Sunday 19th May 2013
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The European Banking Authority has postponed stress tests until next year as supervisors look into how major banks classify and value assets. "Concerns remain on asset quality and forbearance, which need to be addressed," Chairman Andrea Enria said. "This is also a necessary precondition for the credibility of the next EU-wide stress test."- The International Monetary Fund has conducted a comprehensive analysis of monetary policy at central banks in Europe, Japan and the US, noting that their efforts to encourage growth and improve market stability largely have been successful. The IMF also says that if the economic outlook worsens, central banks in Europe and the US could ease monetary policy further; however, they risk diminishing returns- that the ETF assets linked to the FTSE EPRA/NAREIT Global Real Estate Index Series, reached $US10.5 billion in assets under management, as of 30 April 2013. In total, more than US$176 billion of ETF assets are currently benchmarked to FTSE indices worldwide - The 24% rise in Lloyds Banking Group shares this year following the 85% rise in 2012 shows the bank's return to the private sector and the resumption of dividends is getting closer, shareholders have been told.the bank's shares hit a two-year high of 61p yesterday, chairman Sir Win Bischoff told the annual meeting in Edinburgh the prospects of a sale of the taxpayer's 39% stake have improved with the bank's return to profit, and dividends will be restarted "as soon as we are able". He added: "We fully understand the difficulties their absence is causing shareholders." - The Association of German Pfandbrief Banks (VdP) says that prices on the German market for owner occupied residential properties rose again in the first quarter of 2013. The Price Index for Owner Occupied Housing went up by 3.4% in the first three months of this year compared with the corresponding quarter one year before. Developments were driven in particular by the market for condominiums, with prices climbing 5.7% year-on-year - Judge Daniel Hurley of the US District Court for the Southern District of Florida entered supplemental consent orders against defendants Philip Milton and Trade, LLC, both of Palm Spring Gardens, Florida. Milton must now pay restitution of more than $10.8m and a further civil monetary penalty and Trade, LLC, to pay restitution of over $11.4m and a $28.4m civil monetary penalty for operating a multi-million dollar Ponzi commodity pool scheme.
Issue 62 - June 2012

FTSE & CÜREX Group launch FX indices

Friday, 15 June 2012
FTSE & CÜREX Group launch FX indicesGlobal 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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