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07 March 2013
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News on the global financial markets

  Morning Bell 
 
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  Industry News 
  Regulatory Roundup 
  • Council of the EU moves toward deal on OTFs in MiFID II
    Organised trading facilities, part of the revised Markets in Financial Instruments Directive, continue to be a sticking point for policymakers, but the Council of the EU appears to be making progress. The council has reached an agreement on the venue category, saying it should be used for all asset classes, sources say. The Trade News (U.K.) (06 Mar.) LinkedInFacebookTwitterEmail this Story
  • UK will request technical changes to banker-bonus cap
    The UK wants minor changes to Europe's proposed cap on bankers' bonuses. "We are responsible for 40% of the EU's financial services ... we want to make sure that international banks go on being headquartered here in the UK," Prime Minister David Cameron told Parliament. Reuters (06 Mar.) LinkedInFacebookTwitterEmail this Story
  • Expectations are divided on BoE bond purchases
    Money markets suggest a nearly 50% chance of more quantitative easing and bond purchases from the Bank of England. Economists say further easing would do little good. "More QE would only provide marginal benefits for the economy, while heightening longer-term risks of financial distortions, bubbles and higher inflation," British Chambers of Commerce Chief Economist David Kern said. Conversely, BoE Deputy Governor Paul Tucker says "nobody on the committee thinks that QE has reached the end of the road and that it is not a useful instrument anymore". Reuters (07 Mar.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • Chinese regulator expands RQFII programme
    The China Securities Regulatory Commission is letting more financial institutions participate in the Renminbi Qualified Foreign Institutional Investor programme. Under amended rules, Hong Kong divisions of Chinese insurers and banks, as well as Hong Kong-based financial institutions, are allowed to participate. Also, participants can invest in stock-index futures, in addition to bonds and equities. Bloomberg (07 Mar.), The Wall Street Journal/Dow Jones Newswires (06 Mar.)
  AFME News 
  • Early-bird registration is open: AFME 6th Annual European Post-Trade Conference
    Registration is open for AFME's 6th Annual European Post-Trade Conference, scheduled on 23 May at the Lancaster London hotel. This event brings together eminent speakers from across the industry, including senior operations executives and key regulators, and offers insights into crucial developments in the post-trade space and their impact on the industry.

    Register to secure your place.
    • Early-bird member rate (available until 11 April): £299
    • Early-bird nonmember rate: (available until 11 April): £609
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  SmartQuote 
Scientific progress makes moral progress a necessity; for if man's power is increased, the checks that restrain him from abusing it must be strengthened."
--Anne Louise Germaine de Staël,
Swiss author


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