June 05 2013

elb2Public Markets

Nasdaq MX Prices EUR 600,000,000 Senior Notes Offering

NDAQ) priced a public offering of €600,000,000 aggregate principal amount of Euro-denominated 3.875% senior notes due 2021.

LME Clear And LCH.Clearnet Agree Migration Date For LME Clearing Services

LME & LCH.Clearnet have reached an agreement to migrate LME contracts currently cleared by LCH.Clearnet to LME Clear on 22 September 2014, in order to give members and the market time to implement new EMIR regulations and to better manage an already busy period of change in the market.

Private Markets

India – NCDEX liberalizes Algo norms to attract more participation

Business Standard

Faced with a drastic decline in business, the National Commodity& Derivatives Exchange (NCDEX), India’s largest agri – centric commodity derivatives trading platform, has liberalized its algo trading norm to catch traders’ active interest in this segment.

As per the revised norm, the exchange has waived annual recurring charge for the first three ATS ID subscribers of each member of the exchange platform. While the fourth member onwards, the exchange would charge Rs 50,000 as annual recurring charge from each subscriber to algo / high frequency trade service. Other charges continue to remain unchanged.

Technology

TT latest tech firm to back Eris Exchange (subscription)

Futures and Options Intelligence

The global derivatives trading software provider said it is now connected to the Eris SwapBook, allowing TT’s X_TRADER users access to the US-based swap futures exchange.

Appointments

OMX Appoints New President For NASDAQ OMX Stockholm And Head Of Nordic Fixed Income And NASDAQ OMX Baltics

The Nasdaq OMX Group, Inc. (NASDAQ: NDAQ) today announced that Magnus Billing has been appointed President of NASDAQ OMX Stockholm.

Magnus Billing has been with NASDAQ OMX for the last 12 years, and since 2008 as Senior Vice President and Chief Legal Counsel Europe.

Financial Calendar

IntercontinentalExchange Sets Date of August 6 for Second Quarter 2013 Earnings Announcement

ICE, will announce second quarter 2013 financial results on Tuesday, August 6, 2013. An earnings press release will be issued prior to the earnings conference call, which will begin at 8:30 a.m. ET.

Crowdfunding

Crowdfunding for Nonprofits: Experimentation Mandatory

The Nonprofit Quarterly

The sharp upswing in crowdfunding, which is nothing more than old-fashioned networking to attract resources amped up by the Internet, is fueled by the poor economy and credit crunch. In 2011, over 450 crowdfunding websites generated $1.5 billion in wide-ranging investments from private business equity to arts patronage and charitable donations. Last year, crowdfunding websites raised $2.7 billion worldwide from individuals—an 81% increase in one year. And that amount is expected to nearly double again, growing to $5.1 million in 2013. North America is currently the epicenter of crowdfunding, accounting for over 60% of global activity.

Other stories

Israel seeks new stock market ideas to keep high-tech firms and talent

Reuters

Israel’s stock market must find ways to attract more high tech companies, to prevent foreign firms from swooping on unlisted start-ups and making off with the country’s talent, a government panel urged on Tuesday.

After Silicon Valley, Israel is widely considered the world’s second-largest high-tech centre – but not one of its estimated 5,000 start-ups went for an initial public offering (IPO) last year. By contrast, 66 high tech Israeli companies were bought for around $10 billion in total.

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