Thursday, August 9, 2012

News: EuroCCP fees, ASX comp, HFT bashing (still)...Skip and a one way ticket.


Well, another week flies bye. I think I was on top of my inbox for one day this week. WooHoo!
I park all the unessential emails in a “later on today” folder...where they often sulk in the dark before a great big purge and bulk delete carries them away.

Looks like team GB getting carried away at the Olympics. And Team Aus? OMG what’s going on? Does anyone know a good website which shows where our hopefuls are? We’re languishing down the medals table at #17.

Ring my Bell:
One story about the Olympics that may not make the news there (Down under) but which was actually lovely

As mentioned before. In Aust we have houses (the fuel of the Aussie and every bar room conversation) and holes (mines).
We do big Holes:
BHP's environmental statement revealed it planned to spend six years removing the overburden to access the ore body. In all, it planned to remove a 350 metre thick layer of overburden and the rock taken out will be transported to a rock storage facility that covers 6,720 hectares and will eventually be 150 metres high. By 2050, when the mine has not even completed half its life, the pit would  be 4.1 kilometres long, 3.5 kilometres wide and one kilometre deep

EuroCCP raises clearing fees. The thing for me with this fee increase is transparency. My guess is the 13 cent inter CCP fee is actually 39 cents (because there are 3 CCPs)....and miscellaneous fees are well...various.
Negative HFT sentiment continues to dominate in Aust.
ASX needs a little competition to do a deal.

Gotta dash.

This weekend have a 3 cubic meter skip to fill.

Enjoy the Olympics and have a great, Bank holiday,

S




PLATFORMS

ICE FUTURES US TO CLOSE TRADING FLOOR AND GO FULLY ELECTRONIC
IntercontinentalExchange says it will bring open-outcry floor trading at its ICE Futures US unit to an end in October, going exclusively electronic.

BATS Chi-X Europe's Paul O'Donnell To Return To Morgan Stanley


FINRA BARS FORMER QUOTE MTF CHAIRMAN PETER BECK

MAPLE GROUP COMPLETES ACQUISITION OF CDS AND ALPHA

Australian Financial Review: ASX needs a dose of competition
...if there were to be thriving competition in clearing and settlement, together with a lot more competition in trading, and an overseas bid without close foreign government ties (unlike the Singapore bid), then the regulator is likely to be much more forthcoming. (in allowing a corporate deal)


CLEARING

ECCP raises its clearing (miscellaneous cost recovery) and settlement (interCCP settlement cost recovery) charges

 

Derivatives reform bill - no surprises for Australia's derivatives industry

On Wednesday 25 July 2012, the Australian Government released an exposure draft of the Corporations Legislation Amendment (Derivatives Transactions) Bill 2012, which will establish a framework for the introduction of substantial reforms to Australia's over-the-counter (OTC) derivatives industry.

LCH.CLEARNET NAMES MARTIN RYAN GROUP HEAD, OPERATIONS AND CLIENT SERVICES

SGX takes securities margining to the streets
Singapore Exchange (SGX) is consulting the public on proposed rules to introduce margining for securities cleared by the Central Depository (CDP)...


POLICY

Still time to face market gremlins


PARTICIPANTS

Administrative Action against Nomura Securities Co., Ltd.

Interim results for the period ended 30th June 2012

Fidessa maintains growth in very challenging markets
Total revenue: STG 118 myn.
Sell side: 71 myn
Buy side: 8myn
Connectivity: 26myn
Market Data: 13myn
Asia showed strongest growth 18%
America grew 10%
Europe decreased 6%
Fidessa continues to see consolidation and business ‘failures’.
Biggest revenue diversification play has been getting into derivs.
Value of flow across the network circa 950 billion /mth.


STUFF

MAN HIDES A$15K IN OVEN, WIFE COOKS IT
An Australian man has seen $15,000 go up in smoke after he hid the cash in the oven, only for his wife to decide to cook some chicken nuggets.

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