News

New HK closing auction expected by 2012

Hong Kong Exchange and Clearing could reinstate a closing auction next year, according to market participants who have been consulted on possible alternatives to the current method.

SGX adds eight new ADRs for Chinese, Japanese and Korean firms

Singapore Exchange will add eight more American depository receipts to its GlobalQuote board on 18 May. All the ADRs are fungible with those listed in the US and allow investors to manage their exposure to these companies outside of US trading hours.

GAIN Capital seeks new opportunities in Asia

GAIN Capital, an online trading services provider, has received regulatory approval from the China Banking Regulatory Commission to open a representative office in Beijing.

Market maker system glitch costs Nasdaq US$3 million

A malfunction on the Market Maker Automated Quote Management System introduced by Nasdaq as a consequence of the flash crash has left the US exchange operator paying approximately US$3 million in compensation to market makers.

ConvergEx launches new options trading tools

ConvergEx Group, a trading technology provider, is providing clients with a new suite of solutions to meet high-speed routing and execution needs, through its LiquidPoint options trading platform.

Citi reverse split could suck up US liquidity

A 1:10 reverse split of Citigroup stock on Friday 6 May, which reduced the number of outstanding shares by a factor of 10 while increasing the stock price by the same multiple, could lead to a near 5% reduction in liquidity on the US market.

Nomura introduces execution analysis service in Asia

Nomura, a Japan-based investment bank, has launched a new execution consulting service within its Asia-Pacific electronic trading division, providing institutional clients with bespoke analysis to enhance their trading strategies.