The European Securities and Markets Authority (ESMA) will hold an open hearing on its Consultation Paper published on 30 March 2016 on draft Guidelines to be issued by ESMA under the remit of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (MAR).
read more...ESMA Announces Open Hearing On MAR Guidelines
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EEX: Schweizerische Bundesbahnen SBB Discloses Insider Information On Power Generation And Power Storage
EEX welcomes Schweizerische Bundesbahnen SBB as 8th data provider in Switzerland. Schweizerische Bundesbahnen SBB will begin to provide generation data to the platform “Transparency in Energy Markets“ on 20/04/2016.
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CFTC And Three Canadian Authorities Sign Counterparts To MOU To Enhance Supervision Of Cross-Border Regulated Entities
The U.S. Commodity Futures Trading Commission (CFTC) announced today that CFTC Chairman Timothy Massad signed Counterparts with authorities in three Canadian provinces to a 2014 Memorandum of Understanding (MOU) regarding cooperation and the exchange of information in the supervision and oversight of regulated entities that operate on a cross-border basis in the United States and in Canada.
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FINRA Securities Helpline For Seniors Marks First Year, With $1.3 Million Returned To Investors - Through FINRA Oversight, Seniors Have Obtained Voluntary Reimbursements From Firms
The Financial Industry Regulatory Authority (FINRA) today marks the one-year anniversary of the FINRA Securities Helpline for Seniors 1-844-57-HELPS (1-844-574-3577). To date, the helpline has fielded more than 4,200 calls, recovering over $1.3 million in voluntary reimbursements from firms since its launch in April 2015. "Financial fraud is a problem, and seniors are the most vulnerable. Victims of fraud sometimes feel they have nowhere to go, or are embarrassed to reach out," said Susan Axelrod, FINRA Executive Vice President, Regulatory Operations. "We are very pleased that investors are using our free helpline and encourage seniors, or those caring for seniors, with investment-related questions to give us a call."
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CFTC Swaps Report Update
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SIFMA Statement On EMSAC Recommendations On Trading Venue Regulations And Access Fee Pilot
SIFMA today issued the following statement from Randy Snook, SIFMA executive vice president of business policies and practices, on the Equity Market Structure Advisory Committee’s (EMSAC) subcommittee recommendations relating to trading venues regulation and framework for a potential access fee pilot.
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Random factor approach for large sets of equity time-series. (arXiv:1604.05896v1 [q-fin.ST])
Factor models are commonly used in financial applications to analyze portfolio risk and to decompose it to loadings of risk factors. A linear factor model often depends on a small number of carefully-chosen factors and it has been assumed that an arbitrary selection of factors does not yield a feasible factor model. We develop a statistical factor model, the random factor model, in which factors are chosen at random based on the random projection method. Random selection of factors has the important consequence that the factors are almost orthogonal with respect to each other. The developed random factor model is expected to preserve covariance between time-series. We derive probabilistic bounds for the accuracy of the random factor representation of time-series, their cross-correlations and covariances. As an application of the random factor model, we analyze reproduction of correlation coefficients in the well-diversified Russell 3,000 equity index using the random factor model. Comparison with the principal component analysis (PCA) shows that the random factor model requires significantly fewer factors to provide an equally accurate reproduction of correlation coefficients. This occurs despite the finding that PCA reproduces single equity return time-series more faithfully than the random factor model. Accuracy of a random factor model is not very sensitive to which particular set of randomly-chosen factors is used. A more general kind of universality of random factor models is also present: it does not much matter which particular method is used to construct the random factor model, accuracy of the resulting factor model is almost identical.
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Multidimensional matching. (arXiv:1604.05771v1 [q-fin.EC])
We present a general analysis of multidimensional matching problems with transferable utility, paying particular attention to the case in which the dimensions of heterogeneity on the two sides of the market are unequal. A particular emphasis is put on problems where agents on one side of the market are multidimensional and agents on the other side are uni-dimensional, we describe a general approach to solve such problems. Lastly, we analyze several examples, including an hedonic model with differentiated products, a marriage market model where wives are differentiated in income and fertility, and a competitive variation of the Rochet-Chon\'e problem. In the latter example, we show that the bunching phenomena, observed by Rochet and Chon\'e in the monopoly context, do not occur in the competitive context
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Hedgehogging: Zeitlose Investment-Weisheiten einer Wall-Street-Legende
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Des Teufels Wörterbuch der Finanzwelt: Von A wie AAA bis Z wie Zombie Fonds
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OpenBondX Electronic Trading Platform Rolls Out New Rebate - Fee Structure For Fixed-Income Trading - Rebates And Low Responder Pricing Designed To Attract Liquidity And Incentivize All Market Participants
Recently-launched electronic bond-trading venue OpenBondX, LLC (www.openbondx.com) is implementing an innovative pricing strategy that previously has helped transform other markets.
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MGEX Records Top 25 Daily Electronic Volume
MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reports an electronic volume of 15,341 from Wednesday, making it the 24th-best day on the electronic daily volume charts.
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Stellar Trading Systems Establishes Connectivity With CBOE Futures Exchange - Link Broadens CFEâs Reach With European, Asian Traders
CBOE Futures Exchange, LLC (CFE®) today announced that Stellar Trading Systems, a multi-asset trading software and services specialist, has established connectivity with CFE as an approved independent software vendor (ISV).
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Qatar Stock Exchange Sets The Listing Of Qatar First Bank On Wednesday, April 27, 2016 & Shareholders Data Available At Brokerage Firms By Sunday, April 24, 2016
Qatar Stock Exchange (QSE) is pleased to announce that based on the approval of Qatar Financial Markets Authority (QFMA), the listing of Qatar First Bank (QFB) will be on Wednesday, April 27, 2016. The decision to list QFB on QSE resulted after the bank has fulfilled and complied with all necessary listing requirements. With the listing of QFB, the number of listed companies on QSE will increase to 44.
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Moscow Exchange: Risk Parameters For New Bonds
New bonds will be accepted to margin trading starting from April 22, 2016. From this date on, the following risk parameters will be applied:
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Better Finance: Are All Bank Investors Treated Equally By EU Member States?
The first bail-in under new European rules has taken place. A little more than a week ago Heta Asset Resolution’s bondholders had no choice but to take their losses, as the Austrian regulator ordered for 54% of its debts – 100% in the case of junior (subordinated) bonds - to be written off. Bondholders will also no longer receive interests from the bank.
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IPOready Participants Visit NASDAQ For Opening Bell Ceremony
As part of the final semester the CEO and CFO participants of the #IPOready programme are in New York City (NYC). On their second day in the Big Apple the executives enjoyed a visit to NASDAQ organised by the Irish Stock Exchange (ISE) and received expert advice from leading law firms and investment banks.
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Encouraging People to Ask for Help
The New York Times' Corner Office column, by Adam Bryant, featured an interview recently with Amy Pressman. She serves as President (and co-founder) of Medallia. The firm provides customer experience management software for firms such as Paypal, Delta, Nordstrom, and GE Healthcare. Pressman describes an important element of Medallia's culture in her interview. Here's an excerpt:
We work hard to overcome the âimpostor syndromeâ that a lot of people feel. People present themselves with résumés of unbroken success. But none of us are perfect. Unfortunately, when we hit roadblocks and need help, many of us donât feel like we can ask for it. So weâre essentially curtailing the pace at which we can learn, because itâs much harder to learn in the shadows without asking for help than to just come out and say, âI am really struggling with this. Please help me. What do I do?â A lot of people are hiding, and we have created environments where we do not learn quickly. Ultimately, the one sustainable competitive advantage that a company can have is a culture that enables its people and the entire organization to learn faster. Fast learning has to come from a place of people feeling safe to talk about whatâs working and not working, of recognizing that their job is not to appear perfect but to get better. We run a week-long onboarding to expose new hires to all these ideas. Also, one afternoon during the week we tell them, âGo out and do something that is holding you back and scares you.â It sounds kind of faddish, but the exercise is actually really powerful. It makes a point: Donât let the fear of failure â or even of imperfection â hold you back.
I love the concept, and I'm curious about what the onboarding process entails at Medallia. How does the firm inculcate these values right from the start? How do they expose people to these ideas? Most importantly, I love the goal that they have set out to achieve: How do we create an environment that enables people to learn more quickly? Every firm should ask themselves that question.
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Euronext To Start Distributing Market Data In China Via Major Chinese Vendors - Euronext Signs An Agreement That Facilitates Access Into The Pan-European Markets For Chinese Investors
Euronext, the leading pan-European marketplace, announced the signing of market data agreements with Chinese data vendors East Money, Shanghai DZH Limited and Shanghai Wind Information , which will allow them to distribute Euronext’s market data in mainland China. As of today, up to 100 million Chinese retail and institutional investors have the opportunity to follow Euronext markets in the Chinese language.
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European Commission: Keynote Speech By Commissioner Jonathan Hill At The EUROFI High Level Seminar, Amsterdam
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