Technology glitch interrupts electronic trading platform

April 6, 2015 10:26 AM
Exchange Shorts

ICENYSE Arca stated that it “inadvertently” sent out regulatory halts in around 160 exchange-traded funds and notes last Tuesday after a technology glitch interrupted trading on the electronic trading platform, Reuters reported. 

BVMF3 received an assessment notice from the Brazilian Tax Authority questioning the amortization for tax purposes in the fiscal years of 2010 and 2011 of the goodwill that resulted from the Bovespa acquisition in May 2008, totaling R$1.45 billion related to income tax and R$524 million related to social contribution, which in both cases include a 75% fine and interest. BVMF3 will challenge the assessment notice and reaffirmed its position that the goodwill was regularly created. BVMF3 will continue to amortize the goodwill for fiscal purposes.

JPX: TSE President Akira Kiyota will succeed Atsushi Saito as CEO of JPX, the Japan Times reported. Saito will retire after two years as head of JPX.

Chi-X Australia proposed to Australian regulators for ASX Clear and ASX Settlement to be split off into independent units with their own boards and staff. In its submission to the Council of Financial Regulators, “sometimes the self-interest of a self-regulated monopoly provider does not serve the public interest and external regulation is required.”

ASX will cooperate with the Australian Energy Market Operator to launch natural gas futures, with trading starting on Tuesday. According to ASX Deputy CEO Peter Hiom, “ASX is committed to supporting the development of Australia’s energy markets… our new futures products help gas industry participants manager their forward price risk and will provide greater price transparency.”

India’s Finance Ministry official stated that the merger of SEBI and the Forward Markets Commission will clear the way for commodity exchanges to trade currency derivatives, although the exchanges will need to gain approval from regulators.  

India aims to charge almost 100 foreign funds as much as $6 billion for “untaxed gains” in Indian markets, the Economic Times reported.

About the Author

Bernardo Mariano brings to ERDesk his experience structuring private deals for the acquisition of mutual exchanges. Prior to joining ERDesk Bernardo worked as a Director for Instinet and later, CEO of Reuters' Bondex. He holds an MS in Economics from University of Illinois and an MIA in Finance from Columbia University. He can be reaced at be reached at