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SIX Securities Services signs a Memorandum of Understanding with Turkey's post-trade infrastructure-Takasbank and MKK
May 8, 2012--In a landmark agreement, Switzerland's post-trade services provider, SIX Securities Services signed a Memorandum of Understanding (MoU) with both Takasbank and MKK to provide international clearing, settlement and custody services.
This move is a precursor to the opening up of
Turkey’s financial markets to international investment and aligns with SIX
Securities Services’ internationalization strategy.
The clearing and settlement arms of SIX Securities Services, SIX x-clear Ltd and SIX SIS Ltd, both signed a MoU with Takasbank and MKK, Turkey’s domestic providers for post trade services, to establish international post trade services for Turkey. Through the agreement, SIX Securities Services will play the roles of international Central Counterparty (CCP) for the Turkish market and global custodian for Takasbank. In return, Takasbank will become a full-service provider for the Turkish market via a direct CSD link with SIX SIS Ltd.
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Source: SIX Securities Services
NASDAQ OMX starts trading in new ETFs from Swedbank Robur
May 7, 2012--NASDAQ OMX (NASDAQ:NDAQ) today starts trading in a new
series of ETFs (Exchange Traded Funds) from Swedbank Robur.
The ETF portfolio from Swedbank Robur is named Swedbank Robur ETF and today three new ETFs were listed on NASDAQ OMX Stockholm.
All the listed ETFs from Swedbank Robur track the OMXS30 (OMX Stockholm 30) index, one of the most traded indexes in Europe. OMXS30 is calculated by NASDAQ OMX and comprises the 30 most actively traded companies on NASDAQ OMX Stockholm. The products listed today are: Swedbank Robur ETF OMXS30 Bull 2 (SweR Bull2), Swedbank Robur ETF OMXS30 Bear (SweR Bear) and Swedbank Robur ETF OMXS30 (SweR OMXS30).
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Source: NASDAQ OMX
New OMX Stockholm Benchmark Portfolio Selected
The new portfolio of the OMX Stockholm Benchmark index will become effective on June 1, 2012
May 7, 2012-The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces
today the results of the semi-annual review of the OMX Stockholm Benchmark
index, (NASDAQ OMX Stockholm: OMXSB), which will become effective with the
market open on Friday, June 1, 2012.
“We have revised the selection criteria for the OMXSB index and now base the
industry diversification criteria on the Industry Classification Benchmark
(ICB). As a result we see that the new portfolio will hold, on average, larger
companies and more liquid stocks, thus maintaining the index’s position as the
most cost efficient benchmark for the Swedish equity market”, said Magdalena
Hartman, Vice President, NASDAQ OMX Global Index Group.
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Source: OMX AB
ESMA publishes its 2012 regulatory work programme
May 7, 2012--ESMA's annual regulatory programme aims to provide information on the planned technical standards, technical advice and guidelines & recommendations to be issued by ESMA in 2012.
This information is provided in accordance with article 3 of the procedure for developing and adopting draft technical standards and guidelines and recommendations.
The regulatory programme takes into account, amongst others, ESMA’s objectives and tasks, the procedure for adopting technical standards, providing technical advice and issuing guidelines as well as the scope and nature of specific powers conferred in European Union legislative acts to ESMA.
The regulatory work programme is based on the ESMA 2012 Work Programme approved by the Board of Supervisors in November 2011 and published on 4 January 2012 on the ESMA website, but provides a more detailed outline of the individual work streams.
view the ESMA 2012 Regulatory Work Programme
Source: ESMA
ESMA launches a call for evidence on transaction reporting
May 7, 2012--This call for evidence seeks to collect interested parties' views on what elements ESMA should consider in its work on guidelines on harmonised transaction reporting, as well as opinions on what areas of the OTC derivatives guidelines need to be updated.
On the basis of responses received to this call for evidence, ESMA will define its further work on guidelines on harmonised transaction reporting and launch a full public consultation.
view the ESMA-Call for evidence
Transaction reporting
Source: ESMA
Switzerland: Selected Issues Paper
May 7, 2012--UNPRECEDENTED CURRENCY APPRECIATION AND POLICY RESPONSE
A. Introduction
1. Last year saw an unprecedented appreciation of the Swiss franc and a series of policy actions by the SNB to stem it.
This annex gives a detailed account of the SNB’s policy response, which has put a halt to the appreciation, and sheds lights on its impact and
implications.
2. The Swiss franc has appreciated significantly since 2008, with a sharp acceleration last summer. The appreciation began as nominal interest rates in other advanced countries declined and the positive differentials with Swiss rates shrank, which reduced the appeal of the Swiss franc as a funding currency for carry trades. As the euro area sovereign crisis developed, safe haven flows added further upward pressure on the currency. The SNB intervened in foreign exchange markets in 2009 and 2010 to slow down the appreciation. By July 2011, the appreciation reached 50 percent vis-à-vis the euro, 47 percent vis-à-vis the dollar, and 33 percent in real effective terms. The Swiss franc became one of the most appreciated currencies among advanced economies.
view IMF paper-Switzerland: Selected Issues Paper
Source: IMF
Source offers optimised exposure to Brent Crude
May 7, 2012--Source is pleased to announce the launch of the Source Brent Crude Enhanced T-ETC (Ticker: BOIL), pursuant to its Treasury bill secured ETC programme.
This exchange traded certificate offers optimised exposure to Brent crude oil via the S&P GSCITM Brent Crude Enhanced Total Return Index. It complements Source’s existing Crude Oil Enhanced T-ETC (Ticker: SEWTI), which provides optimised exposure to West Texas Intermediate (WTI) crude oil.
Historically, WTI light sweet crude was the major global benchmark for the oil market. However, Brent crude is increasingly recognised as a distinct and important benchmark, particularly since 2011, when it consistently traded at a premium to WTI. “Political situations, oil inventories and infrastructure issues on the two sides of the Atlantic can be starkly different,” commented Source CEO Ted Hood. “Investors increasingly want exposure to a specific oil contract - Brent or WTI - rather than generic crude oil exposure.”
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Source: Source
Renegotiating EU fiscal pact 'not possible': Germany
May 7, 2012--The German government on Monday ruled out reworking the European Union's fiscal pact despite calls to do so by French president-elect Francois Hollande.
"It is not possible to renegotiate the fiscal pact," government spokesman Steffen Seibert told a regular news conference.
He noted that 25 of the 27 EU member states had already signed the accord imposing strict budgetary discipline in March after major wrangling.
Hollande has called for a shift in strategy toward more growth-oriented measures including more public spending.
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Source: EUbusiness
New rules will help grow ETF market
May 6, 2012--Expansion of the European exchange traded funds market due to regulatory changes is "inevitable," according to Joe Linhares, head of iShares Emea for BlackRock.
Mr Linhares said a road map for how ETFs would reach retail investors was now becoming clearer as a result of the combination of reforms proposed in the UK and Europe with the retail distribution review (RDR) and Mifid II directive respectively.
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Source: FT,.com
London Stock Exchange-Monthly Market Report - April 2012
APril 4, 2012--London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community, offering international business unrivalled access to Europe's capital markets. In April a total of 31.1 million trades were carried out across the Group's electronic equity order books, an increase of 42 per cent on April 2011.
They had a combined value of £154.3 billion (€187.7 billion), down 4 per cent on April 2011 (£161.1 billion).
During the month, the average daily value traded on the UK order book was £4.5 billion (€5.5 billion), up 3 per cent year on year; the average daily number of trades increased 35 per cent to 788,162.
The LSE’s share of trading in the total UK order book for April was 64.1 per cent.Exchange Traded Products
Total value traded in Exchange Traded Products across the Group’s order books in April was down 19 per cent year on year to £7.5 billion (€9.2 billion). The total number of trades was down 6 per cent at 303,683.
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Source: London Stock Exchange
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