ATHEX Index Series Advisory Committee approved today the following changes in the composition of the ATHEX Index Series, taking into consideration the results of the review for the period October 2015 - March 2016.
read more...Semi - Annual Review Of ATHEX Index Series
↧
↧
TMX Group Announces Retirement Of John McCoach, President, TSX Venture Exchange, At End Of 2016
TMX Group today announced the retirement of John McCoach, President of TSX Venture Exchange (TSXV), a wholly-owned subsidiary of TMX Group, effective December 31, 2016.
read more...↧
Alberta Securities Commission Sanctions Candice Graf, Homerun International Inc. And Connected Companies For Breaching Alberta Securities Laws
The Alberta Securities Commission (ASC) has sanctioned Candice Anne Graf (a.k.a. Candi Hayward), Homerun International Inc. and connected companies (First Base Investments Inc., Homerun Capital Corp., Homerun Equities Inc., Homerun Capital II Corp., Homerun Equities II Inc., 1496044 Alberta Ltd. and 1539149 Alberta Ltd.) for breaching Alberta securities laws. Christopher Robert Hayward was sanctioned for authorizing, permitting or acquiescing in the majority of the corporations' breaches.
read more...↧
Office Of The Comptroller Of The Currency: Comptroller Statement Regarding The Proposed Incentive-Based Compensation Rule
Comptroller of the Currency Thomas J. Curry today made the following statement at a board meeting of the Federal Deposit Insurance Corporation (FDIC) on his vote approving the proposed Incentive-Compensation Rule, implementing Section 956 of the Dodd-Frank Consumer Protection and Wall Street Reform Act of 2010. The Comptroller also signed the proposed rule on behalf of the Office of the Comptroller of the Currency (OCC).
read more...↧
G&A Institute And Bloomberg LP Partnered To Examine Bloomberg ESG Disclosure Scores For S&P 500 Companies Reporting VS Not Reporting On Sustainability - Results Show Companies Not Publishing Sustainability Reports Are Disadvantaged By Lower Average Bloomberg ESG Disclosure Scores
Continuing the in-depth analysis of S&P 500 (r) companies' sustainability reporting activities, Governance & Accountability Institute teamed with Bloomberg LP to analyze the data, scores and perceptions presented to investment professionals using the Bloomberg Professional information platform which features ESG data and assigns disclosure scores for public companies.
read more...↧
↧
Nasdaq Announces Mid-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date April 15, 2016
At the end of the settlement date of April 15, 2016, short interest in 2,305 Nasdaq Global MarketSM securities totaled 8,009,519,261 shares compared with 8,166,679,657 shares in 2,301 Global Market issues reported for the prior settlement date of March 31, 2016. The Mid-April short interest represents 5.12 days average daily Nasdaq Global Market share volume for the reporting period, compared with 4.90 days for the prior reporting period.
read more...↧
Statement From New York Attorney General Eric T. Schneidermann On Case Against Donald Trump And Trump University
Attorney General Eric T. Schneiderman issued the following statement on today’s hearing in New York State Supreme Court on the case against Donald Trump and Trump University:
read more...↧
TSX Staff Notice On Four Letter Stock Symbol Reservation Procedures
Toronto Stock Exchange ("TSX") staff is providing guidance with respect to its stock symbol reservation procedures. Currently, a stock symbol must consist of not more than three letters of the alphabet, as set out in Section 355 of the TSX Company Manual.
However, TSX is now giving listed issuers and applicants the option to reserve stock symbols that consist of four letters of the alphabet. TSX anticipates that four letter stock symbols will commence trading by the end of the fourth quarter of 2016.
TSX is now accepting initial reservation requests for four letter stock symbols. In order to provide applicants and listed issuers with an equitable allocation process, TSX will accept written requests for four letter stock symbols during an initial allocation and reservation period that will expire on May 20, 2016.
A Staff Notice dated April 26, 2016 has been posted on TSX's website at:
↧
Is the public sector of your country a diffusion borrower? Empirical evidence from Brazil. (arXiv:1604.07782v1 [q-fin.GN])
We propose a diffusion process to describe the global dynamic evolution of credit operations at a national level given observed operations at a subnational level in a sovereign country. Empirical analysis with a unique dataset from Brazilian federate constituents supports the conclusions. Despite the heterogeneity observed in credit operations at a subnational level, the aggregated dynamics at a national level were accurately described with the proposed model. Results may guide management of public finances, particularly debt manager authorities in charge of reaching surplus targets.
read more...↧
↧
Arbitrage without borrowing or short selling?. (arXiv:1604.07690v1 [q-fin.MF])
We show that a trader, who starts with no initial wealth and is not allowed to borrow money or short sell assets, is theoretically able to attain positive wealth by continuous trading, provided that she has perfect foresight of future asset prices, given by a continuous semimartingale. Such an arbitrage strategy can be constructed as a process of finite variation that satisfies a seemingly innocuous self-financing condition, formulated using a pathwise Riemann-Stieltjes integral. Our result exemplifies the potential intricacies of formulating economically meaningful self-financing conditions in continuous time, when one leaves the conventional arbitrage-free framework.
read more...↧
Linear models for the impact of order flow on prices II. The Mixture Transition Distribution model. (arXiv:1604.07556v1 [q-fin.TR])
Modeling the impact of the order flow on asset prices is of primary importance to understand the behavior of financial markets. Part I of this paper reported the remarkable improvements in the description of the price dynamics which can be obtained when one incorporates the impact of past returns on the future order flow. However, impact models presented in Part I consider the order flow as an exogenous process, only characterized by its two-point correlations. This assumption seriously limits the forecasting ability of the model. Here we attempt to model directly the stream of discrete events with a so-called Mixture Transition Distribution (MTD) framework, introduced originally by Raftery (1985). We distinguish between price-changing and non price-changing events and combine them with the order sign in order to reduce the order flow dynamics to the dynamics of a four-state discrete random variable. The MTD represents a parsimonious approximation of a full high-order Markov chain. The new approach captures with adequate realism the conditional correlation functions between signed events for both small and large tick stocks and signature plots. From a methodological viewpoint, we discuss a novel and flexible way to calibrate a large class of MTD models with a very large number of parameters. In spite of this large number of parameters, an out-of-sample analysis confirms that the model does not overfit the data.
read more...↧
The Ideal Team Player: How to Recognize and Cultivate The Three Essential Virtues
↧
Wiley Practice Questions for 2016 Part I FRM Exam
↧
↧
The Fully Integrated Engineer: Combining Technical Ability and Leadership Prowess
↧
Dalian Commodity Exchange Adopts New Measures To Prevent Risks
Dalian Commodity Exchange (DCE) issued a notice today (the 21st) to announce that according to the relevant provisions in the “Measures of Dalian Commodity Exchange for Risk Management”, it will, starting from the settlement on April 25, adjust the price limits and the minimum trade margins for 8 futures products as well as the trading fees of the iron ore and the PP futures. Starting from the trading on April 25 (the after-hours trading at 21:00 on Friday this week), DCE will cancel the exemption for the unusual transactions of arbitrage clients, so as to prevent and control the risk of overheated trading.
According to the notice, the price limit of the futures products of No. 1 Soybeans, Soybean Meal, Corn, Corn Starch and PVC will be adjusted to 5% and the minimum trade margin will be adjusted to 7%. The minimum trade margin of LLDPE and PP will be adjusted to 7%. The minimum trade margin of Iron Ore will be adjusted to 8%. As regards the contracts both meeting the requirements for adjusting the trade margin and price limit stipulated by the “Measures of Dalian Commodity Exchange for Risk Management”, their minimum trading margin and price limit shall be subject to the higher one provided by the Measures. At the same time, the trading fee rate of the iron ore and PP futures will be adjusted to 0.009% of the transaction amount. The application of the provision of “the self-trade behavior, the behavior of frequently placing and cancelling orders and the behavior of placing and cancelling large-amount orders caused by arbitrage trading shall not be regarded as abnormal trading behaviors” in the “Relevant Regulatory Standards and Processing Procedures of the ‘Measures against Abnormal Trading on Dalian Commodity Exchange(for Trial Implementation)’” will be suspended.
A market analyst pointed out that in the context of the changes to the macroeconomic operation and the monetary policy and the advancement of the reform on the supply side, the supply-demand structures of related industries have begun to transform, the trading volume to turnover ratio of several products in the domestic futures market have continued to increase rapidly, the ranges of price fluctuations have expanded with the price limits reached quite frequently, and the tendency of overheated trading has appeared. In such circumstances, continuously adjusting the price limits, the minimum trade margins and the trading fees of the contracts will help DCE to prevent and control the potential risks caused by overheated trading, guide rational trading and further strengthen the capacity of the market for resist and defuse the risks.
↧
Japan Exchange Group: Calculation And Publication Of JPX/S&P CAPEX & Human Capital Index
Japan Exchange Group, Tokyo Stock Exchange and S&P Dow Jones Indices today announced the launch of JPX/S&P CAPEX & Human Capital Index
read more...↧
Westpac MNI China Consumer Sentiment Indicator Edges Slightly Lower In April - Survey Points To Improved Outlook For Spending
Chinese consumer sentiment eased slightly in April, although improvements across a range of spending gauges in the survey point to a better outlook for retail sales and consumption expenditure in general.
The Westpac MNI China Consumer Sentiment Indicator decreased 0.3% on the month to 117.8 in April from 118.1 in March, managing to hold on to most of March’s sharp rebound. Confidence has increased 2.5% since the start of the year, although it still sits below the series average of 119.9.
The slight pull back in consumer sentiment was led by a fall in expectations of Business Conditions in a Year’s time to 119.3 in April from 122.8 in March. Consumers were also less confident about the outlook for their personal finances, as reflected by the Expected Personal Finances Indicator, which fell 1.8% to 116.1 in April.
More positively, respondents were more optimistic about their current personal financial situation with the Current Personal Finances Indicator increasing 1.1% to 110.3 in April, the highest since May 2014. Moreover, a range of metrics aimed at assessing how willing respondents are to purchase goods or spend on leisure activities increased significantly. Both the Shopping and Dining Out Expenditure Indicators increased to the highest since July and February 2014 respectively. The high correlation between the leisure spending data and official retail sales figures suggest April could be a good month for the latter.
Buying conditions for IT products, phones and other appliances all rose sharply, while the wider measure of Durable Buying Conditions hung on to the sharp gain made in March. This increased optimism spilt over to the car market where respondents continued to revise higher their expectations for car purchases over the coming year. The Car Purchase Expectations Indicator increased to 109.1 in April from 103.4 in March, the highest since October 2010.
On the back of the numerous policy measures taken to contain widespread real estate market imbalances, optimism over the housing market faded marginally in April. The House Price Expectations component eased 3.3% to 120.1 in April, although remained at a relatively high level. Against this, the share of respondents reporting it was a ‘good time to buy a house’ rose again, while 17.3% of consumers nominated domestic real estate as the ‘wisest place for their savings’, up notably from the low of 13.6% in March.
Commenting on the latest survey, Chief Economist of MNI Indicators Philip Uglow said, “While the headline Westpac MNI China Consumer Sentiment Indicator fell marginally on the month in April, this belies a more robust picture beneath the surface. Most notably the far more positive gauges on leisure spend and buying conditions across a range of items including cars, should help to underpin retail sales and consumer spending growth.”
Westpac Senior Economist Matthew Hassan said, “The Chinese consumer continues to show promising signs of improvement. The first few months of 2016 have registered a solid lift in sentiment coupled with increasingly positive readings on housing and spending related questions. There are still weaknesses – the anticipated recovery in business conditions remains elusive and consumers’ job loss concerns remain elevated – and it remains to be seen how well the improved mood is sustained but prospects for a lift in Chinese consumer-related demand now look somewhat better than they did at the start of the year.”
↧
↧
Japan's Financial Services Agency: Establishment Of âPanel Of Experts On FinTech Start-Upsâ
The trend of FinTech has been attracting attention. However, advanced FinTech start-ups and venture capitalists have not necessarily emerged in Japan when compared with the situation in other advanced economies.
read more...↧
AnaCap In Exclusive Talks To Acquire Barclaysâ French Retail Banking Operations
AnaCap Financial Partners (“AnaCap”), the specialist European financial services private equity firm, announces that it has entered into exclusive negotiations to acquire Barclays plc’s French retail banking and wealth businesses. Barclays will continue to operate its corporate and investment banking operations in France.
read more...↧
London Stock Exchange Group: IMS For The Period To 26 April 2016, Including Revenues And KPIS For The Three Months Ended 31 March 2016 (Q1)
↧
More Pages to Explore .....
