FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

February 8, 2013 • 10:38 am 0

ICE gets green light for Brazilian fixed income trading platform

IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, and Cetip S.A., Latin America’s largest private fixed income depository, announced that the jointly developed fixed income trading platform Cetip | Trader is expected to launch on February 25, 2013.

This follows a successful beta test that started in August and final regulatory approval from the Brazilian securities regulator Comissao de Valores Mobiliarios (CVM) today.

“This platform reinforces Cetip’s commitment to develop an efficient and transparent secondary market, respecting and improving the practices of our local over-the-counter market,” said Cetip Managing Director Carlos Ratto.

Cetip | Trader offers market participants access to voice confirmation, electronic trading and historical data in a single platform. Over the past few months, it has been thoroughly tested in a simulated trading environment with approximately 80 institutions entering more than 100,000 mock trades. While the platform was initially developed for corporate and government bonds, its flexible architecture is adaptable for new products as driven by market demand.

“We are providing an innovative solution that brings the front office a more dynamic and intuitive language,” said Cetip Trading Solutions Manager Ricardo Vit. “Cetip | Trader is a flexible and simple tool that will help keep our customers ahead of the curve.”

“ICE was pleased to work with Cetip to build a product that is customized for the Brazilian market, available in Portuguese, and that provides a complete trading solution to the market for corporate and government bonds,” said ICE Senior Vice President and Chief Strategic Officer Dave Goone.

ICE Link, ICE’s post-trade processing service, will also be available to Cetip | Trader customers beginning February 25. ICE Link has developed straight-through-processing workflows customized for the Brazilian bond market. These workflows enable middle and back office operations to more efficiently and effectively allocate trades and submit them to Cetip for registration.

Said Vit, “In addition to easier access to liquidity and execution, the complete solution also aims for better operational risk mitigation and total cost reduction on the life of a trade. ICE Link allows standardization in the trade workflow and better data integrations with counterparties and internal systems. This provides market participants a level of automation never before experienced in the Brazilian over-the-counter market.”

Source:  IntercontinentalExchange, 08.02.2013

Filed under: Brazil, Exchanges, Latin America, Trading Technology, , , , , , ,

January 30, 2013 • 1:41 am 0

Falcon Private Bank goes live with the B-Source Wealthmanagment Outsource Solution

B-Source successfully migrated Falcon Private Bank with its global locations to the B-Source Master at the beginning of the year. This will enable the established Swiss private bank to further optimize its processes and concentrate on its strategic expansion.

The successful migration of Falcon Private Bank to the B-Source Master means another Swiss financial institution has put its faith in B-Source’s reliable and innovative banking solution. Falcon Private Bank opted to outsource the operation of its banking platform and migrate it to the B-Source Master, an Avaloq-based banking application landscape using the ASP (application service provisioning) model. All three banking locations in Switzerland, Hong Kong and Singapore were migrated. The work was successfully completed within 15 months, a short period given the differing regional legal regulations. Orbium, a long-standing partner of B-Source, also played a decisive role in the successful project implementation.

By outsourcing its banking platform, Falcon Private Bank has a powerful, efficient and scalable banking solution that will allow it to focus on its strategic expansion in emerging markets. The bank chose B-Source in part due to its extensive expertise and long-standing experience not only in Switzerland but also with locations in other countries.

“The main reason behind our decision was B-Source’s experience in international outsourcing business, as we wanted to migrate several locations to the new banking system at the same time,” explains Tobias Unger, COO of Falcon Private Bank. “The migration of our banking platform to the B-Source Master creates the basis for optimal fulfilment both of our clients’ growing demands for higher quality service and of new regulatory requirements, and for pressing ahead with our global strategy and direction,” adds Unger.

“The migration of Falcon Private Bank to the B-Source Master is a further success for us, and we are proud to count another renowned first-class Swiss private bank among our clients in the shape of Falcon Private Bank. B-Source’s long-standing experience with international private banks enabled us to successfully implement this challenging project in a very short time and to a high level of quality,” says Markus Gröninger, CEO of B-Source AG.

Source: B-Source, 30.01.2013

Filed under: Data Management, News, , , , , , , , ,

January 22, 2013 • 9:30 am 0

Banchile builds on Fidessa’s sell-side trading platform and connectivity network

São Paulo, January 22, 2013 – Fidessa group plc (LSE: FDSA) has announced today that Banchile, Chile’s third largest brokerage house, has selected its Latin American sell-side trading platform to underpin its institutional trading activity. The scalable SaaS solution, which includes access to Fidessa’s extensive global connectivity network, will provide Banchile with a firm foundation from which to pursue its growth strategy. The decision followed an extensive due diligence process by Banchile.

Fidessa’s Latin American trading platform gives Banchile world-class technology and infrastructure, tailored to the region’s specific local regulatory and market needs. Banchile will benefit from Fidessa’s highly-sophisticated order management system, which delivers seamless straight-through processing of international institutional orders from order creation and routing, to automatic notice of executions and confirmations. Fidessa will also provide advanced trading tools, including algorithmic and basket trading capabilities, to augment Banchile’s service offering and facilitate complex trading workflows. The implementation of these new functions will complement Banchile’s research services and extend the services their execution desk provides.

In addition, Banchile will gain membership to Fidessa’s global connectivity network, which processes order flow of more than $800 billion each month, granting it access to 3,200 buy-sides and 180 venues globally. The system will be hosted by Fidessa and co-located at the Santiago Stock Exchange. With better proximity to the exchange, Banchile will gain access to reliable, low-latency execution capabilities and be able to leverage the exchange’s ongoing investments in infrastructure and improvements to its matching engine.

Jose Antonio Diaz, Chief Investment Officer at Banchile, commented: “Through Fidessa’s trading platform, we are leveraging the most sophisticated and robust trading technology used by market participants across the globe. This enables us to offer world-class service to our growing institutional client base. Fidessa’s in-depth knowledge of the region is evident and this, coupled with its strong reputation for delivery and support services, drove our decision to partner with them.”

Alice Botis, Head of Business Development for Fidessa in Latin America, added: “We are delighted to add Banchile to our growing Latin American client base, demonstrating the strong demand for Fidessa solutions by domestic and international market participants. We are seeing a lot of activity in the Andean region with firms replacing legacy vendor and proprietary systems and investing in customizable, high-throughput, low-latency trading solutions to enable high-quality execution, greater operating efficiency and a solid basis for growth.”

Source: Fidessa, 22.01.2013

Filed under: Chile, FIX Connectivity, Trading Technology, , , , , , ,

January 22, 2013 • 12:21 am 0

Peru: LSE signs Bolsa de Valores de Lima to MillenniumIT tech

London Stock Exchange Group today announced that it has entered into a technology partnership with Bolsa de Valores de Lima.

MillenniumIT, a wholly-owned subsidiary of London Stock Exchange Group will provide state of the art trading and Smart Order Routing technology to Peru’s markets via its ultra low latency, highly scalable trading platform, Millennium Exchange and Millennium SOR.

Tony Weeresinghe, Director of Global Development at London Stock Exchange Group and CEO of MillenniumIT, said: ”This is a significant achievement for us. Peru is one of Latin America’s fastest growing economies, and there is need for efficient, reliable capital markets infrastructure as business and investment continues to develop there. We look forward to building on this partnership, and playing our part in the next stage of Bolsa de Valores de Lima’s development.”

Francis Stenning, CEO at Bolsa de Valores de Lima, said: ”We are very conscious of the relevance of technology in our business. That is why we believe this upgrade in our electronic trading platform and order routing system will take us to the forefront of technology. It will allow Bolsa de Valores de Lima to keep up with the growing Peruvian economy, provide new services to the local market and increase its efficiency. This will allow us to benefit from better tools and a strategic alliance with one of the most developed stock exchanges in the world, London Stock Exchange Group, and to take advantage of more globally interconnected markets, including MILA.”

Source: Finextra, 18.01.2013

Filed under: Exchanges, Latin America, Peru, Trading Technology, , , , , ,

January 19, 2013 • 1:08 am 0

Latin America: Investor News Letter 18 January 2013

Mexico
Mexican Peso Slides on Carstens Hint at Interest-Rate ReductionMexico’s peso fell the most in four weeks after central bankers signaled that a further slowdown in inflation could prompt them to lower interest rates.
Nieto seeks to open Mexican energy sector
Los Tres Amigos: Positioning Your Portfolio In Mexican Peso Denominated Deb
Most U.S. funds missed Mexico gains, Brazil drop in 2012
Japanese investments in Mexico steady
Region completes work on international infrastructure project with Mexico

Brazil
Brazil’s Real Declines on Inflow Concern; Swap Rates Climb
Brazil: Daylight piracy
“SQUEEGEE merchants of the seas”: that is the nickname shipping companies have bestowed on the pilots who guide ships into Brazilian ports. Their legal monopoly and unregulated fees place them among the country’s highest earners: 150,000 reais ($73,500) a month, estimates the shipowners’ association. It costs twice the OECD average to import a container to Brazil, says the World Bank—and since that excludes bribes and fees for go-betweens, the true figure is surely greater.
Brazil Seeks Private Partners to Operate Rio de Janeiro, Belo Horizonte Airports
Brazil announces regional airport infrastructure investment plans
Brazil aviation faces turbulence after rapid ascent
Brazil ports starved of investment, buried in red tape-group
Guyana, Brazil sign on to infrastructure plan
Brazilian municipality of São Bernardo do Campo to improve sustainable urban mobility with loan from IDB

Latin America
Argentina: Tax & Estate Planning
Argentina rapidly changing oil/gas industry levies to attract foreign investment
Bolivia takes over Spanish-owned Iberdrola energy suppliers
Colombia: ANI to launch four new public infrastructure concessions valued at US$1.95bn
Colombian Peso Advances on Foreign Investment Outlook
Chile: First Solar Stakes Claim in Latin America
Peru’s investment opportunities attracts Qatar’s firms Peru: Infrastructure gap put at $88bn
Peru-based AFPs invest over US$3.5bln in infrastructure
Cement Industry Figures In Peru: Btg Pactual Begins Coverage Of Cpac With A Buy Recommendation
Peru to invest over US$701mln in access infrastructure projects
Peru: Ezentis shifts focus to Latin America, helped by $64M Telefónica Peru contract
Peruvian entrepreneurs expect investment to continue growing in 2013
Venezuela: What Hugo Chavez’s Illness Means for Venezuelan Mining

Latin America and Caribbean PhotoVoltaic Demand Growing 45% Annually Out To 2017 
Latin American ports record strong performance in 2012
South America: A Powerhouse, Not a Circus
10 Latin American startups to look out for in 2013

Filed under: Argentina, Brazil, Chile, Colombia, Energy & Environment, Japan, Latin America, Mexico, News, Peru, Risk Management, Venezuela, , , , , , , , , , , , , , , , , , , , , , ,

January 18, 2013 • 1:32 am 0

VAM: Vietnam Market Analysis – December 2012

Improved economic conditions somewhat buoyed the stock market in the last month of the year as all three indices moved up
The VN-index closed at 413.7, gaining 11.23% while VN30 closed at 485.4, picking up 9.42%. HNX was the best performer of three indices, increasing 11.83% to close the month at 57.09.
 
Macro indicators showed joyful December
Market confidence was regained thanks to better-than-expected CPI, trade balance, interest rates cut and detail implementation of the Government on spurring the economy. For the first time in four months CPI slowed in December, with consumer prices rising 6.81% from a year earlier after climbing 7.08% Y-o-Y in November. Consequently, the State Bank cut benchmark interest rates for a sixth time to help companies cope with difficulties in production and business. The trade balance posted a first year of surplus (of US$284mn) since 1993. Despite a gloomy year, FDI disbursement reached USD10.5bn, dropping a marginal 5% YoY. As a result, foreign reserves are significantly improved, reaching US$24 billion, equivalent to 12 weeks of import. The Dong remains unchanged.
 
However, stability was achieved at the cost of growth
Vietnam’s economy expanded at the slowest pace in 13 years in 2012 as a slump in bank lending dampened domestic demand. GDP grew 5.03%, down from 5.89% in 2011, and the lowest since 1999. Bad debt and the gloomy business environment hampered credit growth, which ended 2012 at 6.45% YoY while total liquidity growth and deposit growth were 19.85% and 20.29% YoY, respectively.As the lenders’ liquidity position becomes comfortable and full-year inflation was a lower-than-expected 6.81%, the central bank decided to cut all policy rates and deposit cap rate by 1%, effective on December 24, in an attempt to make banks lend more. But as the real interest rate is still positive, some are speculating on another rate cut, even as the World Bank warned against easing too soon.
On the other front, the HSBC’s Vietnam PMI index fell back to deterioration in December, down to 49.3 from 50.5 last month, as a result of reduction in order inflows, disinvestment of inventory holdings and stagnating production volumes.
 
Government details its determination to spur the economy
To spur the economy and resolve the financial system, the Government started implementing a detailed action plan. Businesses may enjoy lower corporate income tax rate in 2013, i.e. 23% for large enterprises and 20% for SMEs (down from 25% earlier); real estate will receive more support based on a newly approved proposal by MoF, which includes a 50% VAT reduction, 2-year extension on the deadline of land use fees payment and the establishment of AMC aiming to solve rising NPLs. Moreover, USD300mn from Asian Development Bank in a 25-year loan package will help to restructure SOEs in 2013.
 
Authority changes rules to push the capital market
On the capital market, SSC submitted its proposal in support of the stock market to the Ministry, in which key measures might include tax incentives, allowing to issue stocks below par, increasing margin ratio and trading band and most importantly, increasing foreign ownership limit. Otherwise, SBV governor also announced that they are working on revising the Decree 69/2007, wherein special cases, i.e for restructuring commercial banks, the foreign ownership ratio might be allowed to exceed 30%. Since 10th January, the number of gold bar shops will decline from 8,000 to 2,400 including around 900 in Ho Chi Minh City and 400 in Hanoi, after SBV completes the licensing procedures. 
 
Our View – On the background of good macro economic indicators coming out in December and improved investor sentiments after seeing the Government’s determination to spur the economy being detailed into action plans, the stock market had a good run in the last month of 2012. We are cautiously optimistic and have started to mobilize cash into Vietnam Dong to be ready for deployment toward increasing equity level for the Fund. We are keen to buy stocks of strong companies with sound cash flow and healthy balance sheets in fundamental industries such as consumers and materials.

Filed under: Banking, Exchanges, News, Risk Management, Services, Vietnam, Wealth Management, , , , , , , , , , , ,

January 8, 2013 • 11:39 am 0

Mexico City-Based Broker CI Casa de Bolsa Signs with Perseus Telecom

  •  For the Fastest, Market-To-Market Connection with Mexico
  • Partnership enables New York and Mexico City trading communities to receive market signals and send transactions at the lowest latency rates available

Perseus Telecom, a leading global provider of connectivity, today announced that it has signed CI Casa de Bolsa to its ultra-low latency network between the New York and Mexico City markets. The launch of this partnership represents a landmark development as the fastest trading route between the two marketplaces and creates new opportunities for trading firms across the globe.

CI Casa de Bolsa, a leading Mexico City-based brokerage house, has a global client base seeking liquidity in the Mexican marketplace. With US-listed stocks displayed in Mexico, CI Casa de Bolsa has chosen Perseus Telecom for its high-speed, ultra low-latency network connection from New York to Mexico City for the fastest execution capabilities possible for foreign investors.

“We are very happy with our decision to use Perseus Telecom. Their network is built for performance and customer satisfaction without the overbearing costs that low-latency technology can sometimes bring to our bottom line,” states Mauricio Suarez, Head of International Sales at CI Casa de Bolsa. “The beneficiaries of lower costs and lower latency are our clients and serving them stands as CI Casa de Bolsa’s primary objective.”

Dr. Jock Percy, CEO of Perseus Telecom, explains, “We are quite pleased to have a reputable firm like CI Casa de Bolsa join the Perseus Telecom global network. As Perseus Telecom looks to bring more value to investment communities at different corners of the globe, markets like Latin America, led by Brazil and Mexico, are important to us and our customers. CI Casa de Bolsa coming on-net is a testament to our commitment to these markets.”

Source: Perseus Telekom, 07.01.2013

Filed under: Mexico, Trading Technology, , , , , , , , ,

January 4, 2013 • 12:03 am 0

GFI Group to Supply Market Data to Mexico’s PiP LATAM

GFI Market Data, a division of GFI Group Inc. (NYSE:”GFIG”) announced today that it has signed an agreement with Mexico’s Proveedor Integral de Precios “PiP” under which GFI Market Data will become an official price contributor to PiP’s eurobond pricing and curve calculations.

PiP started operations in the year 2000 and was the first price vendor company authorized by the Mexican Securities Commission (CNBV) to provide prices for the valuation of financial assets. They currently have operations in Mexico, Peru, Colombia, Panama and Costa Rica.

Francesco Cicero, Head of eTrading at GFI Group said: “We are very happy to be working with PiP and to be able to supply them and their clients with an independent view of the eurobond markets derived from our highly experienced brokers as well as from our premier electronic trading screen for fixed income, GFI CreditMatch®”.

PiP distributes official closing prices via its PiP- Latam© system.

GFI Market Data provides real bid and offer prices and spreads for a broad range of instruments including asset backed securities, corporate bonds, emerging market bonds, floating rate notes, high yield bonds and structured products. Sourced directly from GFI CreditMatch®, our award-winning electronic trading platform for bonds and fixed income derivatives GFI data reflects market sentiment rather than indications gleaned through aggregated pricing.

Source: Bobsguide 03.01.2013

Filed under: Colombia, Data Vendor, Latin America, Market Data, Mexico, Peru, , , , , , , , , , ,

December 23, 2012 • 1:17 am 0

VAM: Vietnam Market Analysis – November 2012

Whilst SBV is still struggling to tackle bad debt, additional banking scandal has fanned market concerns about banking system instability
Coming as another shock that made the market drop 3.27% in one day was the resignation of Mr. Dang Van Thanh as Chairman of Sacombank following his wife’s resignation from Sugar Bourbon Tay Ninh. Though there are many rumors spread around this news, the market is looking at it as uncertainty still exists in the banking system. Fortunately, depositors’ reaction seemed to be calmer this time as there was no sign of “bank run” after the resignation. In the meantime, decision on the SBV’s initiative in setting up company to own and manage bad debt for banks has not been reached.
 
Stability continues to be the priority for next year
The government ended the National Assembly meeting with a good showing of strong determination to restructure the banking system at the lowest cost possible, and preventing any systemic collapse. Since the peak in August last year, inflation has been successfully controlled, at the cost of slowest GDP growth in 13 years. The national CPI growth rate posted a modest increase of 0.47% M-o-M in November, a deceleration from 0.85% in the last month and 2.2% in September when one-off adjustments were made to pharmaceutical and health care items. The government forecasts that 2012 CPI would be around 7.5% Y-o-Y and a decade low target of 6% is set for next year as well.
 
Lower inflation adding pressure on rate cuts
Lower expected FY2012 inflation of 7.5% and healthy liquidity condition of lenders are adding more pressure on rate cuts. By Nov 20, total deposit also increased 15.98% YTD while credit growth including trust investment and corporate bond investment was only 4.15% YTD. Banks now turn to bonds to put excess cash to work, which consequently causes the yield to drop. Under this circumstance, the Government has made known their contemplation of cutting deposit rate or putting a ceiling for lending, with a view to creating better environment to spur economy in 2013. The Government expects the economy will expand at 5.5% next year.
 
Dong confidence is strengthened
Despite the gloomy condition, FDI sector is doing well. Foreign companies’ export turnover rose 30% in eleven months through November, accounting for about two-thirds of total exports. The YTD FDI disbursement has reached USD9.9bn up to November 2012. This amount was down just slightly from USD10.05bn in 11M2011. The negligible decline showed that the foreign capital flow into Vietnam was still stable, helping the balance of payment to remain in surplus this year. The YTD trade balance is also a surplus despite a small deficit in November. And it is likely that Vietnam will record the first year of trade surplus since 1995. The deficit if any, will be lower than USD1bn. The export gains have reinforced Vietnam’s foreign-exchange reserves, expected to reach the equivalent of about 12 weeks of imports by the end of the year, which in turn would support the value of Dong.
 
PMI data signals recovery
The seasonally adjusted HSBC Vietnam Manufacturing PMI posted an increment to 50.5 from 48.7, which is above the neutral 50.0 value for the first time since September 2011. Although the index showed only a marginal improvement, it reflected returns to growth in both production levels and new orders during November. The increase in November’s PMI underscores optimism the economy is recovering after 14 month slowdown, which is in line with the situation in China and U.S. 
 
All three indices moved lower over November with low liquidity
The Vn-Index closed at 377.82, losing 2.64%. The HN exchange tumbled 3.36% to 51.05, whilst the VN30 dropped 3.19% to 443.68.
 
Our View – We are hopeful that the worst may be over. The market is waiting for clearer signs of economic turnaround while the Government is showing its determination in solving its problems. The trade-off between stable economy and growth requires consistency in policy setting. The stability of Dong and low inflation target level next year make Vietnam’s business environment more attractive. Fortunately, on the bottom-out journey, Vietnam would be helped by the data signaling a recovery in U.S. and China.

Filed under: News, Risk Management, Vietnam, , , , , , , , ,

December 21, 2012 • 10:03 am 0

ICE to acquire NYSE Euronext for 8.2 billion USD – Back Ground and Analysis

The overall mix of the $8.2 billion of merger consideration being paid by ICE is approximately 67% shares and 33% cash. The transaction value of $33.12 represents a 37.7% premium over NYSE Euronext’s closing share price on Wednesday.  The transaction is expected to close in the second half of 2013, subject to regulatory approvals.

Investors see plenty of upsides in a takeover by ICE, which would create a powerhouse in cross-asset trading and reduce Nyse Euronext’s reliance on stagnating, hyper-competitive equity markets. Nyse’s share of trading on stocks listed on the Big Board has shrunk from 82% to just 21% in a fiercely competitive market.  For ICE, a tie-up with Nyse Euronext will give the energy trading bourse a leg-up into the expanding market for over-the-counter derivatives contracts and the geographical outreach to take on the Chicago Mercantile Exchange.

The two companies have already inked an agreement for Nyse Liffe to move its clearing operations to ICE Clear Europe. The implications of the deal for Nyse Liffe’s plans to move its clearing from LCH.Clearnet to a newly-constructed inhouse CCP by June 2013 have not been spelled out.

The combined company is expected to save up to $450 million through cost synergies in the second full year post closing. ICE has successfully integrated more than a dozen acquisitions in the last decade.  An earlier bid by ICE to take over Nyse Euronext in tandem with Nasdaq OMX was nixed by the US Justice Department on anti-competitive grounds. Observers see no similar objections being raised to a straight merger, with Nasdaq OMX removed from the equation. FinExtra 20.12.2012

NYSE and ICE: Not So Nice for European Equities

Given the sweeping changes hitting exchanges on the back of growing regulation and falling equity volumes in Europe, the combined entity would increase its chance of success, dominating European energy, commodity and short-dated fixed income trading, as well as OTC credit clearing; and leap-frogging Deutsche Boerse to become the world’s third-largest exchange group, with a combined market value of $15.2 billion.

However, not all divisions would benefit. Whilst a tie up with ICE would enable London-based Liffe to compete more effectively with CME Group in both trading and clearing of OTC products, for Euronext the future looks less certain. According to NYSE’s investor presentation explaining the deal, ICE “intends to explore an IPO of Euronext if market conditions allow and if European policy makers are supportive.” See full article at TABB Forum 20.12.2012.

ICE and NYSE Euronext Enter Clearing Services Agreement; ICE Clear Europe to Clear NYSE Liffe’s Derivatives Markets

ICE and NYSE Euronext agree that their wholly owned subsidiaries, ICE Clear Europe Limited and LIFFE Administration and Management have entered into a clearing services agreement pursuant to which ICE Clear Europe will provide clearing services to the London market of NYSE Liffe (“NYSE Liffe”). The clearing services agreement will allow NYSE Liffe to transition seamlessly from their current clearing arrangements. See full article at Bob´s Guide 20.12.2012

Inside ICE takeover of NYSE Euronext ( Tabb Forum Video Interview)

Exchange Consolidation: Getting Over Merger Mania

At this time last year, NYSE Euronext and Deutsche Bourse were more than midway through a year-long merger push that would have resulted in an exchange operator with an estimated $16 billion in combined market capital and a near monopoly on the European exchange-traded derivatives business. Consolidation, it seemed, was the key to competing in the global exchange landscape.

But dreams of consolidation, synergies and economies of scale were quickly dashed. The two biggest cross-border exchange deals — NYSE/DB merger and the proposed merger of the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX) — were blocked by regulators, and the LSE’s attempt to buy the Toronto Stock Exchange (TMX), which also failed initially due to reluctant regulators, eventually lost out to a domestic bid from Maple Group Acquisition Corp. earlier this year. see full article at TABB Forum 12.12.2012.

Filed under: Exchanges, News, , , , , , , ,

December 21, 2012 • 12:48 am 0

Thomson Reuters to Open Up RICs for Consolidated Feeds Under EC Settlement

The European Commission has ended its lengthy enquiry into Thomson Reuters’ licensing policies for Reuters Instrument Codes (RICs), accepting commitments from the company that will create a more fluid market for real-time consolidated data feeds. The deal creates a new environment for Thomson Reuters as it finds itself competing in an increasingly open market.

The company welcomed the Commission’s decision – perhaps on the basis of the end of the enquiry rather than the commitments it must stick to – and was quick to point out that its new licensing commitment is consistent with the move it made in June 2012 to make RICS available foruse with non-real-time information in client and non-client financial institutions’ trade processing systems. At that time, Thomson Reuters’ then-Enterprise content chief Gerry Buggy, described the move as the “first step in supporting the financial community’s symbology needs across all parts of the trading life cycle through our evolving symbology services.”

The Commission made its decision to end the enquiry after accepting commitments put forward by Thomson Reuters in May 2012 that were then market tested with a third-party comment period running until August 2012. The commitments have been made legally binding, with the key outcomes being that Thomson Reuters’ customers can continue to use RICs in real-time applications after they have switched to an alternative real-time consolidated data feed provider and use RICs in combination with the alternative provider’s data.

Commenting on the Commission’s decision, Commission vice president of competition policy, Joaquin Almunia, says: “Information plays a key role in ensuring that financial markets operate in a healthy and efficient way. In order to correctly assess investment opportunities, market participants need to access accurate and timely financial data, for example through consolidated real-time data feeds. The commitments offered by Thomson Reuters will enhance competition in this market. Financial institutions that use RICs will now be able to switch to alternative providers more easily.”

Responding to the Commission’s decision to adopt Thomson Reuters’ commitments, David Craig, president of Financial & Risk at the company, says: “Following a detailed examination of the facts, the Commission accepted our proposal without any finding of infringement of EU competition law by Thomson Reuters. We now look forward to continuing to work with our customers to bring world-class, real-time data feed and symbology solutions to market.”

In essence, Thomson Reuters’ commitments allow customers to license additional RICs usage rights for the purpose of switching data vendors and to use RICs for retrieving data from other providers against a monthly licence fee. The company will also provide customers with the necessary information to map RICs to alternative symbology, and allow third parties to develop and maintain switching tools that allow RICs and rival services to interoperate by mapping RICs to the financial identifiers of other data feed providers. Third-party developers can use and keep RICs in their switching tools on payment of a monthly licence.

If the Commission’s decision is favourable for users of consolidated real-time data feeds, it must also be of great interest to their suppliers, with 2013 promising to be both a battleground and a peace mission as suppliers struggle to maintain market share while responding to market demand for more open symbology solutions.

Source: Reference Data Review, 20.12.2012

Filed under: Data Management, Data Vendor, Reference Data, , , , , , , ,

December 15, 2012 • 2:19 am 0

Latin America: Investor News Letter 14 December 2012

Mexcio

With a little help from my friends; Mexico´s new Government
The rise of Mexico The US needs to look again at it´s increasingly important neigbour
Mexico’s New President Offers Much to U.S. Investors
Macquarie Mexico IPO Offers REIT Where Murder Reigned
Thor Urbana Capital Launches $500M Investment in Mexico
HSBC became bank to drug cartels, pays big for lapses
Pemex Sues Siemens Claiming Bribery in Refinery Project
How to Invest in Mexico
Peru, Chile and Mexico are Societe Generale’s favourites for LatAm investments Cemex crumbles and Latin America starts to look weak
 
Brazil
Brazil stimulates construction to spur economy
Deutsche Bank Reduces Investment Bank, Research Teams in Brazil
Brazil Subsidizes Uncertain Shipyard Success
Rousseff Seeks Investment From Spain
Alstom handed Sao Paulo infrastructure contract
GE to Build Oil, Gas Facility at LLX’s Brazil Acu Port
New trains for World Cup host cities
Brazil´s Ceará to receive $66.5 million IDB loan to improve urban infrastructure and business environment

Latin America

LatAm Wealth Management Overview
The world has gotten wealthier, but not the whole world. The engine of growth for private wealth is by far the emerging markets such as LatAm and, particularly, East Asia ex-Japan, which is outpacing the rest of the world by a long shot …

South American airports need more investment: ALTA head
Can South America Become the New European Union?
IDB Approves $153 Million in Loans to Set Up IDB-China Eximbank Equity Investment Platform

Argentina

Argentina May Abandon International Court, Treaties Over Debt Ruling
Argentina raising energy tariffs to fund investment
Argentina’s YPF buys majority stake in natgas distributor

Chile

Chile approves Endesa 740 MW coal-powered project

Colombia

Colombia is Fast Becoming a Rising Oil Giant in Latin America
Southern Cross Group Invests in Sociedad Portuaria Regional de Barranquilla (Columbia)
Holcim to double capacity in Colombia by building new US$600mn cement plant
As Panama Canal expands, Latin America rushes to be ready
Embezzlement stalling Colombia’s infrastructure development: Minister
Infrastructure in Colombia

Peru

Peru Is Clear Investment Destination In Latin America: Minister
Peruvian ports in peril?
 
FiNETIK News Summarier, 14.12.2012

Filed under: Argentina, Brazil, Central America, Chile, Colombia, Energy & Environment, Latin America, Mexico, News, Peru, Risk Management, Wealth Management, , , , , , , , , , , , , , , , , , ,

December 14, 2012 • 8:41 am 0

Alternative Latin Investor: Hedge Fund Latin America Issue 19

We are proud to announce the launch of our 19th issue of Alternative Latin Investor, with a special focus on Hedge Funds within the region.

Special Issue: Hedge Funds Latin America

 LatAm’s Maturing Hedge Fund Industry  – The Need for More Managers in the Andean Region

Why LatAm Equity Funds are Looking Beyond Brazil

LatAm Hedge Fund Experts Weigh in on the Current Political and Economic Context

Hedge Fund Marketing Post-JOBS Act: Concepts to Begin the Advertising Conversation

Victor Hugo Rodriguez of LatAm Alternatives
LatAm’s Maturing Hedge Fund Industry
As they did in 2011, LatAm hedge funds are leading the world in returns in 2012. According to the November Eurekahedge Report, which tracks global returns through October, LatAm is up 8.17% in 2012, well head of Asia ex Japan, with 6.40%, and emerging markets in general, with 6.14% …

Latin American Art
2012 Auction Recap
Following inconsistent results during the 2-week stretch of mega-auctions of Impressionist/Modern and Art Post-War/Contemporary art at Sotheby’s, Christie’s and Phillips, anticipation for the Latin American art sales ran high. Evening sales featuring Latin American masterworks at both major auction houses preceded considerable day-sale offerings …

…and much more. Banking, Regulations, Political Risks,  Foreign Direct Investment, Renewable Energy, Agri Business, Wine Investment, Infrastructure, Art Investment

Please view and access Issue 19  in the following formats

Virtual Viewer    http://www.alternativelatininvestor.com/issue19-preview.htm

For more details and information please view http://www.alternativelatininvestor.com

Source: AlternativeLatinInvestor 14.12.2012

Filed under: Argentina, Brazil, Central America, Chile, Colombia, Energy & Environment, Latin America, Mexico, News, Peru, Risk Management, Wealth Management, , , , , , , , , , , , , , , , , , ,

December 7, 2012 • 1:11 am 0

Nyse Technologies expands SFTI network in Asia

Nyse Technologies, the commercial technology division of Nyse Euronext, today announced the continuing expansion of its Secure Financial Transaction Infrastructure (SFTI) in Asia with the introduction of two access centres located in Hong Kong.

Customers now, for the first time, have direct access to the SFTI network, allowing them to connect from Hong Kong to services offered by NYSE Technologies through SFTI, including access to Hong Kong Exchanges & Clearing (HKEx), all major international trading venues, market data solutions, plus the NYSE Euronext capital markets community.

As part of the expansion of the SFTI network to include Hong Kong, NYSE has also extended SFTI to the new HKEx Data Centre colocation facility, giving customers there access to all the services available on SFTI through a simple cross connect to their colo racks. NYSE Technologies also plans to expand SFTI in the region to connect other markets like Australia and Korea.

NYSE Technologies’ Secure Financial Transaction Infrastructure provides access to a comprehensive range of capital markets products through a single point of access and offers low-latency trading access to the NYSE Liffe and NYSE Euronext markets. SFTI Asia is the most recent extension of the global backbone, enabling Asian firms to receive market data and trade on multiple markets. Designed to be the industry’s most secure and resilient network, SFTI is specifically built for electronic trading and market data traffic thus enabling firms to reduce their time-to-market, improve their performance and significantly lower the cost of their trading infrastructure. Furthermore, the global backbone allows customers to connect to their trading infrastructure distributed in financial centres around the world using a SFTI connection on the other side of the world.

“The addition of these important access centres in Hong Kong is a further step in the expansion of NYSE Technologies’ footprint and reach of the SFTI Asia network and adds to our established presence in Singapore and Tokyo.” Daniel Burgin, Head of Asia Pacific, NYSE Technologies, commented. “Offering multiple access centres in the Asia Pacific region allows them to use SFTI Asia to connect to regional and global exchanges and markets in a cost effective way through a single connection at each of the client’s locations around the region. This eliminates the overheads and costs associated with maintaining separate network connections in each location to multiple trading venues.”

Source: NYSE Technology 06.12.2012

Filed under: Australia, China, Data Management, Data Vendor, Exchanges, Hong Kong, Japan, Korea, Market Data, News, Singapore, , , , , , , , , , , , , ,

December 6, 2012 • 12:57 am 0

HKEx completes LME acquisition

Hong Kong Exchanges and Clearing Limited (HKEx) and LME Holdings Limited (LME Holdings), the parent company of The London Metal Exchange Limited (LME), are pleased to announce that the acquisition of the entire issued ordinary share capital of LME Holdings by HKEx has completed today.

Completion was effected by the delivery of the relevant court orders to the Registrar of Companies for England and Wales.

The transaction brings together the leading operator of exchanges and clearing houses in Asia, with the world’s leading non-ferrous base metals trading venue.

Charles Li, Chief Executive of HKEx said, “We are delighted that, as of today, the LME is formally part of the HKEx group. We are confident that this partnership will deliver enormous benefits over time as we leverage our relationships and knowledge to build on LME’s strong global position.”

Martin Abbott, Chief Executive of the LME said, “The LME will remain the world’s foremost base metals exchange thanks to HKEx’s position in Asia, its infrastructure and resources. We begin a new chapter today but the LME is more secure than at any point in its 135-year history.”

Source: Finextra, 06.12.2012

Filed under: Exchanges, Hong Kong, Services, , , , , , , ,

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