News Centre

Thomson Reuters, National Venture Capital Association: Venture-Backed IPO Exit Activity More Than Doubles In Q2’2013 With Strongest Quarter For Biotech Offerings Since 2000- M&A Volume Declines To Lowest Quarterly Level Since 2009

Date 01/07/2013

Twenty-one venture-backed initial public offerings (IPOs) raised $2.2 billion during the second quarter of 2013, more than double the volume and dollars compared to the first quarter of this year, according to the Exit Poll report by Thomson Reuters and the National Venture Capital Association (NVCA). This quarter also saw the highest number of biotechnology venture-backed IPOs since the third quarter of 2000.  For the second quarter of 2013, 83 venture-backed M&A deals were reported, 14 which had an aggregate deal value of $2.4 billion.  This represents a 59 percent decrease in volume from the second quarter of 2012.

Joaquín Almunia, Vice President Of The European Commission Responsible For Competition Policy - Statement On CDS (Credit Default Swaps) Investigation

Date 01/07/2013

Today the Commission is sending its objections to some of the world’s largest investment banks as well as two bodies that they control, Markit and the International Swaps and Derivatives Associations (ISDA). The sending of this statement of objections is a key step in our ongoing antitrust investigation into credit default swaps, which we opened in April 2011.

Statistics From NASDAQ OMX Nordic Exchange June 2013 - Summary

Date 01/07/2013

Share Trading

The value of average daily share trading amounted to EUR 2.3 billion, compared to EUR 2.1 billion during the past 12-month period. The average number of trades per trading day was 324,201, compared to 301,016 during the past 12-month period. The total market cap of listed companies at NASDAQ OMX Nordic Exchange amounted to EUR 792 billion, compared to EUR 685 billion in June 2012.

Andrew Sentance: Mark Carney's Biggest Challenge Will Be To Wean The Country Off QE

Date 01/07/2013

Former Monetary Policy Committee member Andrew Sentance believes new Bank of England Governor Mark Carney’s biggest challenge will be to wean the UK off quantitative easing and low interest rates without causing panic in the markets.

NASDAQ OMX Completes Acquisition Of eSpeed Platform For Trading Of Benchmark U.S. Treasuries - Independent Electronic Trading Platform Meets Customer Demand For Trading In Largest, Most Liquid Market In The World - Accretive To EPS Within The First 12 Months, Excluding Transaction-Related Costs

Date 01/07/2013

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the completion of its acquisition of the eSpeed platform, which operates a fully executable central limit order book for electronic trading in benchmark U.S. Treasuries, one of the largest and most liquid cash markets in the world. The eSpeed platform will be integrated into the NASDAQ OMX Transaction Services business to better serve dealers in the over-the-counter market and meet the growing demand for diverse instruments on an independent market. U.S. Treasury data products will be integrated into NASDAQ OMX Global Information Services, further enhancing NASDAQ OMX's rich data product offering.

NASDAQ OMX Nordic And Baltic Markets: Trading Statistics June 2013

Date 01/07/2013

NASDAQ OMX today publishes monthly trade statistics for the Nordic and Baltic markets. Below follows a summary of the statistics for June 2013.

BME: The Spanish Stock Exchange Traded €58.5 Billion In June, Up 21.5% From May

Date 01/07/2013

• The number of trades in June were 3.44 million, up 8.2% from May
• In June trading on the Derivatives market came in at 6.29 million contracts, up 86% from May
• ETF trading in June was €277.4 million,  up 20.6% year on year
• Trading on the Corporate Debt market in the first half totalled €755.6 billion and on SEND (Retail Fixed Income platform) it increased more than 4-fold

UK’s Financial Conduct Authority Holds Key Conference On Financial Crime - Review Announced Into How UK Banks Control Money Laundering, Terrorist Financing And Sanctions Risks In Trade Finance

Date 01/07/2013

Opening the UK regulator’s Financial Crime Conference today, Martin Wheatley, Chief Executive of the Financial Conduct Authority (the FCA) today announced, “The FCA will do all it can to make Britain a hostile place for criminals to profit from their crimes.”

Antitrust: European Commission Sends Statement Of Objections To 13 Investment Banks, ISDA And Markit In Credit Default Swaps Investigation – Frequently Asked Questions

Date 01/07/2013

What is a Credit Default Swap (CDS)?

A credit default swap ("CDS") is a derivative contract designed to transfer the credit risk (i.e. the risk of default), linked to a debt obligation referenced in the contract. CDS are used by investors for hedging and investing. As a hedge a CDS provides protection against the credit risk arising from holding debt instruments. As an investment vehicle CDS can be used to express a view on the future development of the debt issuer's creditworthiness and earn a profit if the view is correct. CDS are by far the most important type of credit derivatives. Other less frequently used credit derivatives are options and forwards.

What is the size of the CDS market?

In 2013, there were almost 2 million active CDS contracts world-wide, with more than € 10 trillion gross notional amount (source: DTCC). The notional amount is the amount of debt the CDS contract is written on. The actual payment flows from CDS contracts are considerably smaller than the notional amounts. The payments for offering or obtaining credit protection are expressed as a percentage of the notional amount and usually quoted in basis points, i.e. in one-hundredths of a percentage point.

ESMA Review Finds Good Compliance With EU Market Abuse Rules

Date 01/07/2013

The European Securities and Markets Authority (ESMA) has published a peer review of the supervisory practices EEA national competent authorities (NCAs) apply in enforcing the requirements of the Market Abuse Directive (MAD).  The Directive deals with the prevention of the dissemination of misleading information, the breach of reporting obligations and market abuse.