Hong Kong Exchanges and Clearing Limited (HKEx) announced that it received regulatory approval for rule changes that will enable it to offer After-Hours Futures Trading (AHFT) and it plans to introduce AHFT on Monday, 8 April 2013.
From 8 April, Hang Seng Index and H-shares Index futures will be available for trading from 5 pm to 11 pm (after-hours trading) in addition to the regular trading sessions: 9:15 am to 12 noon and 1 pm to 4:15 pm. Gold futures will be considered for inclusion in AHFT at a later stage.
- London Stock Exchange publishes rulebook for new segment of the Main Market for high growth companies
- Issuers required to meet free float, market value and growth conditions
- Will act as stepping stone for companies seeking full listing
TMX Group Limited announced that it has entered into an agreement with Equity Financial Holdings Inc. (Equity) to acquire its transfer agent and corporate trust services business. The acquisition marks TMX Group’s expansion into a highly- complementary business area with both immediate scale and significant opportunities for growth.
Clearstream will launch its direct settlement link to the Russian market following the opening of a main account at the National Settlement Depository (NSD), the new Russian CSD, in February 2013. The move follows months of progress through technical, legal and regulatory steps in close cooperation with the NSD. The new direct link to the Russian CSD will complement Clearstream’s existing settlement services by further opening up access to the Russian capital markets via an efficient channel and offering a single access point, the Russian CSD. Leveraging its extensive post-trade infrastructure, Clearstream will offer a robust multi-channel access to the new Russian CSD via both its central securities depository (CSD) and its international central securities depository (ICSD).
London Stock Exchange Group (LSEG) announced that it has acquired a 67% stake in GATElab, an Italian and UK based technology company supplying advanced trading and post trade services technology around the world.
The international derivatives marketplace Eurex Exchange announced that the U.S. Treasury will publish a revenue ruling in which it designates Eurex as a “Qualified Board or Exchange” for purposes of section 1256 of the U.S. Internal Revenue code. This ruling, effective for all contracts entered on or after 1 March 2013, means that U.S. persons that trade on Eurex Exchange may receive ‘60/40 tax treatment’ in the same way when trading at other U.S. futures exchanges.
The Exchange intends to cease operating New York Block Exchange (“NYBX”), effective February 28, 2013, and as such, proposes to contemporaneously delete the text of Rule 1600, which governs NYBX’s functionality.
On 11 March 2013, the international derivatives market Eurex Exchange will introduce a new interest rate future, the Mid-Term Euro-OAT Future, which is based on notional medium-term bonds issued by the Republic of France (“Obligations Assimilables du Trésor” – OAT). Together with the long-term Euro-OAT Futures which were introduced in April 2012, the contract complements the existing segment and offers market participants an efficient and cost-effective hedging instrument which enables the hedging of risks and basis trading in the mid-term maturities range of the French yield curve.
ASX welcomes announcement by the Deputy Prime Minister and Treasurer, the Hon Wayne Swan, which retains the current market structure for clearing and settlement of cash equities, and requests ASX to put in place a Code of Practice for Clearing and Settlement of Cash Equities in Australia.
Fourth Quarter Financial Highlights
- Operating Revenues Increase 8 Percent to $130.1 Million
- GAAP Net Income Allocated to Common Stockholders Increases 25 Percent to $39.2 Million; Diluted EPS Up 29 Percent to $0.45
- GAAP Operating Margin of 45.9 Percent; Adjusted Operating Margin of 49.9 Percent, Up 300 Basis Points(1)
2012 Full-Year Financial Highlights
- Operating Revenues of $512.3 Million Increases 1 Percent(1)
- GAAP Net Income Allocated to Common Stockholders Increases 14 Percent to $155.3 Million; Diluted EPS Up 17 Percent to $1.78
- GAAP Operating Margin of 47.6 Percent; Adjusted Operating Margin of 48.7 Percent, Up 30 Basis Points