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Rainer Riess to leave Deutsche Boerse Group
November 27, 2012--Rainer Riess (46), Managing Director of Deutsche Börse AG and Deputy Chairman of the Board of Management of the Frankfurt Stock Exchange, will leave Deutsche Börse Group, effective 30 June 2013, having worked for the Group for 24 years.
He will hand over his responsibilities for the Group's cash market effective 31 December 2012. As announced previously, the Xetra division and derivatives business will be jointly managed by Deputy CEO Andreas Preuss (56) from 2013 onwards. Also as announced, Frank Gerstenschläger (52), the Executive Board member responsible for Deutsche Börse’s cash market, has opted not to extend his contract when it expires on 31 March 2013.
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Source: Deutsche Börse Group
EU reaches compromise on ratings agency rules
November 27, 2012--The European Commission, European Parliament and European Council have reached compromise on new rules meant to govern credit ratings agencies, EU Internal Market Commissioner Michel Barnier said on Tuesday.
I welcome the important agreement reached today on additional rules for credit rating agencies which aim to reduce the over-reliance on ratings, eradicate conflicts of interest, and establish a civil liability regime," Barnier said in statement.
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Source: EUbusiness
'Exceptionally strong demand' for EU bailout fund bonds
November 27, 2012--The EU's bailout fund on Tuesday hailed what it termed "exceptionally strong demand" as it raised seven billion euros ($9 billion) in one-year debt.
The first ever one-year offering from the European Financial Stability Facility (EFSF) "was met with exceptionally strong demand with close to nine billion euros in orders received from investors around the world," it said.
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Source: EUbusiness
EU ministers agree significant debt relief deal for Greece
October 27, 2012--Greece won breathing space Tuesday with long-frozen eurozone loans to restart from December and a first clear admission that a chunk of the country's debt burden will need to be written off down the line.
After 13 hours of talks in Brussels, the eurozone and the International Monetary Fund agreed to unlock 43.7 billion euros ($56 billion) in loans and on the need to grant significant debt relief for decades to come.
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Source: EUbusiness
New version of Xetra enables intelligent order-on-event
Release 13.0 starts new order types/ Improved risk management of OTC transactions/ More efficient access to the Xetra trading system
November 26, 2012--Deutsche Börse rolled out Xetra Release 13.0 on Monday. This new version of the trading system allows investors to use the intelligent order type order-on-event for the first time.
This allows a market or limit order to be linked to selected market events. The order is automatically triggered if the events occur. Initially, it will be possible to use the most important benchmark indices and the DAX and Bund future as reference values.
“The new order-on-event order type on Xetra is unique in Europe. This innovation sets international standards and in so doing emphasises the leading role and competitiveness of our trading system,” said Rainer Riess, Managing Director of Xetra Market Development. “The new TOP+ order, which usefully supplements the TOP order from Release 12.0, also sets new standards.”
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Source: Deutsche Börse
Mifid talks postponed until 2013
November 26, 2012--Discussions on Europe's markets in financial instruments directive (Mifid) are set to be pushed into 2013 after the planned December meetings were postponed, the FT reports.
The paper says Cyprus, currently holding the rotating EU presidency, decided to take the discussions off the ministerial agenda next month after talks to finalise the EU budget collapsed.
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Source: Parliament News
NYSE Euronext announces new ETF on European markets-iBoxx Gov AAA-AA 1-5 Index
November 26, 2012--NYSE Euronext is pleased to announce that ThinkCapital ETFs N.V. has listed one new ETF on NYSE Euronext Amsterdam market on November 26, 2012:
Listing Date: 26/11/2012
Trading Name:TC iAAT
ISIN:NL0010273801
Symbol: TAT
Benchmark index: iBoxx Gov AAA-AA 1-5 Index
TER:0.15
NYSE Euronext has now 588 ETFs listed on the Euronext markets.
Source: NYSE Euronext
NYSE Euronext announces new ETF on European markets
November 26, 2012--NYSE Euronext is pleased to announce that ThinkCapital ETFs N.V. has listed one new ETF on NYSE Euronext Amsterdam market on November 26, 2012
Listing Date:26/11/2012
Trading Name:TC iAAT
ISIN: NL0010273801
Symbol: TAT
Benchmark index:MSCI Frontier Markets IndexiBoxx Gov AAA-AA 1-5 Index
TER:0.15
NYSE Euronext has now 588 ETFs listed on the Euronext markets.
Source: NYSE Euronext
EU banks want delay for new rules: letter
November 26, 2012--European banks have asked EU Internal Market Commissioner Michel Barnier and other European Union leaders to postpone Basel III regulations aimed at strengthening the financial sector in view of a similar US decision which the banks say would put them at a disadvantage.
"I ask the participants to take into account the problem of an unlevel playing field created by this US decision," said Christian Clausen, head of the European Banking Federation (EBF), in a letter to Barnier
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Source: EUbusiness
Swiss Regulator Puts UBS on Tight Leash
November 26, 2012--Less than a week after a former employee was convicted in a $2.3 billion trading fraud, UBS AG UBS was slapped with a nearly $50 million fine by British authorities, and Swiss regulators announced restrictive measures, including a ban on investment-banking acquisitions by the firm.
Britain's Financial Services Authority said Monday that it fined the Zurich-based bank £29.7 million ($47.6 million) over the 2011 rogue-trading incident. The fine, which ranks among the largest ever imposed by the U.K. regulator, had been expected.
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