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Tag Archives: BATS Chi-X Europe

CBOE Hits Home Run In Bats Acquisition; $3.2 billion acquisition will push CBOE into the stock, FX and European equities area, plus provide a new technology platform Blog,Feature,Regulation

  By JLN Staff “This is a great fit culturally,” said CBOE CEO Ed Tilly, who is trying to pull off the biggest deal of his career, with the $3.2 billion acquisition of Bats Global Markets Tilly and his team was also looking for a deal that would create cost synergies for the firm, and of course, growth. The combined offering will push CBOE well beyond its equity options and niche futures business. On the options side, Bats offers a maker-taker options exchange with price-time allocations. Bats also extends CBOE into the stock, FX and trade reporting services in Europe….

John Lothian Newsletter: CME challenges LME in its metals trading heartland; Bats Chi-X Europe to start continuous auctions for share trading; Human decisions blamed for August’s stock market rout John Lothian Newsletter,Newsletter

First Read A World of Opportunity Returns To London! Doug Ashburn – JLN MarketsWiki Education is headed back to London next month for another round of our World of Opportunity speaker series geared toward “the next generation of market participants” – college students, interns, young professionals and anyone interested in the financial markets. We will hold three sessions, one on October 14 and two on October 15, all at Nasdaq, Woolgate Exchange, in the heart of the City’s financial district. The events feature executives from the CME Group, Nasdaq, London Metal Exchange and Euronext as well as fintech entrepreneurs, proprietary…

John Lothian Newsletter: BATS CHI-X Europe and ICAP launch exchange for trading and clearing physical transactions; Futures brokers feel strain from low interest rates and red tape; Bourses face closing auction challenge from Aquis John Lothian Newsletter,Newsletter

First Read Former JLN Intern Places 4th in Trading Competition Former JLN intern Evan Fabry and his teammates from the University of Illinois took first place in the BP Trading simulation this last weekend and 4th place overall. Evan’s teammates included Greg Pastorek and Ty Buenting. The teams that place ahead of them were from MIT, Dartmouth and Carnegie Mellon. ++++ ‘Dull work, flat pay and lousy colleagues’ Ben McLannahan, New York, FT The work is dull, the pay flat and your colleagues lousy. But that could well be your lot in financial services, according to a global survey that…

John Lothian Newsletter: ICE CEO Sprecher wants regulators to look at ‘maker-taker’ trading; U.S. regulator approves BATS/Direct Edge; SIX Group to build pan-European clearing house John Lothian Newsletter,Newsletter

First Read The CME Should Buy the CBoe Soon John Lothian The CME Group should buy the CBoe soon. I can’t believe I am writing this, but that is the conclusion I have come to. The reason why is that if they don’t act soon, the CBoe may become too expensive to justify buying. The CBoe stock price was up 76 percent last year and its market cap is $4.3 billion. The CME’s stock was up 55 percent, still outperforming the market, but not the CBoe. CME’s market cap stands at $25 billion, just a shade above InterContinentalExchange’s (ICE) $23.7…

John Lothian Newsletter: NYSE Busts Trades as Anadarko Falls to Penny; HKMEx surrenders trading license; Hemsley sees Bats take flight John Lothian Newsletter,Newsletter

A final-minute trading burst at the NYSE sent a stock’s price from $90 to $0.01 and back up again on Friday, causing the exchange to bust most of those trades afterwards. Fledgling Hong Kong Mercantile Exchange (HKMEx) ceased trading operations last week, relinquished its trading license and settled the handful of outstanding open contracts, vowing to renew operations in the future with new products. No longer just a trading platform, Bats Chi-X Europe starts its first week with the new designation of stock exchange.

John Lothian Newsletter: BATS’ European Arm Wins Exchange Status; SEC’s Aguilar calls for robust supervision of exchanges; LSE Said to Hire Schwieger From Merrill as Equities Head John Lothian Newsletter,Newsletter

BATS Chi-X Europe gets regulatory approval to operate as a full-fledged exchange. An SEC commissioner advances the notion that self-regulating exchanges should also be actively overseen by the SEC. The London Stock Exchange picks up a new London head of equities from BofA Merrill Lynch.

John Lothian Newsletter: Bats builds share in Russian names; China brokers boost prop trading profits; HKEx Appoints Group Chief Financial Officer John Lothian Newsletter,Newsletter

Bats Chi-X Europe more than doubles its market share for Russian depositary receipts over the last several months as it makes inroads into LSE territory. Securities brokers in China are doing better and better in their proprietary trading endeavors, while those practices are being increasingly outlawed in the West. Hong Kong Exchanges picks its new Group Chief Financial Officer.

John Lothian Newsletter: Bats Chi-X Europe names Equiduct’s Howson COO; Andrew Ceresney Expected to Be Pick for S.E.C. Enforcement Unit; Futures regulators challenged by changing industry John Lothian Newsletter,Newsletter

Bats Chi-X Europe taps rival founder David Howson to take the COO reins. In the US, the SEC looks likely to choose Andrew Ceresney to take over from Robert Khuzami as enforcement director. Regulators, both “self” and the independent variety, struggle to find effective ways to regulate trading activity and reduce offenses. JLN’s “CBOE 40” anniversary celebration video is unveiled on CBOE’s web site.

John Lothian Newsletter: LSE aims new market at high-growth SMEs; CFTC Delays Swaps Vote As Member Voices Concerns; Regulators review Bats’ plans for London exchange John Lothian Newsletter,Newsletter

The London Stock Exchange plans to start a new marketplace to allow small companies to list shares and raise capital while retaining control over much of their total shares. The CFTC, facing internal discord, delays a vote on venues for derivatives. Regulators in the UK ask Bats Chi-X Europe to please step forward. In First Read today, video #11 of JLN’s Restoring Customer Confidence arrives, featuring Scott Gordon of Rosenthal Collins Group, who discusses the transparent way that the firm holds and invests customer funds.