Nasdaq and SGX establish collaborative listings agreement

October 19, 2017 12:10 PM
Exchange Shorts
LSE CEO, Xavier Rolet, to step down by end of Dec-2018. The Board is now initiating a process to find a successor.
 
LSE reported 3Q17 total income of £486m (+17% y/y) and revenues of £443m (+18% y/y), with Info Services at £182m, LCH at £114m and Capital Markets at £97m.
 
NDAQ and SGX signed a collaborative agreement to leverage their strengths as two of the leading listings venues in the U.S. and Asia respectively. The new agreement seeks to enhance the channels available for companies to access capital market funding and enhance their corporate profile in both markets.
 
CME and JPX launched Japanese Yen-denominated Tokyo Stock Price Index (TOPIX) futures contracts that will begin trading on CME by 1Q2018.
 
NDAQ, CBOE, ICE and DB1’s Eurex CEOs believe regulators went too far after the financial crisis and choked off liquidity, according to FOW.com
 
ICE CEO expects resistance in LIBOR replacement push with overnight rates as uses of LIBOR are not addressed. Reported by Risk.net.
 
LSE: LCH clears first Swiss Franc (CHF) interest rate swaps referencing SARON, the Swiss average overnight rate. Migration to new Swiss reference rate comes ahead of discontinuation of TOIS on 29 December 2017; Basler Kantonalbank, Credit Suisse and Zuercher Kantonalbank were among the first members to clear using the new rate.
 
LSE: compression services provider Quantile completed its first round of compression trades at LCH.
 
ENX appointed Franck Silvent as a member of the Supervisory Board.
 
TMX may delist stocks of marijuana companies with interests in the United States.
 
Trading Technologies entered an agreement with Societe Generale to make the TT trading platform globally available to Societe Generale’s institutional trading client base.
 
VIRT CEO Doug Cifu “Current rules restrict issuers from directing incentives to the products that need the most support,” including small, liquid ETFs, according to Bloomberg. Cifu called to allow issuers to pay their lead market makers directly and disclose the arrangement.
 
European Commission has adopted an equivalence decision for the CFTC’s margin framework for uncleared derivatives. At the same time, the CFTC concluded that the EU margin rules are comparable to the CFTC rules. This means EU firms may rely on substituted compliance with EU margin rules to meet CFTC requirements.
 
SEC would not object if brokerage houses break out the cost of research for their European clients to comply with MiFID II, rather than bundling it together with other services, Bloomberg 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 mariano@erdesk.com.