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  • Bank Of England - Financial Stability Paper 34: The Resilience Of Financial Market Liquidity - Niki Anderson, Lewis Webber, Joseph Noss, Daniel Beale And Liam Crowley-Reidy

    Date 30/10/2015

    Financial markets have been affected by a number of structural changes over the past few years.  Innovation has generated a broad trend towards fast, electronic trading.  And necessary regulation implemented in response to the global financial crisis to ensure the safety and soundness of core intermediaries has discouraged them from market making as principal – though this may also reflect greater risk aversion on their part.  These developments, alongside occasional bursts of volatility associated with short-term illiquidity, have led to concerns that market liquidity may have become more fragile.  Although episodes of heightened volatility and short-term illiquidity are not necessarily in themselves threats to financial stability, they could become so if they were to persist, amplify or spill over.  This paper draws out common lessons from such episodes.  Overall, the ‘normal’ level of liquidity in markets that are less reliant on core intermediaries appears to have increased – but in some cases to the detriment of resilience.  In contrast, the ‘normal’ level of liquidity in markets that are more reliant on core intermediaries appears to have fallen – but with a likely increase in the resilience of those markets via the resilience of the core intermediaries themselves.  This is consistent with recent episodes of volatility and illiquidity having centred on fast, electronic markets, including exchange-traded venues.

  • CBOE Holdings Reports Record Results For Third Quarter

    Date 30/10/2015

    Third-Quarter 2015 Financial Highlights

    • Trading Volume Increases 6 Percent, With Record Trading Volume in Index Options and Futures
    • Operating Revenue Increases 26 Percent to $187.0 Million
    • GAAP Net Income Allocated to Common Stockholders Increases 40 Percent to $67.2 Million; Diluted EPS of $0.81, Up 42 Percent
    • Adjusted Net Income Allocated to Common Stockholders Rose 31 Percent to $63.0 Million; Adjusted Diluted EPS of $0.76, Up 33 Percent(1)
    • GAAP Operating Margin of 54.1 Percent Compared With 50.4 Percent, Up 370 Basis Points 

  • Improved Financial Results Of Warsaw Stock Exchange (GPW) In Q3 2015 Despite A Challenging Market Environment

    Date 30/10/2015

    • Net profit increased by 11.6% QoQ and EBITDA increased by 12.1% QoQ in Q3 2015 despite a challenging market environment
    • Consistently pursued business strategy helped to grow revenue to PLN 78.7 million (+2.0% QoQ) and to maintain the cost discipline and reduce operating expenses by 3.8% QoQ

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  • HKEx: Report On Initial Public Offering Applications, Delisting And Suspensions

    Date 30/10/2015

    (As at 30 October 2015)

  • Chaiyawat Wibulswasdi Elected Thai Bourse's New Chairman

    Date 30/10/2015

    The Stock Exchange of Thailand (SET)’s board of governors has appointed Chaiyawat Wibulswasdi, as the exchange's 16th chairman, effective from October 30, 2015 onwards.