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.
The JSE has introduced a fast track listing process to make it quicker and easier for companies already listed on certain international exchange to obtain a secondary listing on the local bourse.
The new fast track listing process allows international companies, who have already been admitted to certain other major stock exchanges for a period of at least 18 months, to secondary list on AltX or the JSE’s Main Board. The following exchanges are accredited by the JSE for the fast track listing process:
• Australia Stock Exchange
• London Stock Exchange
• New York Stock Exchange (NYSE) and NYSE Euronext
• Toronto Stock Exchange
Companies listed on the above exchanges and making use of the fast track listing process do not need to produce a prelisting statement and, instead, will only release a prelisting announcement. This announcement contains certain disclosure items pursuant to the Listings Requirements and details of the actual listing on the JSE, which is then read in conjunction with the company’s latest published information (including its annual report) which has been prepared in accordance with the requirements of the exchange where it has a primary listing. The fast track listing process seeks to significantly reduce the time it takes to attain a secondary listing on the JSE.
“The streamlined process means that a secondary listing on the JSE gives companies the opportunity to access South Africa’s deep pools of capital at a lower cost by eliminating a second round of administrative preparation for listing,” says Donna Oosthuyse, Director: Capital Markets at the JSE.
JSE launched the first currency futures which track the exchange rate between the Rand and select African currencies.
The JSE listed three new currency futures contracts which track the exchange rate between the Rand and the Zambian Kwacha, Kenyan Shilling and Nigerian Naira. Currency futures allow investors as well as importers and exporters to protect themselves against the currency movement in the foreign country.
The International Organization of Securities Commissions (IOSCO) today published a research note on Market-Based Long-Term Financing Solutions for SMEs and Infrastructure. The note is a compilation of recent examples of capital market solutions in developed and emerging markets that have contributed to the financing of small and medium enterprises (SME) and infrastructure projects.
The research note was prepared for the G20 Finance Ministers and Central Bank Governors. It describes innovative structures and products in equity capital markets, debt capital markets, securitization and pooled investment vehicles that provide practical solutions to broadly recognized challenges for financing of SMEs and infrastructure projects.