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PHLX Announces Settlement Agreement

Date 18/05/2000

Meyer (Sandy) Frucher, Chairman and CEO of the Philadelphia Stock Exchange, Inc. (PHLX), announced today that the Exchange has entered into a settlement agreement with representatives of the plaintiffs in the consolidated class action lawsuits that were instituted last year against the PHLX, the other options exchanges and other defendants alleging antitrust violations in connection with the listing of options. The settlement, which was executed as of May 4, 2000, was not announced previously be
ParisBourse Revamps Monthly Settlement Market

Date 18/05/2000

Starting September 22, 2000, trading in all shares listed on French markets (Premier Marché, Second Marché, Nouveau Marché and Marché Libre) will shift to a cash-settlement basis. Recommended by two task forces, the move simplifies structures while bringing the French market into line with international practice. France is currently the only country to have retained a monthly settlement procedure.
Osaka Mercantile Exchange RSS3 Futures And Rubber Index Futures Monthly Report

Date 18/05/2000

On April 3, OME RSS3 went lower on long-liquidation due to the yen's sharp rise to the 102 yen level against the dollar. Distant month fell to 80.7 yen, down 0.9 yen from the previous day's close. Later, there was the lull in the yen's upward trend on the intervention by the Bank of Japan in the currency market. Also, the prices at Singapore Commodity Exchange (SICOM) went firmer reflecting the tightness in supplies of raw materials in Malaysia and Thailand due to the wintering season and to the
Osaka Mercantile Exchange Aluminium Futures Monthly Report

Date 18/05/2000

On April 3, OME Aluminium futures opened lower on bears $B!G (B selling and long-liquidation due to the easier tone in LME Aluminium futures and to the yen's rise to the 102 yen level against the dollar. Distant month fell to 162.4, down 2.5 yen from the previous month's level. On April 5, distant month declined further to 161.5 yen on distressed selling by longs in line with the sharp drop in LME Aluminium on the news of a major hedge fund's shut down. Later, OME prices fluctuated within a na
Closure Of Kuala Lumpur Stock Exchange

Date 18/05/2000

The Kuala Lumpur Stock Exchange (KLSE) wishes to announce that the Exchange and its subsidiaries will be closed on Thursday, 18 May 2000 in conjunction with the Wesak Day holiday. The Exchange and its subsidiaries will commence operations on Friday, 19 May 2000.

Statement From The London Metal Exchange - 10,000th LMEX Lot Traded

Date 17/05/2000

Yesterday, the 10,000th lot of the LME's new base metals index contract, LMEX, was traded. Commenting on this total, David King, LME Chief Executive said:
New York Mercantile Exchange And 15 Traders File Class Action Suit Against New York Board Of Trade, New York Clearing Corp., And Klein & Co. To Block Use Of Third Party Customer Funds

Date 17/05/2000

The New York Mercantile Exchange and 15 of its members today filed a class action complaint and is seeking a temporary restraining order and injunctive relief to block the New York Board of Trade(NYBOT), New York Clearing Corp. (NYCC), and Klein & Co. Futures, Inc., from using innocent, third party customer funds to meet margin obligations on the NYBOT.
London Stock Exchange Report On Technical Breakdown

Date 17/05/2000

A full investigation has now been completed into the causes of the technical problems experienced by the London Stock Exchange on 5 April when the market opened at 3.45 p.m.
iX-international Exchanges And The Euro

Date 17/05/2000

In evidence to the Treasury Select Committee today, Don Cruickshank, Chairman-designate of iX-international exchanges - to be created by the prospective merger of the London Stock Exchange and Deutsche Börse - confirmed its policy with regard to the quotation of shares in euro and sterling.
HKFE Panel Sees Three-month HIBOR Easing

Date 17/05/2000

The Hong Kong Futures Exchange's (HKFE) panel of forecasters from 10 banks predicts that with the demand for interbank funds likely to weaken, the three-month HIBOR (Hong Kong interbank offered rate) will be lower on 17 July 2000 compared to its level on 15 May 2000. The panel also sees one-month HIBOR easing between now and mid-July 2000. Both forecasts appear in the latest edition of the HKFE's "HIBOR Futures Market Update" newsletter, published yesterday.