EXCHANGE NEWSWIRE, 14 September 2011
CBOE will launch electronic trading of SPXpm, its S&P500 options, on October 4.
NDAQ CEO Robert Greifeld said the firm will reach its targeted 2.5 times leverage ratio earlier than expected and by 3Q11 will set a capital plan that would most likely include share buybacks. According to CFO Lee Shavel, Nasdaq has approximately $50m - $75m in free cash flow per quarter, of which buybacks would be a portion.
NDAQ’s reverse merger plan is being questioned by SEC, who said that plans by NYX and NDAQ should be “consistent”. The SEC filing dated September 12 raised questions “as to whether Nasdaq’s proposal is consistent with the requirements of the Securities Exchange Act, including whether the proposal listing requirements would prevent fraud and manipulation”.
DB1-NYX merger will make Frankfurt a “hub for financial stability”, due to “the combined offering of such derivatives trading, coupled with a strong integrated presence in clearing and settlement – and thus related risk management services”, according to a study by Professor Henrik Enderlein of the Hertie School of Governance.
BOX and ISE entered an agreement to resolve a patent infringement case which BOX filed against ISE in May 2011. Under the agreement, ISE took a license to BOX’s US Patent No. 7,941,364 entitled “Price Improvement Processor for Electronic Trading of Financial Instruments” and BOX took a license to ISE’s US Patent No. 7,246,093 titled “Automated Exchange for Trading Derivative Securities”.
Hellenic Exchanges chairman Socrates Lazaridis said the exchange is “not ready” to be part of industry consolidation seen in “US, Europe and Asia”. Lazaridis also mentioned that “the discussion is about the technological infrastructure that we have and the availability of flexibility in case we will substitute our infrastructure”.
SGX experienced a half hour trading disruption on Wednesday that caused “delays in disseminating trade confirmation on messages in the securities market”.
Stock Exchange of Thailand (SET) deployed the use of the CA SWIFT service for corporate action notifications. This makes SET “the first bourse to provide CA SWIFT messages in Southeast Asia”, and HSBC Thailand will be the first to apply this new service starting this month.
Provided By: Equity Research Desk, www.erdesk.com
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