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WFE Focus April 2011
New services

BME publishes new book on derivatives

BME, the Spanish Exchanges, has recently published a complete guide to derivatives products as part of its Studies & Research collection. This new book will provide the reader with the necessary knowledge to use options and futures in different hedging and arbitraging strategies.

BM&FBOVESPA announces new trading hours

BM&FBOVESPA announces that the trading times for the BOVESPA segment shall be changed as of 17 October 2011, due to the start of daylight saving time in Brazil. There shall be regular trading in a continuous session from 11:00 to 19:30. The after-market shall operate uninterruptedly from 18:30 to 19:30. In the BM&F segment, trading in stock index options shall occur from 10:00 to 18:30.

CME will launch co-location services

On 29 January 2012, CME Group will launch co-location services, comprised of hosting, connectivity and support services. The co-location service will allow for a lowest latency connectivity possible for trading all products on the CME Globex platform.

The Egyptian Exchange to support listing on NILEX

The Egyptian Exchange and The General Authority for Investment (GAFI) signed a Memorandum of Understanding for mutual cooperation aiming to attract new companies to list in the Egyptian stock market for small and medium enterprises, Nile Stock Exchange (NILEX). A fund will be established by GAFI to support NILEX in order to facilitate the listing of new small and medium sized companies, to support their growth and to increase their investments. SMEs represent about 90% of the total companies in Egypt.

FINRA launches securitized product tables

The Financial Industry Regulatory Authority in cooperation with Interactive Data Corporation have created market activity and pricing-related tables for securitized products to provide investors and other market participants insight into asset and mortgage-backed securities transaction data reported to the Trade Reporting and Compliance Engine (TRACE). The tables will increase transparency and will be updated every trading day after market close.

Hong Kong Exchanges launch issuer services for listed companies

Hong Kong Exchanges and Clearing launched a series of issuer services in October 2011 aimed at boosting the visibility of listed companies and improving communication between listed companies and the investment community. Initially, Hong Kong Exchanges will organize monthly conferences at HKEx’s Auditorium with representatives from listed companies of the same industry, sector, or theme to brief the audience on the most updated company information. Secondly, the Exchange plans to invite representatives and guests of listed companies which will have the opportunity to open the market at the HKEx securities market’s Trading Hall to mark the start of the trading day.

ISE introduces ISE Implied Volatility and Greeks Feed

The International Securities Exchange has introduced the ISE Implied Volatility and Greeks Feed, a joint offering from ISE and Hanweck Associates. Powered by Hanweck Associates’ high-performance Volera engine, this feed provides real-time, low-latency, tick-level options analytics for all equity, index and ETF options traded on the nine US options exchanges.

MICEX and Ernst & Young sign an agreement on cooperation in the development of the Market for Innovations and Investments

The MICEX and Ernst & Young signed an agreement on cooperation in the development of the MICEX Market for Innovations and Investments, MICEX MII. This cooperation is aimed at developing joint projects to support innovation companies, including the development of advisory programs and recommendations for improving corporate governance in innovation companies. It is also intended to organize joint events aimed at spreading information about the opportunities offered by MICEX RII and RII-Board. The joint work of the parties is designed to effectively prepare innovation companies for entering the public market.

NASDAQ OMX adopts ICB company classification standard globally

NASDAQ OMX has decided to adopt the ICB (Industry Classification Benchmark) standard globally, effective as of 1 February 2012. In consequence, NASDAQ OMX exchanges in Stockholm, Copenhagen, Helsinki, Reykjavik, Tallinn, Riga, and Vilnius will adopt ICB which is the current standard on the NASDAQ OMX exchanges in the US.

NYSE Euronext plans to establish retail liquidity pilot program

NYSE Euronext filed a proposal with the US SEC to establish a first-of-its-kind Retail Liquidity Program on a pilot basis that would produce cost savings for individual investors through price improvement on retail order flow for New York Stock Exchange and NYSE Amex listed equity securities. Under the proposed rule change, which is subject to SEC approval, there will be two new classes of market participants on the New York Stock Exchange and NYSE Amex: Retail Liquidity Providers which would be required to provide potential price improvement for Retail Orders in the form of non-displayed interest that is better than the best protected bid or the best protected offer; and Retail Member Organizations which would be eligible to submit certain retail order flow to the Exchange. Retail Orders are generally defined as unmodified agency orders that originate from a natural person.

NYSE Euronext Lisbon creates issuers senior advisory committee

NYSE Euronext Lisbon has implemented the Issuers Senior Advisory Committee (ISAC) with the aim of strengthening the relationship with the listed companies’ community. Its role will be to discuss new business opportunities, institutional and regulatory initiatives, direct communication to clients, market conditions, and to gather feedback on current services and market conditions. The committee is also intended to be a think tank to share and improve best practices.

Osaka Securities Exchange introduces NASDAQ OMX’s Corporate Intelligence to listed companies

The Osaka Securities Exchange, operator of JASDAQ, and NASDAQ OMX Corporate Solutions announced the addition of Corporate Intelligence to the suite of products JASDAQ and OSE can offer to their listed companies. Corporate Intelligence is a leading provider of integrated financial information and analytical applications to the global investment community and is an integral part of the NASDAQ OMX Corporate Solutions offering. The service equips clients with corporate shareholder communications, capital market information, investor contact management and board-level reporting tools that enable investor relations professionals to analyze large volumes of data, identify investor interest, maintain investor relationships and create high-value reports for senior management.

Qatar Exchange allows investors to receive dividends directly from banks

Qatar Exchange launched an ambitious initiative aiming at allowing investors to have their dividends directly deposited in their bank accounts. The purpose of this initiative, which comes in line with the best international practices, is to help develop the Qatari financial market and protect investors’ rights.

Saudi Stock Exchange launches new financial services

The Saudi Stock Exchange (Tadawul) launched the new Tadawulaty services, which encompass a bundle of new financial services targeted at the different segments of investors as well as issuers, such as dividends entitlement reports, expected dividends notifications, certificates search, registration services for unlisted companies, trading restriction, and Tawasul services.

Shenzhen Stock Exchange will launch trial of standing supervisor system

The Shenzhen Stock Exchange issued a circular on the trial implementation of the standing supervisor system in certain sponsors, scheduled to be launched on 1 January 2012 in 11 sponsors to supervise IPO companies. This is another important measure taken by the Exchange to enhance the continuous supervision works of the sponsors on the SME and ChiNext boards.

SIX Swiss Exchange offers co-location services

SIX Swiss Exchange will offer co-location services for its new equities trading platform X-stream INET together with Equinix, a provider of global data center services. Connection to the new platform, scheduled for launch in the first half of 2012, will offer market participants significantly enhanced trading capacity and reduced latency.

Stock Exchange of Mauritius launches new website

The Stock Exchange of Mauritius launched its new website. This move coincides with the implementation of the SEM’s Automated Trading System (SEMATS). The new website contains a number of new features aimed at empowering local as well as foreign investors and assisting them in their research of data and information. The website address remains www.stockexchangeofmauritius.com.

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