CME to reassess data fees

Exchange Shorts

  • CME Group is not planning to raise its stake above the current 25% level that it currently has in Bursa Malaysia’s derivative arm, according to Free Malaysia Today.
  • CME Executive Chairman Terrence Duffy stated that “we’re taking a very judicious look at how we’re implementing this data fee and, not only the data fee, but the increase in general…if we’re missing something that we didn’t see, we’re listening to it,” in response to brokers’ criticism over fee increases that are set to raise costs for futures customers.
  • NDAQ will implement a “kill switch” on its trading platforms as well as two new indexes as part of its NASDAQ IBIS Index Family, Forbes reported.
  • Hong Kong Exchange (HKEx) has been named a co-defendant in the class action lawsuits which allege that price fixing of aluminum took place on LME. According to Reuters, HKEx stated that “HKEx management’s initial assessment is that the lawsuit is without merit and HKEx will contest it vigorously.”
  • Moscow Exchage (MOEX) reported FY13 EPS of RUB 5.23 (+36% y/y), on total operating income of RUB 24.6b (+14% y/y), total operating expenses of RUB 9.86b (+5% y/y)  and operating profit of RUB 14,.8b (+22% y/y). Total trading volumes across all markets increased to RUB 449.4 trillion (+22% y/y).
  • Forwards Markets Commission (FMC) suspended futures trading in agri-commodities on Saturdays, and allowed evening trade in globally-linked farm items on weekdays with effect from April 1.
  • CFTC’s use of “no-action letters” under former Chairman Gary Gensler’s lead is being criticized by its current and former commissioners. According to former CFTC commissioner Jill Sommers, “some of these no-action letters are just temporary but others are simple making a [permanent] change that should have been made in the actual rule – we now have the commission changing policy direction by issuing a no-action letter. The commissioners have no input and in many cases we were given these no-action letters the night before they were issued.”
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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