EXCHANGE NEWSWIRE, 19 August 2011
EMCF will reduce its fees by 50% for clients starting October 1, as European clearers start competing for business from interoperable trading venues. EMCF will shift from tiered pricing to band pricing, which means that participants will have a single fee across all trading volumes regardless of execution venue. Trades by large participants with more than 500,000 daily executions will be charged EUR 0.005, and the maximum clearing fee to be EUR 0.03 for participants will less than 100,000 trades.
ICE: The Delaware Supreme Court ruled that a NYBOT member was wrongly denied stock in the combined entity created in ICE’s merger with NYBOT in 2007. The case has been remanded to Chancery Court for damages.
DAX Index futures saw a 100 points fall in less than two seconds on Thursday as a result of a cascade of trades. The futures extended losses of up to 7.1% to 5,533.5 as the index experienced the largest decline since December 2008.
ASX is currently searching for a new CEO and managing director, and the process is expected to be completed before the next AGM on September 22. Current head Robert Elstone is due to depart in October.
National Stock Exchange (NSE) of India is likely to have an extension till end-September to reduce its 11.1% stake in the National Commodity and Derivatives Exchange (NCDEX). The stake reduction is necessary to meet a rule introduced in July 2010 which prohibits an exchange from owning more than 5% of another.
GreenX Exchange revised the launch of its California Carbon Allowance (CCA) futures contract to August 28 from the original September 12 date. The CCA contract will be available for trading on CME Globex and for submission for clearing through CME ClearPort.
Goldman Sachs will start a Canadian dark pool, Sigma X Canada, which will allow clients and other broker-dealers access to securities listed on TSX. The dark pool will be launched next month.
Provided By: Equity Research Desk, www.erdesk.com
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