Thursday 28th May 2015
NEWS TICKER: THURSDAY, MAY 28TH: A deal struck by MEPs and Council of Ministers negotiators in the small hours of Thursday morning means the architecture of the Juncker plan to unlock €315bn public and private investments in the real economy in 2015-2017 can now be put to a European Parliament vote on June 24th and the investment programme can kick off in the summer. Parliament’s negotiators scaled back cuts in the EU’s “Horizon2020” research and innovation programme and Connecting Europe Facility (CEF – to link up Europe’s energy, transport and digital networks). They also ensured that the plan creates a stable financing mechanism to bridge the investment gap in Europe, by clarifying the investment guarantee fund’s governance structure and making it more accountable to representatives of EU citizens – Jamyra Gallmon, accused of stabbing DLA Piper associate David Messerschmitt to death in a robbery gone wrong, pleaded guilty to murder today in Washington, DC court, after reaching a plea deal with prosecutors - – European banking and financial market associations have been rushing to comment on Tuesday night’s vote in the European Parliament’s Economic and Monetary Affairs Committee (ECON), which was rejected by 30 votes to 29, claiming they remain deeply concerned over the EU Banking Structural Reform proposal (BSR) that seeks to break up the largest European banks. The outcome of the ECON vote shows that there is no consensus on what is right for big universal banks in Europe. Policy makers suggest that the BSR proposal could lead to a loss in European investment capacity equal to 5%, representing a decline of almost €100bn in capital expenditure on the long term; however there does not seem to be any consolidated document that might form the basis of consistent debate as a European Parliament spokesperson confirms that the original proposal has had so many amendments that it scarcely reflects the original thinking behind the document. Given that the vote is defeated, the EP will not consider re-opening the debate until June 11th this year, when the Parliament will decide on the requirements for either further amendments or complete redrafting, or even abandonment of the proposal - )-- Murex, the leading provider of integrated trading, risk management and processing solutions, says UniCredit, which has the largest presence of banks in Central and Eastern Europe, has gone live on Murex' MX.3 for UniCredit Bank Austria and eight other Central Eastern Europe banks - The interim financial report of Gefinor S.A. (ISIN LU 0010016714) for the period ended March 31st is available on the company website at www.gefinor.com from May 28th (today) - The Securities and Exchange Commission today announced that the next meeting of its Advisory Committee on Small and Emerging Companies will focus on public company disclosure effectiveness, intrastate crowdfunding, venture exchanges, and treatment of finders.“The agenda reflects the important scope of the advisory committee’s mandate,” says SEC Chair Mary Jo White. “Topics I am particularly interested in are the advisory committee’s views on disclosure effectiveness and initiatives that will inform our capital formation efforts.” At its upcoming meeting on June 3rd, the advisory committee also is expected to vote on a recommendation to the Commission regarding the “Section 4(a)(1½) exemption” sometimes used by shareholders to resell privately issued securities. This topic was initially discussed at the committee’s March 4 meeting.The meeting will be held at the SEC’s headquarters at 100 F Street, NE, Washington, DC, and is open to the public. It also will be webcast live on the SEC’s website, www.sec.gov, and will be archived on the website for later viewing.

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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