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WFE Focus February 2011
New services

BME launches BME Clima and develops weather index platform
BME (the Spanish Exchanges) is launching a new project, named BME Clima, starting a new business line dealing with weather risk management that should allow a large number of companies and institutions in Spain to enhance their coverage of climate-derived risks and hedge possible economic losses. BME Clima also offers a consultancy service, providing customers with targeted information on the global weather risk market and the hedging solutions available. Related to this project, the Exchange launched on 25 January 2011, a weather index platform offering customers information, data, and tools that will help them identify their weather-related risks and facilitate their hedging. Information will be updated daily and measured by 300 meteorological stations distributed all over Spain. The platform comprises 42 indices including four meteorological variables: temperature, wind, sunshine and precipitation. BME has also developed a tourism index for Spain as a whole as well as for its main regions, comparing current and past meteorological conditions.

BM&FBOVESPA launches smartphone application
After the launch of iPad application, BM&FBOVESPA has recently added a smartphone application. It will allow users to spot on a real time basis quotations, indices and news.

Bursa Malaysia launches educative initiatives to promote corporate governance and sustainability practices among listed companies
As a front-line regulator committed to maintaining and promoting best business practices for corporate governance and sustainable growth, Bursa Malaysia will be holding a series of educational and engagement initiatives specifically designed for the Boards of Directors of its listed companies. Under these initiatives, Bursa Malaysia will be organizing a series of half-day programs for Directors.

CBOE publish CBOE volatility index term structure data on website
On 14 January 2011, the Chicago Board Options Exchange created a web page displaying CBOE Volatility Index (VIX) term structure data, calculated every 15 seconds throughout the trading day. The term structure of VIX refers to the characteristic differences in the volatility calculated for options of different maturities.

CBOE launches iPhone application and Facebook fan page
The Chicago Board Options Exchange has announced two new initiatives in the social media space: "CBOE Mobile," its iPhone application, and a Facebook fan page.

CBOE Streaming Markets to go live
CBOE Holdings’ subsidiary Market Data Express, has launched a new market data service known as "CBOE Streaming Markets". This service provides three separate, direct data feeds of real time quotations and trade information from CBOE, C2 Options Exchange and the CBOE Stock Exchange.

Deutsche Börse and Clearstream launch joint funds trading
Deutsche Börse and Clearstream have launched their joint funds trading on Deutsche Börse’s cash market Xetra. More than 80,000 investment funds that are currently on Clearstream’s order routing platform Vestima+ can now be introduced for trading via Xetra by market makers. After execution, the funds will be settled through Clearstream’s post-trade facility for mutual funds, the Central Facility for Funds. Stock exchange execution will allow individual funds units to be priced and monetized immediately. Accordingly, customers trading investment funds on exchange and pooling them within Clearstream can use their funds units as collateral to efficiently secure financial transactions involving counterparty risk.

Istanbul Stock Exchange sign protocol on SME IPOs
The Istanbul Stock Exchange, the Capital Markets Board, the Small and Medium Sized Enterprises Development Organization and the Association of Capital Market Intermediary Institutions of Turkey signed a protocol on 4 February 2011 aimed at facilitating the access of SMEs to funds through initial public offerings. The protocol is also expected to bolster the ongoing IPO campaign which has helped finalizing 22 issues only last year, and five this year so far.

Qatar Exchange plans to join NYSE Euronext network
As part of its development strategy, the Qatar Exchange plans to add to its services offering the connectivity between Qatar Exchange and the NYSE Euronext’ SFTI network. This connectivity is expected to be available soon. It should be followed by further steps aiming at introducing Delivery Versus Payment, diversifying the traded products and increasing liquidity in the market. International market participants that are connected to NYSE Euronext markets will be able to easily access Qatar Exchange directly though Direct Electronic Access (DEA) under the sponsorship of the local brokers. SFTI is a high-performance network backbone connecting markets across the US, Europe and Asia, and is expanding into the Middle East through its hub in Qatar.

RTS launches new service, RTS MoneyDate
On 14 February 2011, RTS launched a new service, called RTS Money, which will allow a wide range of market participants to undertake foreign exchange operations associated with positions on FORTS and RTS Standard. RTS Money is a new stage in the RTS’s consistent process of creating a complete cycle of services for trading on the exchange. RTS Money will allow market participants to manage efficiently currency risks and liquidity, supporting new business developments by companies and attracting other customers.

Singapore Exchange enhances market access with continuous all-day trading
The Singapore Exchange is enhancing access to its listed companies by introducing continuous all-day trading from 9:00 to 17:00. SGX trading hours will therefore overlap more with those of other Asian exchanges, allowing investors who trade pan-Asian securities to respond to regional market movements and news flow. Subject to regulatory approval, the SGX securities market is expected to begin trading on a continuous basis from 1 March 2011. The SGX derivatives market is already trading continuously.

Singapore Exchange introduces pre-trade risk controls
The Singapore Exchange will introduce pre-trade risk controls to strengthen the marketplace with increased opportunities for direct access to the exchange network. The risk controls will be implemented in the SGX derivatives market by the third quarter of 2011. With SGX pre-trade risk controls, customers can now connect their order management systems directly to SGX’s trading engine. This will help customers reduce infrastructure development costs and speed up time-to-market.

SIX Swiss Exchange and Liquidnet enter agreement to provide a platform for execution of large block trades
SIX Swiss Exchange and Liquidnet, the institutional equities marketplace, have signed an agreement by which SIX Swiss Exchange members and Liquidnet’s buy side market participants will be able to execute large block trades efficiently in both Swiss and other European equities. The liquidity in Liquidnet’s exclusive liquidity pool will be available to SIX Swiss Exchange members and Liquidnet members will benefit from the additional liquidity provided by SIX Swiss Exchange members. SIX Swiss Exchange members will be able to use their existing front-end trading systems to trade in approximately 3600 international securities covering initially Switzerland, UK, France, Germany and the Netherlands. This offering is expected to go live in the second quarter of 2011.

SIX Exfeed launches new real time data service for non-display information usage
As a result of the SIX Swiss Exchange and SIX Exfeed consultation on reference markets and the principles of real time reference data pricing, SIX Exfeed, the SIX Swiss Exchange’s real time data dissemination company, will replace the annual distribution fee for execution venues with a new license fee for non-display information usage. The decision has been taken based on clear and distinctive feedback given by stakeholders and market participants during the consultation phase.

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