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12 February 2013
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News on the global financial markets

  Morning Bell 
  Industry News 
  • Weidmann doesn't want ECB to manipulate euro
    Jens Weidmann, a member of the European Central Bank Governing Council, doesn't want the bank to intervene on behalf of the euro. "An exchange-rate policy to specifically weaken the euro would lead to higher inflation in the end," Weidmann said. Discussion about the strength of the euro is detracting from contemplation of national-level policy that needs to be enacted, he said. Bloomberg (11 Feb.), The Washington Post/The Associated Press (11 Feb.), Reuters (11 Feb.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • European officials take aim at financial-sector bonuses
    The European Securities and Markets Authority is advocating for bonuses of senior hedge fund and private-equity managers to be paid out over three to five years to align the incentives with the long-term health of portfolios such managers oversee. Meanwhile, EU politicians are examining capping bankers' bonuses at 100% of salary, or 200% if shareholders explicitly permit it. Bloomberg (11 Feb.), Reuters (11 Feb.) LinkedInFacebookTwitterEmail this Story
  • Analysis: Carney's introduction to BoE
    In his first discussion of plans for running the Bank of England, Mark Carney put aside some of the more experimental ideas he has flirted with before but maintained a tough stance on the financial industry. When questioned by Parliament, Carney suggested that he is for further stimulus, though not necessarily quantitative easing; against nominal gross domestic product targeting; and in favour of strengthening bank capitalisation and forcing higher leverage ratios. The Telegraph (London) (tiered subscription model) (07 Feb.) LinkedInFacebookTwitterEmail this Story
  Tech Trends 
  • Alphabet soup of transaction codes might be getting muddled
    Legal-entity identifier, unique swaps identifier, unique product identifier, unique counterparty identifier -- the proliferation of transaction codes might be causing confusion, experts say. "Does the originator of a transaction get identified with USIs? No, the originator gets a [derivatives-clearing organisation's] internal counterparty number, a [National Futures Association] ID if they come with that or a [Commodity Futures Trading Commission Interim Compliant Identifier] if they present that," said Allan Grody, president of Financial Intergroup. "The rest of the USI is a transaction identifier, unique to the swap, not the swap business entity that was the transactor." Securities Technology Monitor (11 Feb.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  AFME News 
  • IOSCO Secretary General David Wright and ECB Executive Board member Peter Praet will deliver keynote speeches at AFME's 2013 European Market Liquidity Conference
    The European Market Liquidity Conference is a high-profile, unique event on the European trading community's calendar that attracts 400-plus delegates from the buy and sell sides, fixed income and foreign exchange. The conference is scheduled Wednesday at Grange St Paul's Hotel in London. The content is designed and driven by market participants and therefore ensures that debates consist of genuine, in-depth discussion led by experienced, senior speakers.

    The conference programme will explore key topics on funding economic growth; structural changes of fixed income, currencies and commodities; and the impact of regulation on liquidity. Peter Praet, a member of the European Central Bank Executive Board, and David Wright, secretary general of the International Organisation of Securities Commissions, have confirmed that they will deliver keynote speeches at the conference.

    View the full programme and register. LinkedInFacebookTwitterEmail this Story
  • AFME inaugural flagship conference is announced: "Financing Growth"
    AFME is pleased to announce its inaugural flagship conference, "Financing Growth: What the new world of regulation means for banks, capital markets and their users", scheduled on 24 September in London. The invitation-only conference will bring together as many as 500 senior decision-makers from Europe's financial industry, along with regulators and politicians, to discuss what needs to be done to enable capital markets to support growth and investment. Further details will be announced in February, including VIP speakers and the historic conference venue. LinkedInFacebookTwitterEmail this Story
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Never do anything when you are in a temper, for you will do everything wrong."
--Baltasar Gracian,
Spanish philosopher and writer

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