IOB Newsletter - February 2015

 
 
 

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IOB Highlights of the month

  • IOB Liquidity Provision Scheme (LPS) live 2 February
  • LSEG signs Partnership Agreement with Borsa Istanbul
  • LSEG CIS & CEE Conference, Thursday 26 March 2015

Cash Equity Market

  • Average Order Book Daily Turnover on the IOB in January was $391.3m
  • The IOB LPS was launched on 2 February to encourage tighter spreads, greater depth of liquidity and improve execution likelihood on the order book, to the benefit of all participants. Click here to find more details >>
  • For the current ESMA Draft Technical Standards and Technical advice consultation on the CSD Regulation (CSDR), the closing date for consultation responses is 19th February 2015. The consultation includes:

               1. Draft technical standards - that sets out buying in process and timetable

               2. Draft technical advice - on penalties for settlement fails and on the substantial importance of CSD

CSDR will bring a new buy regime for all settlements in the EU, both for cleared and uncleared trades

 

Liquidity

Asset Type

Extension Period (set in CSDR)

Execution Period (proposed in RTS)

To be delivered by

Liquid

Equities

ISD + 4 business days

4 business days

ISD + 8 business days

Bonds

ISD + 4 business days

4 business days

ISD + 8 business days

Instruments on SMEs GM

ISD + 15 days

4 business days

ISD + 19 days

Non-liquid

Equities (except cleared*)

ISD + 7 business days

7 business days

ISD +14 business days

Bonds

ISD + 7 business days

7 business days

ISD + 14 business days

Depositary receipts

ISD + 7 business days

7 business days

ISD + 14 business days

ETFs

ISD + 7 business days

7 business days

ISD + 14 business days

Certificates

ISD + 7 business days

7 business days

ISD +14 business days

Instruments on SMEs GM

ISD + 15 days

7 business days

ISD + 22 days

Other financial instruments

ISD + 7 business days

7 business days

ISD + 14 business days

Non-liquid

cleared equities*

Equities

ISD + 4 business days

7 business days

ISD + 11 business days

 

Derivatives Market

Under the partnership agreement between LSEG and Borsa Istanbul, London Stock Exchange Derivatives Market (LSEDM) will offer trading in futures and options on the BIST 30 Index and on leading Turkish stocks. In addition, LCH.Clearnet will provide central counterparty services to LSEDM and its clearing members. The flagship BIST 30 Index futures currently trades, on average, more than 170,000 contracts per day on Borsa Istanbul. Subject to regulatory approval and customer readiness, London trading in the products is expected to be available in the second half of 2015. In addition, FTSE and Borsa Istanbul-owned and other relevant indices referencing Turkish securities. Read more>>

Events

LSEG CIS & CIS Conference, 26 March 2015, London: This event will focus on the current market environment in the region, including investment flows, growth forecast and access to capital markets. Review latest agenda and register to the event>>