April 15th 2013

Public Markets

Warsaw, Vienna stock exchanges confirm tie-up talks

http://www.emergingmarkets.org

The two stock exchanges, the biggest in Central and Eastern Europe, are in talks about a possible merger or other form of cooperation

The Warsaw Stock Exchange and the Vienna-based CEE Stock Exchange group are in preliminary talks for a possible merger or other form of cooperation, the CEE Stock Exchange said in a statement.

“In light of recent market information, Warsaw Stock Exchange (WSE) and CEESEG AG (CEESEG) confirm that they have started preliminary discussions with a view to considering potential ways of cooperation strengthening,” the statement said.

“At this stage all strategic options and cooperation routes are being reviewed,” it added.

Philippines – Merger of stock, bond exchanges looms

Inquirer.net

The unification of the Philippines’ stock and fixed-income exchanges is finally taking shape as the two bourses, with much prodding from financial regulators, have agreed to restart discussions with the aim of formalizing an engagement within a 90-day period.

The Philippine Stock Exchange and the Philippine Dealing System Holdings Corp. (PDS Group) are back in “serious” talks and this time, their leaders have committed to the government that they would come up with a workable framework and sign a memorandum of understanding (MOU) within 90 days, several sources privy to the discussions confirmed to the Philippine Daily Inquirer.

Bursa Malaysia Berhad : Bursa Malaysia Derivatives Branching Initiative Takes Off With The First Futures-Only Branch Office In Johor Bahru

4-traders (press release)

Bursa Malaysia Derivatives Berhad (Bursa Malaysia Derivatives) today announced that their futures broking branching initiative will soon be operationalised through the establishment of the first futures-only branch office by one of their futures brokers, Phillip Futures Sdn Bhd, on 18 April 2013.

This initiative is to enable futures brokers, particularly the standalone brokers (futures brokers who are not investment banks, universal brokers or 1+1 brokers), to expand their business reach by setting up branch offices and trading kiosks in various locations in Malaysia apart from their existing principal office. Futures brokers will be able to better serve their existing clients and to provide more access points to attract new clients to trade on Bursa Malaysia Derivatives, thus, paving the way for greater retail participation in the derivatives market.

Products

ICE says it will launch 35 new futures contracts on April 29

Reuters

Exchange and clearing house operatorIntercontinentalExchange Inc said on Friday it plans to launch 35 new energy, environmental, freight and ferrous metal contracts on April 29.

The new contracts include global crude oil, gasoline, middle distillate,natural gas liquid, natural gas, power, environmental, freight and iron orefutures and options products, ICE said.

Private Markets

CVC considers takeover bid for Betfair: reports

Reuters India

Shares in Betfair, an online gambling exchange, have climbed this year on the back of takeover speculation, but the stock is still trading at almost half the group’s 2010 listing price. The stock closed on Friday at 699.5 pence, valuing the company at …

Bloomberg futures exchange ‘one of several options’

The Trade News

Bloomberg today qualified its earlier announcement that it would set up a futures exchange if the Commodity Futures Trading Commission (CFTC) failed to amend an “arbitrary and capricious” rule it says penalises OTC swaps at the expense of futures trades.
The rule imposes a five-day minimum liquidation time for OTC swaps and a one-day minimum liquidation time for futures. It comes ahead of new rules on swap execution facilities (SEF) expected within months.
A new exchange is one of a number of options it was considering if the regulator refuses to back down. “[We are] considering creating a futures exchange if we perceive a market opportunity, but at this time we have not formalised any plans,” a spokesman said today.

India – Universal Commodity Exchange to kick off ops on April 19

Economic Times

MUMBAI: The Universal Commodity Exchange (UCX), promoted by listed software company Commex Technology, will commence operations next Friday, two people aware of the development, said. With the launch, UCX will become the country’s sixth commex.

Angola Plans 6th-Biggest Africa Bourse With Value at 10% of GDP

Businessweek

Angola, Africa’s second-biggest oil producer, expects its stock exchange to have a market value of 10 percent of gross domestic product within 18 months of its startup, making it at least the continent’s sixth biggest.
The capitalization of the exchange, which is set to start in 2015, would be a minimum of $11 billion based on last year’s output of $114 billion, Archer Mangueira, president of the Capital Markets Commission, said in an interview on April 10 in Luanda, the capital. South Africa’s bourse is the continent’s largest at $842 billion, more than double its GDP.

Bitcoin investors turn to derivatives markets to bet on the bubble …

By Cyrus Farivar

Bitcoin’s biggest asset is also its biggest liability — no government or regulator controls what people are willing to pay for a little piece of nearly-anonymous computer code. That fact may partially explain why the price of one bitcoin has shot up in recent days and weeks, only to come crashing down again on Wednesday.
On Thursday, Bitcoin’s largest exchange, Mt. Gox, suddenly suspended trading for 12 hours as part of what it described as a “market cooldown”. That pause was set to end at 3:00am on Friday morning.

Appointments

Index groups form new association

Pensions & Investments

Mr. Redding, who was a managing director of products and services for CME Group, will be based in New York but will represent the group in Washington, Brussels and London on policy matters related to indexes, exchange-traded funds and other issues.

Other stories

State Street electronic FX chief departs in shake-up

Reuters

On Friday, State Street said Jeff Conway would oversee a global exchange group that included electronic FX trading, data analytics and derivatives clearing. Lewis was not mentioned in the reorganization announcement. He did not return messages seeking …

Crowdfunding

US Leads World In Burgeoning Crowdfunding Trend

Forbes

Research firm Massolution released last Monday a crowdfunding industry report based on its research into 582 firms. 2013CF The Crowdfunding Industry Report estimates that crowdfundingsites globally will reach close to $5.1 billion in transactions for …

Crowdfunding is the new financier

Brantford Expositor

To ensure fair and equitable rules for all, the National Crowdfunding Association of Canada (http://www.ncfacanada.org) has been formed to not only to make sure all angles are covered but also to provide a resource for those interested in the …

Crowdfunding Expected to Double in 2013

Small Business Trends

Crowdfunding has proven to be an effective way for small businesses to generate revenue, and the trend is expected to double that success in the next year. According to the Crowdfunding Industry Report from MassSolution, campaigns raised at least $2.7 …

Risks in crowd funding

Business Standard

Crowd funding is not new to India although it is at a nascent stage. The idea became noticed after filmmaker Onir raised part of the funds for his film I Am through this route. “And, in 1976, Shyam Benegal collected Rs 2 lakh from 500,000 farmers to …

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