CME HFT lawsuit dismissed

Exchange Shorts

Commodity Mercantile Exchange: Judge John Robert Blakey in Chicago dismissed a lawsuit accusing CME of favoring high frequency traders by giving them access to market data ahead of other investors.

CTIP3 BoD said that BVMF3 R$39 per share Binding Proposal does not represent the fair value of the company and undervalues its business, assets, market position and growth and profitability perspectives.

Warsaw SE CEO, Pawel Tamborski, will resign from his position as of December 31, according to Reuters.

European Union pushed back to January 2016 the unveiling of details of MiFID ll. After the announcement, the EU Parliament and Council will have three months to accept the measures, including cost-based controls of market data, unbundling of payments for research and trading, HFT requirements and closure of most dark pools.

EU regulators may publish rules on margining for non-cleared swaps in January phase in the provisions in September 2016.

Warsaw SE will reduce equity trading fees for large blocks to 0.029% from January 1, 2016.

Bolas y Mercados Espanoles Market Data launched new real-time corporate actions and material information service, aimed at improving the transparency and international visibility of the companies listed

Colombo SE adopted GICS to classify its listed companies along with S&P/CSE co-branded sector indices, according to The Nation.

London  Stock Exchange appointed Professor Lex Hoogduin as Non-Executive Director and David Nish as Independent Non-Executive Director to its Board. Professor Lex Hoogduin is currently Chairman of LCH.Clearnet and previously served as Executive Director at De Nederlandsche Bank (DNB). David Nish was CEO of Standard Life Plc.

Intercontinental Exchange Inc. filed a registration statement with SEC. ICE authorized capital stock now consists of 600m shares, of which 100m shares are designated as preferred stock and 500m shares as common stock.

HKEx leads the IPO market with 71 companies and U$31.2b, followed by NYSE with 52 companies and U$19.6b, NDAQ with U$17.5b, and Shanghai with U$17.1b. 

The Securities and Exchange Commission alleges three Chicago-based traders Behruz Afshar and Shahryar Afshar ‘spoofed’ options exchanges into paying them undeserved rebates and gaming market rules to pay lower fees. Traders got over $225,000 in illegal rebates from the scheme.

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.