China seeks to increase gold influence

Exchange Shorts

ICE completed the Liffe US transitions to Ice, with trading and clearing for MSCI Equity Index and precious metal contracts successfully transitioned to ICE Futures US and ICE Clear US on June 30.

NDAQ CEO Robert Greifeld plans to stay with the stock exchange for another three years, working through the end of his current contract, Fox Business reported. According to the report, Greifeld’s decision to stay another three years is due to the need to groom the new president Adena Friedman as his replacement.
DB1 will expand operations outside the EU to give non-European clients the chance to avoid EU’s proposed FTT, according to Reuters. Eurex Zuerich is applied for a US trading license and DB1 Singapore’s clearinghouse will be launched in 2015.

ICE: NYSE raised $21b in proceeds from 89 IPOs and $63b in 114 follow-ons in 1H14.

Shanghai may launch the international trading board for gold during 4Q14, as China aims to attract foreign market players and increase its influence on global gold prices.

NDAQ raised $8.8b in 55 IPO during 2Q14. There also were 24 follow-ons during 2Q14.

Philippine Stock Exchange will buy a new trading system from NDAQ in order to upgrade its trading system and expand into derivatives as well as allow the widespread use of short selling, the FT reported. The new system will go live in mid-2015.

South Korea’s financial regulator, the Financial Services Commission, implemented mandatory settlement of interest rate derivatives via the central counterparty.
Bombay Stock Exchange (BSE) is finalizing deals to bring in HFT firms after SEBI stopped requiring foreign trading firms to register directly with the regulator. BSE has been using Eurex trading system since April 2014.

EU antitrust chief Joaquin Almunia aims to finish the remaining interest rate manipulation cases against HSBC, JP Morgan, Credit Agricole and ICAP before he leaves office in December, Reuters 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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