NDAQ reported 2Q14 adj. EPS of $0.70 (-3% q/q, +12% y/y) and diluted GAAP EPS of $0.59 (-1% q/q, +13% y/y), on revenues of $523m (-1% q/q, +16% y/y) an adj. OpEx of $308m (-2% q/q, +15% y/y) excluding M&A, extinguishment of debt and special legal expenses. NDAQ reduced OpEx guidance to $1.22b-$1.25b from $1.25b-$1.285b. NDAQ paid $100m of debt and returned to its long-term leverage target; and also repurchased $93m of stock. NDAQ declared a $0.15 dividend per share payable on September 26.
ASX reduced fees for interest rate derivatives and OTC clearing in Australia, in response to increased competition from global clearinghouses, Bloomberg reported. According to ASX, charges for customers using ASX Clear (Futures) will be determined by transaction volume, rewarding customers who trade more while removing a rebate based on growth of overall revenue.
Financial Conduct Authority (FCA) is preparing to reach a deal with banks, including Barclays, Citigroup, JPMorgan, and UBS, in the currency-rigging settlement. The regulator is seeking to keep the scope of the deal narrow in order to quicken the speed of the settlement, Bloomberg.
Japan regulator FSA proposed a high threshold for mandated e-trading of swaps, Risk.net reported.
MKTX Chairman and CEO Richard McVey stated that while swap execution facility volumes have improved, they are still disappointing, SNL reported. McVey was quoted saying that “aggregate CDS SEF volumes are lower than expected, and regulatory costs to operate SEFs are far greater than current SEF revenues.”
Nairobi Securities Exchange (NSE) priced shares in its IPO at 9.50 shillings ($0.11), and also stated that it aimed to launch a new derivatives market, as it opened up to non-brokers for the first time in 60 years, Reuters reported.
U.S. Federal Reserve will take the lead in the U.S. to find a replacement for interest rate benchmarks that have lost their luster, with the focus to be on derivatives, MLex reported.