The news we’re reading this week includes –
- Singapore exchange to increase members’ derivatives fees – Financial Times, 11th December
The Singapore Exchange (SGX) is to increase fees as much as 10 times for derivatives members from 2018 following upgrade to the technology it uses. From January, annual fees for proprietary trading members, like big banks with market access, will increase from S$2,000 to as much as S$25,000. Larger members, such as international banks will see the biggest increase, whilst individual traders will be subject to a smaller change.
With derivatives trading accounting for almost 40 per cent of SGX’s total income, over the past decade, it has attempted to change from a limited number of products to a broader range of derivatives, such as iron ore.
- Deutsche Boerse: MiFID II presents issuers with challengers in research – Automated Trader, 14th November
A joint paper conducted by Deutsche Boerse and the German Investment Funds Association (BVI), the German Share Institute (DAI) the German Investor Relations Association (DIRK) and the German Society of Investment Analysts and Asset Managers (DVFA) has found that the rules on the provision of research services will fundamentally change and particularly affect SMEs.
When MiFID II comes into effect on 3rd January 2018, issuers will have to undertake extra effort in order to ensure their securities are analysed as well as assuring that the content of the analysis reaches investors by ensuring contact between investors and issuers.
Whilst this won’t impact larger companies, it’s expected to have a significant impact on those small and medium enterprises in which building and maintaining relationships is of high importance.
- EBF to update European master agreement –net, 13th December
- Goldman Sachs plans MiFID venue for bonds, ETFs, derivatives – Bloomberg, 12th December