EXCHANGE NEWSWIRE, 29 September 2011
TMX: Maple Group spokesman Peter Block said that “as for the possible extension of the bid, yes, Maple is open to doing so.” Block also said that an announcement “is expected to be made prior to the expiry of the current bid,” which is due September 30, according to Reuters.
LME has been approached by more than 10 suitors and should allow its books to be inspected in early December, according to LME CEO Martin Abbott, who was quoted in the Financial Times. Abbott also said that “anyone trying to buy this exchange has a bit of mountain to climb to persuade shareholders that there is a good reason to sell the shares,” and that “what we’ve got here at the LME is reasonably tightly held ownership by corporate, not individuals,” with Goldman Sachs being the larger shareholder with 9.5%.
CBOE: C2, which will start trading SPXpm options on October 4, will charge retail traders and fund managers $0.44 per contract to buy and sell SPXpm. Market makers will have to pay $0.17 per contract while brokers and active traders deemed professionals will pay $0.40 per contract.
ICE will launch New Expiry (NX) Brent contracts in 4Q11, with the first expiry of NX Brent to be February 2013. The contracts will have an expiry calendar based on 25 days instead of 21 days in order to reflect the change in how the forward cash market is assessed by Platts’ oil price assessment service, according to Reuters.
MICEX’s subsidiary CJSC JSCB National Clearing Centre (NCC) was admitted to the Global Association of Central Counterparties (CCP 12).
Spain, Italy and France extended their bans on short selling of selected bank and other financial stocks. The bans in France and Italy will last until November 11, and the Spanish ban will remain in force until “market conditions allow” it to be lifted, according to the Financial Times.
European Union governments are close to an agreement on an OTC derivatives trading law, according to Bloomberg sources. The draft rules will be discussed next week in order to confirm the accord, after which the final version of the law would be completed in negotiations with the European Parliament.
Provided By: Equity Research Desk, www.erdesk.com
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