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

Brazil: BTG Pactual Buys Generali’s BSI (Banca Svizzera Italiana) Swiss private-banking Unit for $1.7 Billion

Grupo BTG Pactual (BBTG11), the only investment bank publicly traded in Brazil, agreed to buy Assicurazioni Generali SpA (G)’s Swiss private-banking unit for 1.5 billion Swiss francs ($1.7 billion) to help build a global private-banking platform.

BTG will pay for BSI Group with 1.2 billion francs in cash and 300 million francs of shares in units listed in Sao Paulo, Generali said in a stock-exchange statement today. The Trieste, Italy-based company said it will book a loss of about 100 million euros ($136 million) for the transaction, while the deal will add about 9 percentage points to its Solvency 1 ratio.

The Brazilian lender controlled by billionaire Andre Esteves is expanding internationally as the country’s growth slows. It’s added units in Mexico and Colombia, and in January Esteves said he planned to open offices in Geneva, Houston and Singapore as the firm expanded in commodities. Last week, it agreed to acquire Global Atlantic Financial Group Ltd.’s reinsurance unit Ariel Re.

“This acquisition reflects our confidence in the tradition and strength in Switzerland as a global financial center,” Esteves, the bank’s chief executive officer, said in a statement. “It’s an opportunity to build one of the biggest global private-banking platforms.”

Photographer: Simon Dawson/Bloomberg

Assicurazioni Generali SpA Chief Executive Officer Mario Greco is selling BSI as part… Read More

BTG was unchanged at 34.15 reais at 10:31 a.m. in Sao Paulo. Generali reversed earlier gains, falling 0.1 percent to 15.38 euros in Milan, valuing the insurer at 24.1 billion euros.

Global Platform

The acquisition will almost double BTG’s assets under management to create a wealth- and asset-management business with more than $200 billion in assets, BTG said. The bank plans to keep the BSI brand for its global wealth-management platform.

“The acquisition is in line with BTG’s strategy to diversify revenue,” Ricardo Kim, an analyst at brokerage XP Investimentos CCTVM SA in Sao Paulo, said in a report today. He said the transaction was positive for BTG.

Brazil’s rising inflation and slowing growth has led to a drought in the nation’s initial public offerings, reducing investment banking revenue. BTG has been building a global commodities business since last year as part of its strategy to offset declining investment banking fees.

Brazil, which hosted this year’s World Cup, has expanded at an average annual pace of 2 percent since 2011, when President Dilma Rousseff took office, the slowest economic growth for a Brazilian administration in more than two decades. Economists expect the South American nation to expand 1.05 percent this year, according to a weekly survey published by the central bank today.

U.S. Fine

Proceeds from the sale, which is scheduled to be completed by the first half of next year, may be reduced by “any fine established pursuant to the U.S. Department of Justice’s tax amnesty program relating to Swiss financial banking institutions payable by BSI,” Generali said.

BSI is one of at least 36 Category 2 Swiss banks seeking to avoid prosecution for handling undeclared American money by joining the U.S. Justice Department’s voluntary disclosure program. The U.S. is scouring Switzerland for names of tax dodgers who used the world’s largest offshore haven to hide money from the Internal Revenue Service.

Under a program announced in August, about a third of Swiss banks with “reason to believe” they violated tax laws asked the Justice Department to forgo prosecution. In turn, banks must hand over data on undeclared accounts and pay penalties.

Revenue Goal

Generali CEO Mario Greco sold the unit to focus on the company’s main business, strengthen finances and boost profitability. The firm, which set a goal of 4 billion euros of revenue from asset sales by 2015, will have achieved 3.7 billion euros with the sale, Greco said in the statement.

“This sale completes the disposal process aimed at strengthening the capital base of the group, resolving a key issue for us, and allowing Generali to focus on driving forward with its core insurance business,” he said. “This result is a testament to our team’s ability and commitment to execute a complex transaction in a challenging environment.”

BSI Loss

BSI had a net loss of 722 million Swiss francs last year as it took writedowns faster than planned because of new regulations for accounting treatment of goodwill, the bank said in April.

Generali’s net income in the three months to March climbed to 660 million euros from 603 million euros a year earlier, the company said in May. The first-quarter pro-forma Solvency 1 ratio after the BSI sale will exceed the insurer’s 2015 target of 160 percent, it said today.

“Once the announced sale of BSI is concluded, Generali’s period of balance sheet repair will be complete,” Marcus Rivaldi, an analyst at Morgan Stanley, said in a report today. “Focus now turns to how earnings and dividends can be improved.”

 

Source: 14.07.2014 Bloomberg  by editor Elisa Martinuzzi at emartinuzzi@bloomberg.net

Filed under: Banking, Brazil, Colombia, Latin America, Mexico, News, Singapore, , , , , , , , , , ,

Avaloq Group and BIL announce plans for Business Process Outsourcing centre in Luxembourg

The Avaloq group and Banque Internationale à Luxembourg (BIL) intend to forge a new strategic partnership: The international provider of banking solutions and the bank are planning to join forces to establish the first independent provider of full Business Process Outsourcing (BPO) services in Luxembourg for the Benelux and the French market.

The bank and the international provider of banking solutions today announced that they are in advanced discussions for a joint project to establish, pending amongst other, the closing of the transaction and regulatory approval, the first independent provider of full Business Process Outsourcing (BPO) services in Luxembourg for private and universal banks in the target market Benelux and France. This follows BIL’s recent decision to choose the Avaloq Banking Suite as its new core banking system after a thorough selection process.

As Luxembourg’s oldest private bank, BIL has always played an active role in the development of Luxembourg’s economy and with this decision confirms its intention of actively contributing to the ongoing transformation of the local financial industry. Avaloq, whose presence in Luxembourg goes back to 2007, has always considered Luxembourg as a key market in its strategy. Luxembourg was the first country outside of Switzerland Avaloq set foot in. Today, Avaloq counts 11 customers in Luxembourg that are either using or currently implementing the Avaloq Banking Suite as their comprehensive banking solution.

The goal of the planned strategic partnership is to offer local and foreign private and universal banks a solution to standardise and automate back office processes and to have them operated by a seasoned specialist. As an industry leader in this area, Avaloq understands the importance of fully industrialising back office processes while at the same time driving innovation and differentiation in the advisory area. This enables banks to focus entirely on their front office activities and thus to make a difference in client interaction. The BPO model also serves as the ideal solution for foreign banks wishing to use Luxembourg as an entry point into the European financial market.

The Avaloq group has already successfully implemented this independent BPO model in Switzerland and Germany. BIL and Avaloq are now planning to join forces in order to adapt the business model to the market specific requirements of Benelux and France. Furthermore, Avaloq is currently in the process of building up an international network of BPO centres, which the new BPO centre in Luxembourg would be part of. Further announcements will be made later this year.

Source: Avaloq 05.06.2014

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

Derivatives: Struggling Into the New Era – Outlook 2013/14

The past few years have been challenging for the global economy but it seems as though the derivatives industry sustained more than its share of insults and injuries over the past year or so. Still reeling from the trauma of MF Global in October of 2011, exchange-traded volume went into its first nosedive in decades.

Urgent regulatory requirements added intense cost and time pressures to company staffs that were already stretched. A non-clearing FCM, Peregrine Financial, collapsed in scandal. OTC derivatives struggled with complex regulatory mandates and weak volume.

Perhaps the only positive for the year was that mergers and acquisitions at both the macro and micro level imply that innovation and creativity are still powerful industry drivers. That in turn suggests that the creative dynamism that has characterized the derivatives industry for so many years still has some innings to go.

Read the detailed report about Derivatives market outlook, challenges and issue of big deals, exchange mergers and new start ups, customer protection, Regulatory,Extraterritorial and Tax problems  and more. 

Source: WEF 25.04.2013 by Nicolas Ronalds

Filed under: Asia, Brazil, Exchanges, Risk Management, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Latin America: Investors News Letter 31 March 2013

Brazil

Brazil’s Mantiq To Raise Money Abroad For Infrastructure Fund
Mantiq, which was spun off from Banco Santander Brasil SA (BSBR, SANB4.BR) last year, currently manages three private equity funds with total investments of about 2.5 billion Brazilian reais ($1.27 billion). In addition to a fund that invests in the oil and gas industry supply chain, and another that invests in renewable energy and other environmentally sensitive technologies

Brazil to help banks bolster infrastructure financing-official
The Brazilian government is considering measures to help private banks finance the massive infrastructure projects that are key to reviving Latin America’s largest economy.

Strike Shuts Down 36 Brazilian Ports

Central America

Logistics and Transport: A Long Road to Travel in Central America

Why is it more expensive shipping tomatoes from San Jose, Costa Rica, to Managua in Nicaragua than it is to San Jose, California, which is 10 times the distance? According to Google, the distance between the Costa Rican capital and Managua is 430 kilometers, whereas 5,400 kilometers separate San Jose from the Californian city.

Barletta: 2013 should be a good year for logistics development
Panama is one of the rising stars of Latin America’s economy. The construction of large infrastructure projects, such as the $5.2 billion Panama Canal expansion and a $1.8 billion subway in the capital city, have boosted the country’s economy to 10.5% growth and reduced unemployment to 4.8% in 2012.

Jamaica ahead in race to be logistics hub of the Americas
The race to be the logistics hub of the Americas has already begun with the addition of Jamaica that has revealed its intention to position the island as the rival of Singapore. A similar situation is raking place with the Dominican Republic, while in Panama there is still a debate on the need for a long-term strategy that includes where to locate logistics parks.

Filed under: Banking, Brazil, Central America, Energy & Environment, Risk Management, , , , , , , , , , , ,

Avaloq the Swiss Wealth Management Solution provider opens office in Australia

The Avaloq Group, the international reference for integrated and comprehensive banking solutions, is pleased to announce the opening of its first branch office in Australia.

As part of its continuous internationalisation strategy and aim to extend its presence in the most demanding financial markets globally, Avaloq has opened an office in Australia end of last year. The expansion to Australia – a new continent for Avaloq – comes after the company successfully established local offices in various regions in recent years.

Avaloq signed its first customer on the Australian continent – one of the reasons why the company decided to further extend its international presence and open a branch in Sydney. The Australian market bears a great potential for wealth management platforms such as the Avaloq Banking System. The fully integrated solution offers the entire field of investment products and additionally covers local tax and superannuation requirements. Combined with a team of experts, equipped with substantial know-how and experience regarding the Australian financial market, Avaloq significantly improves its local position.

“Opening an office in Australia is yet another important step in our internationalisation strategy and an additional milestone in Avaloq’s remarkable company history. Building up a local presence in the most demanding financial centres worldwide ensures that we are close to the markets and companies we work with. This allows us to cater towards our client’s needs and requirements without having to work around different time zones”, says a delighted Francisco Fernandez, CEO Avaloq. “The Australian market has immense potential, with demand for wealth management platforms increasing. Being present in Australia is the logical move for the company”, Fernandez continues.

The new Avaloq branch in Australia will significantly profit from the vast experience of the regional headquarters in Singapore, which was established in 2007. The Singapore branch has seen strong expansion in recent years under the management of Martin Frick, Managing Director Asia Pacific.

Source: Avaloq, 12.02.2013

Filed under: Australia, Banking, Singapore, Wealth Management, , , , , , , ,

Latin America: Investor News Letter 19.October 2012

Mexico

Elektra to offer No-Fee Banking and Long Term loans to US low income population
Billionaire Ricardo Salinas said he wants to offer no-fee banking deposits and longer-term loans to low-income U.S. consumers, aiming to export his Mexico business model, successful in 8 Latin American countries to the world’s biggest economy.

Mexico’s market shines as reforms, confidence take hold
NYSE Technologies, Bolsa Mexicana and ATG build Mexican trading infrastructure
Slim-backed Mexican firm plans IPO, new cement company
Alsea to invest $110 million in Mexico, Argentina Starbucks cafes
Mexico passes law to combat cartel money laundering

Brazil

Itau Sinks as Rousseff Plan Hurts Bank Profits: Corporate Brazil

Brazil’s push to drive down consumer borrowing costs is eroding the value of its biggest banks.

Brazil wants to restrict strikes in public sector
Monsanto suspends collection of royalties in Brazil following state court ruling
Brazil M&A hits five-year low on turmoil, state intervention
Brazil and South Africa Form Partnership On Future Investment Promotion Initiatives
Brazil’s Water Sector Benefits From Investment Ahead of World Cup, Olympics

Latin America

Cencosud of Chile to Acquire Carrefour Colombia Division

Cencosud SA agreed to buy Carrefour SA’s Colombian unit for 2 billion euros ($2.6 billion) as it taps rising consumer spending in Latin America and the world’s second-largest retailer retreats from markets it can’t dominate.

Venezuela/Paraguay rift spoils Brazil’s plans for a ‘normal’ Mercosur summit
Singapore, the fastest growing market for Latin America
CAF Encourages Singapore to Invest in Latin America
Cuba Praises China-Latin America Ties
Latin America can produce double-digit investment returns over next decade
Arab and Latin American leaders agree to investment bank
LatAm’s Largest Solar Power Plant  in Peru receiving 40 MW of Solar PV Modules from China
Arab and LatAm leaders agree to investment bank
Peru central bank could allow more pension funds invested abroad
Latin American Ratings Strong Enough to Weather a Commodity-Cycle Downturn
Latin American gold rush brings riches, conflict
Latin lithium output mired in controversy

Source: Various 19.10.2012

Filed under: Argentina, Banking, Brazil, Chile, China, Colombia, Energy & Environment, Mexico, Peru, Singapore, Venezuela, , , , , , , , , , , , , , , , , , , , , , ,

Hong Kong and Singapore as Asia´s Financial Gateways

Celent predicts a paradigm shift around access to Asia. There is likely to be two gateways, providing access to different Asian regions, with Singapore emerging as the preferred gateway to Southeast Asia and Hong Kong becoming the gateway to Mainland China.

In a new report, the third of a series looking at the financial markets in Hong Kong and Singapore, Celent aims to provide a comparative analysis of Asia’s two main financial gateways, focusing particularly on derivatives. Asia’s Tale of Two Cities: Hong Kong and Singapore as Financial Gateways begins by noting that Western governments have emerged from the financial crisis in a weakened state, with economic prosperity blunted by high unemployment and an emerging debt crisis. The question is no longer when or if we need to enter the Asian markets, but how to best think about the issues of accessibility, entering the market, developing products, and forming strategic partnerships. The fundamental question that needs to be asked now is: “Where do we go from here, Hong Kong or Singapore?”

Although the HKEx and SGX may not be the biggest derivatives players in Asia-Pacific, they tend to be the most accessible for segments located outside the region. Taking advantage of their geographic location, political climate, and internal strengths, these city-states are poised to become hubs for trading of Asia’s regional products while also being easily accessed by US traders via retail trading accounts.

There are several factors that are likely to continue to drive growth in the derivatives market. These include:

• A relatively muted response to regulating over-the-counter markets as compared with the US and Europe. The type of products that led to the financial crisis in the West are not widely established throughout Asia, and as a result, the regulatory structure governing OTC markets are unlikely to change significantly.

• Continued desire to manage foreign exchange risk.

• Continued enhancement of processes of structuring derivatives risk management policies.

“We are seeing changes in relation to access to Asia. Hong Kong is no longer destined to become the sole hub to Southeast Asia,” says Alexander Camargo, Analyst and coauthor of the report. “Inherent strengths in Singapore are making it an extremely attractive financial gateway. Both English and Chinese are frequently spoken in Singapore, making it an ideal cross-roads for East and West. Furthermore, Singapore is viewed by most Asian countries as a neutral party and less politically tied to China than Hong Kong. This is likely to entice Indian investors and even Japanese and Korean investors to Singapore’s shores.”

However, this does not mean that Hong Kong will recede as a major financial center in Asia. Hong Kong residents are often fluent in both English and Chinese; contract laws are strong; and there remain strong historical ties to the West. As a Special Administrative Region of the People’s Republic of China, Hong Kong has stronger political ties to China. Hong Kong has also been busy integrating its financial markets with mainland China. These factors make it likely that Hong Kong will become a key gateway to mainland China.

This report begins with an overview of each country’s financial infrastructure and regulations, providing an introduction to the countries’ various demand market segments, followed by a look at the main exchanges, HKEx and SGX. A summary of HKEx and SGX focuses on derivatives trading, providing a brief description of products offered, market access, alliances, and clearing on the exchanges. The report then looks at each country’s fixed income markets, OTC derivatives, and FX markets. It concludes with a discussion of market supremacy and also the countries’ ongoing efforts to improve market structure and access.

Source: Bobsguide, 10.02.2012

Filed under: Asia, China, Exchanges, Hong Kong, Indonesia, Japan, Korea, Malaysia, News, Singapore, Thailand, Vietnam, , , , , , , , , , , , , ,

Singapore: SGX introduces Investor Education Portal

Singapore Exchange (SGX) is introducing the ‘My Gateway’ portal to meet increasing investor interest for more investment knowledge and education.

Located at www.sgx.com/mygateway, the portal provides one-stop shop access to market updates, video clips on investment products, information on seminars or courses which investors can sign up for, and tools like investment or profit and loss calculators.

The portal launch comes amid increasing interest among individuals in investment information and education. In 2011, over 7,800 participants attended the more than 150 investor education activities organised by SGX Academy. In the second half of 2011, participation at investment seminars and professional courses grew 31% and 83% respectively from the first half of the year.

“We recognize that investors are hungry for information on investments and are looking for flexibility in learning. We therefore want to encourage investors to take advantage of the newly launched portal on SGX website to learn about investing at their own time and pace,” said Mr Chew Sutat, SGX Executive Vice President, who oversees the Academy.

“The high participation rate in these education activities reflects a strong desire by investors to be proactive in their investments. We believe the new portal will complement this desire and cater to the continuing education needs of investors,” said Mr Chew.

“Investors should take responsibility of their investments. They should commit to equip themselves with the right knowledge to know – firstly, their risk appetites; secondly, the available products and finally, what investment strategies to adopt. I am encouraged that SGX has launched this self-help portal for investors,” said Mr David Gerald, President of Securities Investors Association (Singapore).

More information on SGX Academy seminars and courses can be found at www.sgx.com/academy.

Source: MondoVisione, 10.01.2012

Filed under: Asia, Exchanges, Singapore, , , , , , ,

Avaloq acquires a majority stake in B-Source from BSI

The Avaloq group, the reference for integrated and comprehensive banking solutions, has acquired a majority stake in B-Source AG, a leading banking business process outsourcer (BPO) in Switzerland. BSI, part of the Generali Group and original founders of B-Source, will remain a minority shareholder and an important customer of B-Source. BSI thereby ensures a forward-looking, growth-oriented ownership structure for its banking BPO subsidiary. The acquisition of B-Source means that Avaloq group extends its value chain and become the largest independent provider of comprehensive solutions for the execution of banking business. B-Source remains a legally independent entity forming part of the Avaloq group and will continue to operate under its own name. The Avaloq group will retain B-Source’s existing locations in Ticino, Zurich, Lucerne, Romandie as well as in other countries. The acquisition will not result in job losses.

Avaloq and B-Source see this move as a logical extension of the successful and long-standing cooperation between the two banking specialists. As a result of the acquisition, the Avaloq group offering will now extend beyond banking technology and consultancy services to include data centre services, application management services, and will be able to outsource banks’ entire back-office and IT operations. The group now employs more than 1,200 staff, generating an annual turnover of CHF 360 million (Swiss Francs) (2011E) and has customers in more than 20 countries. The acquisition of B-Source will not result in any job losses. The Avaloq group will retain both companies’ existing head offices and locations in Switzerland as well as in other countries. It is committed to Switzerland as a financial centre and centre of expertise, and plans to further grow at its Swiss locations.

Francisco Fernandez, Member of the Board of Directors of B-Source and CEO of Avaloq Group AG, says: “Acquiring the majority stake in B-Source makes the Avaloq group the leading independent provider of modular and fully integrated solutions for the execution of banking business. This applies to both large and small retail, wealth management and universal banks in Switzerland and around the world. Joining forces with B-Source will enable us to take further steps to address the growing complexity in operational, compliance, reporting and IT management. It will also enable our customers to wholly concentrate on providing excellent service to their clients, which ultimately sets them apart, allowing them to grow and become more profitable.”

B-Source will remain a legally independent entity forming part of the Avaloq group, and it will continue to operate under its own name. BSI AG will retain 49 percent of B-Source and will remain an important customer for
B-Source. The parties have agreed to keep the purchase price confidential. Avaloq and B-Source will continue to work with an extensive network of domestic and international technology, distribution and implementation partners, which will be expanded further following the acquisition.

Dr Alfredo Gysi (BSI CEO) is to remain Chairman of the Board of Directors of B-Source, and Gianni Aprile (Deputy CEO of BSI) will remain on the B-Source Board of Directors. They will be joined by new appointees, Dr Didier Sangiorgio (Chairman of Avaloq Group AG), Philipp E. Achermann (Member of the Board of Directors Avaloq Group AG) and Francisco Fernandez (CEO of Avaloq). The general management of B-Source is unchanged, consisting of CEO Markus Gröninger, Andrea Bosetti, Andrea Frei, Joseph M. Kaister, Rainer Link, Matteo Marini, Frank Müller Erkelenz and Benjamin Stäheli. The Avaloq Executive Board, consisting of Francisco Fernandez (CEO), Enrico Ardielli, Adrian Bult, Klaus Rausch, Mathias Schütz and Ronald Strässler, remains also unchanged.

Dr Alfredo Gysi, Chairman of the Board of Directors of B-Source and CEO of BSI, says: “As the founder and very first customer of B-Source, we have successfully grown and developed the company to become one of Switzerland’s leading providers of BPO services. Our objective was to secure an ownership structure for B-Source that would enable it to achieve sustained growth in an attractive market. The acquisition of a majority stake by our strong technology partner Avaloq will allow B-Source to seize even more opportunities in the BPO market. This strategic move will give BSI the freedom to concentrate more heavily on its core competences and enable it to benefit from improved standards of performance and quality and take advantage of a cost efficient structure.”

Markus Gröninger, B-Source CEO, says: “Merging Avaloq and B-Source will create benefits for customers that are demanding more integrated, high-performing IT and BPO solutions. The business rationale is undeniable and the new ownership of B-Source will accelerate growth in Switzerland and beyond.”
The Avaloq subsidiary, B-Source, already settles almost all domestic and international transactions for BSI in Switzerland, Singapore, Luxembourg, Nassau and Monaco. In Switzerland, Reichmuth & Co Privatbankiers, NBAD Private Bank (Suisse) SA and QNB Banque Privée (Suisse) SA, all use the cutting-edge B-Source Master “powered by Avaloq”.

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

NYSE Euronext Accelerates Growth in Asia with Strategic Acquisition of Metabit, a Leading Provider of Market Access Products

– Strategically complements NYSE Technologies’ product portfolio and Asian offerings

– Addresses growing customer interest and expanding Asian financial marketplace

– In-line with NYSE Technologies’ strategy of building a global liquidity network

 New York and Tokyo – August 1, 2011 – NYSE Euronext (NYX) announced today it has entered into a definitive agreement to acquire Metabit, a leading Tokyo-based provider of high performance market access products throughout Japan and Asia. Metabit will operate as a product line within the NYSE Technologies portfolio. The transaction is expected to close in third quarter of 2011. Terms of the acquisition were not disclosed.

Skilled with in-depth experience and understanding of financial markets in Asia, Metabit specializes in streamlined, low-latency technology solutions that enable industry-leading access to financial markets across Asia. Metabit’s products connect buy-side order flow with sell-side exchange participants and are designed exclusively for low latency direct market access (DMA) and exchange connectivity to markets through-out Asia. The company is headquartered in Tokyo, with offices in Australia and Hong Kong. Metabit has built a trading community of more than 140 trading firms in Asia.

“Metabit’s products are built in Asia for Asia, and this combination fits our strategy, our connectivity business and our customer interests,” said Stanley Young, CEO of NYSE Technologies. “Metabit has a highly experienced and respected management team, and we recognize and value the success Metabit has had in Asia, especially in Japan. We will continue the further development of this local focus while also maximizing the value of the NYSE Euronext brand and relationships.”

Mr. Young continued: “Furthermore, Japan and Asia are priorities for NYSE Euronext and we believe this is absolutely the right time to further invest in the region. We fully expect this transaction to accelerate our efforts as a leading technology provider across the Asia-Pacific region. We look forward to welcoming Metabit and its customers to NYSE Euronext, and to delivering the benefits of Metabit to our customer community.”

Daniel Burgin, CEO of Metabit, said: “Our combination with NYSE Technologies will be highly beneficial to delivering innovative solutions to our customers and to accelerate achieving our long-term business goals. We remain committed to our local business focus and service quality in Japan and throughout Asia, whilst being strengthened by NYSE Technologies’ product suite that is highly synergetic to our local solutions. The people and products of our combined companies will provide significant expertise and scale to NYSE Technologies’ business in the region. Joining forces represents a truly exceptional opportunity to build on our local success in order to increase our value proposition to our Japan and Asia customer base. We now have the opportunity to leverage our assets with NYSE Technologies and move to the next level. For the benefit of Asia-based customers, we will now expand our reach and capabilities globally.”

 Metabit’s Asia franchise has seen excellent growth as a result of a persistent product and client strategy and investments into Asia. Today, Metabit covers all DMA sectors outside Japan, ranging from China (“B” shares), India, Hong Kong, Korea, Singapore, Taiwan, Thailand, Philippines, Malaysia, Indonesia, Pakistan, Australia and New Zealand. Metabit’s products, being built in Asia for Asia, focus to connect the local broker community in each country, in combination with the traditional group of global trading firms. Metabit will continue to resell and provide support to users of CameronFIX as they have since 2002.

 Upon closing, Mr. Burgin will head the NYSE Technologies Asia business and report to Mr. Young. Peter Tierney, Managing Director of NYSE Technologies will become the Chief Operating Officer of the combined business in Asia, and together they will lead the business operations.

Source; NYSE Tech, 01.08.2011

Filed under: Asia, Australia, China, FIX Connectivity, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, News, Trading Technology, , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Asia Trader & Investor Conference, Singapore 07-08 May 2011

ATIC @Singapore 2011 will feature more than 40 seminars conducted by international and local gurus and experts.  The Asian Trader and Investment Convention – Singapore
Covering topics like:

Futures | Equities | Options | ETF | CFD | Commodities | FOREX | Warrants | Alternative Investment | Property | Insurance | Managed Funds

Event Highlights

  • First in bringing breakthrough and new methods of trading
  • Over 50 investment educational seminars
  • A Specialised Panel of top analysts who will conduct real-time analyses of the same stock
  • Special Trading Focus Workshops on Stocks, Futures, Commodities, Gold, ETFs, Options and Warrants
  • Stock Analysis on Regional Markets by International Traders
  • Investor Clinics that help them improve trading
  • Investment Network Platform with different market segment experts
  • Property Investment Showcase – with property investment education and special panel discussion on Property vs Stock Investments
  • The largest Finance and Investment Book fair

First launched in 2006, Asia Trader and Investor Convention (ATIC) event has travelled to 7 Asian Cities, i.e., Singapore, Kuala Lumpur, Bangkok, Ho Chi Minh City, Mumbai, Shenzhen and Tokyo. With participation by over 300 financial services companies, including securities exchanges, retail and consumer banks, securities brokerage firms, asset/fund management firms, listed companies and other financial services providers, ATIC events have attracted over 100,000 active traders and serious investors across Asia.

Source: The ATIC, 05.05.2011

Filed under: Asia, China, Events, Exchanges, Indonesia, Japan, Malaysia, News, Singapore, Vietnam, , , , , , , , , , , , , , , , , , , , , ,

Metabit Expands Asian Trade Connectivity

Tokyo/Hong Kong, 29 March 2011: In the past year, Tokyo-based Metabit has concentrated on building its connectivity across Asia.  The company aims to be the local face of execution destinations in Asia and over the past eight months, it has added an extra 13 domestic DMA destinations, expanding domestic and cross-border access to Asian markets.

“Metabit is at the heart of  connectivity in Asia” comments Daniel Burgin, CEO of Metabit, “not just for providing access to Asia for global players, but also in particular for the local and domestic  industry in this region.”

“For example, in India we have 20 execution destinations of which 10 are domestic Indian brokers.  We are similarly successful with increased connectivity in other countries such as Korea and Taiwan.”

Overall, Metabit’s trading access has been extended to many markets ranging from Indonesia to Pakistan and Mainland China to Australia.  The company now has access to over 250 execution destinations, across all active DMA markets in Asia, including Japan.

“We want to maximise connectivity to and within Asia for our client base, who can directly access all execution destinations across the major and emerging markets in Asia either through Metabit’s intuitive XiliX trading platform, or through our MLH via a single FIX connection.”

Burgin adds a final comment, “Situated where we are in Tokyo, with offices in Hong Kong, Dalian and Sydney, we understand the needs of Asia market players, whether they want to trade globally or locally. You could say the mindset of Asia is in our blood – we think Asia, so our clients can trade Asia.”

About Metabit

Uniquely placed in Asia, with global experience and a real knowledge of Asian markets, Metabit provides the technology and support to help clients trade and connect effortlessly and efficiently.  The company delivers an intuitive trading platform that encompasses a well-established trading community and unrivalled exchange connectivity solutions.

Metabit provides ultra low latency DMA trading solutions for Asian markets, serving buy side and sell side clients.  It specialises in comprehensive compliance controls, whilst reducing transaction times and facilitating trading opportunities across all major markets across 14 Asian countries, including Japan.

Metabit’s flagship solutions are XiliX intuitive buy side trading platform and MLH a vendor neutral Market Liquidity Hub.  Alpha provides ultra-low latency exchange connectivity and Exsim simulates Asian and Japanese exchanges.  All Metabit’s products are powered by the CameronFIX engine.

Source: Metabit, 29.03.2011

Filed under: Asia, Australia, China, FIX Connectivity, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, News, Singapore, Thailand, Trading Technology, , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Singapore-Australia exchange tie up threatens Tokyo; Controversy Grows

Japan’s top exchange will seek its own alliances if a planned multi-billion dollar merger of the Singapore and Sydney stock exchanges goes ahead, the bourse’s head said in a report Wednesday.

Atsushi Saito, chief executive of the Tokyo Stock Exchange, told the Financial Times that if SGX’s 8.2 billion dollar offer for ASX went ahead, it would be not be “a good story” for Tokyo.

“If Japan becomes isolated on the international stage — that is not good,” he said. “There are many options. There could be a combination of TSE and others on an international basis.”

Saito’s remarks illustrate how the proposed offer by Singapore’s SGX for ASX has ruffled the region.

“The consensus (among officials at Asian exchanges before the proposed deal was announced) was that such a thing would be impossible in Asia” due to the differences in culture and sense of values, Saito told the newspaper of the proposed deal.

Saito added that if the deal were to go ahead, it could result in a loss for the TSE, which is SGX’s second largest shareholder with 4.9 per cent, the Financial Times said.

“Our shareholdings will be diluted, with our stake falling to about 3.1 per cent. It’s possible we’ll have a loss of hundreds of millions of yen,” he said.

The proposed merger aims to create the world’s fifth biggest exchange with a market capitalisation of about 12.3 billion US dollars, although it first needs to pass regulators and a growing political backlash in Australia.

Analysts say sticking points may include the Singapore government’s large stake in the SGX, which could raise sovereign ownership concerns, and the board’s composition with 11 Singapore representatives and four from Australia.

Source: AFP, 27.10.2010

Controversy grows over SGX’s takeover bid for ASX

The Singapore Exchange’s S$10.7 billion takeover bid for Australia’s ASX Limited faces a difficult road ahead amid political backlash in Australia and shareholder reservations over the deal.

For the transaction to push through, the Australian parliament, currently controlled by a coalition led by the ruling Labour party, would need to lift the 15 percent ownership cap on the ASX bourse. The Australian Treasury could grant a waiver, but the Business Times reports that this could be stymied if any party demands a vote.

Bob Brown of the Greens Party, a key Labour ally, said he was not supportive of the deal given Singapore’s human rights record and the city-state’s execution of an Australian drug smuggler in 2005.

“This is a state that tramples all over freedom of speech, democracy, the rights of oppositions, the ability for public discourse,” he was quoted in a report by the Associated Press. A few other lawmakers also indicated they were inclined to oppose the takeover.

Aside from regulatory approvals, the merger of the two exchanges will also be subject to shareholders’ approvals. But, already, one SGX shareholder has expressed a negative view over the issue.

Under the deal, SGX will issue new shares and pay ASX shareholders a combination of A$22 or S$28.04 in cash and 3.472 new ordinary SGX shares for each existing ASX ordinary share or equivalent to A$48 per share.

Atsushi Saito, chief executive of the Tokyo Stock Exchange (TSE), was quoted by the Financial Times as saying that the transaction could result in a loss for the Japanese exchange, which is SGX’s second largest shareholder with a 4.9 percent stake. He told the UK paper that if the deal were to push through it would not be “a good story” for Tokyo.

Some analysts said the planned acquisition looked expensive. Gabriel Yap, executive chairman of investment firm GCP Global, said the price of A$48 per share “is too high” as it represents 25 times price-to-earnings ratio while the estimated cost synergies and savings at 20% is higher than that achieved in other mergers and takeovers of other exchanges before.

From the point of view of ASX shareholders, “Christmas has come early,” said Yap.

The SGX-ASX deal aims to create the fifth-largest exchange in the world with a market capitalisation of more than US$12.3 billion and to capitalise on opportunities for growth in Asia-Pacific.The press statement on the proposed merger enumerates other benefits.

Source: Fit To Post Singapore, 27.10.2010

Filed under: Australia, Exchanges, Japan, Singapore, , , , , , ,

SMX To List TOCOM Products

Singapore Mercantile Exchange (SMX), the first pan-Asian multi-product commodity and currency derivatives exchange, and the Tokyo Commodity Exchange, Inc. (TOCOM), Japan’s leading commodity futures exchange, today announced that they have signed a licensing agreement for SMX to list Contracts* on TOCOM products.

Building upon the Memorandum of Understanding (MoU) signed on 23 April 2010 to explore mutually beneficial partnerships, senior officials from both exchanges signed a licensing agreement which would see the listing of several SMX TOCOM Contracts for products already being traded on TOCOM. These include crude oil, gasoline, kerosene and gas oil. The agreement does not rule out the possibility of cross-listing wherein TOCOM might also list SMX products.

Agreement terms include the license for SMX to use TOCOM prices as the last settlement price, delivery price, reference price and daily settlement price and/or final settlement price for SMX TOCOM Contracts.

Mr. Thomas McMahon, Chief Executive Officer of SMX, said: “This agreement is exciting for us for several reasons. Aside from augmenting our initial MoU and being able to roll-out contracts the markets are already familiar with, our foremost aim to develop a credible pan-Asian platform is being achieved at good speed. We are encouraged by TOCOM’s enthusiasm and foresight for a united Asian derivatives marketplace, and will be announcing more of such developments in the coming months. We must embrace exchange partnerships as crucial steps to reducing fragmentation of derivatives trading during Asian business hours.”

Mr. Tadashi Ezaki, President and Chief Executive Officer of TOCOM, said: “SMX is the up-and-coming derivatives exchange in Asia, which commenced trading in August this year and grows rapidly with an increasing range of listed products. We expect that licensing SMX to use TOCOM prices for their new products to be listed shall help increase arbitrage between TOCOM and SMX increase, and accordingly enhance the convenience of the markets. We continue to work together with SMX to further develop derivatives trading in Asia.”

The listed commodities currently trading on TOCOM include futures and options contracts for gold, and futures contracts for silver, platinum, palladium, gasoline, kerosene, gas oil, crude oil, rubber and Nikkei-TOCOM Commodity Index. SMX launched live trading on 31 August 2010 with four products consisting of Futures Contracts on crude oil benchmarks Brent Crude Oil priced in Euros and West Texas Intermediate Crude Oil, Gold with physical delivery-based settlement and Euro-US Dollar Currency Futures.

In August 2010, market leaders in low latency services in Japan and Singapore – KVH Co., Ltd. (KVH) and Singapore Telecommunications (SingTel) respectively announced provision of KVH-SingTel?s low latency network solutions to market participants, enabling both exchanges to facilitate an ultra low latency and fully redundant network service between Japan and Singapore.

* Subject to regulatory approval by the Monetary Authority of Singapore (MAS)

Source:MondoVisione 15.10.2010

 

Filed under: Exchanges, Japan, News, Singapore, , , , , , , , , , , ,

RTS Offers Access to New Trading Platform for Pan-Asian Market on Singapore Mercantile Exchange

SMX Launch Further Builds on RTS Low Latency Solutions in Asia

RTS Realtime Systems Group, a leading global trading solutions provider, announced today that the firm will provide connectivity and low latency access to the Singapore Mercantile Exchange (SMX) from its first day of trading, which will be 31 August 2010.

The new pan-Asian commodity and currency derivatives exchange will launch using a state-of-the-art global futures and options trading platform for products which include precious metals, base metals, agricultural commodities, energy, currencies and commodity indices.

Leveraging on its parent conglomerate Financial Technologies (India) Limited, who has designed and provided the end-to-end technology solution, the Exchange provides an application programming interface (API) to enable global independent software vendor (ISV) integration and thus facilitate a cross section of trading members, institutions and other financial market participants to trade on the Exchange. Members also have the option to write their own APIs for connectivity. Financial Technologies (India) Limited’s highly robust and scalable trading technology gives SMX the agility and adaptability which ensures its edge in the financial markets.

RTS recently announced the global launch of a first-of-its-kind trading solution combining the advantages of “point-and-click” and algorithmic trading. Called RTD Tango Trader, it is designed to leverage firms’ existing infrastructure and enable more brokers, traders and clients to benefit from customized algorithms. The firm’s high performance solutions are used by leading financial firms to trade across asset classes on 120+ exchanges and execution venues globally, including a wide range of major Asian exchanges.

Alex Lamb, RTS Executive Board Member, said: “We are pleased to offer access from day one to this truly pan-Asian commodity and currency derivatives exchange for our clients in the region and across the world, particularly given the tremendous interest they’ve already expressed in the opportunity. The breadth of products will create new avenues for arbitrage and effective risk management.”

Thomas J. McMahon, Chief Executive Officer of SMX, said: “As we look forward to attracting new product listings from around the world and Asia, we are very pleased to welcome trading firms globally who use the advanced technology and infrastructure of RTS which brings in a number of important algorithmic traders to SMX. Our global trading venue is well positioned to serve as a gateway for commodities in Asia, synchronizing derivatives and physical trading in commodities within the Asian time zone.”

Source: RTS, 19.08.2010

Filed under: Exchanges, News, Singapore, Trading Technology, , , , , , , , , , ,

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