LME to launch aluminum premium contract

Exchange Shorts

Australian Securities and Investments Commission proposed to introduce curbs on high-frequency trading and to reduce the speed of super-fast computer trades if the practice goes unchecked, the Australian Financial Review reported. According to ASIC chairman Greg Medcraft, “if people can’t have trust and confidence in the market, then you don’t have a market.”

Toronto Stock Exchange and the Financial Times Stock Exchange joint venture FTSE TMX Global Debt Capital Markets, bought MTS’ indices business, Reuters reported.

Securities and Exchange Board of India partially reversed curbs on USD-INR forward contracts that were imposed in 2013 after the rupee hit record lows. According to the Business Times, SEBI asked exchanges to restore the initial margins and extreme loss margin for USD-INR forward trades to pre-July 8, 2013 levels, with the changes to be implemented starting April 15.

NASDAQ Dubai launched trading in Emirates REIT, which raised USD 175m in its IPO and was 3.5 times oversubscribed. This marks the first listing in GCC by a REIT.

The London Metals Exchange expects to launch an aluminum premium contract as soon as end-2014, according to CEO Garry Jones, Bloomberg reported. The contract will be 25 metric tons in size and will involve a swap of warrants, or bearer documents for a specific lot of metal.

LCH.Clearnet appointed Jill Considine as its first US Chairman, the Financial News reported. Considine will join the board of LCH.Clearnet Group on April 25, and will also serve as chair of the board of LCH.Clearnet LLC. Considine served as Chairman and CEO of the DTCC from 1999 until 2008 and was previously president of the New York Clearing House Association LLC for five years.

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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