New stock exchange in Mexico in the works

October 30, 2015 10:44 AM
Exchange Shorts

BMV: Central de Corretajes (CENCOR) submitted an application to the Ministry of Finance to form and operate a new Stock Exchange in Mexico, Bolsa Institucional de Valores de Mexico (BIVA), to compete with BMV. CENCOR plans to invest MXN 300 in the initiative. All securities currently traded in Mexico would be eligible to trade at BIVA.

DB1 and China FX regulator to set a joint venture. DB1 also to launch the China Europe International Exchange (CEINEX), a JV with CFFEX and Shanghai SE, on November 18. CEINEX will offer IR, interbank and renmimbi-denominated FX products trading. Reported by Reuters.

BME reported 3Q15 EPS of €0.49 (-8% q/q, +7% y/y), in line with ERDesk estimate and 2c below consensus’. Revenues were €83m (-6% q/q, +5% y/y) and OpEx was €26m (-1% q/q, +5% y/y).

CBOE reported adj diluted EPS of $0.76 (+33% y/y) and GAAP diluted EPS of $0.81 (+42% y/y) on revenues of $187m (+26% y/y) and adj OpEx of $86m (+16% y/y). CBOE guided 2015OpEx at $194m-$196m, down from $190m-$194m. There are $92m available under the share repurchase program.

WSE 3Q15 net income was PLN 30m, flat yoy. Revenue increased 1% yoy to PLN 79m 

Reserve Bank of Australia will not actively promote CCPs for repos, as it does not see a financial stability case. 

ENX got approval by the Hong Kong Securities and Futures Commission to offer automated trading services in Hong Kong. ENX will offer direct access to derivatives trading including the CAC40 index futures. Reported by The Trade.

ICE will launch its first world cotton contact and will allow for delivery of cotton grown abroad in locations from Brazil to Malaysia, according to Reuters.

ENX to launch its wood pellet futures aimed at the residential heating market on Nov. 20, according to Reuters.

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.