Equity Research Desk
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04/26 Exchange Newswire


CME reported 1Q18 adj EPS of $1.86 (+65% q/q, +52% y/y), 2c below our estimate and 1c above consensus’. GAAP EPS was $1.76. Revenues were $1.11b (+23% q/q, +19% y/y), and adjusted OpEx was $323m (-1% q/q, +7% y/y). CME maintains its 2018 OpEx guidance at to $1.10b-$1.105b, and tax rate at 24.5%.


DB1 reported 1Q18 adj. EPS of €1.45 (+39% q/q, +17% y/y), 1c above our estimate and 5c above consensus. GAAP EPS was €1.34. Revenues were €692m (+8% q/q, +11% y/y) and adjusted OpEx was €295m (-14% q/q, +5% y/y).


BME reported 1Q18 EPS of €0.46 (-3.6% y/y), on revenues of €79m (-3% y/y) and OpEx of €28.m (+2.2% y/y). BME will distribute a complementary dividend of € 0.78 per share, bringing 2018 distribution to € 1.78, or a 96% payout ratio.


Oslo Bors reported 1Q18 EPS before amortisations and write-down of NOK 2.16 (+6% y/y). Revenues were NOK 264m (+5% y/y) and OpEx was NOK143m (+3.7% y/y). Oslo Børs will issue a NOK 450m 5 year inaugural senior unsecured bond. The proceeds from the contemplated bond issue will be used for an extraordinary dividend distribution to shareholders.


DB1 presented the Roadmap 2020, where DB1 aims to accelerate growth and increase investments in new technologies, increasing organic revenues to at least 5% per year, and net profit to about 10%-15%. DB1 is reducing structural cost by €100m until end of 2020.


DB1 appointed Thomas Book and Stephan Leithner Members of the Executive Board, due to the forthcoming retirement of Andreas Preuss and Jeffrey Tessler


NDAQ CEO Adena Friedman said the group is open to becoming cryptocurrency exchange over time.


ICE : trading in Amazon and Alphabet shares on the NYSE was halted after a technical glitch.


CBOE: AMF Chairman Robert Ophèle expressed concerns about transparency levels at CBOE Europe’s periodic auctions, according to FT. “Practically no pre-trade transparency and market participants are offered no means to understand the order book. Contribution to price discovery is near nil; auction duration is an unknown.” “One could be led to think that many of the trades done via periodic auctions are actually pre-arranged trades. Quite obviously, this market model deserves further attention and analysis.”


HKEX appointed Laura Cha May-Lung as the Chairman of the Board for a term to be coterminous with her directorship.


LSE : ELITE welcomes eleven new UK companies, bringing total number of UK companies to over 130 and 800 overall.


ENX launched commitments of traders  (COT) reports in commodity derivatives to comply with new EU regulations. Reported by Reuters.


SGX : Baltic Exchange plans to launch new indexes for grains, gas and potentially air freight in its biggest shake-up for more than a decade, according to Reuters.


MOEX : NSD received the status of authorized depository of Belarus which allows NSD to record the rights to government securities issued by the Ministry of Finance on behalf of the Republic of Belarus.


Shanghai SE introduced new temporary rules governing tri-party “pledge-style” bond repos to further develop China’s bond market, according to Reuters. Approved financial institutions, securities investment funds, and commercial banks’ wealth management products may participate in the tri-party repo agreements. Senior tranches of asset-backed securities can be used as collateral for the first time.


BSE : India Inx plans to launch a platform to directly deal in shares of companies listed across the globe, according to Business Standard.


Warsaw SE (GPW) Management Board requested an opinion to the Supervisory Board on motion concerning distribution of the 2017 profit, providing a payment of a dividend of PLN 92.3m, or PLN 2.20 per share.


Goldman Sachs will join global banks, including JPMorgan and Citigroup, on a platform for structured notes or repack bonds issued through a Luxembourg-based special purpose vehicle known as the Single Platform Investment Repackaging Entity SA, or Spire, according to Bloomberg.


CFTC Chairman Giancarlo plans an overhaul of swap trading rules to boost liquidity.


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