Tuesday 30th June 2015
NEWS TICKER, MONDAY, JUNE 29TH : The mobile service provider CM Telecom says the company will move into mobile payments and has founded CM Payments, a new payment service provider (PSP) that will operate internationally. CM Payments opens its office in Amsterdam. CM was founded in 1999 in Netherlands and specialises in worldwide mobile messaging and payments. The company declares they already have in-house technology and the platform, which can process a large number of transactions per second utilises this technology for the expanded service. The platform also offers connectivity to multiple payment methods including VISA, MasterCard, Paypal, iDeal, Microincasso and Bancontact (Belgium). CM Payments wants to expand cooperation with a number of existing CM customers by using the capabilities of the payment platform. The group consists of, among others, authorities, fundraising institutions, media, e-commerce and telecom players. After a closed beta period, CM Payments will go public. - Despite offering the first prepaid MasterCard with 14 currencies on a single card at ‘spread free’ exchange rates, Centtrip is urging holidaymakers visiting Greece in the next few days to physically take enough spending money for their entire holiday, because it believes local merchants may impose limits on how much they will accept by card, or reject cards altogether as they fear they will not be able to access funds from their own banks. Centtrip hopes that the level of uncertainty facing Greece will be removed soon, and that it can start recommending people use cards again when visiting the country. Greece has announced that banks will be closed until July 6TH – the day after a referendum on bailout proposals, and there is a €60 euro limit on ATM withdrawals. However, foreign tourists, a key driver of the Greek economy, will be exempt from the restrictions. Brian Jamieson, Co-Founder and Managing Director of Centtrip, said: “Although customers will be able to use our Centtrip card and others at ATMs, they will be faced with long queues to withdraw their money. Local merchants may also impose limits on how much they will accept by card or reject these altogether because they may be concerned about accessing funds from their own bank. During the current situation in Greece and the uncertainty that prevails, we are advising people to take all the spending money they think they will need for their entire holiday in hard physical Euros. As the situation develops, we will provide further recommendations to our clients and to those travelling to Greece.” - Scotiabank's Commodity Price Index climbed by 4.7% month-over-month (m/m) in May -- the second consecutive monthly gain -- though the All Items Index remains -26.5% below a year earlier. "While global economic conditions remain lacklustre, international oil prices have lifted off bottom and supply disruptions in Western Canada's oil patch have pushed up domestic netbacks," says Patricia Mohr, vice president of Economics and Commodity Market Specialist at Scotiabank. "May and June have witnessed an extraordinary narrowing of the discounts on Western Canada's light and heavy crude oil off West Texas Intermediate (WTI) -- the North American benchmark -- a trend which will continue into July. The Forest Product Index edged down in May by -0.2% m/m and is still -11.5% below a year earlier. However, strong US housing permits in May and a growing backlog of sold, but not yet started units, points to stronger residential construction in coming months. The basic supply of shelter in the U.S. is tightening, with apartment vacancy rates at a mere 4.2% - propelling multiple-unit building permits to an annualized 592,000 units in May, the highest level since January 1990. Western Spruce-Pine-Fir 2x4 lumber prices have jumped back to US$300 per thousand board feet from US$262 in April and US$256 in May. After investors bid up LME zinc prices as high as $1.09 per pound in early May, zinc prices have unwound alongside copper to the US$0.92 mark in late June. However, closure of the Century mine in Australia and Lisheen in Ireland in 2015:Q3 will tighten world supplies, sending prices significantly higher by year end. Chinese interest in copper and other mining investments remains strong - a sign that the 'bull run' in base metals is expected to return later in the decade.

Latest Video

Eurex partners with Moscow Exchange on FX trading

Thursday, 22 August 2013
Eurex partners with Moscow Exchange on FX trading Moscow Exchange and Eurex have signed a cooperation agreement for the trading of foreign exchange (FX) derivatives. The deal means Eurex Exchange will launch Euro/Russian Rouble and US Dollar/Russian Rouble FX futures on its trading system in this year’s last quarter, with the Rouble futures settled using Moscow Exchange settlement prices. http://www.ftseglobalmarkets.com/

Moscow Exchange and Eurex have signed a cooperation agreement for the trading of foreign exchange (FX) derivatives. The deal means Eurex Exchange will launch Euro/Russian Rouble and US Dollar/Russian Rouble FX futures on its trading system in this year’s last quarter, with the Rouble futures settled using Moscow Exchange settlement prices.

Alexander Afanasiev, chief executive officer of Moscow Exchange, and Andreas Preuss, deputy chief executive officer of Deutsche Börse and chief executive officer of Eurex, signed the agreement in Frankfurt/Main today.

Yesterday, Eurex revealed it would enter the foreign-exchange market in October and launch a range of currency derivatives. FX contracts will be available as exchange-listed products with Eurex initially offering futures and options on the six currency pairs where the bulk of over-the-counter trading takes place. EUR/USD, EUR/GBP, EUR/CHF, GBP/USD, GBP/CHF and USD/CHF.



Peter Reitz, member of the Eurex executive board, said: “The large majority of FX derivatives are currently traded off-exchange. With our listed contracts we are offering an alternative in which we bring the advantages of exchange trading, including clearing, to a market that has so far been organised predominantly bilaterally.

Moscow Exchange chief executive officer, Alexander Afanasiev, says the partnership with Eurex brings exciting new trading and hedging opportunities for investors. “Today we agreed to launch Rouble FX futures in Frankfurt. Also, this autumn, Moscow Exchange will launch futures on five German blue chip stocks. Cross-listing arrangements between Deutsche Börse Group and Moscow Exchange allow our clients to build new trading strategies and better manage their risks. We believe that our joint initiatives with Deutsche Börse will strengthen national markets and facilitate the continued development of Frankfurt and Moscow as financial centres.”

“We are very pleased to have reached the next milestone of our partnership. This new cooperation fits perfectly into our goal to constantly expand our product offering as it will complement our planned FX product suite”, adds Andreas Preuss.

Related News

Related Articles

Related Blogs

Related Videos

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