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Date 09/06/1999

London Stock Exchange Transaction Survey Shows Foreign Investment Increasing

London's equity market is attracting more foreign investors - with the biggest increase coming from US institutions trading European equities - according to figures released by the London Stock Exchange on June 9. The survey of London Stock Exchange Transactions shows that the proportion of deals in UK stocks conducted on behalf of foreign clients rose to 36 per cent (by value) in November 1998 from 20 per cent in 1996.
Date 09/06/1999

GEM offers unique attractions to Silicon Valley companies

The Growth Enterprise Market, GEM, offers some unique opportunities to Silicon Valley companies, according to Alec Tsui, Chief Executive of the Stock Exchange of Hong Kong. Mr Tsui was speaking on Tuesday, June 8 at the Hong Kong Night in San Francisco, California. The conference was organised by the Hong Kong Economic and Trade Office in San Francisco and the Hong Kong Industrial Technology Centre. He stressed that GEM was not a second tier market, or a training market where companies could pre
Date 08/06/1999

ASX and SFE Merger Proposal unaffected by CLERP timetable

Australian Stock Exchange Limited's (ASX) proposal to merge with the Sydney Futures Exchange (SFE) is not in any way subject to the implementation of legislative reform under the Corporate Law Economic Reform Program 6 ("CLERP 6") or any other package of CLERP reforms. Regardless of CLERP 6, the ASX/SFE merger proposal would deliver short and medium term cost savings to market participants resulting from: a single derivatives platform; common clearing and systems processing (from mid 2000); cros
Date 07/06/1999

Pacific Exchange Names Philip D. DeFeo New CEO - Philip D. DeFeo joined West Coast Mart June 7

The Pacific Exchange (PCX) has named Philip D. DeFeo as its Chief Executive Officer and Chairman of the Executive Committee. Robert M. Greber will remain Chairman of the PCX Board of Governors. DeFeo is a seasoned executive with broad experience in domestic and international financial markets. Most recently, he was President and CEO of Van Eck Associates Group, a diversified global mutual fund and brokerage company specializing in alternative asset classes. Prior to joining Van Eck, he was Exec
Date 07/06/1999

OM to Create First Independent Power Exchange in Britain

OM, the exchange operator and supplier of trading technology, today announced that it would create a new spot market (Power Exchange) for the trading of electricity in Britain. The Review of Electricity Trading Arrangements (RETA) programme being run by Offer, the electricity market regulator, has expressed an interest in market operators providing a power exchange for the trading of short-term physical electricity once the Electricity Pool of England and Wales is dissolved. The Pool is expected

Date 07/06/1999

Euro GLOBEX alliance extended to French and Spanish long-term contracts

The cross-trading agreement concluded on 26 June 1998 by French and Spanish derivatives markets within the framework of the Euro GLOBEX® alliance has now been fully implemented, with all products traded by each member market added on. Starting last week, members of MEFF Renta Fija and Matif will thus have direct on-screen access to trading in Matif's 10-year Euro Notional future and MEFF Renta Fija's 10-year Bono future respectively. The first stage of intermarket linkage started in February, wh
Date 06/06/1999

Botswana Stock Exchange Market Commentary

The market rose strongly and the index ended up 1.8% gain for the week. Volumes were thinly spread across counters, most activity was in Sechaba, which firmed 5t to P5.20 on over 1.1 million shares. BIHL reclaimed its all-time high of P10.15 on 10,973 shares, a rise of 15t. MRIB was the only other gainer of the week closing 3t higher at P1.63 on rather thin volume of only 200 shares. All other stocks traded at the previous week's closing levels.Total volume for the week was 1,144,363 shares valu
Date 05/06/1999

Minneapolis Wheat Posts Record Daily Trading Volume

Hard red spring wheat futures, traded at the Minneapolis Grain Exchange since 1883, posted record trading volume on June 3. A total of 11,243 contracts exchanged hands, the equivalent of 56,215,000 bushels of wheat. The previous daily record, established on August 12, 1998, was 10,713 contracts. July spring wheat rallied 12 3/4 cents per bushel over the past 4 trading days, closing up 7 1/4 cent at the close of trade June 3rd at USD3.37 3/4 per bushel. "Funds were active covering short positions
Date 05/06/1999

Eurex Posts Records in Turnover on Wednesday June 2

Eurex posted a record daily turnover on Wednesday June 2 of 2,627,634 contracts which surpassed the previous best of 2,243,220 contracts posted on March 4, 1999. 1,935,624 futures and 1,935,624 contracts were traded on Wednesday. The BUND, BOBL and SHAZ futures contracts posted record volumes of 1,233,568, 439,463 and 143,553 contracts respectively beating previous records of 932,939 (May 6, 1999), 309,812 (May 19, 1999) and 122,273 (May 14, 1999).
Date 04/06/1999

The New York Stock Exchange Defers Off-Hours Trading Until Second Half 2000

The New York Stock Exchange will defer the implementation of off-hours trading until the second half of 2000, at the earliest, according to NYSE chairman and chief executive officer, Richard A. Grasso. "Very clearly, equities have become a global instrument and extended trading hours will one day be a reality," Mr. Grasso said. "It is equally clear that the introduction of longer hours must be coupled with consumer protection and public trust and confidence in the integrity of the marketplace