Sunday 24th July 2016
NEWS TICKER: JULY 22nd 2016: Apple Inc is planning to open its first Apple Store in Taiwan, a move that comes after the U.S. technology giant raised $1.38 billion in a bond offering last month on the island that is home to many companies in its supply chain -- Taiwan stocks fell in the Asian session today after hitting a more than one-year high in the previous session, tracking losses in overseas markets. The main TAIEX index was down 0.4% at 9,019.87, after closing 0.5% higher in the previous session. Taiwan's export orders from China, in data issued earlier this week, showed slippage in June, hurt by weaker demand for displays, though not by as much as expected. Even so, the Taiwan dollar softened TAD0.019 to TAD32.079 per US dollar - Phillip Capital Group, an Asian financial services provider with $30bn 3 in assets under custody and management, has appointed BNP Paribas Securities Services to service its Singapore-based funds. BNP Paribas Securities Services is a global custodian with USD 9 trillion in assets under custody. Phillip Capital Management (S) Pte Ltd (PCM) has migrated its largest SGD money market fund to BNP Securities Services Singapore. This will help the company enhance operational efficiency and fulfil its regulatory requirements. For example, the company will be able to manage, track and report on its funds in a consistent and timely fashion. The long-term benefits will enable a standardised and scalable approach to custody services being extended into other locations for PCM. Phillip Capital Management (HK) Ltd is also working with BNP Paribas Securities Services to launch a fund in Hong Kong -- Following the event strewn Republican Convention this week, next week it is the turn of the Democrats. The Democratic National Convention is set to take place in Philadelphia from July 25th to 28th. The event is scheduled to be held at the Wells Fargo Center -- China's CSI 300 index and the Shanghai Composite both slipped about 0.5% in the Asian session today, with losses of around 1% for the week. Japan's Nikkei 225 closed down 1.1%, dragged down by the yen's 1% rally on Thursday – a trend that has been apparent all year. The index is still up 0.8% in a week in which it touched an eight-week high thanks to an initially weaker yen and expectations of fiscal and monetary stimulus, though in an interview with BBC radio this week, the Bank of Japan said that it did not believe in ‘helicopter money’ and that its current strategy was adequate to lift the economy out of its funk. The central bank’s next policy decision is expected on July 29th

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New sec lending trading platform picks Eurex Clearing as CCP

Monday, 23 September 2013
New sec lending trading platform picks Eurex Clearing as CCP Eurex Clearing has been chosen to provide a central counterparty (CCP) service to a new electronic trading marketplace for stock lending transactions.  http://www.ftseglobalmarkets.com/

Eurex Clearing has been chosen to provide a central counterparty (CCP) service to a new electronic trading marketplace for stock lending transactions. 

Set to launch later this year, the new platform dubbed SL-x, will provide automated matching, negotiated trades and CCP access following the link-up with Eurex.

Traditionally, the sec lending market has been an OTC market. However as new regulatory initiatives, including Basel III, aim to reduce systemic market risk in the global financial system, the central clearing of OTC transactions is being encouraged. 



Eurex Clearing will now handle the clearing for all borrowing and lending transactions when SL-x launches in 17 European equity markets in this year’s fourth quarter.

At the outset, Eurex Clearing will offer central clearing for SL-x’s borrowing and lending transactions in Belgian, Dutch, French, German and Swiss stocks. In these initial five markets SL-x’s platform aims to include approximately 2,000 stocks and Exchange Traded Funds that represent over 90% of these markets’ stock on loan.

Eurex Clearing’s Lending CCP started in November 2012 and covers equities, fixed income, and ETFs. Since then, it has attracted the commitment of major market participants. Both Eurex and SL-x will work on the extension of the CCP service to other major European equity markets.

“We are very pleased to further expand distribution for the Lending CCP by working with SL-x. Our Lending CCP is widely recognized as industry leading and the first to preserve the special structure of the lending market. It helps banks to reduce the amount of capital they require to run their SBL businesses, enables them to improve operational efficiency, and reduces counterparty credit risk”, says Thomas Book, chief executive officer of Eurex Clearing.

SL-x’s chief executive officer Peter Fenichel adds: “We are delighted that Eurex Clearing will be able to offer our clients central clearing from day one of our launch later this year. This agreement is an important step for both businesses on the way to providing CCP-backed SBL transactions.”

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