Wednesday 23rd July 2014
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TUESDAY TICKER: JULY 22nd 2014 - The Zimbabwe Stock Exchange (ZSE) has been transformed into a company from a mutual society, opening the way for a public listing on the bourse it operates. The ZSE has been owned and run by stock brokers since 1946, but after demutualisation the brokers now hold 68% while the government owns the remaining shares. The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to misuse of the DFSA's name. It has come to the DFSA's attention that a fraudulent email purporting to be from the DFSA has been sent to a number of firms both inside and outside the Dubai International Financial Centre (DIFC). The false email: purports to be about a "DFSA Anti-Money Laundering Violation"; appears to come from "Amina Alshehi" from "Audit & Compliance"; attaches a "non-compliance notice"; and uses legitimate DFSA contact details. The email is fake, warns the DFSA. - Surecomp, the provider of trade finance solutions for banks and corporations, says Nordea has gone live in Frankfurt and London with the stand-alone version of allNETT, Surecomp's Web-based trade finance front-end solution – Saudi’s Kingdom Holding Company announced a net income for the second quarter this year of SAR211.7m up 16.8% on the previous quarter. The gross operating profit was SAR420.3m up 26.2% on the same quarter in 2013. Mohammed Fahmy CFO, says: “The second payment of dividends has been deposited in shareholders’ accounts. The outlook for the company’s profitability remains strong.” - Northern Trust has reported a 20 percent rise in assets under custody and a 15% rise in assets under management for Q2 2014 compared to Q2 2013.The Corporate and Institutional Services (C&IS) and wealth management businesses also report a 9% rise in custody and fund administration services, investment management and securities lending. Frederick Waddell, the bank’s chief executive officer, says, “Our business continued to expand in the second quarter as trust, investment and other servicing fees, which represent 65% of revenue, increased 8% compared to last year and assets under custody and under management increased 20% and 15%, respectively.” - In the latest Investment Quarterly for Q3 2014, Renee Chen, Macro and Investment Strategist at HSBC Global Asset Management, looks at the investment prospects throughout the Asia region. Chen identifies macro trends that are likely to shape investment themes in Asian markets, such as economic policy reforms, economic rebalancing and regional cooperation and integration that will provide a wide diversity of investment opportunities in relevant sectors. Financial deepening, in terms of financial system reform and deregulation and capital market developments, is another macro theme. HSBC continues to see opportunities in various sectors that could potentially benefit from structural reforms in several Asian countries. In particular, effective implementation of reforms could lead to a sustainable improvement in economic fundamentals and the growth prospects of China and India, prompting a reform-led re-rating of Chinese and Indian stocks. The continued search for yield resulted in decent H1 performance in Asian credit markets and there has been continued investor appetite for emerging Asian bonds, but Chen cautions that valuations could become a constraint, with limited room for further spread compression in some sectors and markets. However, the still-low default rates and overall healthy level of leverage among Asian companies on the back of overall sound Asian economic fundamentals provide a solid base for Asian credit market in the medium-to-long term.

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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