Saturday 4th July 2015
NEWS TICKER: FRIDAY, JULY 3rd: Euronext says trading volumes for June 2015 and enterprise-wide activity for the first half year. During the first six months of 2015, Euronext posted the strongest six-month performance since the end of 2011 supported by favourable economic conditions. June average daily transaction value on the Euronext cash order book stood at €9,202m (+54% compared with June 2014). Activity on ETFs remained particularly dynamic last month with an average daily transaction value at €587m, up 106% compared to June 2014. Cash markets saw a material increase in trading activity across the first half of 2015, with an average daily transaction value for the period up 35% vs 2014. During this period, Euronext experienced three of the ten highest volume traded days since January 2012, and on march 20th the strongest single day of trading cash products of €18bn since the same date. In the meantime, the continued focus on nurturing domestic market share meant it returned to 65% for the month of June in a highly competitive environment - Morningstar has placed the Morningstar Analyst Rating for the Mirabaud Equities Swiss Small and Mid-fund Under Review following the appointment of new portfolio manager, Paul Schibli. The fund previously held a Neutral rating. Morningstar manager research analysts will meet with the new manager soon to reassess Morningstar’s opinion on the fund - Moody’s has today changed the outlook on all ratings of Bridge Holdco 4 Ltd, the ultimate holding company for Bridon Group, to stable from positive. Concurrently, the group's B3 Corporate Family Rating (CFR), B3-PD Probability of Default Rating (PDR) as well as the B2 instrument rating on the USD286 million senior secured first lien term loan, $40m senior secured revolving credit facility and the Caa2 rating on the $111m senior secured second lien term loan borrowed by Bridge Finco LLC have been affirmed - Subsea 7 S.A. repurchase of convertible bonds has filed a notice with the Luxembourg stock exchange that it has repurchased convertible bonds worth $10m in nominal value at an average price of 91.5 of the $700m 1% Subsea 7 S.A. Convertible Bond Issue 2012/2017 (ISIN NO: 001066116.8). Following the purchase, the Company holds bonds with an aggregate nominal value of USD 91,800,000 representing approximately 13.1% of the 1.00% Subsea 7 S.A. Convertible Bond Issue 2012/2017 - Bellpenny says that its CEO, Kevin Ronaldson, will step down later this year to become ‘Founder Director’ of the business. Nigel Stockton, who has been a director of Bellpenny since inception, will, subject to FCA approval, become the new CEO. The changes are expected to take effect in September - The Straits Times Index (STI) ended 14.89 points or 0.45% higher to 3342.73, taking the year-to-date performance to -0.67%. The top active stocks today were DBS, which gained 2.00%, Singtel, which closed unchanged, Global Logistic, which declined 0.39%, Ascendas REIT, which gained 0.42% and UOB, with a 0.43% advance. The FTSE ST Mid Cap Index gained 0.16%, while the FTSE ST Small Cap Index declined 0.30%. Outperforming sectors today were represented by the FTSE ST Financials Index, which rose 0.69%. The two biggest stocks of the Index - DBS Group Holdings and OCBC- ended 2.00% higher and 0.79% higher respectively. The underperforming sector was the FTSE ST Basic Materials Index, which slipped 0.89%. Midas Holdings shares declined 1.56% and NSL increased 0.67%.

Latest Video

EEX creates Pan-European OTC Clearing Service Offering - Three further products to be launched in February

Thursday, 14 February 2013
EEX creates Pan-European OTC Clearing Service Offering - Three further products to be launched in February The European Energy Exchange (EEX) is expanding its range of OTC clearing services step by step, to include additional products not traded on EEX or other European Commodity Clearing (ECC) partner exchanges. Together with the clearing house ECC, EEX will launch three further products for OTC clearing on 25 February 2013. http://www.ftseglobalmarkets.com/

The European Energy Exchange (EEX) is expanding its range of OTC clearing services step by step, to include additional products not traded on EEX or other European Commodity Clearing (ECC) partner exchanges. Together with the clearing house ECC, EEX will launch three further products for OTC clearing on 25 February 2013.

“Given the changing regulatory and political environment, clearing through a central counterparty gains in importance”, states Peter Reitz, chief executive officer of EEX Group. “In this context, we will provide market participants with a pan-European offering for clearing their bilateral energy trading activities through ECC and in so doing, increase our coverage to further commodities and regions”.

Hence, EEX and ECC will offer financially settled Scandinavian power futures for clearing. ECC already clears power futures for delivery in Germany, France, Austria, Belgium and the Netherlands, as well as Great Britain and Hungary. Since December, EEX and ECC have offered Romanian power futures as an OTC cleared product. As part of the co-operation with the Power Exchange Central Europe (PXE), ECC will provide clearing for Czech and Slovakian power in the near future also.



“Through integrated clearing of all products, participants benefit from standardised processes and netting effects which reduce the costs for clearing significantly. Through Cross Margining, only the net positions are offset against each other. Thus, participants who clear their Scandinavian power positions at ECC can achieve cost advantages”, explains Dr. Thomas Siegl, Chief Risk Officer of EEX Group.

Furthermore, from the end of February, two Euro-denominated coal futures based on Argus McCloskey API 2* and API 4* indices will be offered for clearing via ECC. This will enable, for example, companies which want to hedge power deliveries from coal plants, to settle coal futures in Euros, which considerably simplifies the processes for these participants.

The new OTC clearing products are designed for market participants all over Europe who want to use the benefits of the integrated clearing model for their energy trading activities. Therefore, EEX is taking a further step in bringing more volumes from the OTC market onto the exchange. All contracts are settled financially on the basis of established market indices. The new products can be registered for clearing via the exchange, either by brokers or directly by the counterparties.

European Energy Exchange (EEX) is the leading energy exchange in Europe. EEX develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances and coal are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of Eurex Group.

European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. ECC ensures clearing, as well as physical and financial settlement of transactions concluded on APX-ENDEX, CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX and Powernext and offers OTC Clearing services in addition.

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP