CME to launch North American physically-delivered Aluminum futures

Exchange shorts

Chicago Board Options Exchange Executive Chairman Bill Brodsky and CEO Ed Tilly plan to sell up to 14% of their shares in the company. According to Reuters, this is the first time that any of the CBOE’s top officers have planned to sell stock since CBOE went public in 2010.

  • Chicago Mercantile Exchange will launch North American physically-delivered Aluminum futures contracts to start trading on May 5, 2014, pending regulatory approval.
  • The London Stock Exchange is considering the implementation of a new intraday auction period of three minutes at 2 p.m. daily, the Financial Times reported. The auction would cover FTSE 100 and FTSE 250 stocks, and the most liquid stocks of the junior AIM market as well as the International Order Book.
  • Financial Transaction Tax: German lawmakers stated that a proposed German-French tax plan may tax derivatives from the start, although it is not certain which derivatives would be included in the plan, Bloomberg reported.
  • IntercontinentalExchange Group Inc. more than doubled its CEO Jeffrey Sprecher’s pay in 2013 to just under $18m, Reuters reported.
  • NDAQ aims to expand its ETF indexing operations, ETF Trends reported. According to executive VP of NDAQ, John Jacobs, the exchange aims to challenge competitors such as S&P Dow Jones Indices, MSCI and FTSE Group. Jacobs also stated that “the indexing market needs to be disrupted” and that NDAQ’s fees were “only a fraction” of that of its competitors, as reported by the Financial Times.
  • NASDAQ OMX received approval from the Swedish Financial Services Authority for its clearing house to operate under tougher new European regulations, the Financial Times reported.
  • JP Morgan will sell its commodities business to Swiss trader Mercuria Energy Group for $3.5b in cash, and deal is expected to be completed in 3Q14, the Wall Street Journal reported.
  • National Commodity and Derivatives Exchange introduced additional quality safeguards for goods deposited at its warehouses to boost investor confidence.
  • Liquidnet will purchase London-based Vega-Chi Ltd., although financial deal terms were not disclosed, Bloomberg 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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