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...As part of the deal Nasdaq will double its stake in The Options Clearing Corporation, the world’s largest equity derivatives clearing corporation, to 40 per cent....
...Corporation, to 40 per cent....
...The move will not change its tax registration in Ireland, where it pays 12.5 per cent in corporation tax, a rate that attracted companies including Shire and WPP, the advertising group, to redomicile....
...Going by Tuesday’s volume figures from the Options Clearing Corporation, the combined markets would have a 42 per cent share, surpassing Nasdaq OMX’s 27.5 per cent and CBOE’s 26 per cent....
...The ISE 100 index rose 0.4 per cent to 66,719.67. But the session saw low volumes, with less than half the average number of trades being placed on the Eurofirst index....
...Volumes so far this year are flat compared with last year, says the Options Clearing Corporation, which clears for all seven US options exchanges....
...Clearing Corporation....
...After one of the most volatile trading weeks in the history of Wall Street, The Depository Trust & Clearing Corporation (DTCC) processed a record 209m sides of a trade on Friday October 10 – a 15 per cent...
...Gary Katz, ISE chief executive, said only 16 of Eurex’s 400 direct exchange members were trading on the ISE. ISE has experienced huge growth in recent years....
...In the US, options trading is fungible, with all exchanges clearing through the user-owned Options Clearing Corporation....
...He said talks with ISE had been taking place for several months, adding that there would be no ownership relationship between TSX and ISE and that Dex would be a Canadian corporation with operational centres...
...ISE used its “blank cheque” to leverage a $600m buy-out of Navios in 2005 against competition from Greek and foreign shipowners....
...The ISE announced its intention to trade options on SPDRs and Diamonds ETFs in 2005. S&P and Dow Jones brought a lawsuit against the ISE and the Options Clearing Corporation....
...Bruce Goldberg, chief marketing officer at the ISE, likens the situation to a nine-inning baseball game: “We are in the third inning of growth,” he says....
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