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WFE Focus February 2011
Corporate news

Bursa Malaysia appoints new CEO
Bursa Malaysia appointed Dato’ Tajuddin Atan as its Chief Executive Officer with effect from 1 April 2011. He will take over from Dato’ Yusli Mohamed Yusoff who will be in office until 31 March 2011.

Eurex acquires majority share in EEX
Eurex will become the new majority shareholder in the Energy Exchange (EEX). Eurex and Landesbank Baden-Württemberg (LBBW) agreed to the acquisition of LBBW’s 22.96% share in the EEX by Eurex. Eurex’s current shareholding in the EEX of 35.2% will increase to over 50%. The exact shareholding will be determined in the second stage of the tender process, which immediately follows the first round.

ICE acquires Ballista Securities
IntercontinentalExchange has acquired Ballista Securities, a registered broker/dealer that offers an electronic options platform for the execution of block-sized and complex multi-leg options transactions. Ballista will augment ICE’s existing initiatives in the options market, which began with YellowJacket’s entry into the off-exchange negotiated market last year. YellowJacket, a wholly owned subsidiary of ICE, is a leading options negotiation platform. The Ballista system will be incorporated into the YellowJacket workflow allowing easier access to Ballista’s technology and providing customers with a platform that offers seamless connection to an array of electronic systems and liquidity sources.

LCH.Clearnet announces new Chief Executive
LCH.Clearnet Group has appointed Ian Axe as Chief Executive of both LCH.Clearnet Group Limited, the group holding company, and LCH.Clearnet Limited, its UK based subsidiary. Mr Axe joins from Barclays Capital where he was most recently global head of operations and COO EMEA. He will replace Roger Liddell, who has been chief executive since July 2006 and who announced his intention to retire in July 2010.

London Stock Exchange Group confirms details of pan-European derivatives platform
The London Stock Exchange Group confirmed that it is to build its pan-European derivatives business, through the creation of ‘Turquoise Derivatives’. This new business will combine with the Group’s existing derivatives market, EDX London, and will utilize TMX Group’s market leading derivatives trading technology, SOLA, already being used by EDX. The new business will utilize EDX’s existing technology and clearing infrastructure. Turquoise Derivatives plans to provide trading in pan-European single name and index futures and options. It will also offer a pan-European clearing model. In launching Turquoise Derivatives, Turquoise, LSEG’s leading multi-lateral trading facility, is to acquire the EDX business (including its related assets and liabilities) from EDX London for nominal consideration. Prior to this transfer, London Stock Exchange Group will acquire TMX Group’s 19.9% stake in EDX London. The transaction is expected to be completed on 1 May 2011. Turquoise Derivatives will announce the timetable for the launch of its new products in the first quarter of 2011.

NYSE Euronext forms NYSE Blue
NYSE Euronext completed its transaction with APX (a provider of market infrastructure and services for the environmental and sustainable energy markets) to create NYSE Blue, a new global company with an exclusive focus on environmental and sustainable energy markets. NYSE Euronext contributes its ownership in BlueNext in return for a majority interest in NYSE Blue. The transaction has been approved by regulators and APX shareholders, who will retain a minority stake in NYSE Blue.

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