Monday 4th May 2015
NEWS TICKER: FRIDAY, MAY IST: MYOB will return on Monday next to the ASX, selling 228.3mshares at $3.65 in the company’s IPO. The company raised AUD833.1m, giving it an implied market capitalisation of AUD2.13bn. Bain Capital will retain 58% of the firm’s stock. “We saw a significant level of participation from eligible retail noteholders in the offer, with approximately 57% of holders exchanging their notes into shares. We see this wide range of investor interest as a strong vote of confidence in MYOB.” MYOB chairman Justin Milne says. ASX trading in MYOB shares is set to begin on 4 May under the code MYO. MYOB was listed on exchange from 1999 to 2009 – The volume of US municipal bonds soared by 42.1% in April, according to Thomson Reuters’ data; the ninth straight monthly gain. Issuers brought $37.76bn to market in 1,210 issues, up from $26.58bn in 939 issues in April 2014. Low interest rates, and the reluctance of the US Federal Reserve to raise rates over the near term has resulted in a dash by municipal issuers anxious to secure low cost funding as many refinance their debts. Other than refinancing, new issuance per se looks to be tailing off. New money transactions declined by 5.6% to $12.68bn from $13.43bn, while combined refunding and new money transactions increased 42.5% to $7.17bn from $5.03bn in April last year. Negotiated bond sales increased 62.4% to $28.97bn from $17.84bn, competitive deals rose 15.4% to $8.62bn from $7.47 billion and private placements plunged 87.2% to $162mn from $1.26bn. Sales of revenue bonds increased 49.9% to $22.84bn in 421 deals from $15.24bn in 306 deals. General obligation bond volume jumped 29.9% to $14.73bn in 788 issues from $11.34bn in 633 issues. Tax-exempt deals were up 42.4% to $33.88bn, while taxable deals were 24% higher to $3.30bn.Fixed-rate issues increased to $36.75bn in 1,167 issues from $24.85bn in 891 issues the previous year. The volume of deals with bond insurance more than doubled in par amount wrapped to $2.54bn in 161 deals from $1.06bn in 104 transactions. California claimed the top spot among states with $21.47bn of issuance thus far in 2015, up from its No. 2 ranking in the same period of last year with $12.03bn. Texas dropped from first to second with $17.85bn, an increase from $12.31bn the year before. New York remained in third place with $11.91bn so far this year, up from $10.29bn year to date - This morning Lloyds Banking Group said that in Q1 it had made a net profit of £913m and underlying profit was up 21% on the same period last year, to £2.2bn. Moreover, the group said that it was raising its net interest income target above the original target of 2.55%. Graham Spooner, investment research analyst at The Share Centre, says: “These results are good news for investors as they are ahead of forecasts and demonstrate a continued improvement in the company’s performance. The part UK government owned bank additionally reported that it has been benefitting from a resurgent British economy which has led to reduced bad loans and fuelled demand for mortgages. Lloyds announced its first dividend in February since being bailed out and investors should acknowledge that the increasing signs of recovery will boost hopes for a significant dividend growth in the near future. Analysts have become a little more positive on the group and its long term restructuring plans, which appear to be happening faster than expectations. However … the sector [remains] under pressure, as a result of regulatory issues and ahead of the next government sale.” - The Straits Times Index (STI) ended 0.24 points or 0.01% higher to 3487.39, taking the year-to-date performance to +3.63%. The top active stocks today were SingTel, which declined 0.23%, OCBC Bank, which declined 1.84%, DBS, which gained 0.19%, UOB, which gained 0.29% and Keppel Corp, with a 1.02% fall. The FTSE ST Mid Cap Index gained 0.47%, while the FTSE ST Small Cap Index rose 0.18%. The outperforming sectors today were represented by the FTSE ST Real Estate Holding and Development Index, which rose 1.00%. The two biggest stocks of the Index - Hongkong Land Holdings and Global Logistic Properties – ended 2.02% higher and 2.23% higher respectively. The underperforming sector was the FTSE ST Consumer Goods Index, which slipped 1.04%. Wilmar International shares remained unchanged and Thai Beverage declined 3.38%.

SIX Swiss Exchange upgrades platform

Monday, 23 April 2012
SIX Swiss Exchange upgrades platform SIX Swiss Exchange has successfully completed the upgrade of its tradingplatform. The upgrade was developed in collaboration with NASDAQ OMX.At the same time, SIX Swiss Exchange is launching a co-location servicefor the new platform in association with Equinix. Starting today, SIX SwissExchange offers participants the most modern trading technology in theworld. http://www.ftseglobalmarkets.com/

SIX Swiss Exchange has successfully completed the upgrade of its trading
platform. The upgrade was developed in collaboration with NASDAQ OMX.
At the same time, SIX Swiss Exchange is launching a co-location service
for the new platform in association with Equinix. Starting today, SIX Swiss
Exchange offers participants the most modern trading technology in the
world.

SIX Swiss Exchange has successfully completed the upgrade of its SWXess
trading platform with the X-stream INET technology developed by NASDAQ
OMX. SIX Swiss Exchange is the first exchange globally to combine the triedand-
tested capabilities of the X-stream platform with INET trading technology –
the world's fastest.

On April 23rd SIX Swiss Exchange launched equity trading using the very latest
technology. With this step, SIX Swiss Exchange is investing in the future and in
the international growth of Switzerland as a highly successful trading center.
Together with the new co-location service, the system upgrade means that much
higher order volumes (capacity) can be matched and executed in a significantly
shorter time (latency).



This is supported by the efficient and standardised trading protocols, which are also in use at various trading venues. Tests under trading conditions have shown that average round-trip latency is just 37 microseconds.

According to a Swiss Exchange release, each and every participant benefits from this low latency. Participants can put their investment decisions into effect and adjust and reduce their investment risk even faster. Rapid trading, and market data that is distributed with equally low latency, are also key to participants investing or market-making in ETFs, ETPs or structured products. The latest enhancements allow price movements in
underlyings to be identified more quickly, and the corresponding investment and
market-making decisions to be executed more effectively, says the exchange.

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