FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

July 31, 2008 • 1:08 am 0

BM&F BOVESPA Celebrates 100 Companies Listed On The Novo Mercado – Exchange Announces New projects

BM&FBOVESPA prepares to launch a listing segment for BDRs (Brazilian Depositary Receipts). The objective behind this new project is to allow foreign companies to benefit from the same structure created for the Novo Mercado segment. The announcement was made on Friday, July 25, by the Exchange’s CEO, Mr. Edemir Pinto, during the event to commemorate the 100 companies listed on the Novo Mercado segment. “The idea of launching BDRs is part of our project of broadening the Exchange’s markets in Latin America. We are aiming at all Latin American companies that have the possibility of being listed on the Brazilian market,” stated Mr. Pinto, who also announced the creation of the BM&FBOVESPA in the countryside project. “The new Exchange is a place to think about the future both by investing in stocks and by hedging your agricultural production,” said the CEO, referring to the new program’s objectives.

The president of the Brazilian Securities and Exchange Commission (CVM), Ms. Maria Helena Santana, classified the Novo Mercado segment as a Brazilian asset. “Novo Mercado is probably the institutional factor that most contributes to market development available in our country today,” said Ms. Santana. BM&FBOVESPA’s Chairman, Mr. Gilberto Mifano, highlighted the importance of corporate governance, qualifying the segment as a defining milestone in the Brazilian capital market and as a model recognized throughout the world. “Brazil wins with this model. The Novo Mercado segment is the way modern Brazil resolves its financing needs.

This can be witnessed by the fact that our vigorous economy is bravely resisting the economic recession taking place in developed countries,” assessed Mr. Mifano. According to Mr. Mifano, the companies listed on the Novo Mercado segment, together, have a market value of BRL445 billion, almost 19% of BOVESPA’s total capitalization. “The IPOs have captured a total of BRL96.5 billion and have attracted thousands of new individual investors to the market.”

For full article click here

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, News, , , , , , ,

July 31, 2008 • 12:51 am 0

UBS launches direct market access to Brazil

UBS is among the first broker-dealers to offer non-Brazilian clients direct electronic equities trading and execution in this major market.

Direct Market Access provides clients with greater control over their orders, faster execution, lower cost of trading, and greater transparency. DMA enables UBS clients to quickly and efficiently send their electronic orders directly to the exchange, without passing them through an intermediary. Recent market regulation enacted in Brazil allows for non-domestic investors access to direct electronic trading on Bovespa (Bolsa de Valores de Sao Paulo), a Sao Paulo-based stock exchange. Bovespa is the second-largest stock exchange in the Americas, and the third largest in the world.

Mario Campos, Head of Latin America Sales & Trading, said, “We have a longstanding commitment to providing clients with seamless, direct, electronic access to the major markets all over the world. We are pleased to be one of the first brokers to offer global clients with DMA in Brazil. DMA gives our clients unmatched, efficient global access to liquidity.”

Before now, a non-Brazilian client wishing to buy or sell a stock trading on Bovespa had to send the order to a broker-dealer desk based in Brazil, which would then enter the order into a system connected to the exchange. For full article click here

Source: FINEXTRA 29.07.2008

Filed under: News, , , , , , ,

July 30, 2008 • 12:28 am 0

Tokyo Stock Exchange and London Stock Exchange outline new growth market

London Stock Exchange Group plc (LSE) and Tokyo Stock Exchange Group, Inc. (the TSE) today published an outline framework for their new Tokyo-based market for growing companies. The proposed market structure has been developed following extensive discussion with market participants, and will take advantage of the opportunity created by the revised Financial Instruments and Exchange Act passed in June 2008, which enables the establishment of Exchange-regulated markets.

The new market structure will be based on the London Stock Exchange’s successful AIM market, which is underpinned by a regulatory framework specifically designed to suit the needs of smaller, growing companies, and by the key role played by Nominated Advisers (Nomads) in assisting issuers with meeting their obligations as public companies. It is anticipated that the new market will address the funding gap faced by growing companies in Japan and elsewhere in Asia, while providing new opportunities for a range of Japanese and international professional investors.

The new market will be a joint venture in which the London Stock Exchange and TSE are equal partners, and will apply for permission to establish the market as soon as possible following the implementation of the revised Financial Instruments and Exchange Act, aiming to start full operation of the market in early 2009.

For a detailed description of TSE / LSE new Market Framework July 2008 click here

Source: TSE 29.07.2008

Filed under: News, , , , ,

July 28, 2008 • 8:25 pm 0

Colombia Stock Exchange strives to be a Latin American Alternative

The Colombia Stock Exchange (BVC), the country’s sole marketplace for equities and fixed income, in September will ramp up its derivatives offerings with a new trading platform from Nasdaq OMX Group.

The move is part of the exchange’s efforts to become an alternative to the recently formed BM&F Bovespa and the Mexican Stock Exchange-Latin America’s largest market centers-for international investors. “We are building momentum now,” says Juan Pablo Cordoba, chief executive of BVC, which was created through a 2001 merger of the Bogota, Cali and Medellin exchanges. “We are developing our business to meet international standards and to be more competitive.”

Source: Securitiesindustry.com 29.07.2008

Filed under: Colombia, Exchanges, FIX Connectivity, News, Trading Technology, , , , , , , ,

July 24, 2008 • 4:00 am 0

MexDer Selects Front-end Technology Provider

MexDer, the Mexican Derivatives Exchange, has selected RTS to provide the next generation front-end for its electronic trading platform. The agreement includes distribution of trading screens to MexDer local members including market makers, brokers and clearing firms.

RTS will provide its suite of trading solutions, which includes the high- performance trading platform, the RTD Realtime Trading Desktop, and the white-label version of RTS’ Web-based front-end, eRTD. MexDer will work with RTS to roll out and install RTS’ suite of front-end solutions to its Mexican exchange members.

“We have been taking enormous steps to facilitate international access to our markets. Our products are really benchmarks not only for Mexico, but for the Latin American region as a whole, and we believe this next generation front-end will further our global growth potential,” said Jorge Alegria, Chief Executive Officer of MexDer. “The roll-out of the RTS front-end solutions, which will be completed in short order, enables us to execute on our strategy of upgrading our local members’ access from our proprietary trading terminals to the next generation screen, based on the popular FIX protocol messaging that has become the industry standard.”   Full text click here

Source: Bobsguide/RTS 24.07.08

Filed under: BMV - Mexico, Exchanges, FIX Connectivity, Mexico, News, Trading Technology, , , , , , , , ,

July 23, 2008 • 3:18 am 0

Argentina:Mendoza Stock Exchange authorized for FIX e-platform

The Argentinean Securities Commission (Comisión Nacional de Valores) has authorized the use of “Oasis” —the new electronic trading system developed by Primary Trading Solutions (Primary) for Mendoza Securities Exchange (MVM)—, confirming that the development of electronic trading is a global trend. With a capacity to process millions of orders a day, this new platform is scheduled for release on August 4.  Full text click here

Source: FINEXTRA / Primary Trading 23.07.08

Filed under: Argentina, Exchanges, FIX Connectivity, Latin America, News, Trading Technology, , , , , , , ,

July 22, 2008 • 11:59 am 0

Mexican and Colombian Exchanges Mull Joint Trading

The Colombian and Mexican stock exchanges are negotiating an agreement to list shares from both countries on both exchanges as soon as 2009, the Mexican Stock Exchange operator’s Chairman Guillermo Prieto said. The Mexican stock Exchange operator, Bolsa Mexicana de Valores SAB is not only negotiating with the Bolsa de Valores de Colombia SA but also is discussing similar deals with Peru’s Bolsa de Valores de Lima SA and Brazil’s Bovespa Holding SA, Prieto said. He said the crossed trading will boost the liquidity of the different shares.

Source: FIF International News Stories – Week of 07/21/2008

Filed under: News, , , , , , ,

July 20, 2008 • 1:19 am 0

Japan’s DAIWA ties up with Brazil’s ITAU Securities

Banco Itaú and Japan’s Daiwa Securities have signed an MOU to cooperate in the capital and financial markets in Japan, Brazil and Latin America.The partnership will tap different businesses such as asset management, brokerage, research and investment banking, the Brazilian bank said in a press release.

Through the agreement, Daiwa will commercialize Itaú’s products in the Japanese markets and could also access the Brazilian market through the bank.

Itaú said it would launch two mutual funds in the Japanese market in August to be distributed through Daiwa Securities, one focused on Latin American corporates and the other a fixed income Brazilian securities fund.

Daiwa Asset Management will manage the two funds.

Itaú’s brokerage arm Itaú Securities already operates in Hong Kong and Tokio and will open offices in Beijing and Singapore in the second half this year.

Source: Business News Americas, 17.07.2008 Full Article

Source: Reuters 17.07.2008 See full article

TOKYO, July 17 (Reuters) – Japan’s Daiwa Securities Group Inc (8601.T: Quote, Profile, Research, Stock Buzz) plans to tie up with Brazil’s Banco Itau (ITAU4.SA: Quote, Profile, Research, Stock Buzz) in asset management, investment banking and broking as part of its strategy to further expand outside the Japanese market.

Daiwa has been taking steps to build up its operations outside the Japanese market, where it still generates 90 percent of its sales. The prospects for growth in Japan are limited given a mature economy and shrinking population.

Daiwa’s focus has been on Asia. In the past month it has announced plans to raise its stake in Vietnam’s Saigon Securities SSI.HM, buy convertible bonds in Taiwan’s Neo Solar Power Corp and invest in a fund targeting Chinese companies.

But Brazil has also been on its radar because of its rapidly growing economy and the high level of interest among Daiwa’s Japanese clients in Brazilian stocks and bonds.

Daiwa signed a memorandum of understanding in May with Itau to form an alliance and has since been talking with Brazil’s second-biggest private-sector bank on the details, according to Daiwa spokesman Hiroharu Misawa.

As a first step in the alliance, Daiwa said it would launch a mutual fund investing in Brazilian bonds and another fund targeting regional shares. Itau will advise on what to put in the funds, while Daiwa will use its network to market them in Japan.

Other possible areas of cooperation include investment banking, stock broking, research and personnel exchanges.

Daiwa could, for example, work with Itau to advise on cross-border mergers involving Japanese and Brazilian companies or use the alliance to help the growing number of Japanese companies active in Brazil tap local markets for funds.

Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) announced this week that it would build a new plant in the country while Nippon Steel Corp (5401.T: Quote, Profile, Research, Stock Buzz), Japan’s top steelmaker, is considering buying more shares in Brazilian affiliate Usiminas (USIM5.SA: Quote, Profile, Research, Stock Buzz).

Filed under: Banking, Brazil, Japan, Latin America, News, Services, , , , , , , ,

July 18, 2008 • 12:47 am 0

Asia Pacific exchanges added to Tenfore’s global coverage as investors seek new opportunities

Global market data provider Tenfore has expanded its global coverage with the addition of comprehensive “Level Two” market data1 for four Asian and Pacific markets. Gordon Bloor, CEO of Tenfore said: “The addition of New Zealand, The Philippines, Bursa Malaysia and Thailand reflects investment trends with investors seeking new opportunities, with a particular focus on the Far East. Full article click here.

Source: Tenfore 16.07.2008

Filed under: Data Management, Data Vendor, Market Data, News, Reference Data, , , , , , , , , , , , , , , , ,

July 15, 2008 • 4:53 am 0

Conferences 2008

Relevant Events participated and/or attended by FiNETIK Partners in 2008

Filed under: Events, , , , , , , , , , , , , ,

July 12, 2008 • 2:13 am 0

Singapore Commodities Exchange in the Works

India’s Financial Technologies announces plans for the new exchange just weeks after a similar initiative was revealed in Hong Kong, underlining the continued competition between the two trading hubs.

Extracts:

The announcement comes only two weeks after a group of private individuals said that they will be setting up a commodities exchange in Hong Kong in the first quarter of 2009.

The plan is to offer trading in a wide range of commodities from day one. While the specific contracts have yet to be decided and will depend on feedback from the market between now and the launch, they will fall into five categories – basic metals, precious metals, energy, agriculture and exotics (which include things like freight rates and carbon credits) – with each category having at least one contract at launch, according to Shah. The exchange, called the Singapore Mercantile Exchange (SMX), will also offer trading in commodity indices and currency pairs.

This is a different approach than that taken by the Hong Kong Mercantile Exchange, which will start off with just one futures contract focusing on fuel oil and gradually expand its product offering from there. This approach makes sense when considering that the HKMEx is backed by oil trading company Titan Petrochemicals and that the main initiative for the exchange comes from Titan’s former deputy chairman, albeit with the support of several international investment banks, large Chinese enterprises and the Hong Kong government.  Full and original text

Source: FinanceAsia by Anette Jonsson 11.07.08

Filed under: News, , , , , , , ,

July 11, 2008 • 12:38 am 0

6 Asian Stock Exchanges discuss trading tie-up

The FT reports that six Asian stock exchanges are working on plans to develop an integrated platform for display and execution of trades for the largest 180 companies in the region.
The plan is being elaborated by the stock exchanges of Thailand, Malaysia, Singapore, Vietnam, Indonesia and the Philippines, says the FT, which quotes Thai exchange chairman Pakorn Malakul Na Ayudhya.”What you see beginning to develop is the integration of stock exchanges in this part of the world,” he told the paper, pointing to recent initiatives by the mature bourses of Thailand and Korea to help set up fledgling stock market trading systems in Laos and Cambodia.

Collaboration between the six bigger exchanges would entail each bourse adding its 30 leading companies to a linked electronic trading platform, giving domestic investors in each country direct access via their local brokerage to a portfolio of 150 foreign companies.

The report does not go into detail on technology options available to the participating exchanges, although both Nyse Euronext and Nasdaq OMX are active in the regions, supplying trading systems to Malaysia and SGX respectively.

Source:Finextra 09.07.08

Filed under: News, , , , , , , , , , , , , , , , ,

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