NO 239 – JANUARY 2013
2012 WFE market highlights

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WFE Focus January 2013
New services

Abu Dhabi Securities Exchange launches new trading mechanism

The Abu Dhabi Securities Exchange launched a new trading mechanism known as “Call Auctions”, on 2 January 2013. The migration from the current system of Volume Weighted Average Price will help ADX operate more seamlessly with global systems. There will be a pre-closing auction session from 13:50 to 14:00. During this period, brokers will be allowed to enter orders of buy or sell into the automated system as well as change them but without executing them.

Bucharest Stock Exchange to review pricing policy

The Bucharest Stock Exchange’s Board of Governors decided to implement a new pricing policy which will be submitted to the approval of the company’s shareholders. The new policy aims at stimulating trading volumes. The new fees will become effective after their approval by the Extraordinary General Meeting of Shareholders, in the first quarter of 2013.

CBOE offers new customized option pricing service

The Chicago Board Options Exchange’s affiliate Market Data Express launched the CBOE Customized Option Pricing Service on 14 January 2013. The new data service, which employs the market-making expertise of CBOE’s liquidity-providing community, offers subscribers end-of-day indicative valuations for “customized” options such as FLexible EXchange (FLEX) options and certain OTC options.

‹MKB launches trading on its new derivatives market

On 21 December 2012, ‹MKB launched trading on its new derivatives market, ‹MKB Futures & Options Market (VIOP). The market started with the trading of futures and option contracts on various single stocks.

Korea Exchange revises fee schedule

On 1 January 2013, the Korea Exchange released a new fee schedule affecting trading and settlement of stocks, bonds and derivatives products.

Osaka Securities Exchange authorized to provide automated trading services from Hong Kong

The Osaka Securities Exchange has obtained an authorization for providing automated trading services through its trading platform J-GATE from the Hong Kong Securities and Futures Commission with effect from 19 December 2012. OSE introduced the Remote Transaction Participant System so that foreign securities firms in Hong Kong can directly access the OSE markets as transaction participants without having a branch office in Japan. OSE aims to further improve liquidity and the international competitiveness of the OSE markets.

Thailand Futures Exchange reduces fees for SET50 futures contracts

In order to promote its SET50 futures monthly contracts, the Thailand Futures Exchange will reduce by 80% the exchange fees in the first half of 2013 for all participants, starting 1 January 2013.

Warsaw Stock Exchange Group’s subsidiary Polish Power Exchange starts trading

On 20 December 2012, the Polish Power Exchange, a WSE Group subsidiary, started trading. The creation of a gas exchange in Poland is a result of focused efforts of many partners engaged in the liberalization of the Polish gas market including the legislator, the regulators and the business community. All organizational aspects were the responsibility of the Polish Power Exchange and the Warsaw Commodity Clearing House, also part of the Warsaw Stock Exchange Group.