Tuesday 22nd July 2014
slib33
MONDAY TICKER - JULY 21st - The value of assets managed by Islamic funds grew by 4.9% and reached $75.1bn in the first six months of 2014 (a record apparently). According to a report released by Kuwait Finance House (KFH) Islamic finance assets around the globe – including also those not managed by dedicated Islamic funds – reached $1.8trn by the end of 2013 and should surpass $2trn in the third quarter of this year. The number of Islamic funds grew from just over 800 in 2008 to 1.069 as of June 17th this year says KFH with Saudi Arabia and Malaysia holding more than 60%% of Islamic fund assets worldwide. The report says equities continue to dominate the portfolios of Islamic asset managers, accounting for 44% of the total; approximately 16% of the assets are invested in low-risk money market instruments. Investments in real estate, however, make up only a small portion of total and are made mostly by funds specialised in the Gulf Cooperation Council (GCC) and Malaysia real estate. The GCC is comprised of Saudi Arabia, Bahrain, Qatar, Emirates, Kuwait and Oman - Catella has secured the approval of the Swedish Financial Supervisory Authority (Finansinspektionen) and has taken up the shares in Informed Portfolio Management (IPM) in a deal originally agreed in January 2014 worth SEK25.7m and an additional consideration related to IPM’s performance. Catella’s ownership of IPM now amounts to approximately 51% (up from 25% previously) - Venture capital interest in payment industry start-ups appears to be on the wane. According to data from CrunchBase, the number of venture-backed payments companies has declined from a high of 59 start-ups in the third quarter of 2013 to just 41 in the second quarter of 2014. The reason? High start-up costs which make the going hard for new firms. Most of the big success stories in the sector come from companies that piggy-back off the existing firms and platforms, such as Square's mPOS dongle, or utilise new techniques in crowdfunding and P2P lending to gain an edge over established players. Even so, Square, with its multi-billion dollar valuation, has yet to make a profit - The Hong Kong Deposit Protection Board has published its Annual Report for 2013-2014. Total deposits covered by the DPS increased to HK$1,637bn, with 90% depositors fully covered by the DPS protection limit at HK$500,000. The agency says it has enhanced deposit information submission requirements for scheme members and strengthened contingency arrangements and early warning mechanisms for responding to different crisis scenarios – Oman’s non-oil exports (including re-exports) have grown to OMR3.81bn last year from OMR79m in 1991, according to the Export Credit Guarantee Agency of Oman (ECGA). The agency reports it has received approval from the Ministry of Finance to provide medium and long term cover, investment guarantee as well guarantee on bonds as such approved products are extended by many other ECAs in other countries.

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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