Thursday 2nd July 2015
NEWS TICKER: WEDNESDAY, JULY 1st 2015: at €149.3bn in June (June 2014: €93.7bn). Some €140.1bn is attributable to Xetra (June 2014: €86.2bn). The average daily turnover on Xetra stood at €6.4 billion in June (June 2014: €4.1 bn).A turnover of €4.1bn was attributable to Börse Frankfurt (June 2014: €3.9bn) - 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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ISDA chief to step down

Tuesday, 22 April 2014
ISDA chief to step down The International Swaps and Derivatives Association, (ISDA) says that its chief executive officer Robert Pickel will step down from his role later this year.  http://www.ftseglobalmarkets.com/

The International Swaps and Derivatives Association, (ISDA) says that its chief executive officer Robert Pickel will step down from his role later this year. 

Pickel has led the association through a period of unprecedented change, including industry preparation for and adoption of key over-the-counter (OTC) derivatives reforms including the Dodd-Frank Act, the European Market Infrastructure Regulation.

“After nearly 17 years in a variety of roles at ISDA, and with many reforms implemented or largely under way, I believe that now is a good time to explore other opportunities,” says Pickel. “I appreciate the support of the ISDA board throughout my time with ISDA and look forward to working with the board to transition to new leadership. I have been fortunate to work with an incredible staff over the years, and I know that their dedication to this organization will ensure a seamless transition.”



Stephen O’Connor, ISDA chairman says: “Bob has led ISDA through an incredibly important and challenging time for the derivatives industry, and the board and I are very grateful for all his hard work and unflappable leadership. I’ve enjoyed working closely with him as chairman over the past three years, and I, together with the entire board, wish him all the best for the future.”

“Bob has been a tireless advocate for ISDA and our mission to ensure safe, efficient markets,” echoed Eraj Shirvani, former ISDA chairman and managing director, head of Fixed Income EMEA at Credit Suisse. “His wise counsel, thoughtful insights and steady

Pickel has agreed to continue in office during a transition phase, as the board turns to the task of appointing a successor.

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