The NASDAQ OMX Group (Nasdaq:NDAQ) announced that it intends to propose detailed rules to modify existing rules surrounding "stub" quotes within the Nasdaq Stock Market's market-maker and select market-maker programs to more effectively serve market participants, investors and listed companies. The decision is in response to some of the market events that occurred on May 6th that led to the use of "stub" quotes being executed against due to liquidity that was absorbed by selling pressure.
Oslo Børs VPS / Oslo Clearing successfully launched a central counterparty (CCP) for clearing of trades in five selected shares listed on Oslo Børs on Friday. This represents a “soft launch” of a CCP for equities prior to the launch of CCP clearing for all equities, equity certificates and ETFs traded on Oslo Børs and Oslo Axess. This is planned to take place on 18 June.
New trading modes involving a central party and based on preliminary partial deposition of funds and T+n settlements (the “MICEX +” project) were launched in the MICEX stock market on 15 February, 2010. The new trading modes were added to the existing ones. The MICEX acts as the central counterparty (CC) for all transactions conducted in the new modes.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced that it will deliver an ultra low latency trading platform to Singapore Exchange (SGX). The new trading platform, named SGX Reach, will be powered by NASDAQ OMX's Genium INET, the fastest trading technology in the world. SGX's migration to the new trading platform will commence with cash equities in 2011.
In line with the imminent end of the listed companies fulfillment of NILEX listing rules which permits the trading of the company's shares, EGX management - after a series of successful mock sessions with more than 2,300 transactions in which all the listed brokers have participated- will commence the trading in the small and mid cap companies market starting Thursday 3rd of June. This is a step to allow the companies listed on NILEX to complete the offering of 10% of its shares in accordance with NILEX listing rules. In addition EGX asked the companies listed on NILEX to submit its disclosure reports to commence trading of its stocks according to the rules organizing the capital markets. The disclosure report should include the company's basic information, its area of activity, current investments, board members and their shares in addition to the financial situation of the company. Moreover, the Egyptian Exchange will publish the disclosure reports on the trading screens to allow all the investors to know the companies' financial status.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced that it has received the necessary regulatory approval for the completion of its acquisition of Nord Pool ASA.
Investors can use HTS programs developed by the Korea Exchange (KRX) member securities and derivatives companies for the trading of KOSPI 200 Futures on CME’s Globex from June 7, 2010. Currently investors are only allowed to use GTS, a HTS program specially designed for the KRX USG which connects KRX, its members and Globex system.
KVH Co. Ltd., a leader in IT and Communications in Japan announced that “KVH Proximity Hosting Service” had been selected by the Osaka Securities Exchange (OSE) as the connectivity service for the new OSE Derivatives Trading System. With this selection from the OSE, KVH will be the underlying service provider for “OSE Proximity,” a connectivity environment within KVH’s Tokyo Data Center dedicated to High-Frequency Trading*1 for OSE trading members.
Mr. Charamporn Jotikasthira will start his term as The Stock Exchange of Thailand (SET)'s eleventh president on June 1, 2010, with a four-year term ending May 31, 2014.
RTS Stock Exchange has launched a new benchmark index for Siberian-based companies – the RTS Siberia Index. This is the first regional stock index to be launched within Russia and is in cooperation with the Inter-regional Association for Economic Cooperation of Subjects of the Russian Federation "Siberian Agreement".