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Botswana Stock Exchange Market Commentary

Date 29/05/1999

The market's bellwether stock Barclays, continued to weigh heavily on the index resulting in a 0.8% decline for the week. Volume was broad with only two counters not trading, namely Engen and RDCP. Barclays gave up P1.00 on 1,120 shares to trade at its pre-split announcement price of P20.00. Botswana Insurance retraced 15t from its all-time high of P10.15 to settle at P10.00. FNBB has held up reasonably well despite its recent troubles, with 33,400 shares changing hands at the unchanged price of
100th SMAX Participant Exactly One Month after the SMAX Launch Deutsche Börse reports continuing high level of interest from issuers

Date 29/05/1999

On Wednesday May 26, exactly one month after the launch of the SMAX quality segment, Deutsche Börse listed the 100th SMAX company, M.A.X. Holding AG. Nine new listings have been added within the last four weeks. The SDAX, the barometer of the 100 strongest German SMAX companies, will be launched, as announced, on June 21. According to Deutsche Börse, there is a continuing high interest in SMAX on the part of issuers, who have embraced the concept. During the first month of SMAX, the capitalizati
Stock Exchange of Hong Kong is reviewing certain chapters of the Exchange Listing Rules

Date 26/05/1999

The Stock Exchange of Hong Kong has published a consultation paper on proposed amendments to certain chapters of the Exchange Listing Rules. Lawrence Fok, Senior Executive Director, Regulatory Affairs Group, said a principal goal of its 1998/99 review of the rules was to implement changes to take account of market development and practice. "The Exchange seeks to accomplish this by codifying as far as possible its practice in interpreting and applying the rules. In addition, it has proposed rule
Australian Stock Exchange Ltd ("ASX") and Sydney Futures Exchange Ltd ("SFE") Merger Proposal

Date 26/05/1999

The Board of the Australian Stock Exchange today decided, at this stage, not to vary the mutually agreed proposal to merge with the Sydney Futures Exchange.The Board also decided to seek direct consultation with SFE Members in order to explain the detail of the merger proposal and to incorporate their feedback into the range of strategic options that are now being considered. As a result of the timetable established by SFE, it is evident that SFE members have not yet had the opportunity to study
NYMEX to Change Cinergy and Entergy Electricity Margin Rates

Date 25/05/1999

The New York Mercantile Exchange will raise the initial margins on its July and August 1999 Cinergy and Entergy electricity futures contracts as of the close of business May 25. The rates will be raised to USD7,000 from USD6,000 for clearing members; to USD7,700 from USD6,600 for members; and to USD9,450 from USD8,100 for customers. Margins on spreads involving those months will be increased to USD4,400 from USD3,400 for clearing members; to USD4,840 from USD3,740 for members; and to USD5,940 fr

CME Sets June 21 Start Up For E-Mini Nasdaq 100 Futures - New Electronic 'Mini' Product Follows Success of E-mini S&P 500

Date 25/05/1999

The Chicago Mercantile Exchange (CME) will begin trading E-mini Nasdaq 100 Index® futures on Monday, June 21. The new product builds on the success of the Merc's popular E-mini S&P 500 futures, now the exchange's third most heavily traded futures contract. Sized at USD20 times the Nasdaq 100 Index price, the underlying value of the CME's E-mini Nasdaq 100 futures is one-fifth that of its regular Nasdaq 100 futures contract. At recent market levels, the E-mini Nasdaq 100 futures contract would b
CBOT Announces Disciplinary Action

Date 24/05/1999

The Chicago Board of Trade (CBOT) on May 24 announced disciplinary action taken on behalf of the CBOT membership by the Business Conduct Committee. As noted on the following page, this action reflects the exchange's commitment to maintaining a fair and orderly marketplace of the highest integrity. The CBOT releases all disciplinary actions involving fines in excess of $25,000 and/or suspensions greater than five days.
SFE Board Considers Offer By COMPUTERSHARE

Date 22/05/1999

Following the 21 May Board meeting of the Sydney Futures Exchange (SFE), Chairman Mr Rick H Smith has issued the following statement: "The SFE Board believes the Computershare Limited (CPU) offer is one that should be considered seriously. The Board will communicate with CPU and the Australian Stock Exchange during the next week and will not make any further statement until next Friday, 28 May, at the earliest."
LIFFE AGM and Board Elections

Date 22/05/1999

Shareholders of the London International Financial Futures and Options Exchange (LIFFE) approved the Directors' Report and Accounts for 1998 at its Annual General Meeting (AGM) held on May 20. At the AGM, ten directors retired and three directors were elected (two being retiring directors who were re-elected and one being a new director). This follows the vote at LIFFE's Extraordinary General Meeting (EGM) on 14 April to reduce the number of directors elected by shareholders from 17 to 10, reduc
Cyprus Stock Exchange Market Capitalisation CYP1,650 Billion at End April

Date 22/05/1999

The total market capitalisation (shares) of the Cyprus Stock Exchange reached CYP1,650 billion, an increase of 3.97% over the previous month. The total value of transactions during April reached CYP95 million with an average of CYP5,004 million per trading session, a decrease of 21.6% compared to the previous month.