CME Group announced that they have entered into definitive agreements to create value for their respective stockholder through a two-step transaction through which CME Group will acquire Trayport and FENICS. This transaction, which has been approved by the Board of Directors of GFI Group upon unanimous recommendation of a Special Committee comprised solely of independent and disinterested directors, and by the Board of Directors of CME Group, is expected to create significant stockholder value for both GFI Group and CME Group stockholders and to qualify as tax-free exchanges of equity for both groups. The transaction is subject to the approval of the stockholders of GFI Group as well as customary regulatory review and approvals. It is expected that the transaction will close in early 2015.
The WFE Sustainability Working Group (SWG), which includes representatives from 19 WFE member exchanges from around the world, convenes regularly to discuss material concerns and share best practices related to sustainability. The group works under the auspices (and with the assistance) of the WFE, focusing on the needs of the exchange business. It is an internal discussion group, not a forum for the debate of investor proposals, reporting frameworks, or the work of NGOs and other advocates. Although the SWG is keenly aware of these dynamics, it will not engage, endorse, or promote any outside group or agency during the course of its work.
Instead, the SWG investigates the material need (if any) for exchanges to seek, standardize, and/or publish environmental, social, and corporate governance (ESG) data. Through careful analysis of existing data forms and reporting frameworks, group members seek to understand the real impacts, both positive and negative, on our business. Furthermore, the SWG will reflect upon the role of exchanges in the formation and sustenance of a fair, open, and transparent economy—and the proper leverage that exchanges may exert in promoting more sustainable business models.
We hope our work proves productive and enlightening enough to be offered to the general membership of the WFE for consideration in due course.
Evan Harvey, Chairman
Corli le Roux, Vice Chair
The Global Reporting Initiative (GRI) has published its latest sustainability reporting guidelines-G4 in 2013 for diverse organizations to disclose their sustainability issues among economic, environmental and social aspects.
Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that Liffe reached a daily volume record of 205,570 contracts in MSCI World Net Total Return (NTR) Euro Index futures on June 11, 2014. The previous record of 197,264 contracts was set on March 14, 2014.
Singapore Exchange (SGX) is consulting the public on its proposed regulatory framework for secondary listed companies on the exchange.
The Central Securities Depository (DCV) along with Santiago Stock Exchange have extended the guarantee custody processes in foreign securities, which brokerage houses can use as collateral for future trades, short sales and share loans, amongst other transactions.
The Johannesburg Stock Exchange (JSE) recently launched new services to its listed companies and other issuers. The range of services will help companies identify prospective investors, build profile and communicate with existing investors and the market.
The Johannesburg Stock Exchange (JSE) successfully launched its colocation centre in May to allow JSE clients to place their trading equipment in the JSE data centre for the fastest access to all JSE markets.
CBOE Futures Exchange(SM) (CFE®) confirmed that it will extend trading hours for CBOE Volatility Index®(VIX® Index) futures to nearly 24 hours a day, five days a week, starting Sunday, June 22nd.
The trading week for VIX futures at CFE will begin each Sunday at 5:00 p.m. CT and end on Friday at 3:15 p.m. CT. CFE will close for 15 minutes between 3:15 p.m. CT and 3:30 p.m. CT, Monday through Thursday, after which the next trading day will begin at 3:30 p.m. CT.
Montréal Exchange Inc. (MX), Canada's derivatives exchange, announced the introduction of a new future product based on the performance of the FTSE Emerging Markets Index. Scheduled to begin trading on June 13, 2014, the FTSE Emerging Markets Index Futures (MX-EMF) are targeted at a wide range of market participants seeking exposure to emerging markets for hedging, asset allocation, speculative and arbitrage purposes.