Monthly Archives: October 2011

Chi-X Australia makes low-key debut

Chi-X Australia handled nearly A$4m of trades on its low-key debut as Australia’s first alternative venue for trading domestic equities. The platform remains in “soft launch mode”, with just 800 trades in eight securities through 22 brokers, according to the company. It will consider offering the full S&P 200 index after monitoring its trading, clearing and settlement processes for two…

Technical glitch halts Australian trading

Trading on the Australian Stock Exchange was halted for four hours on Thursday due to a technical glitch, leaving traders unable to react to news of a European agreement on Greek debt that was sparking rallies in other markets around Asia. The outage came just a few days before the ASX will face its first major competition, with alternative equities…

Vietnam eyes merger of two exchanges

Vietnam is working on a plan to merge its two stock exchanges in a sign that some countries are starting to believe that having a single bourse is needed to ensure the survival of their capital market infrastructure as mega-exchanges span the globe. Tran Duc Sinh, chief executive of the Ho Chi Minh Stock Exchange, set up only a decade…

Nasdaq OMX in deal with Chile’s BEC

Nasdaq OMX will explore creating a Chilean peso-dollar derivatives contract after striking a deal with the Bolsa Electronica de Chile (BEC) to provide technology and advisory services to the Latin American exchange. Nasdaq OMX will advise BEC on the cross-listing of shares, aid the development of new indices and consider ways to create a peso-dollar futures contract for trading on…

Mifid II proposals: early reaction

A round-up of the initial reactions from market participants to the publication of the proposals to update the Mifid directive governing European financial markets The European Commission on Thursday unveiled a series of wide-ranging and tough measures designed to shake-up financial markets, crack down on high frequency trading and extend its regulation of the equities, commodities and vast off-exchange derivatives…

Five financial firms invest in Chi-X Global

Five global trading and securities firms have bought a minority stake in Chi-X Global, the alternative trading platform operator, in a move that underscores the growing expectations for market fragmentation in Asia. BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, Getco – the electronic market-making firm – and its rival Quantlab Financial, have all invested in the company to buy a…

Emerging market bourses in Brics deal

Six of the world’s largest emerging markets exchanges on Wednesday unveiled an alliance in an unprecedented arrangement that aims to capture investor interest in leading emerging markets in each other’s markets at a time when exchanges globally have been consolidating. Under the alliance Hong Kong Exchanges and Clearing, BM&FBovespa of Brazil, the National Stock Exchange of India, the Bombay Stock…

HKEx plays down LME bid prospects

Hong Kong Exchanges and Clearing (HKEx) has played down the prospect that it may bid for the London Metal Exchange, saying that while it had considered a bid, the world’s largest exchange group was concentrating on its China business. Asked if HKEx was one of more than 10 exchanges and other entities that the LME has said have expressed interest…

Chi-X Australia moves to undercut ASX

Chi-X Australia announced on Tuesday that it would launch an aggressive pricing strategy aimed at undercutting the Australian Stock Exchange and likely to attract high-frequency trading firms. The start-up venue, set to launch on October 31, will use a so-called “maker taker” model, which its sister company Chi-X Europe has used to help it become the largest pan-European share trading…

BarCap plans Japanese dark pool

Barclays Capital, the UK broker, is planning to introduce a “dark pool” to Japan, looking to follow rivals and expand its operations into Asia’s largest equity market. The broker, about to serve a 10-day ban from Japanese markets for a trading error, may not introduce the platform for a year, although it is likely to tailor the platform used for…