Europe ETP News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
London Stock Exchange's Cash Markets Go Live On New Trading System - Offers Clients Ultra Low Latency And Superior Functionality
February 14, 2011--The London Stock Exchange's UK cash markets have today migrated to a new ultra low-latency trading platform - Millennium Exchange.
Developed by London Stock Exchange Group's leading trading technology business MillenniumIT, Millennium Exchange is a highly scalable, multi-asset class trading platform, offering the Exchange's clients superior technical performance, ultra low-latency and enhanced functionality.
Antoine Shagoury, Chief Information Officer, London Stock Exchange Group, said:
"Today's roll-out of Millennium Exchange for our UK cash markets demonstrates our continued commitment to technological innovation in the marketplace. We are confident that this new platform will provide our customers with exceptional levels of performance, functionality, and capacity.
"This migration is a crucial step forward in our drive to offer best in class trading services and marks a key milestone in the introduction of tightly integrated transaction technology across our markets."
The timeline for further phases of the London Stock Exchange Group's migration to Millennium Exchange, covering the other markets operated by the Group, will be released in due course.
Source: London Stock Exchange Group
Eurex introduces new European-style options on German stocks
Launch on 21 February/ Maturities extended on existing German and Russian options
ebruary 14, 2011--The international derivatives exchange Eurex today announced that it will launch 11 new equity options on leading German companies on 21 February 2011. The options will be on Allianz, BASF, Bayer, Commerzbank, Daimler, Deutsche Bank, Deutsche Telekom, EON, RWE, SAP and Siemens.
The 11 new contracts will have European exercise styles, whereas the rest of Eurex’s equity options follow American exercise styles. European-style options may be exercised only on the expiry date while American-style options may be exercised at any time before the expiry date. All other contract specifications are consistent with Eurex’s existing equity options products, including eligibility for Eurex’s Block Trade Facility.
Separately, the expiration dates of German equity options will be consistently set to 60 months. Effective 14 February, this change allows the introduction of two semi-annual and two annual expiration dates for certain contracts.
Similarly, the expiration dates for Russian equity options will be extended to 24 months, with two semi-annual expirations dates for all contracts. Currently, Eurex offers options on 72 German shares and four Russian companies.
Source: Eurex
Sterling gains ground ahead of inflation report
February 11, 2011--The euro dropped to a three-week low against the dollar on Monday as fears over the ability of eurozone policymakers to solve the region’s debt crisis heightened.
The single currency came under pressure as the yields on Portuguese government debt remained elevated, hitting fresh euro-era highs and raising fears that Lisbon was set to follow Greece and Ireland by seeking a rescue package from its eurozone partners.
read more
Source: FT.com
Future eurozone rescue fund to hold EUR 500bn
February 14 2011-- Eurozone leaders decided Monday to almost double the effective lending capacity of future bailout funding, as they cast a worrying glance at renewed pressure from the bond market.
A permanent eurozone rescue fund being set up from January 1, 2013, will have an initial capacity of 500 billion euros, said the head of the Eurogroup of finance ministers, Luxembourg Prime Minister Jean-Claude Juncker.
read more
Source: EUbusiness
NASDAQ OMX Appoints New President For NASDAQ OMX Iceland
February 11, 2011-- The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) today announced that Mr. Pall Hardarson has been appointed President of NASDAQ OMX Iceland.
"Pall has served as NASDAQ OMX Iceland's head of operations and vice president for nine years, working closely with and reporting to the former President, Mr. Thordur Fridjonsson, who regretfully has passed away.
We are thankful for Thordur's contributions and great leadership through the years. With Pall's extensive knowledge of NASDAQ OMX Iceland's operations, and a strong background in management and economics, he has our full confidence in taking on this new and challenging role", said Hans-Ole Jochumsen, President NASDAQ OMX Nordics.
Pall was born in 1966. Before joining NASDAQ OMX Iceland (then Iceland Stock Exchange) in 2002, Pall served as an economist at the National Economic Institute for three years. He holds a Ph.D. degree in Economics from Yale University.
Source: NASDAQ OMX
Eurex introduces dividend futures on UK underlyings
Trading volume of all dividend derivatives grows 36 percent year-on-year
February 11, 2011--International derivatives exchange Eurex will be launching new dividend futures on 24 February based on the dividends of thirteen UK equities: Anglo American, AstraZeneca, Barclays, BHP Billiton, BP, BT Group, Diageo, GlaxoSmithkline, HSBC Holdings, Rio Tinto, Royal Dutch Shell, Tesco and Vodafone.
These new dividend futures expand the existing Eurex range of exchange-listed dividend derivatives, currently comprising five index dividend futures, 66 futures on single stock dividends and one option on the EURO STOXX 50 dividend future. The entire dividend derivative segment has grown year-on-year by 36 percent in terms of average trading volume.
"There is great demand for dividend contracts among our participants, so we worked together to expand the product range,” explained Eurex Executive Board member Peter Reitz. "Now for the first time, the dividends from single stocks in GBP and USD can be hedged with an exchange product.”
The specifications of the new contracts largely correspond to existing dividend products. A designated market-making program will be offered for the new dividend futures from the start in order to make prices in the order book continuously available and to support trading activity. Eurex will be offering annual contracts denominated in Pounds Sterling, US dollars and euros with maturities between December 2011 and December 2015.
The trading volume of Eurex dividend derivatives traded on-exchange and cleared via the central counterparty has grown continuously since introduction in 2008. The average volume traded daily at the end of January was around 24,000 contracts, of which around 21,500 were futures and 2,400 dividend options. The dividend option exceeded 50,000 contracts in one month for the first time in January 2011 – a new record. The single stock dividend futures recorded their second-best month with over 120,000 contracts, of which around 19,000 were recently introduced Swiss products, which thus recorded their best trading month.
Source: Eurex
Value-Added Sales, Warehouses Beat Physical ETFs-Rio Tinto
February 10, 2011--Physical exchange-traded funds could provide a home for metal produced by Rio Tinto PLC (RIO) although the company benefits more from selling value-added products directly to customers, and then moving metal to warehouses when demand is slack, the chief executive of the dual-listed miner said Thursday.
Noting that he has been "astounded" by the success of the ETFs, Tom Albanese told a conference call to analysts that the company's aluminum business in particular had benefited from changes in the quality of product sold.
read more
Source: FOX Business
Thomson Reuters Monthly Market Share Reports For January 2011
February 10, 2011--Monthly Market Share Reports
Trading is fragmenting between exchanges and competing venues. But by how much and which venues? Find out in our summarised monthly reports.
view reports
Source: Thomson Reuters
FSA and Bank of England announce new draft code of practice for auditors and supervisors
February 10, 2011--Following joint work with the Bank of England, the Financial Services Authority (FSA) has today published, for consultation, a draft code of practice designed to enhance the dialogue between auditors and supervisors.
The aim of the code is to improve audit effectiveness and ensure that supervisors are better informed about, and able to challenge, the firms they regulate. Auditors have an important role to play in the supervisory process as the annual financial statements that they audit form the basis of the prudential information that the FSA uses when supervising firms.
The code of practice proposes a framework for auditors and supervisors to work together in an open and collaborative way. This increased coordination will enhance the ability of the FSA to scrutinise specific accounting practices and related judgements in order to understand fully their implications and to highlight emerging problems. Equally, auditors are expected to gain valuable insights from their dialogue with the FSA when gathering evidence to support their audit opinions.
view the Code of Practice for the relationship between the external auditor and the supervisor (‘the Code’)
Source: FSA.gov.uk
German investors 'misunderstand' fiduciary management
February 10, 2011-- The concept of fiduciary management has been largely misunderstood in Germany and is not about "yielding decision-making powers", asset managers have said.
Last week, a number of consultants told IPE that fiduciary management was struggling to take off in Germany because institutional investors wanted to "remain in the driver's seat".
read more
Source: IP&E
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
