Lifeguard on duty: NYSE wants to draw traders away from dark pools

February 2, 2015 10:28 AM

Intercontinental Exchange Benchmark Administration will administer the LBMA Gold Price, replacing the London Gold Fix, from March 2015.

GFI shareholders voted against the firm’s planned sale to CME, and the brokerage firm said that it was exploring strategic alternatives, Reuters reported.

BGC Partners’ shareholder Howard Lutnick stated that BGC is committed to buying GFI Group after GFI shareholders rejected CME’s takeover proposal. According to Lutnick, “we remain fully committed to completing our all-cash tender offer of $6.10 per share, which remains open to GFI shareholders….Our tender offer is the only viable option.”

ICE: New York Stock Exchange plans to seek regulatory approval to introduce a midday auction in order to draw trading away from private venues such as dark pools, Reuters reported.

NDAQ launched its experimental pricing program today with lower access fees for 14 stocks representing both small and large capitalization companies trading on US equity listing venues.

European Network Exchange appointed Maurice van Tilburg as CEO of Euronext Amsterdam with immediate effect, pending regulatory approvals. Van Tilburg has almost 20 years’ of experience in the exchange sector, and prior to this appointment, was Head of Business Projects & Design of the European Equity and Equity Derivatives Markets at ENX.

Bombay Stock Exchange (BSE) is slashing fees in FX derivatives in order to compete with rival National Stock Exchange (NSE), Reuters reported.

European Energy Exchange (EEX) will migrate trading on the Spot Market for CO2 Emission Allowances to the T7 trading system, and all spot and derivative market products will be tradable on a joint system.

About the Author

Bernardo Mariano brings to ERDesk his experience structuring private deals for the acquisition of mutual exchanges. Prior to joining ERDesk Bernardo worked as a Director for Instinet and later, CEO of Reuters' Bondex. He holds an MS in Economics from University of Illinois and an MIA in Finance from Columbia University. He can be reaced at be reached at mariano@erdesk.com.