Japan Exchange Group, Inc. (JPX) announced that subsidiaries Tokyo Stock Exchange, Inc. and Osaka Exchange, Inc. will open representative offices in Hong Kong's Central business district on November 1, 2014. The joint launch will make Hong Kong the fifth city covered by the corporate group's network of overseas offices that currently spans New York, London, Singapore, and Beijing.
Hong Kong is one of the world's leading international financial centers, with a number of Asian headquarters of international securities companies and asset management companies, as well as global hedge funds. Recognizing that establishing a presence in the city is of prime importance in attracting order flow toward Japan from investors located in Asia, the representative offices in Hong Kong will seek to further raise the profile and appeal of the Japanese market in the region.
NanoSpeed, the provider of ultra-fast FPGA solutions to the trading community, released its latest Nano-Risk FPGA for the CME. With a latency of sub 60 nanoseconds the product is the new benchmark for fastest pre-trade risk checks. Nano-Risk is fully compliant with CFTC’s Concept Release on Risk Controls and System Safeguards for Automated Trading, SEC’s 15C3-5 regulation and ESMA’s guidelines on automated trading.
Nasdaq (Nasdaq:NDAQ) and Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding (MOU) at the World Federation of Exchanges' annual General Assembly to strengthen cooperation and promote mutual development between the two exchange companies. SZSE's Chairman, as well as Nasdaq's Vice Chairman Sandy Frucher and Executive Vice President and Head of Market Technology Lars Ottersgård were present at the signing ceremony.
On November 3, SIX Swiss Exchange will launch the Sponsored Foreign Shares trading segment in which international blue chip equities can be traded. Renell Wertpapierhandelsbank AG and ICF BANK AG Wertpapierhandelsbank will act as the first sponsors and thus as market makers.
The Sponsored Foreign Shares trading segment on SIX Swiss Exchange will allow for more than 500 equities from 27 different countries to be traded. The broadly diversified clientele of SIX Swiss Exchange will thus have the opportunity to trade equities of the most important firms from the US, Germany, France, Japan and other countries directly on the Swiss stock exchange and in Swiss francs. The first two sponsors are Renell Wertpapierhandelsbank AG and ICF BANK AG Wertpapierhandelsbank.
The two sponsors can request approval from SIX Exchange Regulation for the trading of foreign equities with a primary listing on a recognized foreign stock exchange. At the same time, the sponsors undertake to comply with the reporting and maintenance requirements and to guarantee market making activities during the SIX Swiss Exchange trading hours. The admission of the securities takes place without issuer involvement and no obligations arise for them.
From 3 November, Yandex ordinary shares (YNDX) will be added to the Equity Market Making program, having been admitted to trading with partial collateral from 13 October.
The premium rate paid to market makers for entering quotes doubling to 1.5 bps from 3 November. The target of changes is to stimulate liquidity in the most liquid shares, including those for which the tick size methodology was changed from 1 October.
The Market Making program was developed, and is now being improved, with the active involvement of investors. Participation is open to any market participant.
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.