Platforms

EU ANTI-CHIEFS PREPARE TO TORPEDO DEUTSCHE BÖRSE/NYSE MERGER
Anti-trust officials in the EU are prepared to block the proposed mega-merger between Deutsche Börse and the New York Stock Exchange over fears that the deal would stifle competition in the derivatives markets.
More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23303

BLOOMBERG: TMX Group Gains Share of Canada Trading as Alpha Declines
TMX Group Inc. (X) extended its control of the Canadian market for equities trading in December after taking market share from bank-owned Alpha Group and other alternative trading platforms.
TMX, the Toronto Stock Exchange owner that’s facing a C$3.73 billion ($3.66 billion) takeover bid from a group of Canadian banks and pension funds, had 71 percent of the market across its three venues last month, up from 65 percent in November, according to monthly statistics from the Investment Industry Regulatory Organization of Canada.
http://www.bloomberg.com/news/2012-01-16/tmx-group-gains-share-of-canada-trading-as-alpha-declines.html

BLOOMBERG: Japanese Regulator May Lower Barriers to Alternative Trading
“The FSA are rightly thinking about liquidity from the perspective of the end-investor,” said Jessica Morrison, head of Asia Pacific market structure for Deutsche Bank in Hong Kong. “Making liquidity on alternate venues sufficiently accessible to all market participants, in order to provide best execution, is an important and worthwhile priority to pursue.”
Regulatory impediments are hampering growth on Japan’s newer venues, Morrison said. For example, investors are required to make a takeover bid if they acquire more than 5 percent of a company through off-exchange transactions with more than 10 shareholders, she said. No such rule exists for shares bought on the main bourses.
“If you wanted to put PTS on equal footing with the exchanges, you’d have to get rid of the 5 percent rule,” Sadakazu Osaki, head of research at Nomura Research Institute Ltd
http://www.businessweek.com/news/2012-01-17/japanese-regulator-may-lower-barriers-to-alternative-trading.html

Chi-X determined to make inroads
Attempting to head off the new competition, the ASX in November unveiled a similar low-cost trading platform, PureMatch. It has had little success so far, attracting no volume since it launched. An ASX spokeswoman said volume was not expected until later in the year, after its new data centre was operating and it had more time to better target brokers.
http://www.theaustralian.com.au/business/markets/chi-x-determined-to-make-inroads-in-stockmarkets/story-e6frg916-1226247778385

VEGA-CHI SETS 7 FEBRUARY LAUNCH DATE FOR BOND TRADING MTF
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42655

NZX COMPLETES SALE OF CARBON REGISTRY TO MARKIT
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42646

ASX TECHNOLOGY CHIEF STEPS DOWN
The ASX said today group executive for technology Jeff Olsson “has decided to leave” the company, with his departure date set for July.
"Unfortunately, you don't always make the right decisions over the course of time, so you can get burdened with some bad decisions or technology that was good at the time but has now aged," Mr Fowler said.
"That's not a reflection upon the current CTO -- it's just a question of scale and age. I have some sympathy for them."
http://www.smh.com.au/business/asx-technology-chief-steps-down-20120111-1puu6.html#ixzz1ji8Rc3TI

SIX SWISS EXCHANGE GLITCH DELAYS TRADING SIX Swiss Exchange has been forced to delay the start of trading by three hours because of a "technical problem".
Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23315

HKEx and CFFEX (China Financial Futures Exchange) sign MOU
http://www.hkex.com.hk/eng/newsconsul/hkexnews/2012/120111news.htm

Market Statistics 2011
http://www.hkex.com.hk/eng/newsconsul/hkexnews/2012/documents/120119news.pdf

ISRAELI HACKERS TARGET ARAB STOCK EXCHANGE SITES AS CYBERWAR ESCALATES
Israeli hackers have targeted the Web sites of stock exchanges in Saudi Arabia and Abu Dhabi in retaliation for an attack earlier this week on the Tel Aviv bourse.
More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23329

CABLE&WIRELESS AND EQUINIX TEAM ON CLOUD-BASED SERVICES
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42637

ERIS EXCHANGE TO DISTRIBUTE MARKET DATA THROUGH CME
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42734

FOLLOWING SCANDAL, PIPELINE TRADING SYSTEMS CHANGES NAME TO ARITAS SECURITIES http://www.finextra.com/news/announcement.aspx?pressreleaseid=42720


CLEARING

ISDA SETS OUT GOALS FOR INDUSTRY CLEARING COMMITTEE
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42625

FSB ESTABLISHES LEI AND CCP WORKING GROUPS The BIS-backed Financial Stability Board has set up a working group to deliver concrete recommendations on governance issues relating to the management of new Legal Entity Identifiers (LEI) in the global securities markets.
Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23306

Interoperable MTFs primed for market share growth
http://www.thetradenews.com/news/Regions/Europe/Interoperable_MTFs_primed_for_market_share_growth.aspx

OTC clearing - margin methodologies
two articles that may be useful in understanding the technical aspects of clearing CDS and IRS. One-time registration required for access.
CDS clearing at ICE
http://www.futuresindustry-digital.com/futuresindustry/201111#pg33
IRS clearing at LCH.Clearnet
http://www.futuresindustry-digital.com/futuresindustry/201111#pg36
*** Thanks to Will Acworth on LinkedIn

CLS APPOINTS FOUR NEW BOARD MEMBERS
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42728



POLICY

NYSE EURONEXT LAUNCHES EU REGULATORY POLICY WEB SITE
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42622

I think this is the web site...that’s not mentioned in the press release???
http://corporate.nyx.com/fr/who-we-are/advocacy/eupolicy


REGULATORS DEMAND ACTION ON LEGAL ENTITY IDENTIFIERS
International regulatory authorities have called for the urgent creation of a universal Legal Entity Identifier (LEI) in their final report on the OTC derivatives data that should be collected, stored and disseminated by trade repositories (TRs).
More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23323

World Bank Global Economic Prospects
Developing countries should prepare for further downside risks, as Euro Area debt problems and weakening growth in several big emerging economies are dimming global growth prospects, says the World Bank in the newly-released Global Economic Prospects (GEP)
http://web.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTDECPROSPECTS/EXTGBLPROSPECTS/0,,menuPK:615470~pagePK:64218926~piPK:64218953~theSitePK:612501,00.html


PARTICIPANTS

ROYAL BANK OF SCOTLAND REORGANISATION - FULL STATEMENT
We are considering sale or closure options for our cash equities, corporate broking, equity capital markets, and mergers and acquisitions businesses which had income of c£220 million in the nine months to September 2011 and are currently unprofitable. We are in discussions with a number of potential buyers though there is no assurance of a sale concluding. We took this decision because we want to prioritise our resources on those businesses where we are best with customers and can operate most profitably for shareholders.
http://hereisthecity.com/2012/01/12/royal-bank-of-scotland-reorganisation-full-statement/


J.P. Morgan WSS posts $971 million revenue in Q4 2011
J.P. Morgan Worldwide Securities Services (WSS) net revenue was $971 million, an increase of 1 per cent compared with the year previous
http://www.assetservicingtimes.com/assetservicesnews/article.php?article_id=2881

BNY Mellon to snap up Penson's Australian ops
Penson Worldwide has announced the sale of its Australian subsidiary to BNY Mellon for some $32 million
http://www.assetservicingtimes.com/assetservicesnews/article.php?article_id=2807

LIME BROKERAGE BOASTS NANOSECOND LATENCY FOR PRE-TRADE RISK MANAGEMENT
http://www.finextra.com/news/announcement.aspx?pressreleaseid=42739