Stock QuotesEXCHANGE NEWSWIRE, 7 September 2011

DB1- NYX merger: the control and profit transfer agreements of the deal go against DB1’s ability to operate the Frankfurt Stock Exchange, and the Exchange Supervisory Authority of the State of Hesse “must prohibit the merger”, according to a report by Ulrich Burgard, professor of business law at the Otto-von-Guericke University of Magdeburg.

Stock Exchange of Bahia, Sergipe and Alagoas (Bovesba) is expected to announce an MOU with a Middle East exchange to launch a competitor to BVMF3.

Budapest Stock Exchange (BSE) head Mihaly Patai quit amidst a disagreement between Hungarian market participants and Wiener Börse, which is BSE’s majority owner, regarding the introduction of a new trading system. Some of Hungary’s largest brokers had rejected the upgraded Xetra platform this week, saying that it threatened the competitiveness of local firms. Patai quit due to the “tense” situation and as his “duties had grown to the extent that would have no longer allowed me to work effectively”.

NSE: Thomson Reuters launched its Elektron cross-asset trading and data infrastructure at the Indian exchange’s Mumbai-based co-location facility. Elektron will deliver high-speed connectivity to the exchange’s data and with time will provide trading firms with access to 350 exchange-based and OTC markets.

PLUS Markets Group partnered with former Chi-X COO Hirander Misra to establish PLUS Trading Solutions (PLUS-TS), which will offer investment banks, brokers and trading venues access to low-cost trading platform technology.

Equiduct CEO Peter Randall commented that the European Commission has failed to properly reform best execution in the MiFID II draft. Randall claims that under MiFID II, a venue could charge the lowest trade execution price while still charging above market rates for settlement and in theory be providing best execution, and “the customer’s overall cost would be more expensive”.

CFTC appointed John L. Rogers as its head of the new data and technology office which will open in October. Rogers has worked at the CFTC for 10 years and was most recently the director of the office of information technology services.

 

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

 

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