The exchange sector up 450 bps, underperforming global equities by 320 bps

April 13, 2015 10:26 AM

This week: 

  • The exchange sector was up 450 bps, underperforming global equities by 320 bps.

  • Chicago Mercantile Exchange stated that it has “no plans” to seek a ruling that would allow the group to corner the market for invoice spread trades, although dealers still remain concerned, reported.

  • BATS Exchange CEO and President Chris Concannon stated that the company was planning to file a proposal to SEC that would require thinly-traded stocks to trade only at the exchange where they are publicly listed, the Wall Street Journal reported.

  • NASDAQ OMX Group and Keefe, Bruyette & Woods will form a partnership to expand access to indexes and ETFs with more than $770m in licensed assets under management, the Wall Street Journal reported. Financial terms of the deal were not provided.

  • Hong Kong Stock Exchange CEO Charles Li expects the exchange to “substantially increase” quotas for the stock connect program between Hong Kong and Shanghai, Reuters reported. No precise date was given for when the quotas would be raised. 

  • Japan Exchange Group: Tokyo Stock Exchange 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 Australian Securities Exchange 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.”

  • LCH.Clearnet launched clearing of inflation swaps through its SwapClear service, making it the first Central Counterparty Clearing House to clear inflation-linked swaps. 

  • Deutsche Boerse AG: Eurex Clearing will begin clearing inflation swaps this summer, pending regulatory approval, the Futures & Options World magazine reported. 

  • Chicago Mercantile Exchange Clearing Europe expects to gain regulatory approval this year to clear inflation swaps, the Futures & Options World magazine reported.

  • Intercontinental Exchange: New York Stock Exchange 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. 

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