NO 229 – MARCH 2012
Investing in long term growth of SMEs

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WFE Focus January 2012
New services

Baku Interbank Currency Exchange connects to Central Bank of Azerbaijan system
On 6 February 2012, the Baku Interbank Currency Exchange and the Central Bank of Azerbaijan agreed to connect BBVB to the Bank’s system (Temenos T24). It will allow BBVB to carry out payments in real time, receive operatively the information on movement of funds on accounts of BBVB, carry out direct export of payments to CBA system T24; supervise more operatively process of execution of payment orders; accelerate process of settlement following the results of trading sessions; to raise safety level of settlement.

Bombay SE launches SME exchange platform
On 13 March 2012, the BSE launched operations of its SME Exchange platform with its first listing.
SME Exchange offers a platform to small and medium companies to raise capital. The listing norms have been extremely simplified and made convenient for SMEs compared to listing norms on the main board. 

Bulgarian Stock Exchange synchronizes its trading hours with international markets
The Bulgarian Stock Exchange has announced a change in its trading timetable. The purpose is to synchronize the exchange’s trading session hours with the European markets. Under the plan, the time interval for executing trades on the exchange will be extended. Restructuring the BSE trading sessions is also a prerequisite for introducing new products based on mutual indices, as well as for the possibility to carry out arbitrage in the case of dual listings.

CME Group starts offering portfolio margining for OTC interest rate
Beginning 7 May 2012, CME Group will offer portfolio margining of OTC interest rate swap positions and treasury futures for house accounts. Later in the year, the same benefits will be available for customer accounts pending regulatory approval.

CME Group launches new online magazine
CME Group launched the company’s new online magazine “Open Markets”. The comprehensive new site publishes a variety of content including magazine-style feature stories, blog posts, videos, photos and news articles.  It combines in-depth information that characterized the company’s former print publication, CME Group Magazine, with the global perspective of the company’s thought leadership site and blog.

Hong Kong Exchanges implements second phase of new trading hours
On 5 March 2012, Hong Kong Exchanges launched the second phase of the new trading hours for its securities and derivatives markets. This change is aimed at aligning the opening of the Hong Kong securities market’s afternoon trading session with that of the Mainland market, and further increasing the overall competitiveness of HKEx’s markets in the region. The continuous trading session now run from 9:30 to 12:00 and from 13:00 to 16:00. The trading hours of HKEx’s derivatives markets will also change.

Istanbul Stock Exchange launches financial education platform
The Istanbul Stock Exchange launched a financial education information platform, called “Conscious Investor”, on 12 March 2012. The platform, created as part of the investor campaign, is primarily aimed at providing information on the capital markets and the stock exchange for those interested in learning about or investing in the capital markets. It is designed as an interactive portal, and will inform Turkish investors with the help of training modules and videos.

London Stock Exchange Group signs data agreement with Google
The London Stock Exchange Group has signed a data licence agreement with Google to allow it to distribute real time ‘last trade price’ data free of charge. Users of Google will, for the first time, be able to access London Stock Exchange and Borsa Italiana real time trading data that was previously only available with a 15-minute delay. The agreement is part of LSEG’s on-going commitment to making core real time data services as accessible as possible to retail investors around the world.

Clearstream facilitates market access to Russia
Clearstream, via its Russian agent Deutsche Bank Moscow, has successfully settled its first domestic government bond transaction on an OTC basis. This type of transaction represents a significant step forward in the liberalization of the Russian government bond market: Clearstream customers can now safekeep Russian government bonds in addition to Russian equities. The expansion of the service for Russia has been made possible by recent changes in the local securities market regulation.

MEFF extends trading hours for IBEX 35 futures
Starting on 21 May 2012, MEFF (BME’s derivatives market), will extend the trading hours for IBEX 35 futures. Trading will then take place from 9:00 to 20:00 while the current trading hours, from 9:00 to 17:35, will apply to the rest of derivatives products traded on this market. This decision is the answer to the demands of members to allow trading in IBEX 35 futures after the close of the trading session of the Spanish market. During this time other international stock exchanges remain open and therefore contracts on international benchmarks, among them the IBEX 35, are still traded.

Montréal Exchange launches financial education initiatives in derivatives
The Montréal Exchange launched two financial education initiatives, the Options Trading Simulation and the Canadian Derivatives Exchange Scholars Program. These new programs were created to support university finance students who are interested in learning about derivatives products, as well as to support the province’s university finance departments’ derivatives education.

NYSE Euronext and Bloomberg launch integrated bond trading platform
NYSE Euronext’s fixed-income trading platform, NYSE Bonds, and Bloomberg Trade Order Management Solutions (TOMS) offer sell-side fixed-income dealers an integrated platform to access the US corporate bond market. Dealers using Bloomberg TOMS can now trade on the NYSE Bonds marketplace via the Bloomberg service. Bloomberg TOMS integrates with NYSE Bonds via a FIX connection that supports market data for price discovery and order management services.

Osaka Securities Exchange receives CFTC certification for Nikkei 225 futures
The Osaka Securities Exchange has received the US Commodity Futures Trading Commission certification allowing the Nikkei Stock Average Volatility Index Futures to be offered or sold to US persons as of 1 0March 2012.

Saudi Stock Exchange displays put-through trades on its website
The Saudi Stock Exchange (Tadawul) added a new link on its website displaying the Put-Through trade information executed during the trading day as well as the historical information.

Singapore Exchange links global liquidity pools to Asian economies
The Singapore Exchange has brought Asian markets closer to global investors with the launch of hubs in Chicago and London. These hubs will provide customers with convenient and cost-effective local connections to SGX markets.

Stock Exchange of Thailand launches e-dividend service
The Thailand Securities Depository, under the Stock Exchange of Thailand Group, joins hands with the Siam Commercial Bank to launch Thailand’s first e-dividend service application via ATM to facilitate securities holders who are customers of the bank, enabling them to get faster service and reduce the documentation process. SET aims to increase the number of e-dividend users by 100,000 persons this year and expects at least another two banks to join this project.

Stock Exchange of Thailand enhances investment channels
To stimulate securities trading via internet banking, the Stock Exchange of Thailand together with seven banks and seven securities firms launched the “Banker to Broker & One for All” campaign for a second year, to expand investment channels through 5,200 bank branches and banks’ brokerage subsidiaries.

Stock Exchange of Thailand improves its websites
From April 2012, the Stock Exchange of Thailand will renovate its two websites (www.set.or.th and www.settrade.com) to be a full-service financial and investment information center with easy access for all levels of users, and the exchange will also launch mobile access.

SIX Swiss Exchange’s COSI segment opened to British collateral providers
SIX Swiss Exchange’s COSI (Collateral Secured Instruments) service now lists collateral providers from the UK. COSI is an innovative service for minimizing issuer risk with structured products. COSI products are traded exclusively on Scoach Zurich and Frankfurt. COSI is a cooperation between SIX Swiss Exchange, SIX Securities Services and Eurex Zurich.

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