NO 235 – SEPTEMBER 2012
52nd WFE Annual Meeting

WFE Focus September 2012
New services

Bursa Malaysia, Singapore Exchange and Stock Exchange of Thailand connect to ASEAN trading link

On 18 September 2012, Bursa Malaysia and Singapore Exchange connected on the ASEAN Trading Link, offering investors a new easy access to both markets. The Stock Exchange of Thailand will follow and will connect to the ASEAN Trading Link this October.

Bursa Malaysia extends eCash payments

Bursa Malaysia has extended its eDividend facility to include all types of cash payments made by listed issuers to their securities holders. Currently, 80% of the total dividend payments received by securities holders are made via eDividend. Listed issuers will be required to pay specified types of cash payments by directly crediting the same into the bank accounts of their securities holders who have provided their banking details to Bursa Depository.

CBOE plans 24-hour VIX futures trading and CFE London hub

CBOE Futures Exchange plans to expand trading hours for CBOE Volatility Index futures to virtually 24 hours from eight hours beginning sometime in 2013, pending regulatory approval. The Exchange also plans to establish a London hub next year, with CFE network equipment housed in a London data center. The hub will provide European firms with a cost-efficient way to send and receive CFE data and to execute trades on the Exchange.

CME Group transfers Green Exchange products to NYMEX

On 27 August 2012, CME Group migrated all Green Exchange products to a CME Group Designated Contract Market, delisting them from GreenX and listing them on NYMEX.

Deutsche Börse signs agreement with Fitch Ratings to offer machine-readable credit ratings

Deutsche Börse has signed an exclusive agreement with Fitch Ratings to deliver low-latency credit rating announcements in machine-readable format via its news feed “AlphaFlash”. The AlphaFlash Fitch Ratings feed will initially provide sovereign debt rating announcements including changes in outlook. Other types of credit ratings will be added in the next months.

Hong Kong Exchanges to set up financial information services business subsidiary in Shanghai

Hong Kong Exchanges Information Services, a wholly-owned member of the Hong Kong Exchanges and Clearing, has obtained approval from the Chinese authorities to establish a financial information services business subsidiary in the Mainland. The new service company, called Ganghui Financial Information Services, is scheduled to launch a market data hub in Shanghai in the third quarter of 2013. It will serve as a point of presence for HKEx’s market data distribution in the Mainland, and will facilitate direct access to HKEx’s real time market data by Mainland information vendors. At present, most Mainland information vendors receive HKEx market data via third party connections.

ICE and Cetip launch fixed-income trading platform

IntercontinentalExchange and Cetip, Latin America’s largest private fixed-income depository, announced the launch of a Brazilian fixed-income trading platform. The platform, called Cetip Trader, brings together electronic trading, voice confirmation, straight through processing and real time and historical data in a single tool that will provide transparency, price formation, and workflow automation to Brazil’s fixed-income markets. ICE is providing the technology for the platform.

İMKB launches financial news terminal

On 12 September 2012, İMKB launched the financial news terminal, established by Anadolu Agency. With the financial news terminal, Anadolu Agency aims to serve market data and news to its subscribers more rapidly and thereby gain competitive edge.

ISE introduces strike price intervals in weekly options

The International Securities Exchange has received SEC approval to introduce a USD 0.50 strike price intervals in weekly options offering an expanded range of strike prices and potentially a lower cost of entry to investors who are using weekly options to effect their trading and hedging strategies. This new program extends to weekly options classes that currently trade in one dollar increments.

Montréal Exchange launches virtual trading platform

Montréal Exchange launched its options trading simulator. The virtual trading platform is an online and smartphone-compatible tool that enables individual investors to execute options trading strategies, enhancing their knowledge of both options and market dynamics.

Moscow Exchange optimizes HFT on its markets

On 3 September 2012, Moscow Exchange introduced an additional commission fee (the ACF) on its securities and FX markets that will be applied to HFT traders creating unproductive load on the trading system. The ACF practice employed on the Moscow Exchange Derivatives Market and in foreign trading venues (LSE, Borsa Italiana, Deutsche Börse) has showed that the introduction of the fee entails an improvement in trading algorithms performance and a mitigation of their impact on access to trading for other market participants.

NASDAQ OMX expands actionable resources for board community

The NASDAQ OMX Group renewed the strategic partnership between NASDAQ OMX Corporate Solutions and the National Association of Corporate Directors. It reflects NASDAQ OMX Corporate Solutions’ commitment to providing public and private companies with an expanded platform of director education and board development programs.

NYSE Amex Options eliminates position limits for options on SPDR S&P 500 ETF

NYSE Amex Options, one of NYSE Euronext’s two leading US options exchanges, has become the first exchange to file for and receive approval from the US Securities and Exchange Commission to eliminate position limits for options on the SPDR S&P 500 ETF on a fourteen-month pilot basis. This pilot program offers NYSE Amex Options traders the ability to optimize their S&P 500 hedging strategies using SPY options. NYSE Arca Options is expected to submit a similar filing soon.

Tokyo Financial Exchange launches new data service

On 1 October 2012, the Tokyo Financial Exchange launched a new data service for Exchange FX margin contracts open interest information to accommodate investors’ needs. The data will be available to FX margin trading members and institutional investors via TFX’s selected quote vendors.

Warsaw Stock Exchange offers mobile device exchange data application

The Warsaw Stock Exchange now offers a mobile exchange data application to iPhone, iPad and Android users, giving them access to quotations, key statistics and latest news from the WSE markets.