This announcement from BidX Markets follows shortly after a warning issued by the UK’s Financial Conduct Authority (FCA) against investment platforms engaging in "double dipping" – a practice where platforms retain a portion of interest on client cash balances while charging an additional fee for cash management. Simon Blackledge, the CEO of BidX Markets, said:…
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Valued at 15.4 times its projected 2024 adjusted EBITDA, VettaFi boasts over 80% recurring revenue. TMX Group expects the acquisition to positively impact its adjusted earnings per share within the first year. The deal, financed through $1 billion in bank debt, is anticipated to be finalised in January 2024. John McKenzie, the CEO of TMX…
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The company's success in the rates market was particularly noteworthy. The daily average volume for U.S. government bonds grew by 19.5% year-over-year, amounting to $163.7 billion. Similarly, the European government bonds saw a 30.5% year-over-year increase, totalling $44.8 billion. Factors contributing to this growth include an expanded client base, diverse trading methodologies on the institutional…
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Nasdaq’s new contractual options are based on the exchange-traded products of the United States Oil Fund, SPDR Gold Shares, iShares 20+ year Treasure Bond ETF (TLT), United States Natural Gas Fund and iShares Silver Trust. The short-term options market is well built for stock index products, and, while it has historically been the case that…
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Dynamic M-ELO aims to speed up order matches and minimise market impact, boosting the efficiency of an already speedy stock market even more. According to the exchange, this will establish better trading outcomes. This initiative follows predictive AI, the Strike Price Optimisation Programme, implemented in the Nasdaq U.S. options market earlier this year. It enhanced…
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Operating result before interest, tax, depreciation and amortization (EBITDA) came in at CHF 225.6 million, up by 5.6% compared to the first half of 2022. Earnings before interest and tax (EBIT) for the period consequently fell by 17.4% to CHF 133.3 million. The Switzerland-based exchange remains positive given its results achieved in a "challenging market environment, dominated…
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In the realm of equity derivatives, 25.9 million contracts were traded in June, representing an 11% decrease from the same period last year. Meanwhile, in the OTC Clearing sector, the notional outstanding volumes witnessed a 23% increase in June compared to the previous year, reaching EUR 33,623 billion compared to EUR 27,247 billion. Within this,…
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Euronext also emphasized that its holdings in LCH SA were recorded at a carrying amount of €70.6 million as of the conclusion of 2022. The exchange group completed the acquisition of LCH SA in December 2017 through a share swap arrangement, wherein Euronext exchanged its 2.3% stake in LCH Group for an 11.1 percent stake…
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The completion of the offer depends on Deutsche Börse fulfilling customary conditions and obtaining the required regulatory approvals. It also necessitates a minimum acceptance threshold of 50% plus one share of SimCorp's share capital and voting rights. Based on the current timeline, the transaction is anticipated to be finalized in the third quarter of 2023.…
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Euronext’s trading revenue was also down by 14.5% YoY at €128.9 million, compared to the same period during the previous year. Cash trading declined by 23.7% to €71.7 million, as well as derivatives trading by 7.4% to €14.9 million. However, fixed income strengthened by 7% to €26.2 million and power trading by 8.4% to €9.8…
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