Monday 27th February 2017
NEWS TICKER, FEBRUARY 27th: Reuters’s newswire says that Iceland’s central bank is considering easing capital controls for derivatives -- Moody's has today assigned a Ba3 rating to Rexel SA's (Rexel) €300m senior unsecured notes due 2024. Rexel's existing ratings, comprising of Ba2 corporate family rating (CFR), Ba2-PD probability of default rating (PDR), Ba3 ratings on the company's existing senior unsecured notes and the NP short-term rating of the company's €500m commercial paper programme, remain unaffected. The outlook on all ratings is stable. -- Members of the Civil Liberties Committee will discuss the fundamental rights situation in Hungary with Justice Minister László Trócsányi and civil society representatives on Monday afternoon. MEPs are likely to raise the question of media pluralism, the independence of the judiciary and the situation of refugees and migrants -- President Trump’s budget outline calls for surge in military spending and sharp cuts to non-defense agencies including the EPA. However, there are no cuts scheduled to US entitlement programs such as Social Security, Medicare in the budget -- According to the latest Figaro/LCI poll, presidential candidate Emmanuel Macron is predicted to beat Le Pen in a presidential run-off. But Le Pen is ahead in the polls for the first round of voting -- Over in Germany the latest Bild am Sonntag poll puts Merkel’s conservatives neck and neck with her Social Democrat rivals -

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  • Monday, 27 February 2017 AOFM to syndicate 1.25% 2040 indexed bond
    The AOFM announces an issue by syndicated tap of the 1.25% 21 August 2040 Treasury Indexed Bond tomorrow, February 28th. The size of the issue will be modest. Read more...
  • Monday, 27 February 2017 EEX & Belektron to open emissions auctions to wider customer base
    The European Energy Exchange (EEX) and the independent carbon trading company Belektron say they have signed a cooperation agreement to further facilitate access to the primary market auctions at EEX. The cooperation aims at opening the emissions auctions to a wider customer base, in particular, for smaller and medium-sized companies (SMEs). Read more...
  • Monday, 27 February 2017 Harvest Global Investments expands its sales and marketing teams
    Harvest Global Investments (HGI), the Chinese and Asian markets specialist asset manager, has announced senior hires, adding new geographical coverage to its sales and marketing teams. The new hires are part of Harvest’s plans to attract new investors throughout Asia, Europe and US and will support the global expansion of its distribution channels. Read more...
  • Monday, 27 February 2017 eVestment hires new VP of business development in London
    Fintech firm eVestment says that Gabriel Gilarranz has joined the firm as vice president of business development in the company’s London office. Read more...
  • Monday, 27 February 2017 Maven Capital Partners completes £6.5m MBO of Healthpoint Limited
    Private equity house Maven Capital Partners has completed a £6.5m management buy-out of Healthpoint Limited, which sources and supplies healthcare and beauty products into the retail sector. The equity investment was funded through Maven’s co-investment network for professional clients ‘Investor Partners’, with debt and working capital funding provided by Barclays plc. Read more...
  • Monday, 27 February 2017 Asset manager Eaton Vance expands presence in Japan
    Eaton Vance Corporation has announced it is expanding its activities in Japan. Eaton Vance Asia Pacific, its international subsidiary, opened a Tokyo-based representative office to provide relationship management and client service support to existing clients in Japan and other parts of Asia. Read more...
  • Monday, 27 February 2017 ADGM & GIFT SEZ IFSC agree closer collaboration
    Abu Dhabi Global Market (ADGM) and Gujarat International Financial Tec-City Special Economic Zone (GIFT SEZ IFSC) are set to collaborate more closely to help develop each other’s financial markets and marks growing shifts among GCC states towards the Asia Pacific states. Read more...
  • Monday, 27 February 2017 FIX Protocol enhanced to meet the requirements of MiFID II/MiFIR
    FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, today announced the publication of a document detailing extensions to the FIX Protocol to meet the requirements of MiFID II and MiFIR. The FIX Global Technical Committee has approved these changes and these are now available to use within the industry. Read more...
  • Monday, 27 February 2017 BAMA vows to eradicate mislabeling of unregulated financial entitles
    (Manama – 26 February 2017) -- The Bahrain Asset Managers Association (BAMA) says it will raise awareness about undertaking regulated investment services by nonregulated entities; ensure the privacy and confidentiality of commercial registrar for financial institutions; introduce compulsory claw-back provisions and clauses in investment offerings; and eradicate misleading practices in naming and labelling of the unregulated entities with implicit financial and investment connotation. Read more...
  • Monday, 27 February 2017 Is London set for biggest uptick in IPO volume for a decade in 2017?
    The benefits of a London listing looked to have bypassed the market in 2016. Brexit didn’t help of course. By year end the value of IPOs in London fell by 59% and volume decreased by 27%; the worst year since 2009. Kate Ball-Dodd, partner at Mayer Brown, asks whether a reversal of fortune will set the UK on track for record IPO listings this year. Read more...
  • Monday, 27 February 2017 Is London set for biggest uptick in IPO volume for a decade in 2017?
    The benefits of a London listing looked to have bypassed the market in 2016. Brexit didn’t help of course. By year end the value of IPOs in London fell by 59% and volume decreased by 27%; the worst year since 2009. Kate Ball-Dodd, partner at Mayer Brown, asks whether a reversal of fortune will set the UK on track for record IPO listings this year. Read more...
  • Monday, 27 February 2017 DC pensions now the norm for new employees
    New research from Willis Towers Watson suggests the take up of Defined Contribution (DC) pensions is now virtually ubiquitous, with 98% of new employees at FTSE 350 companies joining DC schemes. Even so, the report also suggests that DC still requires refinements, in areas such as the development of delivery vehicles, contribution designs and member education and support. Read more...
  • Friday, 24 February 2017 Işbank partners with PPRO Group to boost cross border sales
    İşbank, the biggest private bank in Turkey and provider of PSP services, is partnering with cross border e-payment specialist, PPRO Group. The partnership enables İşbank to offer e-commerce merchants 13 local alternative payment methods worldwide. Read more...
  • Friday, 24 February 2017 Fitch says US RMBS settlement issues still loom for some European banks
    According to a new market report from Fitch Ratings, uncertainty about the scale of penalties for US retail mortgage-backed securities (RMBS) practices more than ten years ago will continue to weigh on some European banks' capital management and dividends. “We expect cautious capital retention to be a theme as the 2016 results season for European banks reaches its final stage,” says the credit maven. Read more...
  • Thursday, 23 February 2017 Code modernisation vital for capital markets efficiency says TABB Group
    Regulatory demands on the financial services industry require that institutions obtain a holistic understanding of all the data within the organisation for compliance purposes. TABB Group’s latest research, “Code Modernization – Doing More with More,” reviews how the move to code modernisation in the capital markets community will make the maximum use of firms’ existing compute resources. Read more...

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Key Stories from FTSE Global Markets

The Catholic Pope is  putting his two-penneth in on climate change; and once more climate change is now centre stage, but this second act has a clear financial complexion, and that makes all the difference.  Multi-laterals, asset managers and banks now realise that climate change will not only affect investment returns; it will also provide a new avenue for fund-raising for sustainable projects that will have a beneficial impact on the earth. Who’s investing in what?

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Wednesday, 24 June 2015

Real-time payments: about time too

Heightened customer expectations, evolving business needs and rapid advancements in technology have changed the game for payments, with Faster Payments – 24/7 real-time transactions – now taking centre stage. Jan Gonnissen, SVP Payments, iGTB, explores the developments taking place around the world and what faster payments entail behind the scenes.

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In late April another top firm was hit with a multi-million dollar fine. This time Bank of America Merrill Lynch was the recipient – for failing to report its transactions correctly. This follows a recent raft of other sophisticated Tier-1 institutions being subjected to heavy fines, as regulators continue to focus on what is actually being reported. One thing is for sure: Bank of America Merrill Lynch will certainly not be the last firm to suffer the same fate. In fact I suspect it’s the tip of the iceberg! So why does this keep happening? Bill Blythe, Global Business Development Director, Gresham Computing goes in search of answers.

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The recent OPCE conference in Vienna in early June noticed what it described as ‘stabilisation’ in the recovery of the global economy, albeit with growth at moderate levels. In the current year, GDP growth is projected at 3.3%, with this expected to be at a slightly higher level of 3.5% for 2016. It was a generally optimistic note than the conferences in 2014, which had resulted in a free fall in oil prices as OPEC producers opted for aggressive output strategies in the pursuit of market share. Even though oil prices have look over the near term to have found some stability, the watchword for the market in 2015 is inventories, which remain at historically high levels.

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Although the Justice and Development (AK) Party won parliamentary elections in early June, with over 40% of the vote, the result marked a sea-change in the country’s political dynamic. The AKP has lost momentum in its drive to dominate the country’s political agenda over the long term and President Recep Tayyip Erdogan’s omnificence over government actions and policy has been dealt a punishing blow. What will a near term, more fluid political landscape mean for the country’s ambitious economic programme?

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  • Thursday, 27 October 2016 08:05 Has monetary policy reached its limit?
    In Japan and the eurozone, it increasingly appears that monetary policy easing is effectively at its limits, thinks Kathleen Hughes, head of European Institutional Sales, Goldman…
  • Wednesday, 22 February 2017 13:40 MiFID II: time to focus
    I was astounded to read about a survey from Northern Trust last week that found that 60 per cent of fund managers have not implemented…