Following the publication today by London Stock Exchange Group plc of its preliminary results for the year ended 31 December 2016, HLDCO123 PLC ("HoldCo") has today published a supplementary prospectus (the "Fourth Supplementary Prospectus"), which supplements the prospectus published by HoldCo on 1 June 2016, as supplemented by supplementary prospectuses dated 28 July 2016, 4 August 2016 and 17 February 2017, in connection with the Merger and Admission (the "Prospectus").
read more...Recommended All-Share Merger Between London Stock Exchange Group Plc And Deutsche Börse AG - Publication Of Supplementary Prospectus
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EBA Provides Transparent And Harmonised Information On Asset Encumbrance Across The EU
The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on the disclosure of encumbered and unencumbered assets for the provision of transparent and harmonised information on this topic, as laid down in the Capital Requirements Regulation (CRR). Through the disclosure of asset encumbrance based on a consistent definition and formats, these standards will enable market participants to assess the information provided by institutions in a clear and consistent manner.
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Long-term interest rates overrated as signposts for future growth, inflation: Hyun Song Shin
Press release, 3 March 2017: Very low yields on long-term government bonds may not necessarily signal prolonged future economic stagnation and deflation but instead reflect efforts by institutional investors to limit risk, Bank for International Settlements Economic Adviser and Head of Research Hyun Song Shin said on Friday.
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Speech By Federal Reserve Chair Janet L. Yellen At The Executives' Club Of Chicago, Chicago, Illinois, March 3, 2017, From Adding Accommodation To Scaling It Back
I am pleased to join you today to discuss the U.S. economy and the Federal Reserve's monetary policy. I strongly believe that my colleagues and I should explain, as clearly as we can, both the reasons for our decisions and the fundamental principles that underlie our strategy.
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Irish Stock Exchange February 2017 Market Statistics
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Borsa Italiana Monthly Update February 2017
Click here to download Borsa Italiana's monthly update for February 2017.
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March 3, 2017 - SS&C to Present at the Raymond James 38th Annual Institutional Investors Conference
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Intercontinental Exchange Sets Date For 2017 Annual Meeting Of Stockholders
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges, clearing houses and provider of data and listings services, will hold its 2017 Annual Meeting of Stockholders on Friday, May 19, 2017 at 8:30 a.m. ET at The St. Regis Atlanta. The proxy statement and admission procedures will be available in early April for stockholders of record as of March 21, 2017. A live audio webcast and replay of the annual meeting will be available on the company’s website www.theice.com in the investor relations and media section.
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Financial Women’s Association Of New York To Ring The Nasdaq Stock Market Closing Bell
What:
Financial Women’s Association of New York (FWA), founded in 1956, is an organization dedicated to advancing the leadership of women in the financial community, will visit the Nasdaq MarketSite in Times Square.
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Federal Reserve Releases Examples Of New Charts That Illustrate Uncertainty Around Monetary Policymakers' Macroeconomic And Interest Rate Projections
The Federal Reserve on Friday released examples of new charts (sometimes called "fan charts") and related materials that illustrate and describe the uncertainty that attends Federal Open Market Committee participants' macroeconomic and interest rate projections.
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CFTC Commitments Of Traders Reports Update
The current reports for the week of February 28, 2017 are now available.
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CME Group Chief Financial Officer To Present At Raymond James Conference
CME Group announced today that Chief Financial Officer John Pietrowicz will present at the Raymond James & Associates 38th Annual Institutional Investors Conference, in Orlando, Florida, on Tuesday, March 7, at 11:00 a.m. Eastern Time.
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AIXTRON SE To Be Included In TecDAX - Deutsche Börse Reviews Index Composition - Changes To Be Effective As Of 20 March 2017
On Friday, Deutsche Börse announced changes to its selection indices, which will become effective on 20 March 2017. The shares of AIXTRON SE will be included in the TecDAX index and will replace the shares of STRATEC Biomedical AG. The inclusion of AIXTRON SE is based on the fast entry rule; the company is eligible for the index inclusion due to its market capitalisation and order book turnover. For AIXTRON SE this is a return to TecDAX, the company left the index in December 2016 due to low market capitalisation.
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TEXPERS Comments On Filing Of Actuarial Soundness Bill 2434
Max Patterson, the executive director of the Texas Association of Public Employee Retirement Systems, offered thoughts on the media presentation of Texas House bill 2434:
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BM&FBOVESPA Publishes February Market Performance
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Deutsche Bank Refines Strategy And Announces Capital Increase
Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) is taking a decisive step forward to become stronger and grow again. Decisions agreed by the Management Board and Supervisory Board on Sunday aim to reinforce the bank’s roots in its home market of Germany and its position as a leading European bank with global reach. The bank plans to combine Postbank and Deutsche Bank’s Private & Commercial clients business, float a minority stake of Deutsche Asset Management and create an integrated corporate and investment bank.
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NZX Shareholder Metrics February 2017
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*K-means and Cluster Models for Cancer Signatures. (arXiv:1703.00703v1 [q-bio.GN] CROSS LISTED)
We present *K-means clustering algorithm and source code by expanding statistical clustering methods applied in https://ssrn.com/abstract=2802753 to quantitative finance. *K-means is essentially deterministic without specifying initial centers, etc. We apply *K-means to extracting cancer signatures from genome data without using nonnegative matrix factorization (NMF). *K-means' computational cots is a faction of NMF's. Using 1,389 published samples for 14 cancer types, we find that 3 cancers (liver cancer, lung cancer and renal cell carcinoma) stand out and do not have cluster-like structures. Two clusters have especially high within-cluster correlations with 11 other cancers indicating common underlying structures. Our approach opens a novel avenue for studying such structures. *K-means is universal and can be applied in other fields. We discuss some potential applications in quantitative finance.
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Model Spaces for Risk Measures. (arXiv:1703.01137v1 [q-fin.RM])
We show how risk measures originally defined in a model free framework in terms of acceptance sets and reference assets imply a meaningful underlying probability structure. Hereafter we construct a maximal domain of definition of the risk measure respecting the underlying ambiguity profile. We particularly emphasise liquidity effects and discuss the correspondence between properties of the risk measure and the structure of this domain as well as subdifferentiability properties.
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Moment generating functions and Normalized implied volatilities: unification and extension via Fukasawa's pricing formula. (arXiv:1703.00957v1 [q-fin.PR])
We extend the model-free formula of [Fukasawa 2012] for $\mathbb E[\Psi(X_T)]$, where $X_T=\log S_T/F$ is the log-price of an asset, to functions $\Psi$ of exponential growth. The resulting integral representation is written in terms of normalized implied volatilities. Just as Fukasawa's work provides rigourous ground for Chriss and Morokoff's (1999) model-free formula for the log-contract (related to the Variance swap implied variance), we prove an expression for the moment generating function $\mathbb E[e^{p X_T}]$ on its analyticity domain, that encompasses (and extends) Matytsin's formula [Matytsin 2000] for the characteristic function $\mathbb E[e^{i \eta X_T}]$ and Bergomi's formula [Bergomi 2016] for $\mathbb E[e^{p X_T}]$, $p \in [0,1]$. Besides, we (i) show that put-call duality transforms the first normalized implied volatility into the second, and (ii) analyze the invertibility of the extended transformation $d(p,\cdot) = p \, d_1 + (1-p)d_2$ when $p$ lies outside $[0,1]$. As an application of (i), one can generate representations for the MGF (or other payoffs) by switching between one normalized implied volatility and the other.
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