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.
Deutsche Börse has joined the United Nations' Sustainable Stock Exchanges initiative (SSE). The aim of the initiative, founded by the UN Secretary-General in 2009, is to increase exchange-listed companies' transparency and commitment to environmental, social and corporate governance issues and to make the capital market more aware of these issues.
Singapore Exchange (SGX) acquired the remaining 51% of Singapore-based Energy Market Company (EMC) from the Energy Market Authority (EMA), making EMC a wholly-owned subsidiary of SGX.
This acquisition will allow EMC to leverage SGX’s expertise and operational synergies to provide better services to market participants at more competitive rates. For a start, wholesale electricity market participants will benefit from two percent savings in market fees over the next three years.
Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, announced that it has successfully completed the transition of the Liffe London soft commodity futures and options contracts to ICE Futures Europe. These products are now listed on the ICE trading platform, which is also home to the ICE Futures U.S. soft commodity futures and options that include Sugar 11, Cocoa, Coffee, Cotton and Frozen Concentrated Orange Juice contracts. For the first time, global soft commodities contracts are available for trading side by side on the same widely distributed, feature rich trading platform.
The Stock Exchange of Thailand (SET) will list IMPACT Growth Real Estate Investment Trust (REIT) worth THB 15.71 billion (approx. USD 491 million) on its main board on October 1, under the ticker “IMPACT”.
SET Executive Vice President Chanitr Charnchainarong said that IMPACT, the first REIT in the Thai capital market, would list and start trading on the Thai bourse’s Property Fund & REITs sector. Being listed as REITs, the firm could invest in more various properties than typical property fund, while the REITs could also boost investment choices for investors and funding opportunities for entrepreneurs.
IMPACT offered 1,482.50 million units via an initial public offering (IPO) at THB 10.60 per unit during September 8-19, with total value of THB 15.71 billion. IMPACT is managed by RMI Co., Ltd., a subsidiary of IMPACT Exhibition Management Co., Ltd. Kasikorn Asset Management Co., Ltd. is the trustee and Maybank Kim Eng Securities (Thailand) pcl is the financial advisor and one of the underwriters, together with Kasikornbank pcl and Kasikorn Securities pcl.
TMX Group Limited today announced that it has selected Lou Eccleston to lead the organization as its Chief Executive Officer (CEO). Mr. Eccleston, who will assume the role effective November 3, 2014*, will also become a member of the TMX Group Limited Board of Directors.
Mr. Eccleston brings to TMX Group more than 30 years of extensive experience gained in senior leadership roles in the information services, financial technology and capital market services sectors. Most recently, he was President, S&P Capital IQ and Chairman of the Board, S&P Dow Jones Indices, which are business lines of McGraw Hill Financial. He was with that organization for 6 years. Previously, Mr. Eccleston was at Thomson Financial for 4 years in the roles of President of Global Sales, Marketing & Services and President of the Banking and Brokerage Group. Mr. Eccleston was at Bloomberg LP for 14 years, where he held a number of roles including chief executive of Bloomberg Tradebook for 6 years. He also served as Chairman and CEO of Pivot Inc., a capital market software services company.