Thursday 26th November 2015
NEWS TICKER, November 24th 2015: New research from the Consilium Strategic Land Fund suggests 19% of estate agents and property developers expect it to become ‘much easier’ to obtain planning permission to build residential homes over the next three years. 56% think it will become ‘slightly easier’ and only 6% believe it will become harder to obtain. Given the UK needs to build around 250,000 new homes a year to meet growing demand, 21% of those interviewed think the level of government incentives to encourage residential property building will increase dramatically over the next 10 years, and a further 70% think they will increase ‘slightly’. Given this, 82% of estate agents and property developers expect the number of homes built in 2020 will be higher than in 2014. When looking at the South East, which is the main focus of the Fund, the corresponding figure is 79% - On the basis of a final compliance notice from the institutions, the Eurogroup Working Group (EWG) agreed late on Friday that the Greek authorities have now completed the first set of milestones and the financial sector measures that are essential for a successful recapitalisation process. The agreement paves the way for the formal approval by the ESM Board of Directors today for disbursing the €2bn sub-tranche linked to the first set of milestones. It also makes subsequent case-by-case decisions by the ESM Board of Directors on the transfer to the HFSF of the funds needed for the recapitalisation of the Greek banking sector out of the €10bn earmarked for this purpose - The performance of the UK credit card asset-backed securities (ABS) market remained positive during the three months ended August 2015, according to the latest indices published by Moody's. Total delinquencies decreased slightly to 1.54% of the outstanding balance in August 2015 from 1.64% in May 2015 and 1.82% in August 2014. The charge-off rate also decreased to 2.65% in August 2015 from 2.83% in May 2015 and 2.79% a year earlier. The payment rate decreased to 17.47% in August 2015 from 18.56% in May 2015 and 21.72% in August 2014 - ETF Securities Group has listed 18 new 3x short and leveraged commodity ETPs and six new 5x short and leveraged currency ETPs on the LSE today. 2015 has seen increased volatility across currencies and commodities and investors globally have demonstrated an increased interest in short and leveraged ETPs, with ETF Securities own platform experiencing US$135mn of inflows year to date. ETF Securities was the first provider to list European currency ETPs in 2010 and is now the first provider to list 5x short and leveraged currency ETPs on the London Stock Exchange having already launched 3x short and leveraged commodity and 5x short and leveraged currency products in Italy and Germany earlier this year. “We are listing these new short and leveraged products on the London Stock Exchange in response to a strong demand from investors. We have seen tremendous growth in our short and leveraged platform across Europe over the last few years.” says Townsend Lansing, executive director – head of short / leveraged & fx platforms, ETF Securities (UK) Limited. “2015 has been a year of heightened currency volatility. We believe the additional leverage will first and foremost allow investors to use the currency products to hedge currency risk as well provide additional opportunities to trade on a short term basis with a competitive total cost of ownership.” - GoldenSourcea provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions for the securities and investment management industry, says that Cattolica Assicurazioni has selected its Market Data Solution to efficiently deliver robust pricing and accelerate reporting capabilities for Solvency II. GoldenSource will provide Cattolica with a complete solution for constructing and disseminating fully audited data sets which validates and cleanses multiple sources, ensuring accuracy and timeliness in product control and reporting. After a rigorous evaluation process, GoldenSource was selected due to the completeness of the solution, ease of use and its rapid implementation capabilities - Yes Bank, one of several of India’s private banks, recently signed an agreement with the London Stock Exchange (LSE) regarding the listing of green bonds and equity instruments to raise funds for clean energy infrastructure. The bank has announced plans to list green bonds on LSE worth $500m by December 2016. Yes Bank issued the country’s first green bond in February this year in which it raised $150m. A second green bond issue, floated in partnership with the International Finance Corporation (IFC), raised almost $50m. The Indian Import-Export Bank also raised $500m through the first dollar-denominated green bonds issued in India, and is also expected to issue more bonds raising up to $1.5bn over the next two to five years – Was last week a turning point? The US Fed has given its clearest sign yet that it might raise rates in December, as it notes that inflation looks to be reappearing. However, with global growth continuing to slow, a rate rise is not without risks. After a torrid start to fall, Australian shares closed at their highest level in about a month as a brightening economic outlook buoyed consumer stocks and countered pressure from falling commodity prices. The S&P/ASX 200 rose 20.3 points, or 0.4%. Elsewhere, it a mixed, but not altogether a depressing picture. The Shanghai Composite Index closed down 0.6%, amid expectations that a four-month moratorium on public listings could lift soon, triggering investors to sell current holdings. Hong Kong's Hang Seng Index fell 0.4%. South Korea's Kospi rose 0.7%. Markets in Japan were closed for a holiday. The Straits Times Index (STI) ended 14.42 points or 0.49% lower to 2903.49, taking the year-to-date performance to -13.72%. The top active stocks today were DBS, which declined 0.71%, NOL, which gained4.46%, SingTel, which declined1.03%, OCBC Bank, which declined1.23% and UOB, with a 1.25% fall. The FTSE ST Mid Cap Index declined 0.13%, while the FTSE ST Small Cap Index declined 0.45%. Expectations of higher rates strengthened the dollar against most currencies in trading today with the euro falling to a seven-month low at $1.0599, no surprise when you couple the promise of a US rate rise with the ECB holding out for more easing. ECB President Mario Draghi said Friday that the bank stands ready to deploy its full range of stimulus measures to fight low inflation. A stronger dollar also pressured several commodities, which are priced in the currency. Earlier Monday, three-month aluminum prices on the London Metal Exchange fell to their lowest level since May 2009, to $1,438 a metric ton. The price later edged up to $1,441.50. Brent crude oil, the global benchmark, was down 1.8% at $43.84 a barrel. Prices of West Texas Intermediate fell 3.1% to $40.62 a barrel, after falling below $40 a barrel last week. Gold prices fell 0.5% at $1,070.60 a troy ounce - The European Council says it has extended the mandate of the European Union Special Representative (EUSR) for the South Caucasus and the crisis in Georgia until 28 February 2017. Herbert Salber was appointed in July last year. EUSRs promote the EU's policies and interests in troubled regions and countries and play an active role in efforts to consolidate peace, stability and the rule of law. The first EUSRs were appointed in 1996. Currently, nine EUSRs support the work the High Representative of the Union for Foreign Affairs and Security Policy, Federica Mogherini - Taiwan's Ministry of Economic Affairs (MOEA) approved 3,118 foreign direct investment projects (except from China) with a total value of $3.689bn in January-October 2015, respectively increasing 6.34% and decreasing 6.77% on year, according to MOEA statistics released on November 20th. In the same period, MOEA approved 378 outward direct investment projects (except in China) proposed by Taiwan-based companies or individuals with a total value of $9.4bn, respectively dropping 5.74% and growing 40.42% on year. Also in January-October, MOEA approved 135 investment projects proposed by China-based enterprises with a total value of $134.27m. On the other hand, there were 276 approved projects of direct investment in China proposed by Taiwan-based companies or individuals with a total amount of $8.723bn, slipping 17.61% and rising 11.43% respectively on year. Taiwan's Ministry of Economic Affairs (MOEA) approved 3,118 foreign direct investment projects (except from China) with a total value of $3.689bn in January-October 2015, respectively increasing 6.34% and decreasing 6.77% on year.

Latest Video

Chi-X will migrate to BATS Technology at end of April

Friday, 20 April 2012
Chi-X will migrate to BATS Technology at end of April We provide some of the details necessary for traders with the planned migration of Chi-X onto the BATS Technology platform at the end of April.

We provide some of the details necessary for traders with the planned migration of Chi-X onto the BATS Technology platform at the end of April.

BATS Chi-X Europe confirms that the Chi-X Europe migration will occur on Monday, 30th April 2012.


All pricing for order book and onward routing executions will remain unchanged after the technology migration. The current Spanish market pricing promotion on Chi-X Europe will continue on the CXE order book of BATS Chi-X Europe until 30th June 2012.

The consolidated pricing schedule is available for download at the following link

Order Routing

All order routing facilities available on Chi-X Europe (CXE) and BATS Europe (BXE) will continue after the technology migration. In addition, lit venue order routing with the Parallel D and 2D strategies, which are currently available to BXE participants only, will also be available for customers connecting to CXE FIX or BOE order entry ports.  Participants that wish to utilise onward routing facilities but have not already completed a BATS Trading Limited order routing addendum will need to ensure an order routing addendum is in place. The order routing addendum is available for download from the following link:


For existing participants of BXE, billing options and the billing process remain unchanged.  For existing participants of CXE please note that the billing options and billing process will align with BXE from 30th April 2012. Guidance on billing options is available for download at the following link:

Go-Live Weekend Schedule (Thursday 26th – Monday 30th April 2012):

Note all times below are UK

  • Thursday, 26th April at 16.00: Change Freeze – No new Production port requests will be processed after this time, until Monday 30th April, available for Tuesday 1st May.
  • Thursday, 26th April at 17.50: The old Chi-X Europe Certification (UAT) environment will be shut down.
  • Friday, 27th April at 17.50:  The old Chi-X Europe Production environment will be shut down.
  • Saturday, 28th April 2012 08.00 - 12.00: FIX and BOE application ports on the new Chi-X Europe (CXE) environment will be available for participants to conduct session logon and heartbeat tests. 
  • Saturday, 28th April 2012 at 13.00:  Chi-X Europe Go-Live Communication #1.  If all migration work has been successfully completed, then this will be the final weekend communication.
  • Saturday, 28th April 2012 at 18.00:  Chi-X Europe Go-Live Communication #2.  In the unlikely event that there are migration difficulties, then a further notice will be issued to communicate either go or no-go for Monday, 30th April.
  • Monday, 30th April 2012 at 06.30: Participants will be able to logon and establish application level connectivity to all CXE ports in the new environment.
  • Tuesday, 1st May 2012 at 17:00: The old Chi-X Europe FTP server will be shut down.

Note that all TCP ports will be available for telnet network connectivity tests throughout the weekend and multicast feeds will heartbeat, this is the standard BATS Chi-X Europe configuration outside of trading hours.

In the event of any issues over the weekend, Participants will be kept informed via the normal email distribution channels as well as via the BATS Chi-X Europe Alerts webpage:

Go-Live Schedule Monday, 30th April 2012:

 Time Activity
04:00 Reference Data Files Available
06:30 Connectivity available to all CXE BOE, FIX, PITCH and DROP, GRP & SPIN ports
06:30 NOC & TradeDesk available for any connectivity issues
08:00 Start of Trading – Market Open

Rollback Approach:

In the event of any unexpected issues, the following contingency plans will be invoked Action
Irresolvable problems over Go-Live weekend. Trading to continue on old technology platform on Monday.  Expect this to be communicated by 18.00 on Saturday if so.
Post go-live site failure on Monday (or later). Invoke Secondary Datacentre (LD3)
Post go-live software or other system problems on Monday. Resolve if possible, if not, resume trading next day on the old technology platform.


Connectivity:                                           ">  +

Application or Trading Queries:      ">  +

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