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Exchange shorts

NDAQ: NASDAQ Private Market launched its new capital marketplace for private companies that will provide qualifying private companies the tools and resources to efficiently raise capital, control secondary transactions and manage their equity-related functions.

BOLSAA: Asigna, MexDer’s Central Counterparty CCP, is seeking to comply with European Securities and Markets Authority (ESMA) rules and get authorization in Europe as its biggest clients are based in London and Madrid. Asigna has until June 15 according to Basel III regulation, according to Risk.net.

Singapore Exchange (SGX): CFTC approved that SGX offer trading in MSCI Thailand Index Futures, SGX-PSE MSCI Philippines Index Futures and MSCI India Index Futures to U.S. investors.

National Stock Exchange of India (NSE) had a nine-month, ending in December 2013, profit of Rs890 crore (+29% y/y), The Bombay Stock Exchange (BSE) Rs95 crore (+43% y/y) and MCX-SX –Rs140 crore. NSE revenues were Rs820 crore (+10% y/y), BSE Rs352 crore (-5% y/y) and MCX-SX Rs78.23 (-27% y/y). Reported Business Standard.

Dubai Financial Market (DFM): Approved the distribution of 5% of the paid up capital.

Japan Exchange: shares were added to the FTSE Japan large-cap index

Deutsche Boerse (DB1): Clearstream will roll out OTC Collateral, a bilateral collateral management service. OTC Collateral will help customers avoid collateral fragmentation and optimize allocation by enabling them to cover OTC, triparty and central counterparty (CCP) exposures from a single collateral pool.

CBOE will require trading clients to write down details of how they supervise their businesses as a measure to prevent fraud, according to Bloomberg.

IntercontinentalExchange (ICE): the first Dutch institutional investor will operate as an intermediated participant on BondMatch.

ICE: Euronext will implement a dynamic tick size on A1 and P1 group of stocks on the Brussels and Lisbon Cash Markets. Euronext aims to harmonize tick size regimes amongst its markets by applying FESE tick size table no. 4, a dynamic tick size regime that adjust minimum ticks as stock prices more from one price range to another.

BATS Chi-X Europe CEO, Mark Hemsley, expects benefits from Direct Edge merger even though Direct Edge does not have EU operations, as new shareholder as Citadel, Goldman Sachs and Getco could provide ideas, and could also enhance its market data offering.

Hong Kong Exchange (HKEx) released the findings from its Cash Market Transaction Survey 2012/13, showing a five percentage point increase in retail investors’ online trading to nearly 40 per cent of all their trading.


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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