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Kroes warns exchanges not to hamper post-Mifid platform
The European Union’s antitrust regulator yesterday warned stock exchanges that they must not prevent new trading platforms from emerging under the Markets in Financial Instruments Directive (Mifid).
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ABN Amro lists five commodity-linked certificates in Italy
Dutch Investment bank ABN Amro has launched five certificates in Italy tied to the new Club Commodity Index (Commin Index). Thanks to an exclusivity deal with the index provider, ABN Amro is the only bank to offer exposure to the index.
Clearing houses may face greater competition
David Hardy, former chief executive of London-based clearing house LCH.Clearnet, warned that clearing houses may face greater competition if they don’t lower fees and provide more services. Speaking to RiskNews at the Futures and Options Expo in Chicago,…
Emirates joins jet fuel futures working group
Dubai-based airline Emirates has joined the working group set up by the Dubai Mercantile Exchange (DME) and ENOC Supply & Trading to explore the development of the first physically delivered jet fuel futures contract.
UK financial firms face £1 billlion start-up bill for Mifid
UK-based financial services firms could face a £1 billion bill for implementing the Markets in Financial Instruments Directive (Mifid), the UK’s Financial Services Authority (FSA) estimates.
Hefes nominated to equalise Euronext board
French financier Sylvain Hefes has been nominated by Euronext to the future board of NYSE Euronext, to equalise the number of American and European directors.
Isda praises letter to Geithner on equity derivatives
The International Swaps and Derivatives Assocation (Isda) has said it “applauds and supports” a letter from 17 investment banks to Timothy Geithner, president of the Federal Reserve Bank of New York, which commits them to improving the efficiency of the…
Credit market front-running needs tackling, says Broadman
Front-running in the credit derivatives markets needs to be tackled, said Bart Broadman, founder and head of Singapore-based hedge fund Alphadyne Asset Management. Speaking at the second annual Asia Risk conference in Hong Kong on Monday November 20, he…
Quadrant acquires Ecensity
Quadrant's purchase signals a move to become a global player.
Oman obtains 30% share in Dubai Mercantile Exchange
The Sultanate of Oman’s Ministry of Finance has reached an agreement to acquire a 30% equity stake in the Dubai Mercantile Exchange (DME), the Middle East’s first energy futures exchange.
Nymex in record IPO
The New York Mercantile Exchange (Nymex) has enjoyed a record-breaking stock market debut for its initial public offering.
Energen increases 2007 natural gas, liquids hedge
US-based Energen Corporation, owner of gas exploration and production company Energen Resources Corporation (ERC), has increased its natural gas and gas-to-liquids hedging position for 2007, the company announced.
Second time unlucky for Nasdaq as London Stock Exchange rejects bid
The London Stock Exchange (LSE) has rejected an offer from New York-based stock exchange Nasdaq to buy the company for 1,243 pence a share in cash, on the grounds that the bid “substantially undervalues” the company.
Equiduct Challenges Project Boat
LONDON—Although Project Boat has been recently hailed as the answer to one of the key Mifid reforms to come on Nov. 1, 2007, the initiative is facing challenges from the newly created Equiduct as well as from other exchanges mulling their own offers.