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Eurex Clearing launches cross-margining functionality
First CCP in Europe to offer margin offsetting within asset classes and across OTC and listed derivatives/ Entire euro-denominated yield curve covered for the first time in a portfolio margining approach
June 10, 2014--Eurex Clearing, the clearing house of Deutsche Börse Group, has introduced its second release of the new risk system Eurex Clearing Prisma.
With the new development, clearing members and clients are able to benefit from portfolio margining capabilities within an asset class as well as cross-margining between listed fixed income products and the OTC IRS business.
Eurex Clearing is Europe's first and only CCP to offer this highly user-requested approach.
Since the end of May, clearing users can realize margin offsets between listed fixed-income (Schatz, Bobl, Bund, Buxl) and money market derivatives (Eonia, Euribor), i.e. the entire euro-denominated interest rate curve. Simultaneously, they can also use their existing portfolios in these interest-rate derivatives traded at Eurex Exchange to offset their margin requirements for their interest rate swaps cleared via EurexOTC Clear.
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Source: Eurex Clearing
Two new iShares ETFs launched on Xetra
ETFs based on US companies offering high dividend yields and consumer-oriented companies with a focus on emerging markets
June 10, 2014--Two new equity index ETFs issued by iShares have been tradable in Deutsche Börse's XTF segment since Tuesday.
ETF name: iShares MSCI Emerging Markets Consumer Growth UCITS ETF
Asset class: equity index ETF
ISIN: DE000A1131M4
Total expense ratio: 0.60 percent
Distribution policy: non-distributing
Benchmark: MSCI ACWI Emerging Markets Consumer Growth Index
ETF name: iShares MSCI USA Dividend IQ UCITS ETF
Asset class: equity index ETF
ISIN: IE00BKM4H312
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Source: Deutsche Börse
Eurex Group concentrates Commodity Trading on one Platform
Trading in agricultural products to be launched on EEX in 2015
June 10, 2014--The European Energy Exchange (EEX) and Eurex Exchange have jointly decided to concentrate trading in agricultural derivatives within EEX, in which Eurex holds a majority interest of 62,57 percent. The move will give customers access to a large and standardised offering of commodity derivatives contracts via one platform.
Thus, the agricultural derivatives currently tradable on Eurex Exchange will be offered on EEX from 2015. Eurex Exchange's product portfolio comprises futures on potatoes, skimmed milk powder, whey powder, butter, hogs and piglets. All contracts are quoted in Euro and are settled in cash. Market indices which reflect the underlying physical transactions are used as reference prices.
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Source: Eurex
Further Reforms and Investment Needed to Safeguard Jobs and Recovery in Europe
June 10, 2014--Europe 2020 Competitiveness Report confirms Europe's lack of progress in bridging the competitiveness gap with the US and other advanced economies, and competitiveness divide within the EU
The "fire-fighting" phase for Europe's economy may be over, but recovery and job creation are jeopardized by inaction on driving competitiveness
The competitiveness agenda should be placed at the centre of national and European policy to meet 2020 goals of becoming a smart, inclusive and sustainable society
A failure to implement fundamental reforms associated with encouraging competitiveness is putting job creation and Europe's long-term economic strategy at risk, finds The Europe 2020 Competitiveness Report: Building a More Competitive Europe, released today by the World Economic Forum.
view the WEF The Europe 2020 Competitiveness Report-Building a More Competitive Europe
Source: WEF (World Economic Forum)
MOVES- Invesco Powershares, Willis Group, Benson Elliot, Lloyds Bank
June 9, 2014--INVESCO POWERSHARES
The investment boutique firm, part of Invesco Ltd, said it appointed Kristian Walesby as head of ETF capital markets,
EMEA as part of its ongoing push to expand in Europe.
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Source: Reuters
Source expands marketing team
Three strategic appointments support firm's wider growth aims
June 9, 2014--Source has made three strategic hires in its European marketing team. John Hurley has joined the firm as director in marketing strategy, David Scales has joined as director in investment writing, and Brooke Petersen as an associate in events.
These appointments follow the recent additions to Source's regional coverage teams and are part of the firm's wider expansion to support growth in assets, investor base and geographical reach.
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Source: Global Investor
Drugs, sex and alcohol could boost growth
June 9, 2014--Europe's governments are turning their attention to prostitution, drugs and contraband as possible ways of boosting their economic growth profiles, as they struggle away from their debt crises.
Italy caused a stir when it announced last month that it would begin including revenues from drug trafficking and the sex trade, as well as contraband tobacco and alcohol, to calculate gross domestic product (GDP) from next year.
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Source: EUbuiness
Euroclear Bank's international ETF structure premiers on BATS Chi-X Europe
The iShares ETF lists today as first international ETF on the
exchange
June 9, 2014--Brussels and London-Euroclear Bank, a world
leading international central securities depository, in partnership
with BATS Chi-X Europe (BATS), the continent's largest stock
exchange, announce the first exchange-traded fund (ETF) to be
listed on BATS with an international securities structure.
iShares MSCI USA Dividend IQ UCITS ETF, which will be
available to trade on BATS from today marks a further step
forward in the two firms' efforts to streamline ETF trade
processing and settlement in the European market.
The iShares MSCI USA Dividend IQ UCITS ETF invests in US companies that target higher-than-average dividend yields. Securities are screened according to their earnings quality and to ensure that the dividends they pay are both sustainable and persistent over time. The fund aims to provide European investors with access to high quality income streams.
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Source: BATS Chi-X Europe
IMF United Kingdom- 2014 Article IV Consultation Concluding Statement of the Mission
June 6, 2014--1. The economy has rebounded strongly and growth is becoming more balanced. Growth has accelerated since the second half of 2013, and leading indicators suggest that the recovery has momentum. Although household expenditures played the driving role in the early stages of the recovery, business investment has picked up more recently. Net exports remain subdued.
2. Inflation has fallen rapidly. Despite lackluster productivity growth and the recent rebound in demand, inflation has dropped to just below the Bank of England's 2 percent target, owing to the fading impact of administered price increases, lower import prices, and weak growth in wages and margins.
3. Good macroeconomic performance is expected to persist. Real GDP growth is projected to remain strong this year, before gradually returning to trend rates, driven by further rebalancing toward business investment and a gradual recovery in productivity. Inflation is expected to revert to target.
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SOurce: IMF
ECB unveils radical moves to fight deflation and lift economy
June 5, 2014--Mario Draghi became the first major central banker to cut a key interest rate below zero as he unveiled a series of radical measures to stave off a crippling bout of deflation, and signalled his willingness to take further action.
As well as interest rate cuts, the European Central Bank president...
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Source: FT.com
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