FESE European Equity Market Report-September 2013
October 14, 2013--The FESE European Equity Market Report September 2013 is now available.
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Source: FESE
Bank exposure to EU states' bonds on rise
October 13, 2013--Europe's financial institutions are more exposed to their domestic government bonds than at any time since the eurozone crisis started, reigniting concerns that the fates of sovereign states and their banks are too closely intertwined.
Despite official pledges by eurozone authorities to break the "sovereign-bank nexus", government bonds accounted for more than a 10th of Italian banks' total assets at the end of August, the last month for which data are available.
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Source: FT.com
'Pincer attack' crushes European fund profits
October 13, 2013--Profit margins across Europe's fund management market are caught in a "pincer attack" due to the rising costs of regulation and increasing revenue pressure from the shift into low-cost passive funds.
Complying with new regulations will cost between $300m and $500m annually over the next three years. This translates into a significant increase in cost-to-income ratios, according to BNY Mellon.
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Source: FT.com
BlackRock cuts five from London equity trading team
October 13, 2013--BlackRock has put five members of its London equity trading team under review as part of efforts to integrate its trading desk with its internal risk system, called Aladdin.
The five traders in question have not yet left BlackRock, the world's largest asset manager, but may do so at the end of a consultation period.
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Source: FT.com
Thomson Reuters Global Equities Monthly Market Share Data Updated To Reflect September 2013 Activity
October 11, 2013--One thing to note was the growth in dark pool trading in September, particularly in the form of the reported anonymised Broker Crossing Systems activity which represented 13.5% of all order book activity in comparison with 9.8% in August and 8.1% in September 2012.
The activity was most prominent during the Index rebalancing between the 24th & 26th September.
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Source: Mondovisione
Euro area securities issues statistics
October 11, 2013--The annual rate of change of the outstanding amount of debt securities issued by euro area residents was -0.7% in August 2013, compared with -0.8% in July.
For the outstanding amount of quoted shares issued by euro area
residents, the annual growth rate was 1.1% in August 2013, the same as in July.
New issuance of debt securities by euro area residents totalled EUR 592 billion in August 2013.
Redemptions stood at EUR 613 billion and net redemptions amounted to EUR 19 billion.1 The annual rate of change of outstanding debt securities issued by euro area residents was -0.7% in August 2013, compared with -0.8% in July.
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Source: ECB
Currency risk fears delay CME Europe
October 10, 2013--CME Group's plans to launch a London derivatives exchange is being held up by concerns at the Bank of England that it could pose systemic risk to the currency trading markets, according to two people familiar with the situation.
The world's largest futures exchange has had its year-long application to commence derivatives trading in Europe delayed repeatedly while its UK regulators examine its process for clearing trades.
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Source: FT.com
State Street hints at doubling Europe ETF range
October 10, 2013--State Street Global Advisors has hinted that it may double the number of exchange traded funds it runs in Europe, bucking the industry trend of consolidation.
Scott Ebner, global head of product development at SSgA, says he believes there is room for about "100 ETFs" in the firm's range.
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Source: FT.com
SIX Swiss Exchange -September 2013: trading activity remains stable
October 10, 2013--The statistical monthly report contains the latest trade and turnover figures for SIX Swiss Exchange and Scoach Switzerland Ltd.
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Source: SIX Swiss Exchange
Regulation of short selling as part of self-regulation
Regulation of short selling as part of self-regulation
October 10, 2013--
In Switzerland, there are no provisions to regulate short selling in terms of laws or stock exchange regulations.
In 2008, an announcement was made by the then Swiss Federal Banking Commission (SFBC) and SIX Swiss Exchange imposing certain restrictions on short selling. In consultation with FINMA, SIX Swiss Exchange and Scoach Switzerland will now supplement their regulations regarding short selling.
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Source: SIX Swiss Exchange
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