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  • FINRA Hearing Officer Expels Pinnacle Partners Financial Corp. And Bars President For Fraud

    Date 25/04/2012

    A Financial Industry Regulatory Authority (FINRA) hearing officer has expelled Pinnacle Partners Financial, Corp., a broker-dealer based in San Antonio, TX, and barred its President, Brian Alfaro, for fraudulent sales of oil and gas private placements and unregistered securities. In addition, Brian Alfaro was found to have used customer funds for personal and business expenses. As restitution, Pinnacle and Alfaro are ordered to offer rescission to investors who were sold fraudulent offerings and refund all sales commissions to those customers who do not request rescission.

  • CBOE Futures Exchange And DRW Trading Group Complete Agreement To Create Stock Index Variance Futures

    Date 25/04/2012

    The CBOE Futures Exchange, LLC (CFE) and DRW Trading Group have completed an agreement that will allow CFE to use DRW's patent-pending methodology to create variance futures that, for the first time, match the quoting conventions and economic performance of over-the-counter (OTC) stock index variance swaps. 

  • Entry Standard For Bonds Is Corporate Bond Market Leader In Germany - Deutsche Börse Looks Back On Positive First Year

    Date 25/04/2012

    Deutsche Börse is reflecting on a positive first year since it introduced the Entry Standard for bonds. The segment has established itself as the market leader for listed corporate bonds in Germany in terms of issue volume and the number of issues in the past 12 months. Eleven companies with 13 bonds and a total issue volume of €812 million (planned) and €530 million (placed) have used the Entry Standard for bonds as an alternative source of financing.

  • MarketAxess Reports First Quarter 2012 Record Revenues Of $50.7 Million, Record Pre-Tax Income Of $22.7 Million And Diluted EPS Of $0.35

    Date 25/04/2012

    First Quarter Financial Highlights* 

     

    • Record revenues of $50.7 million, up 16.3%
    • Record pre-tax income of $22.7 million, up 28.8%
    • Pre-tax margin of 44.8%, up from 40.5%
    • Record EBITDA of $24.6 million, up 27.9%
    • Net income of $13.5 million, up 25.2%

    *All comparisons versus first quarter 2011. 

     

  • NASDAQ OMX Reports First Quarter 2012 Results

    Date 25/04/2012

    • Q112 non-GAAP diluted EPS of $0.61, on par with prior year; Q112 GAAP diluted EPS of $0.48
    • Q112 net exchange revenues of $411 million
    • Declares initial quarterly cash dividend of $0.13 per share
    • Implementing cost reduction plan with a goal of $50 million in annualized cost savings by end of 2012, with $25 million savings realized in 2012
    • Announces discussions with LCH.Clearnet Group regarding the acquisition of IDCG