June 04 2013

elb2A frantic day today as we prepare for Young Markets sponsored by Cinnober & Titanic Quarter Financial Services Centre.If you’re not here, there’s still time to watch the action as a virtual delegate online at http://youngmarkets.com.

Meanwhile shareholders say yes to ICE-NYX and a series of new markets, new segments and other opportunities abound across the board… Fascinating times indeed!

Public Markets

IntercontinentalExchange Stockholders Approve Acquisition Of NYSE Euronext

NYSE Euronext Shareholders Approve Acquisition by IntercontinentalExchange (subscription)

Wall Street Journal

PLY: Note that executive compensation had a sligthly lower acceptance than various other measures At NYX while overall the shareholders have accepted the vision of Jeff’s Brave New World. Good thinking on the part of shareholders too, he is the man who delivers.

Nasdaq OMX Announces Proposed Senior Notes Offering

Euro-denominated senior notes due 2021 with intent to use the net proceeds from the offering, together with cash on hand and/or revolving borrowings to fund the eSpeed platform etc.

Moscow Exchange Supporting Merger of Ukrainian Stock Exchanges

Ukrainian Journal

PLY: With de facto control of one already, Moscow is now looking to create a merged entity which will presumably feed into the sort of dynamic exchange Ukraine needs and which would serve effectively the bulk of the old USSR for capital…

WSE Looks To International Growth

Warsaw Business Journal

The Warsaw Stock Exchange wants to expand its international presence, the bourse’s CEO Adam Maciejewski told Puls Biznesu in an interview.

LCH.Clearnet Launches US Clearing Service (subscription)

Financial Times

PLY: I can well recall Phil Bruce in his then position as Deputy CEO of LCH discussing the idea of some form of Trans-Atlantic clearing facility during the @Markets conference in Boston when FIA briefly flirted with the dotcom bubble…

Head of Options Clearing Corp. to Retire

Crain’s Chicago Business (blog)

The OCC commences a search for a replacement to Wayne Luthringhausen and may split Chairman and CEO roles in two following the CBOE’s recent move in the same direction…

NASDAQ OMX Completes Acquisition of Thomson Reuters IR, PR and Multimedia Businesses

NASDAQ

Private Markets

Shenzhen to Let Small Firms Issue Exchangeable Bonds – IFR

Reuters

The Shenzhen Stock Exchange (SSE) is planning a trial programme to allow small- to medium-sized enterprises (SMEs) to issue private exchangeable bonds..

New Zambian Derivatives Exchange

african.howzit.msn.com/

Bond and Derivatives exchange of Zambia will open for simulated trading June 12 ahead of live trading from July 11.

Changes in investors/shareholders

NYSE Euronext Plans to Sell Stake in MCX

Economic Times

NYSE Euronext is considering a fresh bid to sell its 4.79% stake in India’s premier commodity bourse MCX, after an earlier attempt failed in March this year.

The stake is currently valued at over Rs 200 crore (USD 35,3 mln).

Products

Eris Exchange Reduces Contract Size to $100k

Advanced Trading

The notional size of the Eris swap futures contracts were modified by a factor of 10 in response to user demand from buy side firms.

Indexes

CBOE and CME Team Up to Launch US Treasury ‘VIX’

ETF Strategy

The Chicago Board Options Exchange (CBOE) has teamed up with the CME Group (CME) to launch the CBOE/CBOT 10-year US Treasury Note Volatility Index (VXTNY).

Crowdfunding

Three Professors Share Crowdfunding Research

Forbes

Serious academic research in the nascent field of crowdfunding is limited, but Gordon Burtch of the University of Minnesota, Anindya Ghose of New York University and Sunil Wattal of Temple University have recently published their study of contribution patterns in crowdfunding.

Other stories

Turkey: More Derivatives On the Way

Oxford Business Group

A discussion of the series of shotgun marriages which have delivered derivatives capacity from TurkDex as ell as the Istandbul Gold Exchange to the Turkish exchange..

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