Despite political and economic uncertainty, global stock exchange groups have powered through, generating strong results in the first half of 2017. Total revenues hit $14.7 billion, up 4.1 percent from a year earlier and an annual record is expected to be set by the end of the year, according to a recent report from consultancy… Read More >>
CBOE to Buy Bats for $3.2 Billion
CBOE Holdings, the holding company of several options exchanges, will be expanding its product offerings across asset classes and geographies with the $3.2 billion acquisition of the upstart exchange Bats Global Markets, which itself acquired a swap execution facility (SEF) over the summer. The holding company for the Chicago Board Options Exchange (CBOE), CBOE Futures… Read More >>
NYSE, Nasdaq & Bats Join Forces on Volatility Rules
Bats Global Markets (Bats), the Nasdaq Stock Market and the New York Stock Exchange (NYSE), a subsidiary of Intercontinental Exchange, have been working together for about a year on a way to harmonize key functions of U.S equity markets to “increase resiliency during times of extreme volatility,” confirm officials from all three exchanges. “In the… Read More >>
Bats Exchange to Acquire Pioneering SEF
A pioneer in the push for swap execution facilities (SEFs), the Javelin SEF will likely become part of Bats Global Markets, according to an acquisition plan recently announced by Bats officials. Bats officials decline to reveal the financial details of the acquisition but say that the “deal is intended to accelerate Bats’ plans to offer… Read More >>
Deutsche Börse to Sell ISE to Nasdaq for $1.1B
Just as the London Stock Exchange and Deutsche Börse Group are in a tango over a potential merger, Deutsche Börse officials took a side step and agreed to sell International Securities Exchange Holdings, Inc. (ISE) to Nasdaq for a total cash consideration of $1.1 billion, officials say. Nasdaq and Deutsche Börse officials confirm that they… Read More >>
People Moves for DTCC in the U.K., Bats Global Markets and Orc
DTCC Predicts 40% U.K. Workforce Y2Y Increase The DTCC, a post-trade market infrastructure for the financial services industry, reports a “significant expansion of its workforce across the firm’s primary European locations,” which are in both London, England, and Wrexham in north Wales. DTCC predicts that it will have approximately 700 employees in the UK by… Read More >>
TrueEX Fills Top IT Management Post
TrueEX, which characterizes itself as the first designated contract marketplace for interest rate swaps, reports the appointment of Saro Jahani as chief information officer. Additionally, Jim Miller, the company’s co-founder, will be “migrating from his current full-time role as head of product development at the company in April 2015 to become an advisor to the… Read More >>
BATS’ President Departs
Earlier this week, exchange operator BATS Global Markets announced that its president William O’Brien was leaving, effective immediately. His exit follows remarks he made in April when he incorrectly stated that BATS’ Direct Edge exchanges use high-speed market data feeds to provide clients with pricing data. BATS serves customers in the U.S. and European equities… Read More >>
No Layoffs after Wolters Kluwer Acquires FinArch
No Layoffs after Wolters Kluwer Acquires FinArch No layoffs are planned as a result of Wolters Kluwer Financial Services’ acquisition of FinArch, say officials at Wolters Kluwer, maker of risk management, compliance and audit solutions.As part of the agreement announced this week, Wolters Kluwer will get FinArch’s approximately 200 employees and more than 150 customers…. Read More >>
