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  • Global Financial Centres Index 12 Published Today

    Date 24/09/2012

    Major developments since GFCI 11 was published in March 2012:

    • Only 49% of respondents based in London now feel that London will become more competitive over the next three years. This compares with 63% of respondents based elsewhere in Europe, 73% of respondents based in Asia and 77% of respondents based in offshore centres.

    • The Euro crisis continues to be reflected in the GFCI ratings of the financial centres within the weaker Euro economies. Madrid, Lisbon, Dublin and Athens were all down in GFCI 10 and GFCI 11. These declines have continued in GFCI 12. Frankfurt and Paris both rose slightly in GFCI 11 but GFCI 12 sees a reversal of these gains. There have however, been some improvements in Europe. Geneva has now re-entered the GFCI top ten.

    • The past trend of large rises in the ratings of Asia/Pacific centres appears to have ended. Hong Kong, Singapore, Tokyo, Shanghai, Beijing, Taipei and Shenzhen all decline in GFCI 12. Centres on the mainland of China have seen significant declines with Shanghai the largest faller in the index, down 31 points (following a decline of 37 points in GFCI 11). Beijing is down 18 points. Hong Kong sees a 21 point drop (following a decline of 16 points in GFCI 11). GFCI respondents believe that the Asian centres will continue to become more significant in the medium to long term. However, some respondents question whether financial centres on mainland China will be able to continue their growth without relaxations in currency controls.

    • The offshore centres, having suffered significant reputational damage in the past four years, regained ground in GFCI 10 and GFCI 11. GFCI 12 shows a mixed picture with no significant moves (apart from the Bahamas which gained 22 points). Jersey and Guernsey remain the leading offshore centres.

    • Progress is being shown in the Middle East with Qatar, Dubai, Abu Dhabi and Riyadh all seeing rises in both ratings and ranks in GFCI 12.

    • The picture in the Americas is mixed. The main centres in the USA are down in GFCI 12 with New York, Chicago, Boston, San Francisco and Washington DC all seeing falls in the ratings. In Canada, Toronto sees a very small decline whilst Montreal, Calgary and Vancouver have all risen. In South America Sao Paulo shows the largest rise of the three centres.

  • EDI'S Corporate Actions Service Adopts Bloomberg Open Symbology - Free-use Data Tagging System Reduces Costs and Risks in Trading

    Date 24/09/2012

    Exchange Data International (EDI), a premier back office financial data provider, today announced it adopted Bloomberg's Global Securities Identifiers (‘BBGID’) to name and track all equities securities in its Worldwide Corporate Actions service.

  • EEX: Exchange Council Adopts Resolution To Launch Day Futures - Power Futures Product Range To Be Expanded With Day And Weekend Futures – Presentation Of The Planned Product Portfolio For Green Power Certificates

    Date 24/09/2012

    At its meeting in Paris on 19 September 2012, the Exchange Council of the European Energy Exchange (EEX) paved the way for the new Day Futures on power. With this product, the exchange responds to the lasting trend towards trading in short-term products on the Derivatives Market which is observed, in particular, against the background of marketing of renewable energies. The Exchange Council approved the expansion of the product range with Day and Weekend Futures for the base and peak load delivery of power for Germany and Austria. These maturities will supplement the existing Phelix Futures with a weekly, monthly, quarterly and yearly delivery period. Through introducing the new products, EEX closes the gap between
    the day-ahead auction on the Power Spot Market and the Week Futures on the Derivatives Market.

  • Equinix Opens Third Phase Of London Data Center - 4,000 Square Meter Expansion Offers Emergency Financial Trading Capabilities Via Business Continuity Trading Room For Financial Services Customers

    Date 24/09/2012

    Equinix Inc. (Nasdaq: EQIX), Equinix, the global interconnection and data center company, has opened the third phase of its London LD5 International Business ExchangeTM (IBX®) data center. Driven by demand from customers across the enterprise, cloud, network, digital media and finance sectors, the build-out adds 4,000 square meters of data center space with capacity for 1,400 cabinets. The expansion also features 130 dedicated Business Continuity Trading desks, providing comprehensive connectivity-rich emergency trading capabilities for financial services firms. The LD5 expansion represents a strategic addition to the Platform Equinix™ global footprint of IBX data centers, helping businesses to rapidly deploy on a scalable platform while maintaining performance, reliability, security and network choice.

  • Warsaw Stock Exchange Selects SunGard’s Protegent And Valdi For Market Abuse Surveillance

    Date 24/09/2012

    The Warsaw Stock Exchange (WSE), the securities and commodities exchange mandated to organize and manage the trading of securities in Poland, has selected SunGard’s Protegent compliance solution and Valdi electronic trading tools for real-time surveillance and monitoring of trading activity on the exchange. Protegent and Valdi will help enhance the WSE’s ability to supervise members connected to its trading platforms and help improve its capability to manage market-making activity as well as detect potential errant and suspicious trading patterns.

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