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EuroCCP Launches Clearing Service For US Equity Issues - First European Equities Clearing Service That Supports Trading Of US Securities During European Trading Hours With Settlement In DTC
April 14, 2010-- EuroCCP announced today that it has launched a new service offering central counterpary clearing of trades in US stocks and US exchange-traded funds (ETFs) to European trading firms. EuroCCP is the first European equities central counterparty (CCP) clearing US securities and settling them directly in the central securities depository in their home market of issue, The Depository Trust Company (DTC).
EuroCCP’s new service gives European trading firms their first-ever opportunity to trade US securities on a variety of pan-European platforms during European trading hours and to settle those trades in DTC. By offering a service where US securities settle directly at the US CSD, EuroCCP provides European trading firms with a more cost-effective post-trade solution.
Its clearing service for US issues allows EuroCCP to extend the efficiency, cost-saving and counterparty risk protection benefits it already provides to clients’ European-listed securities transactions to US stock and US ETF transactions. Initially, the US securities eligible for clearing through EuroCCP include approximately 100 stock issues and 50 ETFs. EuroCCP expects over time to expand the scope of eligible instruments to further equities, ETFs, and to ADRs.
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Source: EuroCCP
FESE European Equity Market Report – March 2010 Figures
April 14, 2010--The March FESE European Equity Market Report is now available.
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Source: FESE
EEX copes with financial market crisis with a dip in growth in
April 14, 2010--Sales and profit situation stable in spite of decline in trading by participants from
the financial markets – Trade volumes from energy sector increase further –
Cooperation with Powernext implemented – Structures and processes strengthened
further – Positive outlook for 2010
The financial market crisis has had a considerable impact on
the past financial year 2009 of European Energy Exchange AG (EEX). This was primarily
due to the decline in trading activities by participants from the financial market
sector on the Power Derivatives Market, which could not be fully offset by the
increased trade volumes generated by the participants from the energy sector. In spite
of these adverse effects, however, the sales and profit situation of EEX remained stable
during the financial year 2009. “EEX has generated good results even under the difficult
conditions of the past year“, Iris Weidinger, Chief Financial Officer of EEX AG,
comments.
The consistently high trust which the market, the trading participants and the partners place in the stability of the EEX exchange platform, its structures, processes and the security constituted an essential factor for the development of business which was satisfactory overall with regard to the economic situation. “
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Source: EEX
Turquoise To Launch US Equity Trading
April 14, 2010--The London Stock Exchange PLC (LSE.LN) said Wednesday that Turquoise is to expand its trading services into U.S. securities, leveraging the relationship between Euro CPP and DTCC.
-From April 23, Turquoise will offer trading in 175 of the most liquid U.S. equities, ADRs and ETFs.
-Trading will be in U.S. dollars, with clearing through Euro CCP and settlement in DTC.
-Trading service will be free for three months, with a maker-taker basis points tariff introduced thereafter.
-Shares at 0905 GMT up 1 pence, or 0.1%, at 758.5 pence valuing the company at GBP2.06 billion.
Source: ADVFN
Central bank announces exit strategy from crisis measures
April 14, 2010--The Turkish Central Bank is looking ahead to a period of strong growth and has announced plans to roll back the extraordinary measures put into place during the economic crisis of 2009.
According to an announcement by the bank released yesterday titled “Monetary Policy Exit Strategies,” the bank has set out a strategy to cope with the economic developments of the post-crisis period. The central bank’s strategy will be to pump less liquidity into the market in the coming period by cutting back on the amount of funds it provides.
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Source: Todays Zaman
Greek bonds falter again, Portugal raises two billion euros
April 14, 2010--Greece was back under pressure on Wednesday as investors demanded higher borrowing rates to take its bonds while Portugal, also facing debt problems, successfully raised two billion euros.
The turnaround for Greece was unwelcome, reversing gains made since an EU-IMF debt contingency plan was agreed Sunday even as the government got its new tax regime through parliament, a key step to improving the public finances.
The yield, or the rate of return paid on Greek 10-year benchmark bonds jumped to 7.034 percent in late trade Wednesday, up from 6.815 percent on Tuesday and 6.637 percent on Monday.
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Source: EUbiusiness
Industrial production up by 0.9% in euro area Up by 0.7% in EU27
February 2010 compared with January 2010
April 14, 2010--In February 2010 compared with January 2010, seasonally adjusted industrial production1 grew by 0.9% in the euro area2 (EA16) and by 0.7% in the EU272.
In January 20103 production increased by 1.6% and 1.7% respectively. In February 2010 compared with February 2009, industrial production increased by 4.1% in the euro area and by 3.5% in the EU27. These estimates are released by Eurostat, the statistical office of the European Union.
Monthly comparison In February 2010 compared with January 2010, production of intermediate goods increased by 1.5% in the euro area and by 1.4% in the EU27. Capital goods rose by 0.9% and 0.6% respectively. Non-durable consumer goods fell by 0.2% in the euro area and by 0.6% in the EU27. Production of energy decreased by 0.4% and 1.6% respectively. Durable consumer goods dropped by 0.6% in the euro area and by 0.2% in the EU27.
Among the Member States for which data are available, industrial production rose in seven, fell in thirteen and remained stable in France and Italy. The highest increases were registered in Slovenia (+6.4%), Luxembourg (+3.6%) and Denmark (+1.8%), and the largest falls in Bulgaria (-5.7%), Latvia (-3.0%) and Greece (-2.9%).
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Source: Eurostat
Greek bailout masks Argentine slippery slope: analysts
April 14, 2010--Europe's bailout will only stick a patch on Greek finances and do nothing for the euro's long-term health, with the slippery slope to an Argentina-style default a real concern, analysts warn.
"It all seems horribly reminiscent to those early days when Argentina slid towards a cruel collapse," said Canadian Peter Boone, a research associate at the London School of Economics, in a detailed paper that argued against International Monetary Fund support.
Money simply "gives time to politicians to understand that the situation is very serious -- and that can have very serious consequences" if leaders do not take appropriate measures, added Zsolt Darvas, a research fellow at the Bruegel Institute in Brussels.
Amundi ETF registers 46 products in the Netherlands Valérie Baudson, Director of Amundi ETF comments: “Our entry into the Dutch market is definitely a key element in our expansion strategy. These newly-registered ETFs will give Dutch investors local access to a wide series of tools, supported by three key strengths which characterise the Amundi ETF range: competitive prices, high quality products and continuous innovation." The Amundi ETF range is distributed throughout Europe by dedicated sales teams at both Amundi and CA Cheuvreux. Thierry Ancona, Head of Sales Continental Europe at CA Cheuvreux, adds, “The Dutch market is one of the leading European markets by volume of ETF transactions. The registration of Amundi ETF products on this market establishes a fundamental step in the development of CA Cheuvreux’s service to Dutch institutions.” “The local registration of ETFs constitutes the first step of our ETF distribution activities in the Netherlands,” added Eric Van Eyken, General Manager at Amundi Benelux. “Thanks to its competiveness, innovation, transparency, and negotiability, our ETF range offers all of the characteristics required to meet the demands of the financial market players in the Netherlands.” read more NASDAQ OMX To Launch Nordic Fund Market
The Swedish fund market has experienced significant growth during the last decades, with over 1.600 billion SEK in AUM (Assets Under Management) in 2009 and more than 4000 funds registered. Funds from Fidelity International, one of the world's leading fund companies, will be available on the new platform from start.
Asgeir Thordarson, Head of Fidelity's business in the Nordic Region commented, "We believe that initiatives to automate fund transactions are positive for the whole industry and that these efficiency gains will benefit all parties, including the end investor." read more If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: EUbusiness
April 14, 2010--Amundi ETF, expertise of Amundi group – the asset management company of Crédit Agricole and Société Générale – today announces the registration of 46 Exchange Traded Funds (ETFs) in the Netherlands. This registration is in line with the international development strategy of Amundi ETF which consists of launching cross-registrations and/or multi-listings processes throughout Europe.
The Amundi ETF range comprises 78 products which, with management fees 20% below the average in Europe*, are characterised by their highly competitive price structure. European investors had access to the Amundi ETF range products on three major European stock exchanges: NYSE Euronext Paris, Deutsche Borse and Borsa Italia. As of now, Dutch investors have access through a local registration.
Source: Amundi
April 14, 2010--NASDAQ OMX announces that it will launch a new Nordic fund market aimed at investment fund distributors. The Nordic Fund Market (NFM) intends to provide an electronic alternative to manage the transactions between fund distributors and fund management companies. Today these transactions are predominately handled manually via fax. NFM will launch in Sweden at the end of April this year with the goal to eventually roll out the offering in all Nordic countries.
Erik Thedéen, President at NASDAQ OMX Stockholm said, "As the number of fund transactions continues to grow there should also be an infrastructure in place that can accommodate this increase in demand. Through NFM we are offering an electronic platform that will raise the general security in the system and enable efficiency and transparency advantages that will benefit the entire fund industry."
Source: NASDAQ OMX
