Solutions
DZ BANK has successfully commenced clearing its interest rate swaps (IRS) business through SwapClear, LCH.Clearnet Ltd’s (LCH.Clearnet) market leading over-the-counter (OTC) IRS clearing service. The total number of SwapClear clearing members now stands at 56.
DZ BANK, a corporate and investment bank, is the fourth largest bank in Germany providing centralised services to more than 900 German cooperative banks. Within the Volksbanken Raiffeisenbanken cooperative financial network, which is one of Germany’s largest private-sector financial services organisations, the DZ BANK Group is one of Germany’s leading “Allfinanz” providers for the local cooperative banks with strong market positions. By joining SwapClear, DZ
Eurex futures contracts on European processing potatoes (FEPP) traded in the order book have passed the 100,000 mark for the first time since their launch.
“The Eurex future on European processing potatoes is a very important price hedging instrument for the entire central European potato industry – from farmers to the processing industry. We are very satisfied with the liquidity the market has achieved in the past few months, and aim to continue contributing to this success,” says Rene van Diepen, Director of the Dutch Organisation of Potato Merchants (Nederlandse Aaardapple Organisatie – NAO).
Peter Reitz (pictured), member of the
NYSE Euronext’s global derivatives average daily volume (ADV) of 8.8 million contracts in June 2011 represents an increase of 8.0% versus the prior year driven by a 19.7% increase in US options ADV and a 14.3% increase in European fixed income derivatives which offset a 14.4% decrease in European equity products ADV.
Cash equities ADV declined across all venues in June 2011, with European cash ADV decreasing 2.8% and US cash trading ADV decreasing 28.7% from June 2010 levels.
NYSE Euronext European derivatives products ADV in June 2011 of 4.6 million contracts decreased 2.1% compared to June 2010 and
No hedge fund firm today should be designated a “systemically important financial institution” by regulatory authorities, according to the Alternative Investment Management Association (AIMA), the global hedge fund association.
As the Financial Stability Oversight Council considers and is expected to clarify soon the criteria by which it will determine which non-bank financial companies may be deemed systemically important, and thus subject to increased regulatory scrutiny, including additional oversight by the Federal Reserve, AIMA re-iterated its strong belief that no hedge fund manager based or operating in the US or elsewhere currently poses a risk to financial stability.
“We believe that
NYSE Euronext (NYSE:NYX) shareholders have approved the adoption of the business combination agreement with Deutsche Boerse AG and related proposals.
The proposals, which required approval by a majority of the outstanding shares or in some cases majority of shares voted of NYSE Euronext common stock, were approved at a special shareholders meeting held today in New York. Based on preliminary results, approximately 96.09% of the shares present at the special meeting voted for the approval of the combination, representing 65.68% of NYSE Euronext’s outstanding common shares.
“We are delighted that our shareholders support the value inherent in this compelling
The international derivatives exchange Eurex is to launch a new interest rate contract on 19 September 2011. The Mid-Term Euro BTP Future is based on notional medium-term bonds issued by the Republic of Italy (Buoni del Tesoro Poliennali – BTP).
The new contract will complement Eurex’s interest rate derivatives offering for all A and AA-rated European government bonds as well as for other interest rate instruments and will serve as an ideal hedging instrument for this market segment.
“The success of our two listed BTP futures increased the demand among our customers for the yield curve to be completed. Our
The US Commodity Futures Trading Commission (CFTC) today announced the release of two new data sets that add further transparency to commodity futures markets.
The new reports, entitled “Large Trader Net Position Changes” and “Trading Account Net Position Changes,” build on the CFTC transparency program initiatives. The data and explanatory notes, as well as average values for both measures, can be found on our website. The CFTC is providing this data to the public on a one-time basis.
“A core mission of the CFTC is to promote transparency,” says CFTC Chairman Gary Gensler (pictured). “The new data will provide the
Securities and derivatives trading on the Singapore Exchange was up year-on-year in June with total turnover rising 8% to $28.1 billion. Securities daily average value was $1.3 billion.
Exchange traded fund turnover increased 68% from a year earlier to $795 million, while derivatives total volume increased 17% year on year to 6.1 million contracts, with a daily average volume of 281,252 contracts.
China A50 futures trading rose 21% from May to 223,079 contracts while MSCI Taiwan futures volume was 25% up from a year earlier at 1.6 million contracts. Nifty futures volume was 48% higher from a year earlier at
Deutsche Bank is to serve as a market maker in the option on the EURO STOXX 50 Index Dividend future. Deutsche Bank is the first Permanent Market Maker in this product, providing continuous quotation in the order book.
Since 1 June 2011, Eurex Exchange has been offering its Permanent Market Makers who fulfil predefined quote obligations in the option on EURO STOXX 50 Index Dividend future significant rebates until the end of 2012.
“We are pleased to have Deutsche Bank as a Permanent Market Maker as price transparency in the order book is one major precondition for the further
Iron Harbor Capital Management has been approved as a Commodity Pool Operator (CPO) by the US Commodity Futures Trading Commission (CFTC) and the National Futures Association. As a registered entity, Iron Harbor must comply with various disclosures, reporting and record-keeping obligations imposed by the CFTC.
“As a registered CPO, we aspire to the highest standards of transparency and integrity,” says Gravelle Pierre, President of Iron Harbor Capital Management.
Jacqueline Hayot, Chief Operating Officer of Iron Harbor, adds: “Instead of filing for an exemption like similar investment advisors, we feel it’s important to signal to institutions and private individuals that we’re
