Tuesday 30th June 2015
NEWS TICKER, MONDAY, JUNE 29TH : The mobile service provider CM Telecom says the company will move into mobile payments and has founded CM Payments, a new payment service provider (PSP) that will operate internationally. CM Payments opens its office in Amsterdam. CM was founded in 1999 in Netherlands and specialises in worldwide mobile messaging and payments. The company declares they already have in-house technology and the platform, which can process a large number of transactions per second utilises this technology for the expanded service. The platform also offers connectivity to multiple payment methods including VISA, MasterCard, Paypal, iDeal, Microincasso and Bancontact (Belgium). CM Payments wants to expand cooperation with a number of existing CM customers by using the capabilities of the payment platform. The group consists of, among others, authorities, fundraising institutions, media, e-commerce and telecom players. After a closed beta period, CM Payments will go public. - Despite offering the first prepaid MasterCard with 14 currencies on a single card at ‘spread free’ exchange rates, Centtrip is urging holidaymakers visiting Greece in the next few days to physically take enough spending money for their entire holiday, because it believes local merchants may impose limits on how much they will accept by card, or reject cards altogether as they fear they will not be able to access funds from their own banks. Centtrip hopes that the level of uncertainty facing Greece will be removed soon, and that it can start recommending people use cards again when visiting the country. Greece has announced that banks will be closed until July 6TH – the day after a referendum on bailout proposals, and there is a €60 euro limit on ATM withdrawals. However, foreign tourists, a key driver of the Greek economy, will be exempt from the restrictions. Brian Jamieson, Co-Founder and Managing Director of Centtrip, said: “Although customers will be able to use our Centtrip card and others at ATMs, they will be faced with long queues to withdraw their money. Local merchants may also impose limits on how much they will accept by card or reject these altogether because they may be concerned about accessing funds from their own bank. During the current situation in Greece and the uncertainty that prevails, we are advising people to take all the spending money they think they will need for their entire holiday in hard physical Euros. As the situation develops, we will provide further recommendations to our clients and to those travelling to Greece.” - Scotiabank's Commodity Price Index climbed by 4.7% month-over-month (m/m) in May -- the second consecutive monthly gain -- though the All Items Index remains -26.5% below a year earlier. "While global economic conditions remain lacklustre, international oil prices have lifted off bottom and supply disruptions in Western Canada's oil patch have pushed up domestic netbacks," says Patricia Mohr, vice president of Economics and Commodity Market Specialist at Scotiabank. "May and June have witnessed an extraordinary narrowing of the discounts on Western Canada's light and heavy crude oil off West Texas Intermediate (WTI) -- the North American benchmark -- a trend which will continue into July. The Forest Product Index edged down in May by -0.2% m/m and is still -11.5% below a year earlier. However, strong US housing permits in May and a growing backlog of sold, but not yet started units, points to stronger residential construction in coming months. The basic supply of shelter in the U.S. is tightening, with apartment vacancy rates at a mere 4.2% - propelling multiple-unit building permits to an annualized 592,000 units in May, the highest level since January 1990. Western Spruce-Pine-Fir 2x4 lumber prices have jumped back to US$300 per thousand board feet from US$262 in April and US$256 in May. After investors bid up LME zinc prices as high as $1.09 per pound in early May, zinc prices have unwound alongside copper to the US$0.92 mark in late June. However, closure of the Century mine in Australia and Lisheen in Ireland in 2015:Q3 will tighten world supplies, sending prices significantly higher by year end. Chinese interest in copper and other mining investments remains strong - a sign that the 'bull run' in base metals is expected to return later in the decade.

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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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