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Frontloading Fears Remain Despite Esma Guidance
January 2, 2014--Dealers say they still do not know how to price swaps that could be caught by so-called frontloading requirements in Europe
-under which a trade that has already been executed may have to be sent to a clearing house months or years later.
That is despite new guidance provided by the European Securities and Markets Authority (Esma) on December 20, which narrows the window of uncertainty.
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Source: .derivalert.org
Turnover at Deutsche Borse's cash markets at 1.16 trillion euros in 2013
85.4 billion euros turnover in December
January 2, 2013In 2013, €1.16 trillion were turned over at the cash markets of Deutsche Börse (2012: €1.16 trillion).
Order book turnover on Xetra, the Xetra Frankfurt specialist trading and Tradegate stood at €85.4 billion in December (December 2012: €68.3 billion). Of the €85.4 billion, €77.2 billion were attributable to Xetra (December 2012: €62.5 billion). €4.2 billion were attributable to the Xetra Frankfurt specialist trading (December 2012: €3.5 billion).
Order book turnover on Tradegate Exchange* totalled approximately €4.0 billion in December (December 2012: €2.4 billion).
In equities, turnover reached €72.8 billion on Deutsche Börse's cash markets (Xetra: €67.1 billion, Xetra Frankfurt specialist trading: €2.0 billion, Tradegate Exchange: €3.6 billion). Turnover in bonds was €898.2 million, and in structured products on Scoach €1.2 billion. Order book turnover in ETFs/ETCs/ETNs amounted to €10.3 billion.
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Source: Deutsche Börse
Early spotlight on Portugal, France in new credit ratings calendar
January 2, 2014--Europe's new calendar for sovereign credit ratings, an EU measure to shine a light on the actions of ratings agencies, will in its busy first few weeks thrust the market spotlight on bailed-out Portugal and recently downgraded France.
European Union rules came into force this month requiring Standard and Poor's, Moody's, Fitch and other credit ratings agencies that operate in Europe for the first time to lay out the dates on which they review a country's rating.
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Source: Reuters
Latvia becomes the 18th Member State to adopt the euro
December 31, 2013--After Latvia adopts the euro at midnight tonight-on the 15th anniversary of the launch of the euro in 1999-18 Member States and 333 million Europeans will share the same currency.
This is a major achievement for Latvia and for the euro area as a whole. Tomorrow, Latvians will start withdrawing euro cash and paying for their purchases in euro. This has been made possible thanks to thorough preparations ahead of the introduction of the single currency.
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Source: Europa
S&P Dow Jones Indices' Market Attributes-Index Dashboard-Europe
December 31, 2013--This month's highlights include:
The Europe 350 ended the month slightly up, recording a full year gain of 21%. In such conditions it is surprising to see the defensively-minded Europe 350 Low Volatility Index outperform the parent index; in the final analysis, high-dividend and low-vol strategies have performed admirably well this year.
It has been a good year, and a good month, for information technology, consumer discretionary and telecommunication services. Gold's annus horribilis ended with a 4% loss for December, while a positive monthly performance for broad commodities did little to change the story of the year. Materials, the year’s laggard sector, ended 2013 with a small gain
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Source: S&P Dow Jones Indices LLC
Eurozone set for volatile 2014 as it tackles banks
December 29, 2013--The eurozone is finally set to return to growth in 2014 but the single currency bloc may not have put its crisis behind it as efforts to shore up its banks could boomerang.
After beating back market panic that the eurozone was set to break up, eurozone nations moved in 2012 and 2013 to put their finances on a stable footing and strengthen the banking sector.
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Source: EUbusiness
Markets, lira in freefall as probe draws closer to PM
December 27, 2013--Turkish markets saw the bottom-line at their weakest in 17 months and the currency fell to fresh lows against the US dollar and the euro as an ongoing corruption probe moves closer to Prime Minister Recep Tayyip Erdogan.
The growing political tension saw Turkish stocks slump the most in emerging markets on Friday; the Bourse İstanbul (BIST) fell 4.18 percent to 61,865, its lowest since July 2012. The lira weakened to 2.17 against the dollar and 3.001 against the euro on Friday. The currency recovered a little later in the day.
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Source: Todays Zaman
Optiver appoints new CEO
December 27, 2013--Dutch high-frequency trading specialist promotes Australian chief to global role.
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Source: Financial News
MICEX Stock Exchange Listing Rules to come into effect
December 27, 2013-_The Listing Rules of MICEX Stock Exchange (part of the Moscow Exchange Group) are to come into effect on 6 January.
The rules were approved by the Board of Directors of the Exchange on 27 September and by the Bank of Russia Financial Market Service on 20 December this year as a part of the process of receiving a new license by the exchange.
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Source: Moscow Stock Exchange
Britain to become Europe's biggest economy by 2030: report
December 27, 2013--Britain will surpass France and Germany to become Europe's biggest economy by 2030, according to a study released on Thursday.
British research group the Centre for Economics and Business Research (CEBR) predicts that Britain's output will outstrip France's by 2018 before displacing Germany by around 2030.
But it will be overtaken by India and Brazil over the same time period, said the study.
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Source: EUbusiness
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