Platforms

ASX-SGX: why the combination is in Australia’s national interest

http://www.asxgroup.com.au/media/PDFs/20101206_ASX_SGX__AccessReport.pdf

Access is an economic consultancy (these days part of Deloitte) that hires itself out to anyone who wants an ‘independent’ economic research report to strengthen their case. And Access isn't shy about taking sides on major public debates.

There was its intervention, paid for by the Distilled Spirits Council of Australia, in the alcopops debate, labelled "as dodgy as a three-day-old kebab" by Nicola Roxon. Then there was its pro-industry efforts to sway the debate over carbon pricing – for the Australian Industry Greenhouse Network and the states – and its work for the big miners over the RSPT (on both the industry's current tax rate and the apocalyptic consequences of the RSPT), just to name a few.

http://www.businessspectator.com.au/bs.nsf/Article/Access-Economics-budget-forecasts-Deloitte-Austral-pd20111107-ND5F4?OpenDocument&src=pmm

11–250AD ASIC confirms ASX readiness to launch PureMatch
ASIC today confirmed it is satisfied that the ASX, prospective participants and data vendors are ready for ASX’s new order book, PureMatch, to commence operating from 28 November 2011.

PureMatch is an alternative order book that will operate in parallel to ASX TradeMatch, the primary existing ASX order book through which trading in ASX takes place. PureMatch will provide an alternative mechanism for trading of the most liquid cash market products which are traded on ASX’s TradeMatch.

http://www.asic.gov.au/asic/asic.nsf/byHeadline/11%E2%80%93250AD%20ASIC%20confirms%20ASX%20readiness%20to%20launch%20PureMatch?opendocument

New Equity Trading Venue Inserts Speed Bump

With the PDQ trading platform, an order is paused for a set period of time – 20 milliseconds — and in that time liquidity can be aggregated through an electronic crowd competing for orders, says Ross, who is a former options traders on the CBOE and also the former CEO of GETCO

“Institutions are annoyed with the high frequency trading guys, as they feel they are being gamed, while the HFT firms are concerned that institutions have better fundamental information in the short term,” he says. HFT shops that post first in the lit markets are subject to “adverse selection” by the institutions, he claims.

While PDQ’s electronic equity venue pauses the auction, it collects responses from the algorithmic liquidity responders and creates an order book based on price/time priority and then it executes the order against the book. The pause also enables PDQ to from a book with more size and better prices, contends Ross.

http://www.wallstreetandtech.com/electronic-trading/231902698?cid=nl_wallstreettech_daily

DB, NYSE Preparing Concessions for Europe's Regulators

NYSE Euronext and Deutsche Boerse have begun working on concessions to present to European regulators, after talks over the last two days with the European Union’s competition commission.
The two days of meetings “failed to alleviate antitrust regulators’ concerns about the $7 billion deal,’’ Bloomberg reported Thursday afternoon.
The European Union has set a November 17 deadline for proposing remedies.

http://www.securitiestechnologymonitor.com/news/deutsche-boerse-nyse-euronext-concessions-eu-29536-1.html?ET=securitiesindustry:e3017:171544a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=STM_BNA_08302010_111011

VARDY RESIGNS FROM PLUS MARKETS

Plus Markets chairman Giles Vardy has stepped down following a shareholder-led revolt to forcibly oust him from the role Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23150

LSE SIGNS DELHI STOCK EXCHANGE TO MILLENNIUMIT PLATFORM The Delhi Stock Exchange (DSE) has signed for equity, derivatives, FX trading and clearing technology from the LSE's MillenniumIT unit.

Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23148

In addition, Hirander Misra, the former Chi-X Europe COO who over the summer quit Algo Technologies, the fintech vendor he helped set up, is in the frame to lead a revamped DSE, says the FT.

EUROPEAN ENERGY EXCHANGE SELECTS TRAYPORT GLOBALVISION

http://www.finextra.com/news/announcement.aspx?pressreleaseid=41909

Osaka Securities Exchange denies TSE-OSE merger reports

http://atmonitor.co.uk/news/newsview.aspx?title=osaka-securities-exchange-denies-tse-ose-merger-reports

HKEx Publishes its 2011 Third Quarter Results

http://www.hkex.com.hk/eng/newsconsul/hkexnews/2011/Documents/111111news.pdf

Clearing

EMCF CLEARS ONE BILLIONTH EQUITY TRANSACTION

http://www.finextra.com/news/announcement.aspx?pressreleaseid=41934

BM&FBOVESPA TAPS CINNOBER FOR CLEARING OVERHAUL Brazilian exchange operator BM&FBovespa has licensed technology from Swedish vendor Cinnober for a major revamp of its clearing operations.

Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23142