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WFE Focus December 2011
New services

Australian Securities Exchange to centralize listings resources

The ASX Group will be transferring the listings adviser functions of its Adelaide and Brisbane offices to Sydney from 31 March 2012. The bulk of ASX’s communications with its listed entities are already centralized in Sydney, including the publication of company announcements and the coordination of listing applications.

Australian Securities Exchange sign agreement with Options Industry Council

The Australian Securities Exchange has entered into a content sharing agreement with the Options Industry Council, a US body created to educate investors and financial advisers about the benefits and risks of exchange-traded equity options. The agreement makes the OIC’s research available to local investors. ASX will provide OIC institutional equity options white papers on the ASX website alongside its own Australian-focused research material.

Bombay Stock Exchange launches website for mutual funds

The Bombay Stock Exchange, in collaboration with Morningstar India, launched a dedicated website to empower investors with relevant information and tools on evaluating mutual fund investment opportunities.

Budapest Stock Exchange launched new MTF market

On 15 November 2011, the Budapest Stock Exchange launched its new MTF, called BETa Market, where the largest and most liquid European equities are traded. Trading and settlement on the BETa Market is conducted in local currency targeting mainly Hungarian retail investors; liquidity is ensured by market makers. At the start, ten European shares are traded. The product range, however, is expected to be broadened in the near future to 20-30 further European equities as of January 2012.

Bursa Malaysia launches guide to listing

Bursa Malaysia unveiled a practical guide to listing on Bursa Malaysia to assist aspiring companies, particularly small and medium enterprises (SMEs), on their listing journey and life as a listed company.

Bursa Malaysia Derivatives introduces negotiated large trade facility

Market participants can now transact large-sized orders on futures contracts listed on Bursa Malaysia Derivatives via the Negotiated Large Trade facility. It allows large trades to be transacted at a single price, thereby minimizing slippage and execution uncertainties. This service is available for the KLCI index futures, the crude palm oil futures, the 3-month KLIBOR futures and the 5-Year MGS futures contracts. The new system facilitates direct and private negotiations among customers and enables large orders to be transacted away from the trading system.

Deutsche Börse plans new premium segment for corporate bonds

As of 2012, companies will be able to float bonds on the Prime Standard of the Frankfurt Stock Exchange, a Deutsche Börse subsidiary. The new segment will provide cost-effective access to private and institutional investors on the primary market, and liquidity and transparency on the secondary market. The Prime Standard for corporate bonds will be aimed at larger listed and non-listed companies that wish to place an issue volume of over EUR 100 m. In contrast to the Entry Standard for bonds which is aimed at SMEs, the issuers in the premium segment have to meet higher transparency standards and more extensive follow-up requirements.

Egyptian Exchange unveils new trading mechanism on Nilex

On 13 November 2011, Egyptian Exchange’s Nilex market, the EGX market dedicated to SMEs, started operating on a continuous trading basis, as the main market. The new system allows trading from 10:30 to 11:30. Price limits will be allowed to fluctuate 5% up and down during the trading session. The closing price is calculated according to the volume weighted average price, provided a minimum value trading of EGP 20,000 per day is concluded.

ICE to distribute Platts’ information and trading content

IntercontinentalExchange and Platts, an energy, petrochemicals and metals information provider, are combining capabilities to provide the market with an integrated solution for commodities information and trading, with ICE becoming a distributor of Platts’ electronic products and services. Beginning in the second quarter of 2012, some 20,000 ICE participants may subscribe to receive direct access to Platts’ electronic information services through WebICE, ICE’s proprietary frontend trading system. This new agreement expands the relationship between ICE and Platts.

NYSE Technologies expands historical data research products

NYSE Technologies, the commercial technology unit of NYSE Euronext, expanded its historical TAQ product suite to include European cash equities and fixed-income data from Euronext markets as well as derivatives data from the NYSE Liffe US.

Palestine Exchange issues investor relations guide

The Palestine Exchange has issued the “Investor Relations” guide, the first of its kind in Palestine to include comprehensive information on the concept of Investor Relations and its vital role in public shareholding companies.

SIX Swiss Exchange/Deutsche Börse’s Scoach publishes market report express

Scoach Switzerland, the joint venture exchange for structured products of SIX Swiss Exchange and Deutsche Börse, published the Scoach Market Report Express on 2 December 2011 for the first time. It is targeted at investors, market participants and members of the public who wish to gain key trade data as fast as possible. It complements Scoach’s existing information offering and is an additional means of increasing transparency in the structured products market.

TAIFEX introduces block trading

On 19 December 2011, the Taiwan Futures Exchange launched a block trading system for three products: TAIEX futures, mini-TAIEX futures and TAIEX options. Orders for block trades can be single orders or combination orders. In the case of combination orders, prices will be quoted separately for each contract.

Tokyo Stock Exchange expands co-location and proximity services

Until recently, co-location and proximity service users were limited to trading participants, information vendors, and independent software vendors. As of November 2011, co-location and proximity services have also become available for hosting and network service providers.

Tokyo Stock Exchange launches overseas PR magazine

The Tokyo Stock Exchange Group launched “TSE Magazine ‘Evolving Japan’”, TSE’s first PR magazine targeting overseas investors. This magazine was created for the purpose of supporting IR activities of listed companies and allowing international investors to gain insight into the appeal of Japanese companies and market.

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