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WFE Focus April 2011
New services

Abu Dhabi Securities Exchange signs registrar agreement

The Abu Dhabi Securities Exchange and Tasweek Real Estate Marketing and Development, a provider of comprehensive solutions in the real estate development industry, have concluded a registrar agreement. This agreement will provide ADX with various advantages, most notably the completion of its future procedures and status as a public joint-stock company in the financial market. This will create opportunities for UAE investors and other parties to trade in company stocks due to the availability of an official market record established under the terms of this agreement. The partnership stipulates an obligation for the market to provide an electronic stock-saving system for transferring stock ownerships in the company, as well as dismantling mortgage procedures in accordance with existing market laws.

Athens Exchange starts primary auctioning of emission allowances

The Athens Exchange in cooperation with the Ministry of Environment, Energy and Climate Change has undertaken the primary auction of the Emission Allowances (EUAs) of the period 2008-2012, within the European Union, in which the Greek Government will offer the annual total, for the year 2011, of 10 m EUAs from its new entrant’s reserve. The first auction (for one million EUAs) took place on 15 June 2011. The auction of the emission allowances are performed through the OASIS trading system of the Athens Exchange.

Australian Securities Exchange launches free on-line ETF courses

The Australian Securities Exchange has launched seven new and free on-line courses designed to help investors understand ETFs.

Borsa Italiana launches on-line financial education service

Borsa Italiana has launched an investor educational tool called “La Finanza per tutti” (Finance for everybody), a new virtual space dedicated to financial education for retail investors.

Deutsche Börse launches information service for pharmaceutical investors

Market Data & Analytics of Deutsche Börse has launched “insightMED”, an information service that delivers expert assessments and opinions on potentially market-moving news relating to the pharmaceutical industry. Developed in cooperation with market participants, insightMED provides investors, analysts and industry experts who are active in the pharmaceutical sector with trading-relevant information on approximately 100 global pharmaceutical companies.

Deutsche Börse introduces new benchmark for interest rate swaps

Deutsche Börse’s Market Data & Analytics is expanding its range of information products with “Eurex ICAP Swap Spreads”. The new data product, which aims to serve as a neutral benchmark for Euro interest rate swaps, was developed jointly with interdealer broker ICAP. It provides yield spreads between exchange-traded futures and interest rate swaps that are traded OTC. Market participants can use the information to optimize borrowing and hedging costs, review portfolios values and improve risk management.

Deutsche Börse’s Frankfurt stock cash market opens earlier

Since 8 June 2011, the Frankfurt Stock Exchange opens an hour earlier, at 8:00. Only shares, funds and ETFs are concerned, bonds being excluded from the earlier start of trading, The earlier opening is expected to considerably improve the liquidity in trading before 9:00, which in turn may have a positive effect on price quality.

Dubai Financial Market enhances its real time data and services

The Dubai Financial Market expanded its eServices tools to allow investors to benefit from instant access to real time data on NASDAQ Dubai listed securities (which previously had a 15 minute delay), faster DFM real time data, increased flexibility to access and submit on-line requests to DFM instantly via the new eForms service, combined with additional eReports services to monitor their transactions and stock portfolio on-line.

Gretai Securities Market introduces internet-based bond listing system

The Gretai Securities Market launched an internet-based bond listing system on 16 May 2011. The first batch of bonds listed through this system started trading on 25 May 2011.

MICEX launches new risk management system in its currency market

On 16 May 2011, MICEX Group launched a new risk management system in its foreign exchange market. The new system will reduce the costs of participation in trading by using single collateral, a single limit and a flexible system of risk assessment. It will enable market participants to make trades in any of the major currency pairs (USD/RUB, EUR/RUB, EUR/USD) using one of three currencies or any combination of these currencies as collateral. Prior to the launch of the new system there was separate collateral for currency pairs and instruments.

NASDAQ OMX launches BX Venture market

The NASDAQ OMX Group launched the BX Venture Market, with the SEC regulatory approval. This new listing market will provide companies that would not otherwise qualify for an exchange listing the opportunity to list and trade their shares in a well regulated and transparent environment. For companies already trading on OTC markets, contemplating an initial exchange listing or those delisted from a national securities exchange, the BX Venture Market will provide a new, better-regulated listing alternative. Listing standards for this market will require companies to comply with many of the same corporate governance requirements as are required for listing on other securities exchanges and maintain basic quantitative standards. Companies and their shareholders will benefit from the high quality of real-time and post-trade market surveillance and a robust portfolio of products and services that will support BX Venture Market listed companies. Trading will be available on NASDAQ OMX’s INET platform.

NASDAQ OMX Corporate Solutions enhances services

The NASDAQ OMX Group added two products to its corporate solutions suite of services: SocialStream and QTarget. SocialStream is the first social media aggregator for corporate websites, and provides investor relations, corporate communications and marketing professionals with the ability to control and aggregate all outbound corporate messaging into one, comprehensive location. QTarget is a robust investor-outreach tool which enables companies to make superior communications, investor relations and corporate strategy decisions.

NASDAQ OMX Corporate Solutions offers customer stock ownership plan

NASDAQ OMX Corporate Solutions, in cooperation with LOYAL3, introduced a new technology called Customer Stock Ownership Plan that will enable public companies to sell stocks directly to customers through social media outlets and the web with no fees.

Osaka Securities Exchange receives direct access no-action letter from CFTC

The Osaka Securities Exchange has received a direct access no-action letter from the US Commodity Futures Trading Commission on 1 June 2011, allowing US securities firm to directly access the OSE markets as a remote trading participant without having a branch office in Japan.

Osaka Securities Exchange starts publishing enhanced information for ETFs

In August 2011, the Osaka Securities Exchange will begin publishing the indicative net asset value and portfolio composition file per ETF to improve ETF investor convenience. Indicative net asset value is widely used as a reference for estimating the intraday net asset value of an ETF.

Palestine Exchange launches customized website mobile version

The Palestine Exchange recently launched a mobile phone browsing service of its website, which will facilitate easier and instant access to PEX’s website using mobile phones. It will allow investors to view instant daily trading information, as well as listed companies’ stock prices and news.

Singapore Exchange reduces bid size and cuts trading cost

The Singapore Exchange will reduce the minimum bid size for securities on 4 July 2011, leading to lower trading costs for investors. The initiative is expected to lead to a tightening of bid-ask spreads by as much as 80%. The revised minimum bid size and wider forced order range will apply to all securities traded on SGX except exchange traded funds, loan stocks and bonds.

Stock Exchange of Thailand promotes securities trading via internet

The Stock Exchange of Thailand joins with nine commercial banks and their securities companies to start a campaign called “One for All – a simple way to trade online via banks,” aimed at increasing convenience for internet banking customers to be able to access to all types of securities through cooperation with their bank’s securities firms.

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