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Diversified Financial Services Specialized Finance

  • NEW YORK, June 1- Financial services company Cowen Inc closed its acquisition of Convergex on Thursday and said it will shutter a key part of the off-exchange trading platform, Millennium, it acquired with the brokerage. The private electronic trading venue is one of more than 30 broker-run dark pools, also known as alternative trading systems, in the United...

  • NEW YORK, May 31- IEX Group, operator of the newest U.S. stock exchange, plans to list its first company in October as it tries to break into a business dominated by the New York Stock Exchange and Nasdaq Inc, according to a trading alert sent out on Wednesday. The New York- based company, which was featured in Michael Lewis' book "Flash Boys: A Wall Street Revolt," started...

  • *First stake in bank could raise about 3 billion euros. DUBLIN, May 30- Ireland launched its long-awaited initial public offering of state-owned Allied Irish Banks on Tuesday, offering a 25 percent stake in what is set to be one of Europe's largest bank listings since the 2008 financial crisis. The sale could raise about 3 billion euros, taking into account the...

  • LONDON, May 30- The European Union's securities watchdog wants new powers over clearing houses, credit rating agencies and some financial benchmarks that operate in the EU but are based outside the bloc, as Brexit ushers in fundamental changes to markets. It was responding to a European Commission consultation on whether changes are needed to financial...

  • NEW YORK, May 30- Exchange operator Bats said on Tuesday it will stop paying rebates on one of its U.S. exchanges, shifting to a low-cost, flat-fee model ahead of an expected industry pilot program that will test whether rebates lead to conflicts of interest among brokers. Bats, owned by CBOE Holdings, said as of June 1, its EDGA stock exchange, the smallest of the four it...

  • CARACAS, May 24- Venezuela set a range on Wednesday for the first offer in its new DICOM foreign exchange mechanism, effectively devaluing the previous SIMADI exchange rate by at least 60 percent as the currency continues its slide. Most Venezuela say they cannot get access to official exchange rates anyway and so must go to the black market, on which the bolivar...

  • *Moody's says expects China growth to slow to close to 5 pct. *China: Moody's over-estimates risks, methodology inappropriate. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the rating agency said in a statement,...

  • *China: Moody's over-estimates risks, methodology inappropriate. *S&P rates China one notch higher, on negative watch. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the rating agency said in a statement, changing its...

  • FRANKFURT, May 22- Deutsche Boerse Chief Executive Carsten Kengeter's defense team is negotiating with prosecutors to drop an insider trading investigation against him, German daily Handelsblatt reported on Monday. In return, the German stock exchange operator may face a fine of up to 10 million euros for delaying the announcement of its plans to merge with...

  • FRANKFURT, May 22- Deutsche Boerse Chief Executive Carsten Kengeter's defence team is negotiating with prosecutors to drop an insider trading investigation against him, German daily Handelsblatt reported on Monday. In return, the German stock exchange operator may face a fine for delaying the announcement of its plans to merge with the London Stock...

  • *All major agencies now rate Indonesia investment grade. JAKARTA, May 19- Rating agency Standard& Poor's upgraded Indonesia's sovereign ratings to investment grade on Friday, a long-awaited move that sent Jakarta shares soaring on hopes it could spur a wave of investment into Southeast Asia's biggest economy. Fund managers say the investment grade from S&P,...

  • *All major agencies now rate Indonesia investment grade. JAKARTA, May 19- Rating agency Standard& Poor's upgraded Indonesia's sovereign ratings to investment grade on Friday, a long-awaited move that sent Jakarta shares soaring on hopes it could spur a wave of investment into Southeast Asia's biggest economy. Fund managers say the investment grade from S&P,...

  • *All major agencies now rate Indonesia investment grade. JAKARTA, May 19- Rating agency Standard& Poor's upgraded Indonesia's sovereign bond ratings to investment grade on Friday, saying the move reflected its assessment of reduced risks to the country's fiscal position. Fund managers say the investment grade from S&P, which matches the ratings awarded by...

  • TOKYO, May 19- Japan tightened regulations on high-frequency trading this week, passing into law measures that will require HFT firms to register with regulators. The growing presence of HFT on the Tokyo Stock Exchange has raised concerns high-speed trading could destabilize markets and leave retail investors at a disadvantage. HFT accounted for about 70...

  • JAKARTA, May 19- Rating agency Standard& Poor's upgraded Indonesia's sovereign bond ratings to investment grade on Friday, saying the move reflected its assessment of reduced risks to the country's fiscal position. S&P has upgraded Indonesia's sovereign credit outlook to BBB-, which is an investment grade, up from BB+, junk status. It gave Indonesia a positive...

  • *OTC is cheaper alternative to a U.S. stock exchange listing. TEL AVIV, May 17- U.S. financial trading platform OTC Markets said it hopes to attract up to 18 Israeli companies this year, double the number last year, as they seek a cheaper alternative to listing on traditional exchanges such as Nasdaq. The average cost of listing on OTC is around $250,000, compared to...

  • LONDON, May 17- Below is a list of countries that are rated triple-A, the highest grade, by at least two of the three big credit rating agencies, Standard& Poor's, Moody's and Fitch. S&P kept a' negative outlook' on Australia's triple-A rating on Wednesday. S&P Moody's Fitch Australia AAA negative Aaa stable AAA stable Canada AAA stable Aaa stable AAA stable Denmark AAA...

  • NYSE has said NYSE American will have a similar model as IEX Group's Investors' Exchange, including a 350- microsecond delay, except it will have electronic market makers with obligations to ease the trading of NYSE American-listed stocks. IEX has a market share of 2.33 percent of U.S. stock trading, while NYSE MKT has a share of 0.19 percent so far this month,...

  • NEW YORK, May 16- Nasdaq Inc on Tuesday launched a service to help fund managers and quantitative traders better use data from social media, central bank announcements, retail sentiment and other sources to improve trading profits. The Nasdaq Analytics Hub will use machine intelligence, a subset of artificial intelligence, to derive signals from end-of-day...

  • SAO PAULO, May 12- B3 Bolsa Balcão Brasil SA, Brazil's largest exchange operator, posted a 56 percent drop in quarterly net income on Friday due to the costs of a merger creating the company out of rivals BM&FBovespa SA and Cetip SA Mercados Organizados. Net profit fell from a year earlier to 209 million reais, far below a Thomson Reuters consensus of 504 million...