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TD Unveils Enhanced Retail Derivatives Service
TD Waterhouse, the UK’s leading execution only broker, has enhanced its Contracts for Difference (CFD) and Financial Spread Betting (FSB) services to cater to the different and specific needs of these sophisticated traders.
May 17, 2011--
TD customers can now take control of their trading through two distinct accounts – TD Derivatives Trading for CFD trades, which will also include Forex and Futures, and TD Financial Spread Trading specifically for FSB trades.
TD Derivatives Trading (provided by Saxo Bank):
The TD Derivatives Trading account, provided by Saxo Bank, the online trading and investment specialist, combines all the elements required by an experienced derivatives trader. Not only can customers trade CFDs – with commissions for CFD equity trades starting from 0.15% (minimum £15) on all markets2 – they can also take advantage of one of the leading Forex Trading offerings available, with access to more than 160 Forex currency pairs. The account also includes Futures, enabling customers to trade over 450 instruments on live market prices from over 15 exchanges around the world.
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Source: PR Web
Eurex KOSPI Product Surpasses Milestone Of 1 Million Traded Contracts
May 17, 2011--The international derivatives exchange Eurex today announced that its Eurex KOSPI Product has exceeded the 1 million traded contracts threshold last Thursday, 12 May, for the first time since its launch on 30 August 2010. Monthly trading volume has been increasing steadily, reaching more than 147,000 contracts in the current month (as of 13 May).
Average daily volume is on record levels and totals more than 21,000 contracts in the current month. The current daily record of more than 29,000 order book traded contracts was achieved on 11 May 2011.
Eurex and KRX expect that volumes continue to grow in conjunction with the rising number of active end-customers as well as Eurex and KRX members using the Eurex KOSPI Product. Currently, five out of the ten most active Korean member firms trade the Eurex KOSPI Product. Altogether, 13 KRX and Eurex participants are active, among them two market makers. Further, there are 5 additional KRX and 7 Eurex members who are preparing to participate in the Eurex/KRX Link in due course.
The Eurex KOSPI Product is a daily futures contract based on the KOSPI 200 options available on the Korea Exchange (KRX). The futures contracts expire at the end of each trading day and any open positions are transferred to KRX to establish a position in the KOPSI 200 option. This product cooperation between Eurex and KRX enables market participants to trade KOSPI 200 options during European and North American trading hours.
Source: Eurex
Finance ministers strike deal on short selling
May 17, 2011--Ban on ‘naked' short selling can be suspended if liquidity of debt falls below threshold.
EU member states' finance ministers have reached a deal intended to limit and improve the transparency of two trading practices that have been most criticised in the wake of the financial crisis of 2007-08.
Ministers agreed a common approach to rules covering short selling – a practice in which traders sell a security at a high price in the expectation that they will be able to buy it again at a lower price – and on the trade in credit default swaps, a form of insurance that guarantees the creditworthiness of a loan.
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Source: European Voice
ESMA submits its Technical Advice to the Commission on Fees for CRAs
May 17, 2011-- The European Commission (the Commission) sent a formal request to ESMA to provide technical advice to assist the Commission in formulating a Regulation on fees for Credit Rating Agencies (CRAs) by delegated act (please, find in Annex II a copy of the Commission’s formal request).
The advice was due to be delivered to the Commission by 13 May 2011. On 14 April 2011, ESMA released a consultation to receive industry input in order to assist it in providing advice to the European Commission. In order to deliver its advice to the Commission, ESMA considered possible fee structures for CRAs registered or certified in the EU and for CRAs seeking registration or certification. In order to finalise the advice by the due deadline, ESMA decided it was appropriate to conduct a shortened consultation on these possible structures in order to enable it to deliver robust advice to the Commission.
view- Final report-ESMA´s Technical Advice to the Commission on Fees for CRAs
Source: ESMA
Drawing power of the dollar
May 17, 2011--Surprisingly weak US production data added to currency volatility on Tuesday, driving investors to dollar havens and wiping out earlier gains for sterling and the euro.
Sterling had been supported by renewed speculation that the Bank of England would deliver at least one interest rate increase this year as UK inflation continued to surge
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Source: FT.com
Euro area annual inflation up to 2.8%; EU up to 3.2%
May 16, 2011--Euro area1 annual inflation was 2.8% in April 20112, up from 2.7% in March. A year earlier the rate was 1.6%. Monthly inflation was 0.6% in April 2011.
EU3 annual inflation was 3.2% in April 2011, up from 3.1% in March. A year earlier the rate was 2.1%. Monthly inflation was 0.5% in April 2011.
These figures come from Eurostat, the statistical office of the European Union.
Inflation in the EU Member States In April 2011, the lowest annual rates were observed in Ireland (1.5%), the Czech Republic (1.6%) and Sweden (1.8%), and the highest in Romania (8.4%), Estonia (5.4%), Lithuania and Hungary (both 4.4%). Compared with March 2011, annual inflation rose in sixteen Member States, remained stable in two and fell in eight.
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Source: Eurostat
LGIM launches carbon efficient index tracker
May 16, 2011--Legal & General Investment Management (LGIM) has launched a carbon efficient index tracking fund.
Developed by LGIM, it will use a custom index devised by FTSE Group and based on Trucost data.
Targeting pensions investors with an interest in carbon or energy risk, the fund will invest in companies that use approximately 20% less carbon resources than the FTSE average. The British Telecom Pension Scheme (BTPS) contributed development ideas and has indicated that it will invest £100 million in the fund.
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Source: Wealth Manager
ETF Stat Report April 2011 Borsa Italiana
May 16, 2011--The ETF Stat Report April 2011 of the Borsa Italiana is now available.
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Source: Borsa Italiana
New ETFs on NYSE Euronext-HSBC SPBRIC40 ETF
May 16, 2011--NYSE Euronext is pleased to announce that HSBC has listed 1 new ETF on NYSE Euronext’s Paris market today:
ETF name: HSBC SP BRIC 40 ETF
ETF Trading name: HSBC SPBRIC40 ETF
ETF ISIN:IE00B5YLK706
ETF Symbol: BRQ
ETF Reuters RIC: BRQ.PA
ETF Bloomberg Ticker: BRQ FP
Underlying index: SP BRIC 40
TER: 0,60%
PEA: N
Long-Only: SRD
Trading currency: EUR
NYSE Euronext now has 648 listings of 556 ETFs based on more than 360 indices
Source: NYSE Euronext
FSA wants Tougher Insider Trade Penalties
May 16, 2011--A top London regulator has called for tougher sentences for insider dealingto make it easier for the UK to emulate US successes such as last week’s high-profile conviction of Raj Rajaratnam, the founder of the Galleon hedge fund.
Margaret Cole, who has spent the past five years revamping the Financial Services Authority’s enforcement division, has asked the coalition government to increase the maximum sentence for insider dealing from seven to 10 years.
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Source: FT.com
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