Eris Exchange hits major benchmark

Exchange shorts

Eris Exchange announced that the open interest in its U.S. dollar Interest Rate Swap Futures surpassed $10,000,000,000 in notional value, equivalent to 100,000 contracts, on Feb. 21, 2014.

 

Hong Kong Exchange (HKEx) reported fiscal year 2013 adjusted diluted earnings per share of HKD3.94 (+5% y/y), with total revenues at HKD 8,131m (+26% y/y), total operating expenses at HKD 2,777 (+42% y/y). The Board of Directors proposed a final dividend of HKD 1.72 per share (+18% y/y) for shareholders who appear on the ROM on April 25, 2014.

 

Barclays shut down its London and New York power trading desks, but stated, “We will continue to actively manage our existing books to minimize any impact on our clients’ business.”

 

The European Energy Exchange (EEX) registered its first trade in Swiss power futures for clearing through European Commodity Clearing (ECC). The trade, for delivery in the third quarter, was concluded between EDF Trading and Gunvor International and matched by the broker GFI Securities, Platts reported.

 

The Korean Exchange (KRX) Chairman Choi Kyung-soo stated that “given sluggish trading, it would be best not to impose taxes” on derivatives trading, but should it be unavoidable, he recommends levying capital gains tax instead.

 

Thailand Futures Exchange (TFEX) is looking to collaborate with a major derivatives player, and is also considering whether to list international products on its exchange, according to FOW Intelligence.

 

SEC Commissioner Kara Stein urged the commission to finalize derivatives rules this year, “including the cross-border application of our rules and our business conduct rules”, MLEX reported.

 

U.S. Democratic Senator Sherrod Brown urged two CFTC nominees to tighten supervision on banks owning metal warehouses, oil pipelines and other commodity assets, Reuters reported.

 

About the Author

Bernardo Mariano brings to ERDesk his experience structuring private deals for the acquisition of mutual exchanges. Prior to joining ERDesk Bernardo worked as a Director for Instinet and later, CEO of Reuters' Bondex. He holds an MS in Economics from University of Illinois and an MIA in Finance from Columbia University. He can be reaced at be reached at mariano@erdesk.com. 

Equity Research Desk (www.erdesk.com) provides fundamental analysis of global capital markets related entities to support the investment process of buy-side analysts at hedge funds and traditional money managers. The company focuses its coverage on securities exchanges, discount brokers, trading platforms, asset managers, financial-related technology companies and intellectual property assets in the US, Europe, Asia, and Latin America.

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