EXCHANGE NEWSWIRE 8/15
LCH.Clearnet acquired IDCG from NDAQ and certain other investors. According to transaction terms, LCH.Clearnet issued NDAQ ordinary shares of LCH.Clearnet valued at EUR 19 per share, resulting in NDAQ having a pro-forma ownership of 3.7% in LCH.Clearnet. IDCG is now a US subsidiary of LCH.Clearnet and was renamed LCH.Clearnet LLC, and is expected to be launched in 4Q12. This acquisition will allow LCH.Clearnet to operate a US-domiciled CCO, subject to regulatory approval.
BATS launched the Retail Price Improvement (RPI) program on its BYX Exchange as a one-year pilot program, subject to SEC approval. The exchange will allow retail orders to execute against price improving liquidity that is not an RPI order in strict price/time priority. BATS will allow retail orders to execute at more than one price so that the retail order realizes the maximum price improvement RPI orders are willing to offer.
BATS aims to ask SEC for permission to price stocks in fractions of a penny, Bloomberg Businessweek reported.