Platforms

 

Australian Exchange: Component Failed on Primary, Backup Systems

The Australian Securities Exchange said an electronic component involved in broadcasting market messages failed on its primary and backup trading systems, leading to its four-hour outage on October 27.

http://www.securitiestechnologymonitor.com/news/asx-component-failed-october-27-outage-29548-1.html?ET=securitiesindustry:e3029:171544a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=SIN_DailyClose__111411

Initial ASX Circular on outage:

https://www.asxonline.com/intradoc-cgi/groups/trading_and_market_information/documents/communications/asx_031961.pdf

 

ASX Ltd. says it will begin offering transactions in the $1 trillion Australian managed funds market on April 15 next year.

http://www.iandtnews.com.au/homepage-featured-posts/asx-to-offer-managed-funds

 

Aussie Fragmentation.

http://fragmentation.fidessa.com/australia/

 

DEUTSCHE BÖRSE AND NYSE EURONEXT TO SHED BUSINESSES TO WIN EU APPROVAL FOR MERGER

Deutsche Börse and Nyse Euronext are proposing to divest their overlapping equity options business across Europe and open up third party access to Eurex Clearing in an effort to win EU approval for their $9 billion merger deal.

They have also agreed to grant unprecedented third-party access to Eurex Clearing for interest rate and equity index derivatives on a "fair, reasonable and non-discriminatory basis" and include cross margining.

More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23176

 

Shanghai exchange is ready to let foreign issuers sell shares
The Shanghai Stock Exchange is prepared to allow foreign companies to list on the second-largest equity market in the world. Trading in foreign companies' shares should start "as soon as possible when the time is ripe", said Xu Ming, an executive at the exchange. "The internationalisation of the securities market will benefit the whole nation and overseas companies are highly motivated." Bloomberg (14 Nov.)

 

EGYPTIAN EXCHANGE LAUNCHES NEW TRADING PLATFORM

http://www.finextra.com/news/announcement.aspx?pressreleaseid=42042

 

 

 

Clearing

 

LSE makes approach for MF's LCH stake

MF Global owns just under 2% of LCH, and administrators at KPMG are looking for a quick sale of the stake as they look to recoup significant proceeds from the broking firm.

The LSE's offer, possibly available at the same price as its EUR21-a-share bid for 51% of LCH, may be designed to prevent the stake falling into the hands of a counterbidder for the clearing house.

http://www.marketwatch.com/story/lse-makes-approach-for-mfs-lch-stake-report-2011-11-14

 

BM&FBOVESPA SELECTS CALYPSO TO REGISTER AND CLEAR OTC DERIVATIVESS

http://www.finextra.com/news/announcement.aspx?pressreleaseid=42046

 

LCH.CLEARNET BEGINS CLEARING FOR TURQUOISE

http://www.finextra.com/news/announcement.aspx?pressreleaseid=42045

 

Consultation Paper on HKEx Clearing House Risk Management Reform Measures

http://www.hkex.com.hk/eng/newsconsul/mktconsul/marketconsultation.htm

73 page paper here:

http://www.hkex.com.hk/eng/newsconsul/mktconsul/Documents/cp201107.pdf

 

Consultation paper on the proposed regulatory regime for the over-the-counter derivatives market in Hong Kong

 

The Hong Kong Monetary Authority (the "HKMA") and Securities and Futures Commission (the "SFC") invite market participants and interested parties to submit written comments on the Consultation paper on the proposed regulatory regime for the over-the-counter derivatives market in Hong Kong (available as Acrobat PDF file) on or before 30 November 2011.

https://www.sfc.hk/sfcConsultation/EN/sfcConsultMainServlet?name=OTCReg

55 page paper at:

https://www.sfc.hk/sfcConsultation/EN/sfcConsultFileServlet?name=otcreg&type=1&docno=1

 

'Swapbox' Clears Short Positions in Greek Bonds

Euroclear Bank has created a “swapbox” based on algorithms which pair off short positions in Greek government bonds with long positions of the same value.

http://www.securitiestechnologymonitor.com/news/euroclear-debt-crisis-swapbox-greek-bonds-29551-1.html?ET=securitiesindustry:e3029:171544a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=SIN_DailyClose__111411

 

 

Policy

Central banks accelerate gold purchases
Central banks more than doubled their purchases of gold in the third quarter compared with the previous quarter, when gold buying was already inflated, according to the World Gold Council. "Central-bank buying was a highlight of the quarter. Statistics this year have been remarkable," said Marcus Grubb, the council's managing director of investment. The Wall Street Journal (tiered subscription model) (18 Nov.), Financial Times (tiered subscription model) (17 Nov.)

11–255MR ASIC proposals for research houses

ASIC today released a consultation paper proposing research report providers, including research houses, separate their business units as a strategy to manage conflicts of interest as part of moves to improve confidence in the independence and quality of research reports.
This proposed segregation would involve strict and formal physical and electronic separation between ancillary business units such as consulting and funds management services and the research business.

http://www.asic.gov.au/asic/asic.nsf/byHeadline/11%E2%80%93255MR%20ASIC%20proposals%20for%20research%20houses?opendocument