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Eurex Launches New Derivatives Based on MSCI Emerging Markets Indices
July 4, 2013--MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, has announced that Eurex Exchange, one of the world's largest derivatives exchanges, has licensed a range of MSCI Emerging Markets regional and country indices as the basis for a number of derivative products which were launched 1 July.
These latest Eurex futures and options are based on the MSCI Emerging Markets Index and the regional sub-indices, the MSCI EM Latin America Index, the MSCI EM EMEA Index and the MSCI EM Asia Index. Futures contracts have also been launched based on 16 MSCI Emerging Markets country indices, bringing the number of MSCI index-linked derivatives from Eurex to around 30 globally.
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Source: MSCI
ESMA publishes research on the sale of complex products to retail financial consumers
July 3, 2013--The European Securities and Markets Authority (ESMA) has published a research report on Retailisation in the EU, which examines the growth in the sale of complex financial products to retail financial consumers in the European Union (EU).
view the ESMA Economic Report-Retailisation in the EU
Source: ESMA
Financial Transaction Tax: wide scope and attention to pension funds and SMEs
July 3, 2013-- Parliament kept up the pressure on Wednesday for a comprehensive financial transaction tax in 11 EU countries with a wide scope and rates of 0.1% for trades in stocks and bonds and 0.01% for those in derivatives.
Lower rates should apply until 1 January 2017 for trades in sovereign bonds and pension fund industry trades. Finally, a new legal ownership principle was inserted to make tax avoidance more costly.
Anni Podimata (S&D, EL), Parliament's lead MEP on the matter welcomed Parliament' s tenacity. "Parliament has stayed true. We have taken a consistent line. We strongly believe that such a tax is the way the sector can contribute to emerging from the crisis and returns to its proper job of serving the real economy", she said. The resolution was passed by 522 votes to 141, with 42 abstentions.
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Source: European Parliament
BATS Chi-X Europe Continues Growth In Spain With Monthly Market Share Record; Also Sets New Record In Finland
July 3, 2013--BATS Global Markets (BATS) today reported that BATS Chi-X Europe set another new monthly market share record of 14.4% and also a new one- day record of 19.5% for Spain's IBEX 35, and a new monthly record of 28. 6% in Helsinki's OMXH25 Index.
BATS Chi-X Europe reported 26.7% market share across the Nordics, its second-best month on record in this
region. In Copenhagen’s OMXC20 and Stockholm’s OMXS30, BATS Chi-X Europe reported market share of
25.4% and 30.1%, respectively, the second-best month on record in both of these key markets.
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Source: BATS Global Markets, Inc
Tension rises on growing shift of power to Esma
July 3, 2013--A tug of war over the scope of powers given to European watchdogs formed after the crisis is emerging, with the UK doing its best to resist a growing desire from the European Commission to give the new watchdogs more teeth.
The UK has tried to curtail the influence of the European Securities and Markets Authority under recently implemented short-selling legislation and key trading rules that are still under negotiation by European policymakers.
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Source: Financial News
Nasdaq OMX and Borsa Istanbul Sign Strategic Partnership
NASDAQ OMX to provide a suite of comprehensive market-leading exchange technologies to Borsa İstanbul
Partnership will strengthen İstanbul's position as an international financial center, and will expand both companies' global footprint
Juy 3, 2013--The NASDAQ OMX Group (Nasdaq: NDAQ) and Borsa İstanbul have signed a partnership agreement today, which aims to expand Borsa İstanbul's global presence, while substantially strengthening İstanbul's position as a regional hub for capital markets.
Borsa İstanbul will integrate and operate NASDAQ OMX’s suite of world-class market technologies for trading, clearing, market surveillance and risk management, covering all asset classes including energy contracts. Further, the two companies will actively collaborate in the region. This strategic partnership points to a long-term commitment which would benefit member firms and customers of both exchanges.
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Source: Borsa İstanbul
UK Official holdings of international reserves-June 2013
July 3, 2013--This monthly press notice shows details of movements in June in the UK's official holdings of international reserves, which consist of gold, foreign currency assets and International Monetary Fund assets.
These reserves are maintained primarily so that the UK Government’s reserves could be used to intervene to support Sterling, or the Bank of England’s reserves could be used to support the Bank’s monetary policy objectives. If such interventions were to occur, then they would be shown and explained in this release. The Background note at the end of this release explains more about the reserves, and about these statistics.
In summary this month’s release shows that, in June 2013:
No intervention operations were undertaken.
Movements in reserves and levels of reserves were as follows:
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Source: HM Treasury
Eurozone recession eases as confidence returns: survey
July 3, 2013--The eurozone recession eased at the end of the second quarter, opening hope of a return to growth in the second half of the year, final data from a key survey signalled on Wednesday.
The Markit Eurozone Composite Purchasing Managers Index registered 48.7 points in June compared with 47.7 in May.
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Source: EUbusiness
Economic Growth is Staging a Moderate Recovery in 2013, Says World Bank in Latest Forecast
July 3, 2013-Economic growth in 2013 is forecast to remain below trend at an estimated 3.6 percent according to the World Bank's latest Turkey Regular Economic Brief issued today in Ankara.
The Brief links moderate growth prospects to persistent global uncertain and the recent tightening of international liquidity, whilst pointing to signs of a revival in domestic demand. The Government’s new Development Plan provides an opportunity to deepen structural reforms and thus mitigate external risks and increase potential growth growing forward.
view the Turkey Regular Economic Brief
Source: World Bank
June turnover at Boerse Stuttgart in region of EUR 6.9 billion (monthly stats)
Sharp increase in exchange-traded products // Discount certificates in demand
July 2, 2013--According to the order book statistics, the total volume of trades at Boerse Stuttgart in June 2013 was down on the total for May at around EUR 6.9 billion.
The biggest contribution to turnover came from securitised derivatives with a trading volume for June in the region of EUR 3.3 billion, slightly down on the figure for the preceding month. Overall, Boerse Stuttgart recorded a trading volume of around EUR 1.9 billion in investment products, with leverage products in excess of EUR 1.4 billion and discount certificates up roughly 12 percent on the total for May at EUR 633 million.
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Source: Boerse Stuttgart
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