Wednesday 7th October 2015
NEWS TICKER: Tuesday, October 6th: Vistra (UK) Limited ('Vistra') is pleased to announce the appointment of Barry Gowdy as Director, effective 1st October. Gowdy joins Vistra from RBC Wealth Management, where he was responsible for the firm's UK property trust clients – According to NIBC the labour market report for September is one indicator that US economy is losing momentum. It is a view reflected by the weakening of business confidence surveys and a more moderate pace of job growth over the last few months. Although not related to the problems that have engulfed emerging markets over the last summer,, it appears that US businesses have on average accumulated too much in inventories. The number of non-farm payrolls increased by only 142k, whereas 200k was expected and the August reading was revised downwards from 173k to 136k. Additionally, underlying figures indicate that a relatively strong boost in the number of jobs in the public sector camouflaged the weakness in private sector job gains. Market participants were probably also intrigued by the slow rate of hourly wage (earnings) growth. These stayed flat in September compared to August, while the annual rate of wage growth stayed at 2.2%, in line with the annual rate in between 2.0 and 2.5% range this year - Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, has agreed to purchase the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas representing approximately $2.5bn of net assets. Shawn Vick, executive director of Global Jet Capital says, “We are investing heavily in growing the business both organically and through strategic acquisitions such as this one with GE. This is a prime example of our industry expertise and investment capital coming together to evaluate and identify an opportunity to expand the business in a disciplined, carefully measured way.” The price point of the aircraft range between $25m and $75m on average, and corporate users and high net worth individuals will seek competitive financing solutions rather than allocate their own cash resources which are better invested in their own businesses - Gresham Computing plc, a provider of real-time financial transaction control and enterprise data integrity solutions, today announced the appointment of Damian Canning as Sales Director for North America. Based in Gresham’s New York City office, Canning will be responsible for continuing the strong growth of Gresham’s Clareti Transaction Control (CTC) platform in North America - Spending on food, entry fees, insurance and entertainment over the three day Eid al-Adha festival, some 300,000 Saudis spent SAR400m ($107m), according to local press reports. Bahraini officials report higher than usual tourist inflows and spending. Roughly 50% of those who checked in the kingdom’s hotels were nationals of member states of the Gulf Cooperation Council, enjoying Bahrain’s more relaxed ambience - The Philippine unit of Royal Dutch Shell Plc said on Monday it was looking to launch a long-delayed initial public offering (IPO) sometime next year, and may sell even more than the minimum requirement of 10 percent of common stock. "We're getting ready for it," Shell Philippines Country Chairman Edgar Chua told reporters on the sidelines of a Shell event. "We've discussed it with the (Philippines Department of Energy), it's just a question of timing." Pilipinas Shell Petroleum Corp, which operates one of the country's two refineries, is required under a nearly two-decade local law to conduct an IPO. The company had previously cited unfavourable market conditions and the need to upgrade its local refinery in deferring a share sale. Shell's refinery upgrade is underway and could be completed hopefully by the middle of November says a Shell spokesman - European regulators have approved the London Stock Exchange's plan to link the operations of LCH.Clearnet and EuroCCP to offer investors more choice for clearing their trades on the UK bourse. The link is set to begin October 26th - The Straits Times Index (STI) ended 58.1 points or 2.08% higher to 2851.25, taking the year-to-date performance to -15.27%. The top active stocks today were SingTel, which gained 2.81%, DBS, which gained 2.36%, UOB, which gained1.64%, OCBC Bank, which gained2.05% and CapitaLand, with a 2.49%advance. The FTSE ST Mid Cap Index gained 1.45%, while the FTSE ST Small Cap Index rose 1.04%. - Morningstar has downgraded the Aberforth UK Small Companies fund to a Morningstar Analyst Rating™ of Silver. The fund previously held a Gold Rating. Samuel Meakin, manager research analyst at Morningstar, said: “Following a recent Morningstar Analyst Ratings meeting, we have moved the Aberforth UK Small Companies fund to a Morningstar Analyst Rating of Silver. The fund was previously rated Gold. Whilst we still hold the fund in high regard, the recent and upcoming changes to the management team have slightly reduced our level of conviction. Andy Bamford, one of the fund’s six managers, is set to retire at the end of this year; he follows David Ross, who retired in 2014.” - Rubicon Minerals Corporation (TSX: RMX)(NYSE MKT: RBY) was asked by Canada’s Ministry of Environment and Climate Change (MOECC) on September 30th to temporarily suspend mill operations at the Phoenix Gold Project) to treat elevated ammonia levels, discharge sufficient water from the tailings management facility (TMF), and to upgrade the TMF, under specific timelines. It also ordered Rubicon to undertake other operational and reporting obligations, including construction upgrades to the TMF. The company has been utilizing alternative technologies to address the ammonia levels in the TMF - LIFE, the global diaspora organisation of Lebanese finance executives says it has signed an academic partnership with Cambridge Judge Business School, the business school of the University of Cambridge – Figures shows that the United Kingdom’s HMRC collected a record £7.5bn in stamp duty from residential property transactions in 2014/2015, up from £6.45bn the previous year and from £4.9bn in 2012/2013 and the total tax collected from home buyers in the UK has grown by 165% over the last six years alone. Transactions in London contributed the most residential stamp duty revenue at just over £3bn, followed by the South East at £1.6bn and between 2008/2009 and 2014/2015, stamp duty revenues in London have grown by 248%, compared to around 158% in the East of England and 140% in the South East. The latest analysis reports from both Knight Frank and Savills look into the effect of this on the prime market in London and both conclude that the stamp duty changes introduced last December are still having an effect on sales 10 months on.

Latest Video

Much ado about HFT

Wednesday, 23 May 2012
Much ado about HFT FIA EPTA debunks high-frequency trading myths at MiFID II paper launch

FIA EPTA debunks high-frequency trading myths at MiFID II paper launch

Launching its position paper on the review of the EU’s Markets in Financial Instruments Directive (known as MiFID II), FIA European Principal Traders Association has addressed what it claims to be  misconceptions surrounding high-frequency trading (HFT).“It’s time to bring more balance to the HFT debate, which until now has been driven by emotive language, anecdotes and fabrications rather than hard fact,” says FIA EPTA chairman Remco Lenterman. “For example, many people don’t realise that market abuse—as well as being morally reprehensible—comes at a hefty price for the market. So principal trading firms such as our members have a very real economic incentive to fight market abuse and back regulatory reform,” Lenterman adds, claiming that the industry’s critics have chosen to overlook the value that principal trading firms add to the real economy in terms of lower transaction costs and greater liquidity.

FIA EPTA is an association of European principal traders formed in June 2011 under the auspices of the Futures Industry Association (FIA). FIA EPTA represents more than 20 principal trading firms that, on a combined basis, are responsible for very significant volumes of trading in many asset classes on European regulated markets and multilateral trading facilities (MTFs). On average and across the main trading venues in Europe, one in two transactions in futures and one in three transactions in equities very likely have an FIA EPTA member firm on one or both sides of the transaction.

The position paper highlights FIA EPTA’s backing for a comprehensive regulatory framework and the regulation of all market participants with memberships to regulated markets and multilateral trading facilities. It also argues for well calibrated order-to-trade ratios determined by trading venues to ensure orderly trading on their platforms. Equally it expects trading venues and market participants to have robust risk controls in place to address risks inherent in electronic markets as well as ESMA’s guidelines on systems and controls in an automated trading environment, and supports transparent and open markets along with pre- and post-trade transparency measures and on-exchange trading. “We strongly support measures that ensure safer, more resilient markets, but we urge policymakers to carefully weigh the costs of such measures. No one benefits if badly designed regulations disrupt liquidity and drive up costs for traders and investors,” Lenterman said.

FIA EPTA represents firms that trade their own capital in the European exchange-traded markets. The association estimates that its members are responsible for a substantial part of the traded volumes on European exchanges and multilateral trading facilities.

Current Issue

Related News

Related Articles

Related Blogs

Related Videos