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STOXX and Eurex Repo extend GC Pooling Index family to cover the entire money market yield curve
October 16, 2013--STOXX Limited, a leading provider of innovative, tradable and global index concepts, and Eurex Repo, the leading provider for international financing in the secured money market business, today announced the expansion of the STOXX GC Pooling Index family by 14 new indices to cover the full money market yield curve up to twelve months.
Also, an additional funding rate has been introduced that measures secured interbank funding rates and volumes in the euro zone at the short end of the money market curve. The STOXX GC Pooling Indices provide a representation of the secured euro funding transactions taking place on the Eurex Repo GC Pooling Market, and are designed to provide transparent, rules-based alternatives to unsecured interbank benchmarks such as LIBOR and EURIBOR/EONIA.
Furthermore, the STOXX GC Pooling EUR Deposit and STOXX GC Pooling EUR Investable Deposit indices are being launched today. The new indices measure the total return of a hypothetical rolling deposit with an interest rate corresponding to the STOXX GC Pooling EUR Funding Rate. These indices are specifically designed to underlie exchange-traded products.
"As we are still seeing a growing demand for transparent, rule-based and reliable benchmarks for the interbank market from market participants and regulators globally, we are happy to introduce the second wave of our STOXX GC Pooling Indices," said Hartmut Graf, chief executive officer STOXX Limited. "With the addition of the 14 new indices to the family, we now cover the full money market yield curve, and offer market participants a wide variety of yield terms to choose from."
Statistics: Forecasts for the UK economy: October 2013
October 16, 2013--This edition of the comparison contains 19 new forecasts, all of which were received between October 1st and October 9th 2013.
London to get Rmb80bn RQFII quota, but doubts remain
October 16, 2013--Beijing pledges offshore RQFII quota for London, but the city's shallow RMB pool coupled with its trade deficit with China could hinder its prospects of becoming a thriving offshore hub.
China regulators are to make Rmb80 billion ($13.1 billion) in renminbi qualified foreign institutional (RQFII) quota available to financial institutions in London, it emerged yesterday. No timeline was given...
IMF Working paper-Fiscal Consolidation in the Euro Area: How Much Can Structural Reforms Ease the Pain?
October 16, 2013--Summary: The IMF's Global Integrated Monetary and Fiscal model (GIMF) is used to examine the scope for structural reforms in the euro area to offset the negative impact of fiscal consolidation required to put public debt back on a sustainable path.
The results suggest that structural reforms in core countries could quite reasonably be expected to offset the near term negative impact on activity arising from the required fiscal consolidation that uses a plausible mix of instruments to achieve the permanent improvement in the deficit. However, for the periphery, where the required consolidation is roughly twice as large as that required in the core, the results suggest that it would take several years before structural reforms could return the level of output back to its pre-consolidation path.
Euro area annual inflation down to 1.1%
October 16, 2013--Euro area(1) annual inflation was 1.1% in September 2013(2), down from 1.3% in August. A year earlier the rate was 2.6%. Monthly inflation was 0.5% in September 2013.
European Union3 annual inflation was 1.3% in September 2013, down from 1.5% in August. A year earlier the rate was 2.7%. Monthly inflation was 0.4% in September 2013.
These figures come from Eurostat, the statistical office of the European Union.
In September 2013, the lowest annual rates were observed in Bulgaria (-1.3%), Greece (-1.0%) and Latvia.
BATS Chi-x Europe Launches Suite Of Pan-European Trade Reporting Services "BXTR"
BXTR Provides a Transparent, Low-Cost Pan-European Service For On-and Off-Exchange Trade Reporting
October 16, 2013--BATS Chi-X Europe, a pan-European Recognised Investment Exchange, today announced the rollout of BXTR, a suite of on-and-off Exchange Trade Reporting Services, which offers the pan-European trading community a comprehensive solution to report trades with the option to centrally clear and multi-laterally settle their off order book trades.
Mark Hemsley, CEO of BATS Chi-X Europe, said: "As the industry looks ahead to the implementation of new reporting requirements with MiFID II, we see pan-European reporting services as a natural extension of our business. With BXTR we now offer one-stop, full-service trade reporting solutions, which will enable our customers to lower their costs and improve efficiencies in several areas, including settlement netting of trades that are off book."
DB-Synthetic Equity & Index Strategy-ETF Research - European Weekly ETF Market Review
October 16, 2013--The most recent issue of the European Weekly ETF Market Review is now available. The report includes key statistics on the European ETF market as well as global ETF market highlights.
For more detailed coverage please refer to our monthly report, issued in the first week following the end of each month.
Banks cut holdings in Markit
October 16, 2013--Goldman Sachs, JP Morgan, Royal Bank of Scotland and Commerzbank were among the biggest selling stakeholders in London-based financial data provider Markit over the past year.
Though the total number of Markit shares in issue increased over the past year, by 1.75 million, the number of shares held by investment banks decreased, according to Companies House filings this week. The proportion of shares held by banks fell from 71% to 51%, according to the filing dated 11 June 2013. Markit last disclosed its full shareholder list on May 21, 2012.
Dutch, French regulators vie for control of Euronext-sources
October 15, 2013--With IntercontinentalExchange's more than $10 billion (6.2 billion pounds) takeover of NYSE Euronext expected to close early next month,regulators in the Netherlands and France are scrambling to prevent Euronext from once more falling into foreign hands, according to several sources familiar with the situation.
ICE had committed to spinning off Euronext, the operator of stock exchanges in Paris, Amsterdam, Lisbon and Brussels, to secure regulatory approval for the NYSE Euronext deal. But some rivals have expressed an interest in buying the pan-European exchange operator instead.
Boost-Trade Idea of the Week
Looming fiscal cliff, broken safe havens. Here is why to hedge.
October 15, 2013--Summary
Extending the debt ceiling deadline by weeks does not remove uncertainty and keeps the hedge trade alive. A prolonged political dysfunction in the US could portent a diminishing risk appetite, undermining equities
Ahead of 17 October's debt ceiling deadline, the path of equities may be volatile and directionless. Q3 earnings may give an excuse to sell rather than a reason to buy equities
Sentiment on safe haven asset classes has soured. Redemptions from ETFs and money market funds holding US Treasuries could gain momentum and keep yields elevated
Until the US Treasury actually defaults, any budget deal struck in congress is likely to be disinflationary, preventing gold from gaining traction. Weakness of gold may persist
Investors who share this view may consider hedging their long equity positions and shorting precious metals through Boost's short ETPs
