IOB Newsletter- December 2014
FESE1/ FESE 2 Quarterly tick size review: Novatek moving FESE Table
Based on the average daily turnover and average daily time-weighted spread observed in the latest review period (22 September to 28 November 2014), one IOB security will move from FESE table 1 to FESE Table 2 for tick size determination.
As a reminder of the published criteria:
FESE 2 to 1 selection criteria: > $30m average daily order book turnover and < 20 bps TWS
FESE 1 to 2 de-selection criteria:< $30m average daily order book turnover and > 10 bps TWS
Please see the summary informing this decision below. Whilst Rosneft has also dropped below $30m ADT, it still has an average spread of below 10bps.
|
TIDM |
Name |
ISIN |
Average Daily Order Book Turnover |
Average time-weighted Spread |
Current FESE Table |
New FESE Table |
|
OGZD |
Gazprom |
US3682872078 |
$113.7m |
4.78 |
1 |
1 |
|
SBER |
SBERBANK |
US80585Y3080 |
$95.3m |
6.42 |
1 |
1 |
|
LKOD |
LUKOIL ADR |
US6778621044 |
$90.0m |
5.52 |
1 |
1 |
|
MNOD |
MMC NORILSK ADR |
US46626D1081 |
$54.1m |
7.01 |
1 |
1 |
|
MGNT |
MAGNIT |
US55953Q2021 |
$43.2m |
10.47 |
1 |
1 |
|
NVTK |
NOVATEK REGS |
US6698881090 |
$29.3m |
12.89 |
1 |
2 |
|
ROSN |
ROSNEFT |
US67812M2070 |
$27.6m |
7.02 |
1 |
1 |
|
SMSN |
SAMSUNG EL.GDR |
US7960508882 |
$23.4m |
11.04 |
2 |
2 |
|
URKA |
URALKALI |
US91688E2063 |
$13.7m |
12.72 |
2 |
2 |
SEC Class No-action Relief now available for LSEDM eligible single stock and index options
Following an application to the SEC, London Stock Exchange Derivatives Market announced, on 20 November 2014, that it has received class no-action relief status for its UK and IOB stock, depositary receipt and index options. This new status enables London Stock Exchange Derivatives Market, and its eligible members, to offer certain US registered broker-dealers and large financial institutions these products, further enhancing the market's global offering. More details available here>>
New Product Launch - Cash settled IOB DR options and futures, cash settled UK stock options
Cash settled IOB DR options and futures as well as cash settled UK stock options are now available for Trade Reporting only on London Stock Exchange Derivatives Market. Read the Market notice >>
IOB Equity trading in November 2014
IOB cash equity Average Daily Turnover was $530 million
IOB Events
London Stock Exchange Drinks Reception in Moscow, 27 November 2014: The event was an opportunity to meet the IOB and Primary Markets Team, as well as network with other industry professionals. Attendees included Corporates, Banks, Brokers and Buy-side. Find out more about the Event>>
Membership
At the end of November 2014, LSE has 359 member firms; 91 members have trading access to IOB (CCP)
There were no new member firms in November