Thursday 24th July 2014
slib33
WEDNESDAY TICKER: JULY 23RD 2014 - According to a local press reports, the Mobileye initial public offering on Wall Street will be valued at approximately $3.8bn. The original prospectus was for a valuation between $3.5-5bn, making the actual valuation at the lower end of estimates. The Israeli company will offer 8.325m shares at a price of $17-19 per share. The offering will most likely take place in two weeks, when the stock will be traded under the ticker MBLY on the New York Stock Exchange. Mobileye was founded in 1999 and has developed a camera-based system to mount on vehicles in order to aid in collision prevention - Rubicon Minerals Corporation has closed its previously announced bought deal financing of 7,060,000 flow-through common shares of the Company at a price of C$1.70 per Flow-Through Share for aggregate gross proceeds to the Company of C$12m. The Offering was conducted by a syndicate of underwriters co-led by TD Securities Inc. and BMO Capital Markets, and included National Bank Financial Inc. and Canaccord Genuity Corp. The gross proceeds from the offering will be used to incur eligible Canadian Exploration Expenses - BNP Paribas 2nd Quarter 2014 Results will be available on Thursday 31 July 2014 from 6.00 am (London time). A live webcast in English with synchronised slides of the analysts conference call hosted by Lars Machenil, chief financial officer, will be available on the bank’s website starting at 1.00 pm (London time) - After six years of severe recession that led to a cumulative loss of 1.1m jobs, the Greek labour market has started to show signs of recovery says National Bank of Greece. More than two thirds of employment losses in the private sector (730,000 jobs) are due to the closure of about 220,000 micro and small firms (30% of the existing micro and small enterprise population) together with layoffs in this segment. NBG Research’s composite indicator of employment trends, that combines information from forward-looking and coincident indicators, points to an employment growth of +0.6% y-o-y in Q3:2014 (or +20,000 jobs) and +0.9% y-o-y (or +32,000 jobs) in Q4:2014 compared to the same period of 2013 - Trading Technologies International, Inc. (TT), a provider of high-performance professional trading software, says Robbie McDonnell has been transferred to EVP Global Sales from VP/Managing Director of Asia/Pacific. McDonnell will relocate from Sydney to TT’s headquarters in Chicago, where he will report directly to CEO Rick Lane and be responsible for leading TT’s worldwide sales operation - Eze Software Group, a provider of global investment technology, has expanded its Regulatory Filings Manager service to support Alternative Investment Fund Managers Directive (AIFMD) Annex IV filings. Clients can now leverage the robust functionality of this enterprise reporting solution to generate necessary reports in accordance with the compliance deadlines of AIFMD. Proposed by European Securities and Markets Authority (ESMA) last year, AIFMD requires that alternative investment funds meet specific risk management standards for better monitoring, measuring, and reporting. Funds need to provide supervisory authorities with detailed investment data on a quarterly or bi-annual basis for increased transparency into funds’ activity. “Our AIFMD solution is a natural extension of all that we have learned in helping our clients file Form PF and CPO-PQR,” explains Michael Hutner, senior managing director and co-head of global sales for Eze Software Group - Cordea Savills, the international property investment management company, has purchased three canal side office buildings in Camden, North London for a total of £14.07m on behalf a corporate pension fund client. The complex is on the former site of the Camden Brewery and comprises three buildings. Elephant House and The Cooper’s Building are Grade II-listed and let to Viacom for over 8 years. The Lock Building is let to a Charity, which offers the potential for redevelopment in the short term as there are mutual break options in 2015. Cordea Savills’ were represented by Fineman Ross and CBRE acted for the vendor, Derwent London -

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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