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Diversified Financial Services Specialized Finance

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  • SAN FRANCISCO/ CHICAGO, April 24- The UK- based trader accused by U.S. authorities of making more than $40 million manipulating markets and contributing to the 2010 Wall Street flash crash was on the losing end of at least one trade: his purchase of the CME Group seat that helped to make the alleged scheme possible. Navinder Sarao bought the seat in May 2008 for...

  • Nasdaq to settle Facebook IPO lawsuit for $26.5M Friday, 24 Apr 2015 | 5:07 AM ET
    Shares of Facebook fell below the $38 offer price in the second trading day.

    In a first for a U.S. stock exchange, Nasdaq OMX Group on Thursday agreed to pay $26.5 million to settle a lawsuit involving its bungling of Facebook's IPO.

  • NEW YORK, April 23- In a first for a U.S. stock exchange, Nasdaq OMX Group on Thursday agreed to pay $26.5 million to settle a class-action lawsuit involving its bungling of Facebook Inc's $16 billion initial public offering, the plaintiffs' lawyers said. "This is the first case that we are aware of where a class of investors has sued an exchange for market disruption,...

  • April 22- The London Stock Exchange Group, among the world's oldest exchanges, may strike a deal with one of the big four Western exchanges within two years, the group's chief executive told the Wall Street Journal in an interview. When there is an industry with competitive tension, consolidation tends to be not too far behind, "CEO Xavier Rolet told the newspaper.

  • In a hearing before a Securities and Exchange Commission administrative law judge, an attorney for the Securities Industry and Financial Markets Association tried to undercut testimony from an employee at Intercontinental Exchange's NYSE Arca. At the heart of the case is a fundamental question about whether competition between NYSE and Nasdaq OMX is...

  • LONDON, April 16- Euro zone government borrowing costs slid to new lows on Thursday, a day after the European Central Bank pledged to fulfill its 1 trillion euro bond-buying program, although regional stocks took a step back from this week's multi-year peaks. Investors also fretted about the deepening crisis in Greece. Credit rating agency Standard& Poor's...

  • TOKYO, April 16- Foreign investors were bigger net buyers of Japanese shares last week than they had been in five months, bourse data showed on Thursday. During April 6-10, foreigners bought a net 591 billion yen worth of Japanese shares, according to the Japan Exchange Group, which operates the Tokyo Stock Exchange. "Long-only funds which had been underweight of...

  • NEW YORK, April 9- BATS Global Markets is proposing to close its doors to thinly traded stocks in an unusual move that aims to increase trading volume in the shares of perhaps 500 to 600 micro- and small-cap companies. Chief Executive Chris Concannon said Thursday that BATS planned to file a letter with the Securities and Exchange Commission this month that would...

  • April 8- Ballooning pension payments, difficult negotiations with labor unions and threatened state funding cuts are some of the challenges facing Rahm Emanuel, who won a second term as Chicago's mayor on Tuesday. As a result, rating agency Moody's Investors Service has dropped Chicago's general obligation credit rating six notches since 2010 to Baa2, two...

  • *Employers add 126,000 jobs in March. NEW YORK, April 3- U.S. Labor Department data showed U.S. employers added just 126,000 jobs in March, the fewest in more than a year.

  • April 2- Gambling technology company Playtech Plc said it would buy a majority stake in TradeFX Ltd for 208 million euros in cash to enter the trading platform and payment services market. TradeFX is majority owned by a trust for the benefit of Israeli billionaire Teddy Sagi, Playtech's largest shareholder with a stake of about 33.6 percent.

  • UPDATE 1-Credit bureau TransUnion files for IPO Tuesday, 31 Mar 2015 | 7:33 AM ET

    March 31- TransUnion, one of the largest credit bureaus in the United States, filed with U.S. regulators on Tuesday for an initial public offering of common stock. The company, whose competitors include Equifax Inc and Experian Plc, sells credit reports to lenders which use the data to assess the credit worthiness of borrowers. TransUnion filed for an IPO in 2011...

  • Credit bureau TransUnion files for IPO Tuesday, 31 Mar 2015 | 6:23 AM ET

    The company, which sells credit reports and services to business, listed Goldman Sachs, J.P. Morgan Securities, Deutsche Bank Securities Inc and Merrill Lynch, Pierce, Fenner& Smith among underwriters to the IPO.

  • DUBAI, March 26- The Kuwait Stock Exchange may offer up to 44 percent of its shares to a company that has experience in operating bourses when it goes public, a senior government official told Reuters on Thursday. Such a move, which still requires the sign-off by lawmakers in the Gulf Arab state, would open the way for an international exchange operator such as...

  • JERUSALEM, March 24- The Tel Aviv Stock Exchange, seeking to reverse a decline in trading volumes and company listings, is launching a "Start-Up Nation" index of top Israeli technology companies traded around the world, it said on Tuesday. The new "TA-BIGITech" index, launched in cooperation with BlueStar Indexes, will comprise 57 Israeli and Israeli-related tech...

  • *China could be game changer for green bond market. LONDON, March 23- Companies could issue a record $30 billion in so-called "green bonds" this year, but further growth in the market will depend on developments in China and common standards, Standard& Poor's Rating Services said on Monday. This year, the corporate market has been boosted by more issuances, including...

  • TORONTO, March 11- A new Canadian stock exchange set to launch in late March will offer attractive fees for market data or waive them altogether in a bid to challenge the dominance of TMX Group Ltd's Toronto Stock Exchange. Aequitas Innovations Inc said on Wednesday that its Neo exchange will not charge retail investors for access to real-time displayed market...

  • BOCA RATON, Florida, March 11- Nasdaq OMX Group said on Wednesday it is expanding into energy derivatives with energy futures and options set to trade on the Nasdaq Futures Exchange at less than half the prices charged by incumbents CME Group and Intercontinental Exchange. Nasdaq has been pitching the new offerings to brokerages and banks for months and has...

  • HKEx may change listing rule after Alibaba IPO loss Saturday, 30 Aug 2014 | 12:50 AM ET

    Stung by the loss of the IPO of Chinese e-commerce firm Alibaba, the Hong Kong stock exchange took a step towards loosening its listing rules.

  • Tech M&A deals have been 'preposterous': Pro Thursday, 20 Mar 2014 | 7:24 PM ET
    Tech M&A deals have been 'preposterous': Pro

    Keith Fitz-Gerald, Chief Investment Strategist, Money Map Press, says he is shifting his attention away from mergers and acquisitions in the technology field to the financial sector.