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Diversified Financial Services Specialized Finance

  • *To start pilot listings of foreign firms as soon as 2017. *Wants to become regional center for equity issuance. RIYADH, April 27- Saudi Arabia aims to start listing foreign companies on its stock market as soon as this year as it seeks to become a regional center for equity issuance, said Mohammed Abdullah Elkuwaiz, vice-chairman of the Capital Market Authority.

  • FRANKFURT, April 26- Deutsche Boerse delivered a sharp rise in net profit in the first quarter and said it would buy back shares as it sought to appease disgruntled investors following its failed merger attempt with London Stock Exchange Group. "Thanks to our diversified business model and effective cost management we were able to compensate low equity market...

  • April 26- Nasdaq Inc posted a 28 percent rise in quarterly profit as the transatlantic exchange operator benefited from its acquisitions. Nasdaq's net income increased to $169 million, or 99 cents per share, in the first quarter ended March 31, from $132 million, or 78 cents per share, a year earlier. Revenue rose 9.2 percent to $583 million.

  • The failure of LSE's third attempt to combine with Deutsche Boerse has reignited speculation that an overseas exchange may make a fresh bid for the British firm, with NYSE- owner ICE having briefly expressed interest last year. The company, which owns Borsa Italiana and the London Stock Exchange, said it was well placed to benefit from the introduction of MiFID...

  • LONDON, April 21- Hong Kong Exchanges and Clearing Ltd on Friday appointed Matt Chamberlain chief executive of the London Metal Exchange, the world's largest and oldest metals market. HKEx also said it had appointed James Proudlock managing director and head of market development, reporting to Chamberlain and Adrian Farnham, the head of the LME's clearing...

  • DETROIT, April 12,- Hedge fund manager David Einhorn told Reuters that a key issue in his proxy fight with General Motors Co is the automaker's refusal to allow credit rating agencies to formally rate his plan to restructure GM shares. Einhorn said in an interview that GM has refused to allow Greenlight to present to credit rating agencies its proposal to split GM...

  • *LSE sees opportunity in Middle East. LONDON, April 11- The London Stock Exchange is targeting more listings from companies in the Middle East, following a dearth of initial public offerings in the aftermath of Britain's vote to leave the European Union. The exchange is now turning to the Middle East, an executive said, seeking to convince investors it is...

  • TORONTO, April 10- Canada's main stock index ended higher on Monday, with energy stocks leading broad gains as the price of oil rose. The heavyweight energy group climbed 1.6 percent, with Canadian Natural Resources Ltd adding 1.6 percent to C $45.31 and Encana Corp up 3 percent at C $16.02, as a shutdown at Libya's largest oilfield and political tensions in the...

  • TORONTO, April 10- Canada's main stock index was barely higher in morning trade on Monday, helped by energy stocks as the price of oil rose, while miners broadly weighed. The heavyweight energy group climbed 1.2 percent, with Canadian Natural Resources Ltd adding 1.6 percent to C $45.33 and Encana Corp up 2.2 percent at C $15.89, as a shutdown at Libya's largest...

  • SHANGHAI, April 8- In Beijing's latest push to attract foreign investment into the country's $9 trillion bond market, China's state-owned clearing house said on Saturday that it will work with Canada's TMX Group to expedite cross-border investments. Shanghai Clearing House, supervised by China's central bank, said in a statement that by exploring ways to...

  • TORONTO, April 6- The Toronto Stock Exchange operator, TMX Group Ltd, said on Thursday it has developed a blockchain-based prototype for electronic shareholder voting, the latest effort by an exchange operator to leverage the technology to try to solve an industry problem. "This is something that's been plaguing us for quite some time," John Lee, vice president of...

  • TORONTO, April 6- The Toronto Stock Exchange operator, TMX Group Ltd, said on Thursday it has developed a blockchain-based prototype for electronic shareholder voting, the latest effort by an exchange operator to leverage the technology to try to solve an industry problem. "This is something that's been plaguing us for quite some time," John Lee, vice president of...

  • NEW YORK, April 6- Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. Shale has since emerged as a resilient rival to the Organization of the Petroleum Exporting Countries...

  • NEW YORK, April 6- Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. Shale has since emerged as a resilient rival to the Organization of the Petroleum Exporting Countries...

  • LONDON, April 4- The European Union's securities watchdog has proposed tougher conditions on the use of credit ratings compiled outside the bloc, potentially making it harder for rating agencies in Britain to offer their services in the EU after Brexit. London hosts the world's "Big Three" rating agencies, Moody's, Standard& Poor's, and Fitch, which dominate...

  • The SEC is expected to approve or reject their proposals in the coming weeks. The SEC approved the market's first speed bump last year, but rules around intentionally slowing down trades are vague and it is difficult to predict which, if any, of the proposals will pass. SEC staff are scrutinizing how each exchange justifies its plans, said a person familiar with the...

  • PRETORIA, April 4- South Africa's new Finance Minister Malusi Gigaba said on Tuesday the credit rating downgrade by S&P meant the government had to pay even greater focus on growing the economy, and that he would address the issues raised by the rating agencies. Gigaba said South Africa's rand denominated debt was still rated as investment grade and that the...

  • CME took emergency action to allow bigger-than-normal price swings in its interest rate futures on Election Day on Tuesday.

  • The case for merging the London and German stock exchanges has strengthened since the Brexit vote, a Bundesbank board member said on Wednesday.

  • The boards of the London Stock Exchange and Deutsche Boerse confirmed on Tuesday that they are discussing a potential merger.

    London Stock Exchange Group said its planned $30 billion merger with German rival Deutsche Boerse could result in 1,250 job cuts across the combined group.