News Centre

Tokyo Stock Exchange Market Impact View Report, “Perspectives On Market Liquidity Using TSE Market Impact View” Now Available

Date 30/07/2012

Hiwon Yoon, President and CEO of CMD Lab, Inc. and Engineering PhD who assisted in the development TSE Market Impact View (TMIV) introduced by the TSE in December last year, has created a report on the service entitled "Perspectives on Market Liquidity Using TSE Market Impact View".

SIX Swiss Exchange And Liquidnet Offer Block Liquidity In Six More European Markets - Block Trade Execution Platform Now Covers 11 Markets And 4,200 Stocks

Date 30/07/2012

In response to strong demand from their members, SIX Swiss Exchange and Liquidnet, the global institutional trading network, announced today the expansion of the SIX Swiss Exchange Liquidnet Service (SLS). From today, the platform for executing block trades will include 1,200 additional stocks from the Belgian, Danish, Finnish, Austrian, Portuguese and Swedish equities markets. This increases the number of markets covered by SLS to 11.

Osaka Securities Exchange SPAN Parameter Updated - August 06, 2012 - August 10, 2012

Date 30/07/2012

OSE has set up SPAN Parameter for calculating margin requirements as follows.

This SPAN Parameter is used for calculating "SPAN Risk Parameter Files" which are distributed on a daily basis. OSE sets and publishes new Parameters on the first business day of each week, which are applicable from the first business day of the next week.

TS-Associates Acquires Correlix

Date 30/07/2012

TS-Associates, the leading supplier of precision instrumentation solutions for latency sensitive trading systems, has acquired the assets of Correlix, a latency management service provider. With this acquisition, TS-Associates now offers the most comprehensive range of instrumentation solutions for electronic trading systems, with best-of-breed latency monitoring and trade flow analysis capabilities, appealing to both technology and business users and with proven features at every layer in the technology stack.

Shanghai Stock Exchange: Notice Of Soliciting Public Opinions On "SSE Detailed Rules (Draft Version) For Trading Of Shares With Risk Alert"

Date 30/07/2012

The Shanghai Stock Exchange (SSE) plans to set up the Risk Alert Board specifically for the trading of shares in the companies with delisting risk alert and other ones with major risks, with a view to preventing the trading risks of shares in SSE-listed companies, safeguarding the implementation of the delisting system of SSE-listed companies and protecting the legal interests of investors. To this end, the SSE has formulated the "Notice of Soliciting Public Opinions on 'SSE Detailed Rules (Draft Version) for Trading of Shares with Risk Alert'". It hereby solicits opinions on the Rules from the public.

NZX Update On 2012 1H Performance

Date 29/07/2012

NZX's Half Year 2012 Operating Metrics, accompanying this release, highlight the impact of a decline in capital markets activity during the second quarter. This trend is similar to the decline witnessed in offshore markets.

Standard & Poor's Ratings Services: United Kingdom 'AAA/A-1+' Ratings Affirmed - Outlook Remains Stable

Date 28/07/2012

Overview

We project that, despite recent weakness, the U.K. economy should begin to recover in the second half of 2012 and steadily strengthen, and we 
expect economic policy to continue focusing on closing the fiscal gap. 
In our view, monetary flexibility remains a key credit strength owing to the British pound sterling's role as a global reserve currency. 
We are affirming our 'AAA/A-1+' long- and short-term unsolicited sovereign credit ratings on the U.K.
The stable outlook reflects our expectation that the U.K. government will implement the bulk of its fiscal consolidation program and that the 
economy should recover in the remainder of 2012 and strengthen thereafter.

SIFMA: US Government Forecast, 2012 Q3

Date 27/07/2012

About the Report

A quarterly survey of SIFMA's Primary Dealers and Government Securities Research and Strategist Committees concerning U.S. government issuance and rates forecasts. The committees are composed of trading strategists and research analysts at SIFMA member firms who specialize in the U.S. government and agency securities markets. The survey is intended to provide market participants with the current consensus expectations and median forecasts of many of the primary dealers and other firms active in the U.S. government and agency securities markets.

Summary

The SIFMA Quarterly Issuance Survey forecasts total net Treasury bill, note, and bond issuance to be $264.5 billion in the third quarter of 2012, 64.4 percent above the net $160.9 billion issued in the second quarter (actuals include cash management balances).

Excluding cash management bills (CMBs), total net issuance stood at $160.9 billion in 2Q'12, a 55.5 percent decrease from $361.2 billion in the prior quarter. For the first time (SIFMA records started in 1Q'06), there were no CMBs issued during the quarter.

The total first quarter net issuance of $160.9 billion was 59.9 percent lower than the $401.2 billion issued in the previous quarter and 11.6 percent below the Treasury's April borrowing estimate of $182 billion for the second quarter of 2012.

CBOE 2011 Market Statistics

Date 27/07/2012

Details of CBOE trading activity, listed by individual security with contract volume and average daily volume. Also provides historical trading activity.

US Repo Fact Sheet 2012

Date 27/07/2012

About the Report

An annual update and overview to the U.S. repo market.

Summary

The $5 trillion daily turnover in the repurchase, or repo, market is a vital, but not always well understood, part of the U.S. financial system. The repo market represents a liquid, efficient, tested and safe way for firms to participate in a short-term financing arrangement, providing funding for their day-to-day business. Repurchase agreements, or repos, are a sale of financial assets combined with a promise to repurchase those assets in the future (in many cases, the repurchase is agreed for the following business day). These arrangements have the economic characteristics of a secured loan - cash vs. collateral - and are used by short-term institutional cash investors as a secured money market instrument and by dealers as a way to finance long positions in securities.