Tuesday 16th September 2014
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MONDAY SEPTEMBER 15th TICKER: Last week UK equities indices fell with the FTSE 100 down 0.70%. The FTSE 250 was down 1.30%; and the FTSE All-Share was down 0.80%. - London’s IPO market has bounced back in 2014, as the year shapes up to bring in a bumper crop of flotations on the UK main market. New research by Capita Asset Services shows a dramatic uplift in the number of companies making their debut on the London Stock Exchange, with more companies taking to the stage than in any year since the recession - European equity trading venue BATS Chi-X Europe has signed a partnership deal with BX Swiss (BX), Switzerland’s only independent exchange, in which the pair will work together on cross listings for exchange-traded funds and trade reporting - CME has become the third entity to file an application for recognition as a trade repository in Québec, joining DTCC Data Repository and ICE Trade Vault - TheCityUK and the China-Britain Business Council (CBBC) have deepened their engagement in China’s economic reform plans, presenting a new series of expert working papers on the approaches China could take to develop its Free Trade Zone - Paris-based alternative investment firm Silver Time Partners has selected Caceis as the asset servicing partner for its first Luxembourg UCITS “Silver Time LOQ Equity Sicav’ fund which launched at the start of September - Private equity fund managers are not doing enough to appease their institutional backers with regards to the fees they charge, according to new research from Preqin - Societe Generale Securities Services has been mandated by CILOGER, a French real estate asset manager, to provide depositary and regulatory reporting services within the framework of the Alternative Investment Funds Management Directive (AIFMD) - The Financial Industry Regulatory Authority (FINRA) has issued a new Investor Alert called ‘Frontier Funds—Travel With’ Care cautioning investors interested in funds that invest in frontier markets to carefully consider the heightened risks.

Latest News

  • Monday, 15 September 2014 Global growth held back by slow eurozone, OECD says
    A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the Organisation for Economic Co-operation and Development’s (OECD’s) latest Interim Economic Assessment. Read more...
  • Monday, 15 September 2014 Amundi strengthens US fixed income team
    Asset manager Amundi has recruited a new head of International High Yield Bond Management, Kenneth Monaghan, who joins Amundi Smith Breeden, the firm’s fixed income management centre in the US. Read more...
  • Monday, 15 September 2014 Waverton reports 30% rise in assets under management
    Waverton Investment Management (Waverton) has reported a 30% rise in assets under management in the past twelve months following its acquisition from Credit Suisse last year by Bermuda-based Somers Limited. Read more...
  • Monday, 15 September 2014 Tabb brings ‘clarity’ to US equity market trade execution
    Capital markets research house TABB Group has launched an exclusive US equities market trading venue and routing analytics (VRA) service. Dubbed Clarity, the platform is designed to help money managers, institutional investors, brokers and trading venues standardise, gather, aggregate and analyse execution information and data across all major brokers. Read more...
  • Monday, 15 September 2014 First State targets global bond and currency markets
    First State Investments has expanded its fixed income fund range by launched a new vehicle offering exposure to global bond and currency markets. Read more...
  • Monday, 15 September 2014 Schroders multi-asset business gets European product head
    Schroders has appointed Henriette Bergh to a newly created role of head of Europe product and manager solutions. Bergh, who joins the asset manager from Morgan Stanley, will be responsible for Schroders' multi-asset product management and strategy across Europe. Read more...
  • Monday, 15 September 2014 London Metal Exchange steps up China expansion
    London Metal Exchange (LME) and its clearing house LME Clear have signed an agreement with China Construction Bank (CCB) which will see the firms work on the development of new products, joint publicity and marketing. Read more...
  • Monday, 15 September 2014 Europe taskforce set to tackle cybercrime
    A new taskforce has been launched to help fight against cybercrime across Europe. The Joint Cybercrime Action Taskforce (J-CAT) is being piloted for six months and will coordinate international investigations with partners working to take action against key cybercrime threats and top targets, such as underground forums and malware, including banking Trojans. Read more...
  • Monday, 15 September 2014 Pirum partners with Markit to boost securities data
    Markit has signed partnership deal with post-trade specialist Pirum designed to help boost the timeliness and transparency of information held in Markit’s securities finance data set. Read more...
  • Monday, 15 September 2014 BATS Chi-X Europe links up with Swiss exchange
    European equity trading venue BATS Chi-X Europe has signed a partnership deal with BX Swiss (BX), Switzerland’s only independent exchange, in which the pair will work together on cross listings for exchange-traded funds and trade reporting. Read more...
  • Monday, 15 September 2014 Australia grants first trade repository licence
    The Australia Securities and Investment Commission (ASIC) has granted a derivative trade repository licence to DTCC Derivatives Repository (Singapore). Read more...
  • Monday, 15 September 2014 London’s IPO market on the up, UK firms set to break records
    London’s IPO market has bounced back in 2014, as the year shapes up to bring in a bumper crop of flotations on the UK main market. New research by Capita Asset Services shows a dramatic uplift in the number of companies making their debut on the London Stock Exchange, with more companies taking to the stage than in any year since the recession. Read more...

MORE NEWS...
Key Stories from FTSE Global Markets

Negative events in July could not but have an impact on the primary debt market. The sanctions imposed by Europe and the USA against major Russian banks and companies have led to the sale of Russian assets and negated the issuers’ activity this summer. Ministry of Finance and regions, which placed successfully in June and early July, refused to attract financing at high rates in the second half of the month. Corporate borrowers in view of the changes in legislation have also been forced to postpone the placement. The few issuers who managed to enter the market were the ones who prepared issue documents in advance and who ventured to test the new issue format.

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Over the last decade, there has been a significant improvement in the securities trade execution times. These times have decreased to micro seconds and advances in technologies such as laser link are trying to further reduce the times. However, the settlement of the executed trade takes days to exchange cash for securities. Depending on the type of security and trading venue, the settlement day will differ. Rakesh Jangili, senior consultant, Capital Markets Solutions Group, Virtusa, looks at the settlement cycles of different markets and assesses the likelihood of harmonisation of settlement cycles across the globe.

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Monday, 04 August 2014

A cultural shift to compliance

Since its formation in 2013, the UK’s Financial Conduct Authority has made it clear that it is less interested in routine compliance processes. The FCA’s focus is now on how a firm’s compliance department or senior management team, training and competence (T&C) programmes and broader compliance culture deliver the best customer experience and market outcomes, writes Neil Herbert, director of HRComply.

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Bucking the perception that cheaper funds fetch the fattest returns, higher-priced active managers—who strive to beat benchmark indices using a hand-picked mix of assets—have been forced to sharpen their skills to prove that investors really can get what they pay for over the long haul. From Boston, Dave Simons reports.

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Monday, 04 August 2014

Investing in the good earth

After years of being in the margins, climate change is finally having its day on the page thanks mainly to President Barack Obama’s vocal support for the Environmental Protection Agency’s (EPA’s) announcement that it would propose limits on carbon emissions from power plants. Climate change industry supporters have been waiting years for the US to take the lead in the climate change management debate and in June their wish was granted; particularly as other high carbon emitters, such as China are now firmly on the emissions capping bandwagon. Has the new found enthusiasm for the wellbeing of the Earth come just in time or too late to really make a difference? If climate change can be delayed or averted, which firms are in the front line to benefit from a more munificent approach to climate change management by G20 governments? Lynn Strongin Dodds reports on the hope and the glory.

 

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Blogs

  • Tuesday, 16 September 2014 08:31 The calm before the carnage
    European equities continue to tread water ahead of this weeks risk events. Yesterday’s flat session is likely to be symptomatic of the sessions in the…
  • Thursday, 11 September 2014 17:28 France must improve supply before demand
    The preference for increased purchasing power Several French politicians and economists continue to reject the idea that companies’ production costs must be reduced – believing…

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