NO 243 – MAY 2013

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WFE Focus May 2013
New services

BOX offers complex order book

The BOX Options Exchange has received US SEC approval to launch its Complex Order Book on 3 May 2013. The BOX complex order technology supports implied pricing for all two leg orders, while the standard book supports up to four separate leg components. Implied pricing and NBBO protections in the BOX Complex Order Book assures customer orders the highest probability of execution and price protection.

Deutsche Börse launches new business segment for IT and market data

Deutsche Börse announced the formation of a new “Market Data + Services” segment that combines its Market Data & Analytics unit with its external technology and connectivity services. It provides capital markets with essential information and value added services through the entire investment cycle. The offering comprises high quality front and back office data, innovative indices, superior exchange infrastructure and reliable connectivity services housed under five business units: Front Office Data + Services, Issuer Data + Services, Back Office Data + Services, COO Data + Services and Venue Services.

Montréal Exchange launches futures contracts on trading simulator

The Montréal Exchange, a wholly-owned subsidiary of TMX Group, launched futures and the full suite of Canadian derivatives products contracts on its Trading Simulator. Launched in September 2012, the virtual trading platform is an online and smartphone-compatible tool that provides retail investors with access to the complete MX derivatives product offering. It enables investors to execute both options and futures trading strategies.

NASDAQ OMX launches Workspace

The NASDAQ OMX Group has launched WorkSpace, a new cloud computing platform that will expand the company’s Corporate Solutions client base and enter the burgeoning virtual data room market. It is a fully hosted, cloud-based solution that safeguards all sensitive and proprietary information in real time, both inside and outside of an organization’s firewall.

NASDAQ OMX offers pre-trade risk management service to Nordic derivatives members

NASDAQ OMX has launched a new pre-trade risk management service, Genium INET PRM, to its Nordic derivatives customers. It will facilitate real time pre-trade protection to mitigate erroneous orders and transactions. Through the service, member firms that trade derivatives on NASDAQ OMX Genium INET platform are able to monitor their own order flow, including their sponsored access and Direct Market Access clients.

NASDAQ OMX re-launches marketplace designed for ETPs

The NASDAQ OMX Group will re-launch NASDAQ OMX PSX in an effort to create the leading marketplace for Exchange Traded Products. The Exchange will offer unique market making programs and features designed to provide robust liquidity to institutional and retail investors. PSX will be re-launched during May 2013 pending approval by the US Securities and Exchange Commission.

NYSE Euronext launches SME marketplace in Europe

On 23 May 2013, NYSE Euronext will launch a subsidiary dedicated to SMEs. This project was developed in conjunction with market participants and is a key component of a dynamic financing framework designed especially for SMEs. It will make an active contribution to the range of measures for SMEs recently announced in France as well as to the various initiatives supporting SMEs prepared in Belgium, Netherlands and Portugal. The new entity will cover the current B and C compartments of NYSE Euronext’s regulated market, as well as NYSE Alternext in each of the European countries where the group operates. Managed by a subsidiary set up in France for this purpose, it will have its own brand, operating budget and team. This project will give NYSE Euronext a truly pan-European market dedicated exclusively to SMEs, with a central order book and a transparent market model.

NYSE Euronext launches NYSE Governance Services

NYSE Euronext launched NYSE Governance Services, an integrated suite of resources for public and privately-held companies seeking to create a leadership advantage through corporate governance, risk, ethics and compliance practices.

Oslo Børs renames its bond market segment to Nordic ABM

Oslo ABM, Oslo Børs alternative marketplace for listing and trading in bonds and short term fixed-income instruments, has changed its name to Nordic ABM. This segment targets fixed-income issuers throughout all Nordic region.

Qatar Exchange introduces liquidity provider agreement

Qatar Exchange has introduced a liquidity provider scheme, recently approved by the Qatar Financial Markets Authority. It will enable the Exchange’s member firms to submit constant quotes for the sale or purchase of a particular security to increase its liquidity.

Shanghai Futures Exchange to launch new order types

On 7 June 2013, the Shanghai Futures Exchange will launch two new order types in the trading system: Fill-or-Kill (FOK) orders and Fill-and-Kill (FAK) orders. Fill-or-Kill orders refer to orders placed at a defined price, under which all reported lots will be automatically cancelled by the system if they are not fully executed; Fill-and-Kill orders refer to orders placed at a defined price, under which the remaining number of reported lots will be automatically cancelled by the system if the reported lots are partly executed.

Singapore Exchange to revise mainboard listing fees

The Singapore Exchange will revise its annual listing fees for Mainboard companies from 1 January 2014. The fees for new and additional listing of securities on Mainboard will be revised from 1 July 2013. The fee revision reflects the extensive resources channeled into improving the fund-raising, trading and risk management systems and processes for the benefit of listed companies and investors.

SIX Financial Information launches new income distribution service

SIX Financial Information, a subsidiary of SIX Swiss Exchange Group, has launched an income distribution service to provide timely and accurate dividend information. During the development phase, SIX worked closely with a client based working group to design a service tailored to the industry’s requirements. The new fund income distribution solution was launched as an extension to SIX Financial Information’s Funds Fast module.

Stock Exchange of Thailand revamps electronic trading portal

The Stock Exchange of Thailand has revamped its electronic trading portal (www.settrade.com) with more information and functions to help it more effectively cater to the demand of new on-line investors while still being a complete information center for finance and investment. The refurbished site is now much easier and faster to access, with timely updates through all social media.

Thailand Futures Exchange reduces fees on SET50 index and gold futures

On 2 May 2013, the Thailand Futures Exchange reduced fees for SET50 index futures and gold futures. This reduction will align TFEX with other international derivatives exchange and will benefit all investors and promote business opportunities.

Thailand Futures Exchange launches “TFEX Open House”

The Thailand Futures Exchange is expanding its quality investor base by joining hands with 17 leading broker members to launch “TFEX Open House,” an intensive derivatives training program to teach first-time derivatives investors how to use these products to manage investment risk.

Tokyo Stock Exchange expands indicative net asset value calculation lineup

On 30 April 2013, the Tokyo Stock Exchange began calculating and publishing Indicative Net Asset Value (Indicative NAV) per share in real time for a selection of ETNs.