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Nasdaq reorganizes market services to boost global competitiveness

By John McCrank NEW YORK (Reuters) - Nasdaq OMX Group <NDAQ.O> said on Monday it is reorganizing its market services business to better compete globally in fixed income, currencies, derivatives and other asset classes. Hans-Ole Jochumsen, the exchange operator's top executive in Europe, will take on an expanded role that includes oversight of transactions, clearing and settlement services for the United States and Europe.

Nasdaq to roll out 'kill switch' to help catch trading errors

NEW YORK (Reuters) - Nasdaq OMX Group <NDAQ.O> plans to roll out a "kill switch" that would cut off trading of its member firms when pre-set limits are breached, the exchange operator said in a regulatory filing. Controlling risk has been a major focus for the securities industry in the wake of high-profile snafus like the August 2012 glitch at Knight Capital Group, now a part of KCG Holdings Inc <KCG.N>, that sent a flood of errant orders to the NYSE, nearly sank the firm, and led to its takeover by rival Getco.

Nasdaq's plan for cutting prices infuriates rivals

By John McCrank NEW YORK (Reuters) - Nasdaq OMX Group <NDAQ.O> is pushing to cut the fees it charges big customers that trade on several of its exchanges, a move that is arousing the attention of regulators and triggering accusations from rivals that the company is seeking to stifle competition. In late October, Nasdaq told U.S. regulators that it wanted to offer cheaper trading for customers of one of its options exchanges, if their total volume of trading with all three of Nasdaq's options exchanges was substantial.

Exclusive: Nasdaq pushes to speed up talks over market fixes

By John McCrank NEW YORK (Reuters) - Nasdaq OMX Group is prepared to walk away from running the data processor that was at the center of a three-hour trading halt in August, in a sign of its frustration with the pace of talks over implementing fixes for the system, according to documents seen by Reuters. The fairness and transparency of the U.S. equity markets depends in part on three "securities information processors" (SIPs) that provide investors with the same stock quotes and last sale prices, across venues.

Nasdaq plans "dark pool" for U.S. Treasuries

By John McCrank NEW YORK (Reuters) - Nasdaq OMX Group <NDAQ.O> plans to create a so-called dark pool for electronic U.S. Treasuries trading where buying and selling interest is not revealed, even on a post-trade basis, the company's chief executive officer said on Tuesday. Nasdaq, which runs the No. 2 U.S. equities exchange, closed its $750 million acquisition of eSpeed, an electronic Treasuries-trading platform formerly run by BGC Partners Inc <BGCP.O>, in July.

Nasdaq OMX says trading halt was partly within its control, absolves high-speed trading

NEW YORK, N.Y. - A three-hour trading outage on the Nasdaq last week was partly the result of issues within the company's control, the Nasdaq OMX Group said Thursday. In a statement, the company detailed some of its early findings from an internal review. The Nasdaq blamed "a confluence of unprecedented events" that overwhelmed the exchange's system for handling price information. It said the catalyst was a torrent of messages from a trading platform run by the New York Stock Exchange, Arca.

Nasdaq to take on greater policing role on its stock exchange

By John McCrank NEW YORK (Reuters) - Nasdaq OMX Group plans to assume a greater role in the policing of its U.S. stock exchange, according to a regulatory filing, in a move that follows calls by Wall Street for an end to the self-regulatory status of exchanges. As self-regulatory organizations (SROs), exchanges are responsible for monitoring and enforcing their members' compliance with securities laws and exchange rules.

UBS demands Nasdaq fully cover its losses from Facebook IPO

NEW YORK (Reuters) - UBS AG said on Monday it has filed an arbitration demand against Nasdaq OMX Group over losses from Facebook Inc's glitch-ridden market debut in May. UBS said it is seeking to be fully compensated for its losses, which it previously said topped $350 million (230.5 million pounds), from the initial public offering.

U.S. approves Nasdaq payback plan for Facebook IPO, UBS unhappy

By John McCrank and Jennifer Saba (Reuters) - U.S. regulators approved Nasdaq OMX Group's $62 million (40.83 million pounds) compensation plan for firms that lost money in Facebook Inc's glitch-ridden market debut, a victory for the exchange operator that also set the stage for potential lawsuits from firms seeking more.

LCH.Clearnet to raise 300 mln stg, Nasdaq to up stake - report

Feb 27 (Reuters) - LCH.Clearnet will raise 300 million pounds ($454 million) through a capital raising in the coming days that is expected to see exchange operator Nasdaq OMX Group raise its minority stake in the trans-Atlantic clearing house, Sky News reported on Wednesday. LCH Clearnet is in advanced stages of finalising the fund-raising as part of a takeover deal by the London Stock Exchange Group, Sky News said on its website.
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