ICE may price the Euronext IPO at EUR 20

ICE entered into an agreement with SR Labs to sell the Wombat Financial Software business that it had acquired as part of the NYSE Euronext acquisition. According to the Financial News, financial deal terms were not disclosed, and the deal is expected to be completed by 3Q14.

ICE may price the Euronext IPO at EUR 20, the lower end of its original price range, and investors who bid lower than EUR 20 may not get any shares, Bloomberg reported.

NDAQ made changes to its Securities Information Processor (SIP) which caused a three-hour trading outage in NDAQ-listed stocks last August, Reuters reported. According to NDAQ head of global information services Brian Hyndman, “we feel we are in a much better spot today, so we will move forward. We do want to be the processor.”

Markit raised $1.3bn in an expanded IPO, in which the IPO size increased to 53.5m shares, priced at $24 each.

U.S. Democratic Senator Mark Warner urged regulators to quicken their pace to complete work on creating an audit trail that will be able to track financial trades and police markets, according to Reuters. Warner also stated that “having this in place will help regulators decipher what is happening in the market. So we need to implement this ASAP, and I hope the Securities and Exchange Commission is listening.”

European Central Bank published a briefing paper in which it stated that the basis for forex benchmarks can be too narrow, as relying on just one set of data to compile a foreign currency benchmark does not ensure its reliability at any time, Reuters reported.

Regulators are looking for a way to prevent the mass close-out of OTC derivatives contracts in case of a large bank defaulting, and are aiming for the opt-in approach, in which the counterparties to a trade would choose to follow resolution rules laid out in a particular jurisdiction, Risk.net 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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