Tuesday 21st October 2014
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TUESDAY TICKER: OCTOBER 21ST 2014: The governor of the Bank of England, Mark Carney, has launched a probe into the causes of yesterday’s disruption to Real-time gross settlement (RTGS), the bank's system for settling high value payments - A major loophole in the UK’s criminal records checking system means that IT staff, including those working in critical functions within financial services firms are not permitted to be vetted for fraud, says Simon Culhane, Chartered FCSI and chief executive officer of the Chartered Institute for Securities & Investment (CISI) - Employment in financial and related professional services in London reached a record high of 703,900 in June 2014– 11%, according to TheCityUK’s October 2014 London Employment Survey - LSE-backed multilateral trading facility Turquoise has launched Block Discovery, a new service designed to allow users within the Turquoise Midpoint Dark Book to trade larger block orders by matching block indications - Dominic Wheatley will take up the job of chief executive of Guernsey Finance as of December 1st. Wheatley will replace Fiona Le Poidevin, whose resignation was announced in July and who will head up the Channel Islands Stock Exchange.

Latest News

  • Tuesday, 21 October 2014 BNY Mellon named trustee for £48m Estover Energy bond
    BNY Mellon has been appointed trustee and paying agent for Estover Energy’s £48m bond for a new Combined Heat and Power (CHP) plant in Speyside, Scotland. Read more...
  • Tuesday, 21 October 2014 Ageing bull market offers slim pickings, says Russell Investments
    Russell Investments has shown a moderate preference for equities over fixed income, a liking for credit, and a bias against exposure to rising long-term interest rates in its fourth quarter global outlook for 2014. Read more...
  • Tuesday, 21 October 2014 BATS Chi-X Europe expands into Turkish stocks
    BATS Chi-X Europe (BATS) will offer trading in Turkey’s most liquid stocks from 3rd November this year. The exchange says the addition of BIST30 index follows significant customer demand to trade Turkish securities - the market is one of the fastest growing in Europe with €319bn traded in 2013 - on a low-cost pan-European exchange. Read more...
  • Tuesday, 21 October 2014 Bank of England launches probe into payment system crash
    The governor of the Bank of England, Mark Carney, has launched a probe into the causes of yesterday’s disruption to Real-Time Gross Settlement (RTGS), the bank's system for settling high value payments. Read more...
  • Tuesday, 21 October 2014 CISI: UK must close loophole on vetting financial services IT staff
    A major loophole in the UK’s criminal records checking system means that IT staff, including those working in critical functions within financial services firms are not permitted to be vetted for fraud, says Simon Culhane, Chartered FCSI and chief executive officer of the Chartered Institute for Securities & Investment (CISI). Read more...
  • Monday, 20 October 2014 European Liquidity Stress Index continues its decline says Moody's
    The European Liquidity Stress Index (LSI) fell to an all-time low of 10.7% in August 2014, down from its peak of 18.8% in December 2012. This primarily reflects the addition of newly-rated corporates and solid liquidity among existing high-yield companies, says Moody's Investors Service in its SGL Monitor: EMEA Edition report published today. Read more...
  • Monday, 20 October 2014 ICAP announces further investment in ENSO
    ICAP says that it has made a further investment in ENSO LP, a provider of market intelligence and analytics for fund managers through Euclid Opportunities, an ICAP owned early stage seed funding programme. This follows an initial investment in May 2013 by the firm. No details of the financial terms have been released. Read more...
  • Monday, 20 October 2014 US Fed’s Tarullo stresses good compliance trumps mere compliance
    At the Federal Reserve Bank of New York Conference, "Reforming Culture and Behavior in the Financial Services Industry" in New York, US Federal Reserve Bank governor Daniel Tarullo spoke on the importance of the application of good, proactive compliance measures, rather than a tick box approach. Read more...
  • Monday, 20 October 2014 Ecuador: cuenta corriente registró un superávit de $239.0m en Q2
    El saldo de la balanza de bienes registró un superávit de $361.7m en el segundo trimestre de 2014 frente a un déficit de $540.5m en el segundo trimestre de 2013, evidenciando un comportamiento positivo a partir de dicho trimestre. Read more...
  • Monday, 20 October 2014 London financial services employment reaches record high
    Employment in financial and related professional services in London reached a record high of 703,900 in June 2014– 11%, according to TheCityUK’s October 2014 London Employment Survey. Read more...
  • Monday, 20 October 2014 Prudential Investments launches Income Builder Fund
    Prudential Investments has launched a new fund investing in income-focused equity, fixed income and non-traditional investments. The firm’s Prudential Income Builder Fund is designed to appeal to investors interested in a diversified approach to income investing. Read more...
  • Monday, 20 October 2014 Market dip offers buying opportunity in German equities, says Barings
    The decline in German industrial production in August and subsequent fall in market sentiment towards the country’s economic strength was a result of one-off events and presents a strong buying opportunity for German equities. This is according to Baring Asset Management, which notes that German equities are still trading at a discount to European peers. Read more...
  • Monday, 20 October 2014 Brokers back new Turquoise Block Discovery service
    LSE-backed multilateral trading facility Turquoise has launched Block Discovery, a new service designed to allow users within the Turquoise Midpoint Dark Book to trade larger block orders by matching block indications. Read more...
  • Monday, 20 October 2014 RBA looks at the impact of Australia's ageing population
    In an address to the Leading Age Services Australia (LASA) National Congress, assistant governor Christopher Kent at the Reserve Bank of Australia (RBA) examines the increasing effect of ageing on the labour force and the need for the central bank to account for longer term structural changes in the Australian economy. Read more...
  • Monday, 20 October 2014 Mellon Capital launches Carbon Efficiency Strategy
    Mellon Capital, the San Francisco-based investment boutique of BNY Mellon, has launched its Carbon Efficiency Strategy with $100m in funding from The McKnight Foundation. The strategy is designed to provide investors with lower carbon emissions exposure than the broad US equity benchmark. Read more...
  • Monday, 20 October 2014 Dominic Wheatley is new Guernsey Finance chief
    Dominic Wheatley will take up the job of chief executive of Guernsey Finance as of December 1st. Wheatley will replace Fiona Le Poidevin, whose resignation was announced in July and who will head up the Channel Islands Stock Exchange. Read more...
  • Monday, 20 October 2014 Koris International launches European ETFs analysis platform
    French-based Koris International claims to have launched the first platform providing analyses on the replication quality of European ETFs for institutional investors. Read more...
  • Monday, 20 October 2014 €515bn pot for real estate investment in Europe says Catella
    The volume of capital looking to invest in European real estate has doubled over the last decade from €250bn in 2006 to €515bn this year. Global investment fund managers say Europe is their main target market over the next 12 months. Read more...
  • Monday, 20 October 2014 REGIS-TR passes one billion transaction milestone
    Over one billion transactions have been processed by REGIS-TR, the European trade repository owned by Clearstream (Deutsche Börse Group) and Iberclear (BME). The Luxembourg-based firm was granted the trade repository authorisation by ESMA last year and began reporting duties under EMIR, which came into force on February 14th 2014. Read more...
  • Monday, 20 October 2014 UK firms receiving government export support increases by 50%
    The number of businesses receiving export support has increased by 50% in the last financial year, says UK trade minister Lord Livingston announced today. Read more...

MORE NEWS...
Key Stories from FTSE Global Markets
Wednesday, 24 September 2014

Prime computations

As regulators turn up the heat, prime-service providers have responded in kind by trimming the fat and optimising current tools, while also emphasising the same old “client-centric” concepts of the past. From Boston, Dave Simons reports.

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Wednesday, 24 September 2014

MarketAxess plugs the liquidity gap

In the absence of large dealer participation, New York-based MarketAxess has sought to plug the liquidity gap with its proprietary electronic trading platform, providing investors and broker dealers with streamlined access to an array of fixed-income products, Dave Simons talks to Rick McVey, MarketAxess chief executive, about the opportunities and challenges of the segment.

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Wednesday, 24 September 2014

Dragging dead weight

For those with eyes to read and ears to hear the macro economic news for the UK has been startling. GDP growth is apparently leading (well, Europe, at least), business optimism has been strong, inflation low, pound strong(ish). So why does it all seem to be a bit of an illusion? Simon Denham, chief executive officer of independent City consultant Skrem Ltd, gives us the bear view.

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Prices in the UK’s property, particularly real estate continue to rise, even as numbers of local mortgage applications shows signs of slowing. Even so, demand for property continues to outstrip supply and London in particularly continues its dominance within the United Kingdom, in terms of residential prices. London’s East End has been a particular beneficiary of increasingly relaxed development rules and the eastward shift in the capital of business and financial innovation.

Read more...
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