2. CAT Gets Life.<br><br>
As the SEC completes its docket of post-Flash Crash rulemaking placing limits on the up and down movement of stocks in a given day, for instance its imposing list of to-dos from the Dodd-Frank Wall Street Reform Act of 2010 dont get done. The presidential campaigns guarantee it. All that gets breathing by years end is the Consolidated Audit Trail: Chairman Mary Schapiros plan for real-time reporting of all stock market transactions.
3. DirectEdge Gets Traded.<br><br>
The European Union leans on NYSE Euronext and Deutsche Boerse to spin off either NYSE Liffe or Eurex, to keep derivatives trading competitive on the continent. But the U.S. Department of Justices required remedy divestiture of DirectEdge happens regardless of the final outcome. DirectEdge management successfully argues for a sale of Eurexs 31.5% stake. The buyer is a foreign exchange in search of a U.S. beachhead.
4. Maple-TMX: All Sap, No Syrup.<br><br>
The Maple Acquisition Group a consortium of thirteen large financial institutions, including four of the big six banks doesnt complete its hostile takeover of TMX Group, operators of the Toronto and Montreal exchanges. The Canadian Competition Bureau intervenes, based on its discomfort with a near-monopoly in equity listings, equity trading, equity clearing, fixed income clearing, derivative clearing, derivative trading, and equity trading data distribution (whew!). This would be created by the combination of TMX and Maples members stakes in Alpha (an alternative marketplace) and CDS (an equities and fixed income clearinghouse).