EXCHANGE NEWSWIRE, 10 August 2011
CME: CBOT will expand its corn trading limits to $0.40 per bushel from $0.30 per bushel, starting August 22, after it received CFTC approval. The new $0.40 limit can be expanded to a maximum of $0.60 in the next trading session following a limit-up or limit-down close. CME managing director David Lehman said “increasing daily price limits will result in less frequency limit moves and will help ensure that our markets provide the most effective means for price discovery and risk management markets”.
CME reduced fees on some of its interest rate (IR) products for asset managers who handle more than $250m. According to a CME spokeswoman, the new program will give customers discounts starting at 20% if they meet certain trading volume requirements, and the “program is designed to further incent continued volume growth for high-volume participants in this important customer group”.
BVMF3 reported adjusted 2Q11 EPS of R$0.21 (-1% y/y) versus consensus estimate of R$0.20 on net revenues of R$468m (-2% y/y) and on operating expenditure of R$167m (+16% y/y). Management announced an R$235.3m dividend; in 2Q11 BVMF3 paid dividends of R$235.3m, equivalent to 80% of GAAP net income. BVMF3 has completed its 60m shares repurchase program which was approved in August 2010; and as of end-July, has repurchased 6m shares of its 30m repurchase program approved in June 2011.
HKEx reported 2Q11 diluted EPS of HKD 1.25 (+19% y/y), versus consensus estimates of HKD 1.24, on total revenues of HKD 2,065m (+19% y/y), and operating expenses of HKD 494m (+21% y/y). 2Q11 cash ADV was HKD 71.1b (+13% y/y). HKEx proposed an interim dividend of HKD 2.16 per share (+14% y/y). HKEx CEO Charles Li also commented that the exchange’s website may have been attacked by hackers, which resulted in documents not being able to be published.
CBOE issued an SEC filing stating that the slowing US recovery and European solvency issues could “negatively impact” its business, as growing investor concerns could cause trading volumes to decline and hurt revenues.
NYX: pre-market orders were halted Wednesday on France’s CAC40 index stocks due to an order acknowledgement issue, but no other products were affected.
SMX will launch the world’s first iron ore futures contract on August 12. The contract will be settled based on the Metal Bulletin Iron Ore (MBIO) Index, which is a good reflection of the seaborne merchant market for sinter fines delivered to China, which makes up approximately more than $100b of the $200b a year iron ore market.
Provided By: Equity Research Desk, www.erdesk.com
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