ross. Kilgallen was previously head of global prime finance for Citigroup’s equities business and prior to that had worked at Goldman Sachs. Tully joins form WestLB where he was managing director, global head of credit and fixed income trading, and previously also traded IR derivatives at Citibank and Greenwich Capital.
NYX proposed to tighten its listing standards for reverse merger companies. The stricter criteria would include requiring the companies to first trade on a US OTC market or another US or foreign exchange for at least a year, file the appropriate 8K or 20F disclosure form, maintain a minimum average stock price of $4, and file timely disclosures after the reverse merger, including at least one annual report with audited financial statements.
MICEX-RTS merger: 93.3% of MICEX shareholders who voted and 99.8% of the RTS shareholders who participated voted in support for the restructuring of OSJX RTS to ZAO MICEX. Approval from the Federal Anti-Monopoly Service needs to be obtained before the integration can be implemented, and approval is expected within the next two months.
NYX: NYSE Technologies improved its SuperFeed low latency real-time market data solution, allowing participants to now have seamless access to new direct data feed content and value-added services from NYSE Global Indices, Nasdaq OMX BX, Nasdaq OMX PSX, BATS, Athens Stock Exchange, Johannesburg Stock Exchange, and Cyprus Stock Exchange.
LSE admitted Danske Bank as a market maker on its European bond market, MTS BondVision. There are now a total number of 29 liquidity providers on the MTS, which sees an ADVT of EUR85b, with approximately 500 counterparties. The venue also aims to launch a new platform for EUR-denominated non-government debt by the year-end.
TOCOM’s June 2012 gold futures contract hit a high of JPY 4,399/gram during the August 9 session. This is a record price since the listing of the gold futures contract on March 23, 1982. Trading on this day for the gold futures (standard) contract totaled 144,475 contracts, including 113,047 contracts traded for June 2012 contracts.
Boursorama’s UK arm, Selftrade, will offer live streaming prices and order-book data to frequent traders for free, in a bid to increase its attractiveness among the minority of highly active retail UK investors. Clients who make more than 60 or more trades per quarter will have the Level 2 LSE data free of charge, and those who make between 11 to 60 trades per quarter can use the “Trader Terminal” service for GBP15 per month.
Provided By: Equity Research Desk, www.erdesk.com
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