iStock_000001244995XSmall EXCHANGE NEWSWIRE, 11 August 2011

SGX raised initial and maintenance margin requirements for its index-based contracts by approximately 10%. An SGX spokeswoman said that “in adverse market conditions or increased volatility, margin reviews are performed more frequently to ensure sufficient collateralization of trades”. No changes have been made to margin requirements for derivatives contracts that are not linked to equity indices.

BVMF3 will implement a new fee structure for the next quarter that will reduce the share of the charges levied to investors for trading to 30% from around 70%. The new structure will eliminate cross subsidies in fee rates across the trading and post-trade business. BVMF3 also emphasized the importance of HFT as its moves to attract automated traders helped to offset declines in its revenues despite flat markets.

HKEX Chairman Ronald Arculli commented that it was unlikely that the HKEx website was hacked in an attempt to profit from trade, as the “distributed denial-of-service” attack would have made it difficult for the hackers to access price-sensitive information.

Oslo Børs will migrate its equity and fixed income trading to LSE’s Millennium Exchange trading platform. A timetable for the implementation will be released soon.

FXCM reported 2Q11 GAAP EPS of $0.19, on revenues of $103.4m (+7% y/y) and total expenses of $97.6m (+54% y/y). Adjusted pro forma diluted EPS was $0.21. Customer equity at the end of 2Q11 was $839m (+97% y/y). FXCM declared a quarterly dividend of $0.06 per share of Class A common stock.

SEBI requested that BSE, MSX-SX, NSE and USE heavily penalize brokers who allow their clients to trade in derivatives market without sufficient margin, and the fines could be as high as 100% of the shortfall of funds. Penalties will be imposed starting September 1.

 

Provided By: Equity Research Desk, www.erdesk.com

 

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