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Independent Commission on Banking released its Final Report
September 12, 2011--Introduction
On 16 June 2010, the Chancellor of the Exchequer announced the creation of the Independent Commission on Banking, chaired by Sir John Vickers. The Commission has been asked to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition, and to make recommendations to the Government by the end of September 2011.
view the Independent Commission on Banking-Final Report
Source: ICB
SNB acts decisively to halt rise of franc
September 9, 2011--The Swiss currency tumbled after the central bank announced it would stop the franc from strengthening above SFr1.20 against the euro
The SNB moved on Tuesday to prevent the strength of the franc from pushing Switzerland into recession by announcing that it would stop the franc from strengthening above SFr1.20 against the euro.
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Source: FT.com
Britain 'sceptical' on transaction tax: official
September 9, 2011--Britain is still "sceptical" about a Franco-German proposal for imposing a European Union-wide financial transaction tax, a British finance ministry official said at a G7 meeting in Marseille
"The UK is sceptical about au EU-wide tax," he said during the Group of Seven industrialised nations meeting in the southern French port.
Detractors say such a tax would inevitably weaken the EU by diverting financial activity elsewhere, quite apart from the difficulty of applying it in the first place.
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Source: EUbusiness
Key statistics for August 2011-SIX Swiss Exchange and Scoach Switzerland
New record figures resulting from strong increase in trades and turnover at SIX Swiss Exchange and Scoach Switzerland.
September 8, 2011--In August, SIX Swiss Exchange saw a jump in trading activities. On 9 August 2011, a new daily record was set with roughly 390'000 trades. The number of trades was up in August by 64 % compared with the previous month.
This was driven, in particular, by the equities (incl. funds, ETSFs and ETPs), ETF as well as structured products and warrants segments. With the number of trades reaching 125'862, the ETF segment advanced for the first time into six-digit territory.
Substantial increase in turnover The ETF segment also set a new record in terms of turnover. With a gain of over 88 % as compared to July 2011, turnover climbed to CHF 13'732 million. Turnover in the structured products and warrants segment almost doubled, growing by 93.5 % to CHF 5'813 million. Across all trading segments, there was month-on-month growth of 51.3 % in turnover in August.
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Source: SIX Swiss Exchange
Deutsche Börse adds global treasury auction data to machine-readable news feed
“AlphaFlash Global Treasury Feed” makes data available from 12 countries
September 8, 2011--Deutsche Börse has added global treasury auction data to its algorithmic news feed “AlphaFlash”. The global treasury data package provides key treasury auction data from 12 countries directly from the source in a low latency, machine readable format.
The new service is designed for algorithmic traders, asset managers, hedge funds, analysts and professional investors whose trading decisions are based on government bond market activity.
“Especially in today’s financial environment, speedy access to government bond data is essential. Sovereign debt markets have become more and more volatile over recent years, impacting all other asset classes and the world economy. The global treasury feed enables market participants to instantly access treasury auction announcements and execute their automated trades”, said Georg Gross, Head of Front Office Data & Analytics at Deutsche Börse.
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Source: Deutsche Börse
EU plans tax on stocks and bonds trading
September 8, 2011--The European Commission is set to propose a tax on trading shares and bonds according to a senior EU official on Thursday, who said it will proceed with its plans in the eurozone if Britain objects.
The proposal for a 0.1 percent tax, which has drawn criticism from the European Central Bank and others who say it may drive trading out of countries where it applies, could prove impractical to introduce though.
But if EU officials strike a formula to impose the charge without scaring off traders, it could be central to the bloc's bid to tax banking following the global financial crisis.
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Source: Reuters
EU market plans may boost Boerse/NYSE merger deal
September 8, 2011--Draft European Union plans for a sweeping overhaul of its market rules could make it easier for Brussels to nod through a megabourse merger while also threatening the deal's viability, trading and exchange industry officials said on Thursday.
The EU is due in October to publish plans to overhaul the bloc's markets in financial instruments directive (MiFID).
Leaks on the proposals in recent days reveal a broad core aim to open up vertically integrated exchanges like Deutsche Boerse (DB1Gn.DE) to competition in clearing, indexes and data selling.
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Source: Reuters
Amundi launches 7 new emerging market ETFs on London Stock Exchange
London Stock Exchange welcomes seven new ETFs from Amundi tracking emerging markets
London Stock Exchange’s position as the leader in emerging market ETFs reinforced
September 8, 2011--The London Stock Exchange this week announced the trading of seven new Amundi emerging market exchange-traded funds.
The new products will provide investors with specific exposure to India, China, Eastern Europe (ex Russia), Brazil, Asia and Latin America, as well as to a broad index ETF tracking the performance of all emerging markets. Also trading from today is an ETF providing exposure to the European Real Estate sector.
The London Stock Exchange now offers 158 emerging market ETFs, compared with 126 on the New York Stock Exchange (NYSE Arca) and 93 on Deutsche Boerse.[1]
Pietro Poletto, Head of ETFs and ETPs at London Stock Exchange Group, said:
“The London Stock Exchange has long been a truly international market place, where investors can find a wide range of products offering opportunities across many sectors and geographies. These new ETF listings will further extend our offering, the largest in the world”.
Valérie Baudson, Managing Director of Amundi ETF comments:
“This latest series enhances our range of equity exposure on the LSE. We offer investors cost effective emerging market exposures, with low tracking error, reflecting the quality of our products. These launches are in line with our development objectives for the UK.”
Amundi has issued 41 ETFs on the London Stock Exchange since May 2011. Amundi is the fifth largest ETF provider on the London Stock Exchange, with £116m traded in their ETFs in July 2011.
Source: London Stock Exchange
China setting up new market obstacles: EU group
September 8, 2011--China is setting up new obstacles for foreign companies wanting to invest in the world's second largest economy, a grouping of European businesses said Thursday.
The claim by the European Union Chamber of Commerce in China's annual report follow repeated calls from Beijing's main Western trading partners to ensure a level playing field for foreign firms.
"Recent measures to further constrict market openness raise questions about stated intentions to create lasting opportunities for all market actors to compete on an equal footing," the EU Chamber of Commerce in China said.
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Source: EUbusiness
Strains rise in short-term eurozone lending
September 8, 2011--Strains in the eurozone short-term lending markets have jumped sharply this week amid worries that the sovereign debt crisis will deepen, threatening the ability of banks to fund themselves.
The main gauge of tension in the funding markets has risen to levels last seen in April 2009 – and has leapt threefold since July – as banks hoard cash and refuse to lend to each other amid worries loans will not be repaid in a deteriorating financial climate.
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Source: FT.com
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