Sunday 30th August 2015
NEWS: Friday, August 28TH: The Hong Kong Monetary Authority says it has granted a restricted banking licence to Goldman Sachs Asia Pacific Company Limited (GSAPCL) under the Banking Ordinance. GSAPCL, incorporated in Hong Kong, is a wholly-owned banking subsidiary of the Goldman Sachs Group, Inc. The number of restricted licence banks in Hong Kong is now 24 - Apple launched its first Australian dollar corporate bond issue, raising $1.2bn within two hours this morning. Strong demand for the US tech giant’s fixed and floating, four and seven year Kangaroo bonds saw the firm outstrip predictions it would raise between $500m and $1bn. Apple bonds are popular because the AA+ rated company is considered an ultra-safe investment, although yields are correspondingly low — about 3% on four-year bonds and about 3.8% on seven-year bonds - The European Securities and Markets Authority (ESMA) has published the responses received to the Joint Committee Discussion Paper on Key Information Document for PRIIPS. The responses can be downloaded from the regulator's website - Romania’s MV Petrom reportedly is planning a secondary listing on the London Stock Exchange. According to Romanian press reports, the local investment fund Fondul Proprietatea may sell a significant stake in the company via public offering on the Bucharest Stock Exchange and London Stock Exchange. OMV Petrom, with a current market capitalisation of €4.85bn has announced that it will ask its shareholders’ approval for a secondary listing in London. The general shareholders meeting is scheduled for September 22nd. Austrian group OMV, holds 51% of the company’s shares; other shareholders include the Romanian state, via the Energy Ministry, with a 20.6% stake, and investment fund Fondul Proprietatea, which holds 19%. The remaining 9.4% is free-float - Morgan Stanley (NYSE/MS) today announced the launch of a new fund, the IPM Systematic Macro UCITS Fund, under its FundLogic Alternatives plc umbrella. The fund provides exposure to IPM’s Systematic Macro strategy, which is based on IPM’s proprietary investment models that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns. The FundLogic Alternatives Platform currently has more than $2.6bn in assets under management (as of 31 July 2015) and this latest addition expands Morgan Stanley’s offering of global macro strategies - Equities sold off hard this morning as continued pressure on Chinese stocks rippled throughout world markets. Chinese government intervention brought the Shanghai Composite back a positive close; but the question is now, has confidence eroded so much that the market will continue to depend on the government to prop it up? The other key element to consider today is the outcome of the debate in the German parliament on the Greek bailout. Last month, a record 65 lawmakers from the conservative camp broke ranks and refused to back negotiations on the bailout. The daily Bild estimated that up to 120 CDU and CSU members out of 311 might refuse to back the now-agreed deal. However, Chancellor Merkel is looking to secure support from the Social Democrats (SPD), Merkel's junior coalition partner, and the opposition Greens which will likely swing the final decision Greece’s way. However, a rebellion by a large number of her allies would be a blow to the highly popular Chancellor.

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SIX Swiss Exchange upgrades platform

Monday, 23 April 2012
SIX Swiss Exchange upgrades platform SIX Swiss Exchange has successfully completed the upgrade of its tradingplatform. The upgrade was developed in collaboration with NASDAQ OMX.At the same time, SIX Swiss Exchange is launching a co-location servicefor the new platform in association with Equinix. Starting today, SIX SwissExchange offers participants the most modern trading technology in theworld. http://www.ftseglobalmarkets.com/

SIX Swiss Exchange has successfully completed the upgrade of its trading
platform. The upgrade was developed in collaboration with NASDAQ OMX.
At the same time, SIX Swiss Exchange is launching a co-location service
for the new platform in association with Equinix. Starting today, SIX Swiss
Exchange offers participants the most modern trading technology in the
world.

SIX Swiss Exchange has successfully completed the upgrade of its SWXess
trading platform with the X-stream INET technology developed by NASDAQ
OMX. SIX Swiss Exchange is the first exchange globally to combine the triedand-
tested capabilities of the X-stream platform with INET trading technology –
the world's fastest.

On April 23rd SIX Swiss Exchange launched equity trading using the very latest
technology. With this step, SIX Swiss Exchange is investing in the future and in
the international growth of Switzerland as a highly successful trading center.
Together with the new co-location service, the system upgrade means that much
higher order volumes (capacity) can be matched and executed in a significantly
shorter time (latency).



This is supported by the efficient and standardised trading protocols, which are also in use at various trading venues. Tests under trading conditions have shown that average round-trip latency is just 37 microseconds.

According to a Swiss Exchange release, each and every participant benefits from this low latency. Participants can put their investment decisions into effect and adjust and reduce their investment risk even faster. Rapid trading, and market data that is distributed with equally low latency, are also key to participants investing or market-making in ETFs, ETPs or structured products. The latest enhancements allow price movements in
underlyings to be identified more quickly, and the corresponding investment and
market-making decisions to be executed more effectively, says the exchange.

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