NO 245 – JULY 2013

WFE Focus
New services

BM&FBOVESPA implements new trading hours

On 8 July 2013, BM&FBOVESPA implemented new trading hours. Main changes include the adoption of a uniform, countrywide timetable for trading in each segment, effective throughout the year (equities: from 10:00 to 18:00; derivatives: from 9:00 to 18:00). The change also includes the adoption of a single timetable for closing price determination and stock index calculations.

Deutsche Börse to launch marketplace for cloud computing resources

Deutsche Börse will launch a trading venue for outsourced storage and computing capacity, so called "cloud computing" resources, in the beginning of 2014 named Deutsche Börse Cloud Exchange AG. It will be a new joint venture formed together with Berlin-based Zimory to create the first neutral, secure and transparent trading venue for "cloud computing" resources.

Johannesburg Stock Exchange rolls out on-line portal for market data

The Johannesburg Stock Exchange has rolled out a new web-based portal called Nova through which JSE market data clients can report their monthly usage of JSE data direct to the exchange. The new system allows market data clients to log on to Nova to view JSE data products that their company subscribes to as well as historical usage figures. This assists with risk management of monthly reporting for clients while reducing administration and complexity.

Moscow Exchange extends list of T+2 eligible securities

On 8 July 2013, Moscow Exchange launched the next stage of T+2 implementation on its securities market by extending the list of eligible shares from 15 to 50 names. All other shares traded on the Moscow Exchange will migrate to T+2 on 2 September 2013.

Moscow Exchange to launch precious metals trading

On 26 June 2013, Moscow Exchange launched its project of a precious metals market. It is expected that the Exchange will launch trading in gold and silver with prices in rubles by the end of 2013. NCC, the clearing arm of the Moscow Exchange Group, will ensure settlement of trades.

NASDAQ OMX Commodities launches pre-trade risk management service for commodities

NASDAQ OMX launched the pre-trade risk management service for commodities effected through Genium INET PRM. The system was developed by FTEN, a NASDAQ OMX company and a provider of pre-trade and at-trade risk management technology. This service facilitates real time pre-trade protection to mitigate erroneous orders and transactions.

NASDAQ OMX provides Scottish government with mobile newsroom

The NASDAQ OMX Group announced that the Scottish Government has launched a new newsroom which is accessible across a wide range of mobile devices. The Scottish Government is the first government to use NASDAQ OMX's Corporate Solutions.

NYSE Euronext establishes NYSE Governance Council

The New York Stock Exchange formed the NYSE Governance Council to facilitate an open dialog between publicly-held companies and the NYSE on the rapidly evolving and increasingly complex corporate governance landscape. The Council will serve as an advisory board to the NYSE on corporate governance issues and is comprised of leading subject matter experts in governance from the publicly-held company community. The formation of the NYSE Governance Council follows the recent introduction of NYSE Governance Services.

NYSE Euronext introduces EnterNext in Amsterdam and Brussels

On 3 July 2013, NYSE Euronext launched EnterNext, its initiative for small and medium-sized companies recently launched on the French market, on NYSE Euronext Amsterdam and NYSE Euronext Brussels. EnterNext was developed to provide financing solutions which are geared to the financing needs of local SMEs that are active regionally, nationally and internationally. EnterNext focuses on companies which are listed on its European markets and which have a market capitalization of less than EUR 1 bn. It already covers over 750 SMEs listed on the regulated market of NYSE Euronext and on NYSE Alternext. For the Dutch market, it concerns 77 listed companies and 115 in Brussels.

NYSE Euronext subsidiary to become new administrator of LIBOR

NYSE Euronext Rate Administration, a subsidiary of NYSE Euronext, announced that following a rigorous selection process conducted by the independent Hogg Tendering Advisory Committee, NYSE Euronext Rate Administration has been appointed as the new administrator for LIBOR. The transfer of the administration from BBA LIBOR, the subsidiary of the British Bankers' Association, is expected to be completed in early 2014, once the Financial Conduct Authority's authorization of NYSE Euronext Rate Administration is complete.

Saudi Stock Market – Tadawul adapts trading days to new weekend rule

The Saudi Stock Market – Tadawul changed its trading days to the news Saudi work week. From 30 June 2013, the trading is effected from Sunday through Thursday. This is line with the work week other 5 other states: Kuwait, Bahrain, Qatar, UAE and Oman. The new weekend on Friday, Saturday was implemented through a royal decree.

Shanghai Stock Exchange launches e-interaction platform

On 5 July 2013, the Shanghai Stock Exchange launched its e-interaction platform. It is a communication platform aimed at facilitating communication between investors and listed companies, available to all market participants for free. It will not only facilitate the "zero-gap" contact between listed companies and investors, but also provide an innovative "foothold" for the SSE's market-oriented regulation.

Shanghai Stock Exchange launches "Direct Channel" for information disclosure

On 1 July 2013, the Shanghai Stock Exchange opened its "Direct Channel" for listed companies information disclosure where SSE-listed companies can register announcements and directly submit them to the Exchange's website and other designated media through the SSE electronic information disclosure system.

SIX Financial Information to launch portfolio risk management system

SIX Financial Information partnered with swissQuant Group to develop a joint project to support the wealth management industry with enhanced risk compliance. The new offering called ImpaQt is a sophisticated portfolio risk management system that feeds high quality data from SIX Financial Information's reference data universe and market data history into swissQuant's proprietary, high-speed calculation engine to provide on demand quantitative risk analyses of client portfolios as well as portfolio based on pre-trade suitability simulations. The system addresses the demand for in-depth, objective analysis of instrument and portfolio risk, while meeting regulatory standards for client protection, pre-trade suitability and risk education. ImpaQt ensures compliance with national and international laws and regulations. The service will be available as of October 2013.

TMX Group enhances risk management

TMX Group's technology business, TMX Technology Solutions, and Numerix, the provider of cross-asset analytics for derivatives valuations and risk management, announced a collaborative partnership agreement. TMX Group's Razor Risk technology, a fully integrated enterprise risk management product, will leverage Numerix's comprehensive library of industry standard, market tested risk and pricing models within its solutions for credit and market risks and economic capital management. Together, Razor Risk with Numerix analytics will provide additional support to clients with highly complex derivatives, and enable accurate risk management across the enterprise.