Wednesday 1st July 2015
NEWS TICKER: WEDNESDAY, JULY 1st 2015: Equity trading volumes on the Vienna Stock Exchange amounted to €30.60bn from January to June 2015. This corresponds to an increase of 24 % versus the same period last year. Following particularly lively turnover in March, trading activity has remained strong in subsequent months. The average monthly turnover in the first half-year was around €5.1bn, 28% higher than in the previous year (2014: €3.98bn). Rising prices were not the only factor driving up trading volumes - the number of exchange trades was also up this year from 38.8% (exchange trades executed: HY1 2014: 2.85m; HY1 2015: 3.96m). Austrian companies have raised a volume of €195m in fresh capital through capital increases in the first half of 2015 - Markit (Nasdaq: MRKT), the financial information services provider, says it has completed its acquisition of Information Mosaic, a software provider for corporate actions and post trade securities processing. The Information Mosaic business is being integrated into Markit’s Solutions division and will be led by Paul Taylor, managing director, reporting to Michele Trogni, managing director and cohead of Solutions - Gerry Rice, director of communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today: “I confirm that the SDR 1.2 billion repayment (about EUR 1.5bn) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared. I can also confirm that the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course.” - Morningstar has downgraded the Neptune European Opportunities fund to a Morningstar Analyst Rating™ of Bronze. The fund previously held a Silver rating. The fund remains a solid choice as an unconstrained European equity offering, boasting a talented and longstanding manager in Rob Burnett. However, the risk-return profile of the fund has deteriorated over recent years as the manager has made a number of ill-timed shifts in the portfolio which have resulted in significant performance variability and heavily weighed on the fund’s three- and five-year risk-adjusted returns. Whilst Morningstar continues to think very well of Burnett and expects investors to benefit from his moves to limit short-term trading and make better use of the risk management tools at his disposal, Morningstar believes a Bronze rating provides a better reflection of the fund’s relative merits – The shares of Cassiopea were traded for the first time under the Main Standard of SIX Swiss Exchange, opening at CHF35.00. This corresponds to a total market capitalisation of around CHF350m - Further to its public offer of up to 1,000,000 Certificates to be issued by Deutsche Bank AG under its X-markets programme, the bank has issued 45,000 securities at a price of U$100 per certificate today. Application has been made for the Securities to be admitted to listing on the official list of the Luxembourg Stock Exchange and to trading on the Euro-MTF market of the Luxembourg Stock Exchange - The Straits Times Index (STI) ended 13.81 points or 0.42% higher to 3331.14, taking the year-to-date performance to -1.01%. The top active stocks today were Singtel, which gained 1.19%, SGX, which gained 4.47%, DBS, which declined 0.92%, OCBC Bank, which declined 0.10% and Global Logistic, with a 1.19% advance. The FTSE ST Mid Cap Index gained 0.09%, while the FTSE ST Small Cap Index rose 0.14%. The outperforming sectors today were represented by the FTSE ST Real Estate Holding and Development Index, which rose 1.35%. The two biggest stocks of the Index - Hongkong Land Holdings and Global Logistic Properties – ended 2.32% higher and 1.19% lower respectively. The underperforming sector was the FTSE ST Technology Index, which slipped 1.63%. Silverlake Axis shares declined 3.57% and STATS ChipPAC gained 0.97%.

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eSecLending auctions $43bn for CalPERS

Thursday, 31 May 2012
eSecLending auctions $43bn for CalPERS eSecLending, the global securities lending agent, says it has conducted a securities lending auction of $43bn in US equities for the California Public Employees’ Retirement System (CalPERS). CalPERS awarded Citi exclusive borrowing access to $28bn of the assets through a bidding process in May 2012. The remaining assets were awarded to other participating bidders and to eSecLending’s discretionary lending program. http://www.ftseglobalmarkets.com/

eSecLending, the global securities lending agent, says it has conducted a securities lending auction of $43bn in US equities for the California Public Employees’ Retirement System (CalPERS). CalPERS awarded Citi exclusive borrowing access to $28bn of the assets through a bidding process in May 2012. The remaining assets were awarded to other participating bidders and to eSecLending’s discretionary lending program.

“We are very excited about the results of the recent US equity auction,” says Dan Kiefer, Opportunistic Portfolio Manager for CalPERS. "eSecLending’s auction process once again optimized our assets in a transparent and disciplined manner. We look forward to working with Citi in the coming term.”

“We are thrilled to have won these assets and deepen our relationship with CalPERS”, said Alan Pace, head of prime finance in the Americas at Citi. “This win is a testament to the growth we have experienced in our Prime Finance franchise as well as our continued commitment to provide our clients with access to the highest quality borrow.”



Securities lending plays a significant role in today’s global capital markets. The practice improves overall market efficiency and liquidity, provides a critical element for hedging, acts as a useful tool for risk management in trading and investment strategies and helps to facilitate timely settlement of securities. With the balance of securities on loan at the end of April 2012 exceeding $1.9trn globally, securities lending has evolved from a back office operational function to an investment management and trading discipline.

eSecLending is an independent global securities lending agent providing customized securities lending solutions for institutional investors worldwide. The company’s innovative approach has introduced investment management practices to the securities lending industry, offering beneficial owners a compelling alternative to traditional pooled lending programs. Their differentiated process facilitates best execution by utilizing a transparent, disciplined and repeatable auction process to determine their clients’ optimal securities lending strategy. In addition to outperformance, their approach provides clients with greater transparency and control, allowing them to more effectively monitor and mitigate risks.

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