After 17 years on the Executive Board of Deutsche Börse AG, almost ten of which as CEO, Reto Francioni will hand over his post to his designated successor, Carsten Kengeter, after Deutsche Börse AG’s Annual General Meeting on 13 May 2015. Reto Francioni will turn 60 in August 2015. Over the past months the Chairman of the Supervisory Board, Joachim Faber, and the respective Supervisory Board committees have identified an suitable successor in an extensive process and with the accompanying support of the CEO, Reto Francioni. Carsten Kengeter, who will already join as a member of the Executive Board in April 2015 at the latest, will take over the position of CEO effective 1 June 2015 after the Annual General Meeting 2015. The current Deputy CEO, Andreas Preuss, will extend his mandate until 31 May 2018. The relevant decisions were taken by the Supervisory Board in its meeting today.
CME Group, the world's leading and most diverse derivatives marketplace, announced it has expanded its centrally cleared, over-the-counter (OTC) agricultural swap offering with the introduction of a new U.S. dollar (USD)-denominated Malaysian Palm Olein Calendar Swap. Pending CFTC review, the new USD Malaysian Palm Olein Calendar Swap will be available for clearing on CME ClearPort on 3 November 2014, and will be listed with and subject to the rules and regulations of CME.
Settlement of the CME Group USD Malaysian Palm Olein Calendar Swap is based on prices from Thomson Reuters. Thomson Reuters produces a daily reference price for the palm oil complex
Hong Kong Exchanges and Clearing Limited (HKEx), HKEx Group companies the London Metal Exchange (LME) and LME Clear Limited, China Merchants Group Limited (CMG) and China Merchants Securities Co. Limited (CMS), signed a memorandum of understanding (MOU) on 22 October 2014 for a strategic alliance in product development and related services for market users.
The signing ceremony was held in London in the presence of HKEx Co-Head of Global Markets Romnesh Lamba; LME Chairman Sir Brian Bender; Dr Yu Liming, Executive Vice President of CMG; Charles Feng, General Manager of the Business Development Department of CMG, CMS Chairman Gong Shaolin; and CMS CEO Wang Yan. Other senior representatives from HKEx Group and CMG companies also participated in the ceremony.
In a move that will affect a large swathe of companies in Singapore and Southeast Asia, the Singapore Exchange (SGX) will be making it mandatory for all listed companies to publish sustainability reports. Giving the keynote address at the annual International Singapore Compact CSR Summit on Friday, SGX chief executive Magnus Bocker said the exchange is embarking on a one year study to determine what guidelines should be adopted for these reports. He noted that since SGX launched voluntary guidelines for sustainability reporting in 2011, take-up by companies has been slow “We will take a leading role… and we will make it the rule”, Bocker announced.
The African Stock Exchange (AFSX) plans to use the technology and support services of Deutsche Börse's Xetra trading venue. The AFSX is a start-up based in Mauritius with the objective of offering securities trading for the whole of Africa. Xetra trading participants will have easier access to the African financial markets in future through the Deutsche Börse infrastructure. Moreover, market participants in Africa will have technical access to a large pan-European trader network.
The London Metal Exchange (LME) announces its appointment by the London Platinum and Palladium Fixing Company Limited (LPPFCL) to be the new provider of London Platinum and Palladium Prices.
The LME’s custom-built electronic solution, LMEbullion, will provide a pricing methodology that fully meets the administrative and regulatory needs of market participants including the IOSCO Principles for Financial Benchmarks. LMEbullion is already at an advanced stage of development and will be ready in advance of the anticipated go-live of 1 December 2014
The CBOE Futures Exchange, LLC (CFE®) announced that trading volume during the week of October 6 through 10 -- both exchange-wide at CFE and for futures on the CBOE Volatility Index® (VIX® Index) -- set new records for a one-week period.
Total exchange-wide volume at CFE from October 6 through 10 totaled 1,664,651 contracts, topping the previous record of 1,506,331 contracts traded during the week of August 4 through 8. For VIX futures, volume last week totaled 1,661,153 contracts, surpassing the previous record of 1,504,866 contracts traded during the week of August 4 through 8
The Nasdaq Educational Foundation announced the establishment of the Nasdaq Entrepreneurial Center, located at 505 Howard Street in San Francisco's South Financial District. The Nasdaq Entrepreneurial Center – slated to open in 2015 – will be a non-profit organization, funded through a grant from the Nasdaq Educational Foundation. The Center is designed to convene, connect and engage aspiring and current entrepreneurs, while also serving the community of the greater Bay Area through events, education and mentor programming
Moscow Exchange and Bank of China have signed a cooperation agreement aimed at expanding collaboration between the Russian and Chinese financial markets.
Bank of China President Chen Siqing and Moscow Exchange CEO Alexander Afanasiev signed the agreement during an official visit between the Chinese and Russian Prime Ministers.
On 14 October 2014 Moscow Exchange admits to trading 13 issues of Russian corporate Eurobonds.
Trades will be settled in USD. Trading will be open to both qualified and non-qualified investors. All instruments are USD denominated and will be included on Listing Level 3 (a non-quotation list).
Moscow Exchange Deputy CEO Andrey Shemetov said of the new product launch: "Eurobonds are attractive instruments for investors, allowing them to receive income in foreign currency. Trading on Moscow Exchange will boost the liquidity of Russian corporate Eurobonds already trading as well as those that we plan to admit to coincide with the start of trading on foreign markets. The first stage is to admit 13 Eurobonds, then expand the list in the future".
All of the Eurobonds but two to be admitted to trading are already eligible for repo trading with settlement in RUB. A total of 132 issues corporate Eurobonds are currently eligible for interdealer repo trading. Currently twenty three issues of Sovereign Eurobonds, as well as Eurobonds issued byVEB Leasing and VEB are trading on Moscow Exchange.