Saturday 7th March 2015
NEWS TICKER, FRIDAY, MARCH 6TH 2015: —BNY Mellon has been appointed by Accor, the hotel operator based in France, as depositary bank for its sponsored American depositary receipt (ADR) program. Accor previously traded in the US as an unsponsored DR. Each sponsored ADR represents one-fifth of an ordinary share and trades on the OTC Markets under the symbol ‘ACCYY.’ Accor’s ordinary shares trade on Euronext Paris under the code ‘AC’— The US Inland Revenue Service (IRS) says the FATCA IDES User Guide has been updated for March 2015 and includes user enhancements and additional instructions. Copies can be downloaded from the IRS websiteimage003.pngThe Federal Reserve Bank of New York has reported gross purchases from February 26th through March 4th of $4,737m worth of agency MBS transactionsimage003.png More than 100 members of European Parliament (MEPs) have signed an open letter to the European Union’s Telecoms Council, urging it to adopt a more relaxed stance towards roaming charges. The Council is looking to extend the “phasing out” of charges until mid-2018, more than two and a half years later than initially laid out in the Roaming III regulation established in 2012. Roaming III, one of Neelie Kroes’ flagship motions in the move towards a single digital market, had previously required the abolishment of all roaming fees by the end of this year. “The Council stance sets up a new pricing mechanism, which will make it much cheaper to use your mobile phone when travelling abroad in the EU,” it said. “Within certain limits to be determined, consumers could make and receive calls, send SMSs and use data services without paying anything extra on top of the domestic fee.” It also suggests limitations under which operators will be able to levy charges against roamers. “Without a strong Telecoms Single Market, the much needed Digital Single Market cannot flourish,” they said, in an open letter to the Council of the European Union. “The European Parliament urged an end to roaming charges by the end of this year (2015). We consider proposed delays by three years (2018), or a suggestion to allow for 5MB without charges per day, to lack ambition. Such outcomes will undoubtedly seriously disappoint citizens. The gap between ending roaming charges, and 5MB per day is immeasurably large.” The open letter to the Telecoms Council concluded with a plea to put an end to roaming charges and clearly define net neutrality, stressing its significance for the future of Europe’s digital economies—Danish dedicated wind company Vestas has placed a seven year €500m eurobond with an interest rate of 2.75%, which the firm says will broaden the firm’s funding structure. The bonds, which will be listed in Luxembourg, will be repaid on March 11th 2022. According to Vestas CFO Marika Fredriksson, this is the first time a "green bond" had been issued by a dedicated wind company—An Taoiseach, Enda Kenny TD; the Minister for Jobs, Enterprise and Innovation, and Clive Bellows, Country Head Ireland at Northern Trust say the bank will expand its operations in Limerick by creating up to 300 new jobs over the next three years. The expansion is supported by the Department of Jobs through IDA Ireland —Despite reduced market volatility in February, total traded volume on the Tradeweb European-listed ETF platform amounted to €7.7bn in the month. This was the platform’s third best performance since launch, only beaten by last October’s €7.9bn and January’s record-breaking €10.7bn volume. According to the firm, there was a clear buying trend across all asset classes on the platform, with “buys” outstripping “sells” by 26 percentage points as a proportion of the overall traded volume. “Buy” requests for equity-based ETFs climbed to 42%, while “sell” requests fell 8 percentage points to 31 per cent compared to the past 12 months. Three of February’s ten most heavily traded ETFs invest in fixed income, offering exposure to government debt and USD-denominated high yield bonds—Global business advisory firm FTI Consulting, Inc says Mark Hunt has joined as senior managing director in the firm’s Forensic & Litigation Consulting practice. Mark will be based in London. As a Senior Forensic Partner with over thirty years’ experience, Mark specialises in financial and regulatory investigations, audit and accounting negligence, expert determinations and accounting disputes. His work has included a number of complex international disputes for both claimants and defendants, as well as acting as an expert on issues relating to complex financial instruments. Mark joins FTI Consulting from BDO, where he led their Financial Services practice, which included conducting FCA/PRA Skilled Persons Reviews. Prior to joining BDO in 2007, Mark was a Partner at KPMG, and he is also a Fellow of the Institute of Chartered Accountants in England and Wales. In his new role, Mark will join the EMEA Financial Advisory Services leadership group, working with Jeannette Lichner, Stephen Kingsley, Andrew Durant and Nick Hourigan to continue building FTI Consulting’s practice— The Straits Times Index (STI) ended +22.24 points higher or +0.66% to 3417.51, taking the year-to-date performance to +1.56%. The FTSE ST Mid Cap Index gained +0.21% while the FTSE ST Small Cap Index declined -0.38%. The top active stocks were SingTel (+1.70%), DBS (+0.98%), Noble (+4.98%), Keppel Land (-0.22%) and Genting Singapore (-2.63). The outperforming sectors today were represented by the FTSE ST Telecommunications Index (+1.52%). The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+1.70%) and StarHub (unchanged). The underperforming sector was the FTSE ST Health Care Index, which declined -0.55% with Raffles Medical Group’s share price declining -0.51% and Biosensors International Group’s share price declining -0.77%. The three most active Exchange Traded Funds (ETFs) by value today were the STI ETF (+0.59%), iShares USD Asia HY Bond ETF (-0.85%), SPDR Gold Shares (-0.42%). The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-0.94%), Ascendas REIT (-0.40%), CapitaCom Trust (+0.28%). The most active index warrants by value today were HSI25000MBeCW150429 (-4.12%), HSI24200MBePW150429 (+0.60%), HSI24400MBeCW150429 (-2.99%). The most active stock warrants by value today were DBS MB eCW150420 (+8.65%), OCBC Bk MBeCW150803 (unchanged), UOB MB eCW150701 (+2.10%).

FTSE & CÜREX Group launch FX indices

Friday, 15 June 2012
FTSE & CÜREX Group launch FX indices Global index provider FTSE and Cürex Group, a developer of intellectual property and technologies that link institutional foreign exchange with global capital markets, have the FTSE Cürex FX Index Series, a new range of independently calculated, 24/5 streaming, executable spot FX benchmark FIX for currency pairs and currency baskets. “The new index is designed to provide a better benchmark for managing currency risk and performance, and will likely support a wide range of passively managed FX currency funds and strategies,” holds Mark Makepeace, chief executive officer, FTSE Group. http://www.ftseglobalmarkets.com/

Global index provider FTSE and Cürex Group, a developer of intellectual property and technologies that link institutional foreign exchange with global capital markets, have the FTSE Cürex FX Index Series, a new range of independently calculated, 24/5 streaming, executable spot FX benchmark FIX for currency pairs and currency baskets. “The new index is designed to provide a better benchmark for managing currency risk and performance, and will likely support a wide range of passively managed FX currency funds and strategies,” holds Mark Makepeace, chief executive officer, FTSE Group.

 

 



The FTSE Cürex FX Index Series provides the next generation of FX valuation and performance benchmarking for global capital markets. By establishing real-time bid and offer spot FX indices on 192 currency pairs (FTSE Cürex FIX), from multiple independent contributors and at multiple depths of liquidity, global capital markets benefit from improved clarity when viewing previously opaque foreign exchange pricing. William Dale, chairman and chief executive at Cürex Group explains that the new index series “represents a step forward in the evolution of the global foreign exchange marketplace [and] enables … both buy side and sell side leaders seeking to provide more competitive products and liquidity to the world’s capital markets.”   

New executable benchmark currency baskets include the flagship FTSE Cürex USD/G8 Index, an equally weighted, real-time index designed to provide an improved valuation of the US Dollar. The index consists of seven major currencies representative of global finance and commodity trading, plus the Chinese Renminbi—the most important emerging Asian reserve currency. These new benchmark FX Indices also can be used to measure the performance of active currency strategies, and provide new tools for investors seeking to express a ‘risk on/risk off’ trade.

New proprietary and patented technologies have been developed by Cürex Group specifically to connect previously fragmented foreign exchange market liquidity with investment products linked to FTSE Cürex FX Indices. These technologies, say FTSE Group, allow asset managers and their service providers to build custom FX Indices from proprietary or third party asset pricing models for both analytic and product development purposes. Cürex Intellectual Property will enable a new generation of both exchange-traded and OTC financial products that are linked to FTSE Cürex FX Indices and utilise Cürex technologies designed to directly link institutional foreign exchange liquidity to financial products tracking FTSE Cürex FX Indices. This new capability will allow passive asset managers to reduce tracking error and liquidity providers such as Delta One desks to improve their hedging and risk management practices.

Benchmark Execution (BE) and Benchmark or Better Execution (BOBE) models can now be employed by third-party electronic and voice brokering FX platforms via principal transactions or STP to the FTSE Cürex FX Index liquidity pool. These new benchmark FX Indices also can be used to measure relative performance of active currency overlay strategies. Investors seeking to express a ‘risk on / risk off’ trade can alsouse these indices to implement this trade.

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