Exchanges
Internal affairs
Basel II
Return of a heavyweight
Sustained economic recovery in Japan will probably lead to the end of the country's zero interest rate levels in the third quarter of this year. What impact will this have on risk management and the use of derivatives? And how will it affect the…
Editor's letter
Comment
Old and the new
Tfex
Moscow bourse launches interest rate futures
The Moscow Interbank Currency Exchange (Micex) launched trading in short-term rouble interest rate futures this morning.
FSA’s consultation paper scraps plans to provide an Integrated Sourcebook
The Financial Services Authority (FSA) in the UK has published consultation paper 06/10, ‘Strengthening capital standards – restructuring the handbook’. The CP sets out the FSA’s proposals to revise the prudential structure of the handbook as a…
Europe lagging on Mifid implementation
Europe's financial institutions are unprepared for the implementation of the Markets in Financial Instruments Directive (Mifid), according to a survey by the international financial services firm KPMG.
Dubai Mercantile Exchange strengthens management team
The Dubai Mercantile Exchange (DME), which is set to launch in the fourth quarter of this year, has strengthened its management team with newly appointed chief operating officer, Thomas Leaver, and chief compliance officer, Sarah Watts. They have both…
TSX will trade derivatives with or without Montreal Exchange
The Toronto Stock Exchange (TSX) will set up its own derivatives exchange in 2009 if a merger with the Montreal Exchange does not go ahead, chief executive Richard Nesbitt said yesterday.
Atticus backs Euronext merger plans
Atticus Capital, a US hedge fund that holds 9% of the Euronext stock exchange, has encouraged Euronext to seek a merger with either Deutsche Borse or the New York Stock Exchange.
Bumped along by Basel II
Credit portfolio management has become an integral part of many big banks' risk management. Smaller banks have lagged behind, but the planned introduction of Basel II next year could provide an incentive for more active management of their loan exposures…
Regulators clear Australian exchange merger
The Australian Competition and Consumer Council (ACCC) has approved a merger between the country's two major exchanges, the Sydney Futures Exchange (SFE) and the Australian Stock Exchange (ASX).
Euronext board favours NYSE offer at AGM
Euronext’s board looks set to use today’s annual general meeting in Amsterdam to build investor support for an €8 billion takeover bid from the owners of the New York Stock Exchange (NYSE). But shareholders still remain divided about the future of the…
FSA examines the feasibility of benchmarking for execution policies under Mifid
The Financial Services Authority (FSA) in the UK has just released discussion paper 06/3, ‘Implementing Mifid’s best execution requirements’. The paper, open for comments until August 17, 2006, will inform the FSA’s approach to Article 21 of the Markets…
Mifid to be postponed again
LONDON – The implementation deadline for Markets in Financial Instruments Directive (Mifid) was postponed yet again, but industry bodies warn that firms should not delay their Mifid plans as a result. The most recent deadline, of November 2007, has been…
In the frame
Seven of the industry's top op risk executives debated framework implementation at a recent roundtable discussion in New York, moderated by Ellen Davis and sponsored by enterprise-wide risk solution firm FRS
DTCC and Jasdec to handle US stocks on Japanese exchange
The Depository Trust and Clearing Corporation (DTCC) has signed a deal with the Japan Securities Depository Centre (Jasdec) to streamline trading in US securities on Japanese stock exchanges.
S&P sets templates for German banks
The risk management services arm of Standard & Poor's, Risk Solutions, has completed a major internal ratings system project for the Association of German Pfandbrief banks (Verband deutscher Pfandbriefbanken, vdp). Vdp members provide capital for…
Deutsche Börse and SWX to launch joint warrants and certificates exchange
Deutsche Börse and the SWX Group are to open a joint warrants and certificates exchange. Although plans are in the initial stages, both parties have signed a letter of intent and the exchange is provisionally planned to begin operations at the beginning…
FTSE and LSE join forces for new index
FTSE Group and the London Stock Exchange (LSE) have introduced the FTSE AIM All-Share Supersector Indexes to the FTSE AIM Index Series. The new sector indexes are derived from the FTSE AIM All-Share Index and are based on the Industry Classification…
Crossing the Border
The push for MiFID may drive cross-border consolidation in Europe.
SGX teams up with Baltic Exchange
The Singapore Exchange (SGX) and the Baltic Exchange have signed an agreement, under which the European bourse will provide its benchmark prices for the settlement of forward freight agreements (FFAs) for dry bulk and wet tanker dirty routes cleared on…