From the 1st April 2013 South Africa will implement a local Real Estate Investment Trust (REIT) regime that will usher in a new era for the listed property sector. From this date all property companies currently listed on the JSE either property loan stocks or property unit trusts will convert to a REIT structure and any new listings in this sector will have to comply with JSE REIT listing requirements.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced it has entered into an agreement with BGC Partners, Inc. to acquire the eSpeed platform for a purchase price of $750 million in cash plus certain contingent issuances of stock that approximate certain tax benefits to NASDAQ OMX. eSpeed operates a fully executable central limit order book for electronic trading in U.S. Treasuries, which will give NASDAQ OMX a strong entry point in the electronic fixed income business – one of the largest and most liquid cash markets in the world. The transaction is expected to be accretive to earnings within the first twelve months after closing, excluding transaction-related costs, and to generate attractive returns on capital.
Safcom, the clearing house for the JSE’s derivatives market, announced the promulgation of the rules enabling the establishment of a default fund intended to add another layer of investor protection in the exchange traded derivative market.
Moscow Exchange begins settlement of securities on the T+2 basis, bringing its procedures in line with international best practices. As with other recent reforms, the move makes trading on Russia"s main exchange more attractive to both international and Russian market participants.
In line with the objective to promote market and product innovation, Bursa Malaysia issued its amended rules to enable the listing of business trusts on the Main Market of Bursa Malaysia Securities Berhad (“the Exchange”).
The Cayman Islands Stock Exchange (CSX) migrated its electronic securities trading to Deutsche Börse’s Xetra trading system. Xetra trading participants can now use Deutsche Börse’s infrastructure to easily access a non-European financial market. It also gives six new market participants from the Cayman Islands access to an extensive pan-European network of traders.
Borsa Italiana has broadened its bond market offering with a new professional segment on its ExtraMOT market, dedicated to the trading of debt instruments issued by both listed and unlisted Italian companies.
Shenzhen Securities Information Co., Ltd. announced on March 20, 2013 to launch CNI Large-middle Cap. Index (Abbreviation: Large-middle Cap., Code: 399400), and CNI Middle-small Cap. Index (Abbreviation: Middle-small Cap., Code: 399401), both of which took December 31, 2002 as base day, and 1000 point as base point. The two indices are designed on the one hand to reflect the overall price movement of listed companies of different scales, and on the other hand to enrich and improve CNI scale index system.
On 26 December 2012, the British Standards Institution awarded Taiwan Stock Exchange Corporation (TWSE) certification of BS 10012 for its PIMS.
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that the Supervisory Council of NASDAQ OMX Tallinn approved Rauno Klettenberg as the Chief Executive Officer (CEO) of NASDAQ OMX Tallinn.