NO 241 – MARCH 2013
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WFE Focus March 2013
New services

ASX to offer enhanced network connectivity

ASX will expand its global network connectivity through the launch of ASX Net Global, a cost-effective, low latency network for global customers to connect to the ASX and ASX 24 trading platforms and to the full range of services located in the ASX Liquidity Center. This enhanced service will provide a leading connectivity solution for international customers wanting to trade on ASX markets and access the Australian financial community. Existing ASX 24 international network customers will be progressively migrated to ASX Net Global during the first half of 2013.

BM&FBOVESPA changes fee policy

BM&FBOVESPA is changing its pricing policy for the cash equity market. These changes are part of the company’s strategic plan and seek to enhance the entire company’s pricing structure, starting from the equity cash market. The initiatives also seek to eliminate cross subsidies, to encourage higher volumes and to share gains from economies of scale.

BM&FBOVESPA receives CFTC approval for several index futures contracts

The US Commodity Futures Trading Commission issued a letter advising BM&FBOVESPA that its MICEX Index, Hang Seng Index, FTSE/JSE Top 40 Index, and the BSE Sensitive Index futures contracts were certified. The contracts may be offered or sold to persons in the US through the BVMF’s direct access terminals located in the US effective 12 March 2013.

CME Group reduces trading hours on several commodity products

On 8 April 2013, CME Group will reduce grain and oilseed trading hours both on the floor and via CME Globex electronic trading platform. In addition, beginning 8 April 2013, electronic and floor trading hours for CBOT corn, soybeans, wheat, soybean meal, soybean oil, rough rice, oats, and KCBT wheat futures and options, plus all related CBOT and KCBT calendar spread options and inter-commodity spread options, will be amended.

Eurex to offer direct market access in South Korea

Eurex Exchange has received confirmation from the South Korean Financial Services Commission to offer its full suite of products in South Korea. Eurex has already established a very successful cooperation with the Korea Exchange, the Eurex/KRX link. The new possibility of a direct membership will further enhance the Eurex/KRX cooperation and strengthen the ties between Korean and German financial markets.

Hong Kong Exchanges introduce after-hours futures trading

On 8 April 2013, Hong Kong Exchanges and Clearing will introduce after-hours futures trading after it received regulatory approval. In consequence, the Hang Seng index and H-shares index futures will be available for trading from 17:00 to 23:00 (after-hours trading) in addition to the regular trading sessions. Gold futures will be considered for inclusion at a later stage.

London Stock Exchange to launch new high growth segment

The London Stock Exchange plans to launch a new market segment in March 2013, the High Growth Segment. Prior to this, it has published a draft rulebook for the new market segment to seek views from market participants. The High Growth Segment has been designed by London Stock Exchange to meet the needs of fast-growing companies. Market feedback confirms there are a significant number of UK and European businesses with ambitious development plans that are currently under-represented on the equity markets. This segment will provide greater choice for companies seeking capital and investors seeking growth opportunities.

Luxembourg Stock Exchange to create market infrastructure for European investment funds

The Luxembourg Stock Exchange, in cooperation with Altus, will develop a market infrastructure for European investment funds. It will provide services to support, facilitate and standardize the cross-border distribution of funds. The initial scope of services will focus on transaction management, information and reporting services. The first step will be to cover Luxembourg and then other cross-border UCITS funds domiciled in various countries. The objective is to launch phase 1 in the third quarter of 2013 with the first users connected to the platform. This first step will be followed by other developments such as trade settlement.

NASDAQ OMX to form private market

The NASDAQ OMX Group and SharesPost formed a joint venture that will establish a preeminent marketplace for private growth companies, the NASDAQ Private Market (NPM). The venture combines NASDAQ OMX’s market and operating expertise as well as resources with SharesPost’s leading web-based platform. The new market will provide improved access to liquidity for early investors, founders and employees while enabling the efficient buying and selling of private company shares. NASDAQ will retain a majority stake in the venture.

Nigerian Stock Exchange provides investor relations services to listed companies

The Nigerian Stock Exchange has signed a Memorandum of Understanding with Thomson Reuters to provide investor relations services to its listed companies, as part of its Value Added Services (X-Value) bouquet. The initiative is expected to improve investors’ interest in the market through enhanced information and assist listed companies in complying with post listing obligations.

Nigerian Bourse launches issuers portal

The Nigerian Stock Exchange has concluded arrangements to introduce the first ever issuers’ portal in the Nigerian Capital Market known as X-Issuer. The new portal, which will be formally launched on 26 March 2013 is one of a number of new regulatory initiatives of NSE that will allow online information submission for enhanced interaction between the Exchange and listed companies.

Qatar Exchange launches sponsored access and liquidity provider activities

The Qatar Exchange launched the “Sponsored Access” and the “Liquidity Provider” facilities. The first activity will allow sponsoring members to provide eligible customers direct access to the trading system, while the second activity will enable members to submit liquidity provider applications for the QE 20 index-constituent securities in accordance with the governing rules.

Singapore Exchange delivers live share prices to Google Finance

On 25 February 2013, the Singapore Exchange started to deliver real-time stock market data to Google Finance. This marks the first time live SGX data is available on an international public finance website. This move will increase global awareness of SGX’s stock market.

SIX Swiss Exchange launches segment for sponsored funds

On 4 March 2013, SIX Swiss Exchange launched its new segment for sponsored funds in which funds can be traded like shares. Investors in traditional mutual funds can enjoy for the first time all the benefits of regulated exchange trading. Thanks to the continuous pricing and instant order execution, investment decisions in fund trading can be implemented immediately and at known prices.

SIX Financial Information enhances data offering with intraday pricing service

SIX Financial Information has teamed up with StatPro Group, a global leader in portfolio analytics, to enhance data services for StatPro clients. SIX Financial Information will deliver timely, accurate intraday global equities pricing via its Intraday Pricing Service (IPS) in a custom format that enables clients to use the data in a completely automated manner.

SIX FinanciaI Information enhances DisclosureNet global data coverage

SIX Financial Information and DisclosureNet, the public disclosure research solution provider, announced their strategic cooperation. The first stage will support the growth of DisclosureNet’s searchable content with international company-level reference data from SIX. Later stages will focus on the addition of instrument data and corporate actions. DisclosureNet provides law, accounting and investment firms as well as all public companies with information on corporate intelligence, financial reporting, disclosure, compliance and corporate disclosure research.

Stock Exchange of Thailand renews “Banker to Broker” scheme

The Stock Exchange of Thailand, together with eight banks and eight securities firms, launches the “Banker to Broker” campaign for a third consecutive year, to expand investment channels through 5,400 bank branches and the banks’ brokerage subsidiaries nationwide. Thanks to the continuous success from this campaign in the previous two years, SET expects to expand the investor base by 20,000 accounts by the end of this year.

Stock Exchange of Thailand launches campaign to attract first-time investors

The Stock Exchange of Thailand joins hands with 28 leading brokers to launch a campaign: “Your 1st stock: beginning with equities and investing with quality” in order to give insights, intensive training, an exclusive workshop, and other benefits for new investors throughout this year, aiming to boost the number of new investors by 70,000 investors in 2013. In addition, SET will continue its “I’m Online Investor” project to keep expanding the online investor base.