Following rapid growth in the volume of trading in European corporate bonds on Tradeweb’s European cash credit marketplace, the electronic trading platform launched trading in corporate bonds from issuers in Central & Eastern Europe, the Middle East and Africa. Much of the demand for CEEMEA bonds stemmed from continental European institutional investors – hence the news was announced in German, French and UK tier one and specialist print media, including FT Deutschland and L’Agefi.
Having been named by the European Bank for Reconstruction and Development as the “Most active bank under the Trade Facilitation Programme” for the eighth year running, Commerzbank’s experience in Eastern Europe is unrivalled. Yet success in the region goes beyond simply processing guarantee transactions. As such, Moorgate set up an interview with Per Fischer, Commerzbank’s head of financial institutions to discuss in more detail the work that the bank does in Eastern Europe, as well as why the region offers huge trading opportunities for Western corporates. The full write-up can be found in this month’s special SIBOS edition of Trade Finance magazine.
To read the article, please click here (please note, this link lies behind a paywall)
As part of its Innovation Series, BNY Mellon’s new brochure ‘Making the Connection’ explores the parallel evolution of personal and financial communication from paper-based exchanges to today’s instant, 24-hour mass communication. As communication lies at the heart of trade, keeping with developments in transaction and data-management technology is key to future commercial success.
Read the brochure here
Peter Hazou, EMEA Head of Market Management for BNY Mellon’s Treasury Services group, narrates a short video to accompany the brochure, in which he delves into the essential role of communication global commerce and connectivity. He draws on a true passion of his to explain the intricacies of understanding technology – the radio.
Watch the video here
In his latest blog for FTSE Global Markets, Patrick Artus, chief economist at Natixis, ponders the likelihood of France suffering an “attack” in the government bond markets – and how Germany might then respond. Given the size and number of challenges facing the French economy today, Artus suggests such an attack is now entirely conceivable. With sharply increased government borrowing costs then amplifying France’s economic demise, Germany would be faced with two tough choices: either accept the failure of the euro and its collapse, or whole heartedly embrace federalism.
As smartphones look set to become the future platform of choice for consumer interaction, mobile payments will likely emerge as a key payment method. Arthur Brieske, Global Head of Commercialisation for Global Transaction Banking, and Hans Oostenbrink, Netherlands Head of Cash Management and EMEA Industry Head for Consumer and Retail, discuss the advantages of mobile payments systems from both the consumer and retailer perspectives.
To read the full article, please click here.
The ongoing debt crisis in Europe has focused more attention than ever on credit ratings, but a key question that is often overlooked is whether credit ratings actually do the job they are designed for. Blaise Ganguin, EMEA Head of Corporate & Infrastructure Ratings, Standard & Poor’s Ratings Services, tackles the question in the latest edition of IFR.
Moorgate Communications passed an important landmark this month – our tenth anniversary. It was in October 2002 that Moorgate started work for its first client, Standard & Poor’s. Working from a shared office in Tabernacle Street (just north of Finsbury Square), Moorgate soon added Deutsche Bank to its client roster – two clients that we continue to happily serve to this day. Indeed, our aim of communicating our clients’ expertise through the execution of long-term thought leadership projects was born from working closely on these two accounts – and has remained a core part of our offering ever since. Happy anniversary Moorgate Communications!
Many believed that insurer Aviva’s decision early this year to withdraw from the pension £50m-plus bulk annuity market (which includes both buy-ins and buyouts), signalled the death knell for the market. However, contributing to a feature for Pensions Age magazine, PensionsFirst Capital CEO Hugo James disagrees, arguing that it innovation can overcome many of the barrier’s to the market’s success. He states that one of the reasons why the very large transactions aren’t happening is because from a shareholder value perspective, paying an insurer a premium to meet its 15% return on capital requirement is destroying shareholder value for sponsoring corporates that are achieving a lower return on their capital. For these corporates, it makes sense to put up their capital to capture the same return for their own shareholders.
The French labour market does not appear to react to changes in unemployment, the economic cycle, competitiveness and profitability for French companies – which is quite unusual when compared to other eurozone countries. In his latest column for FTSE Global Markets, Patrick Artus, chief economist at Natixis, analyses why the French labour market is indeed so particular, looking at four key variables: the presence of unions; the minimum wage; employees’ bargaining power; and the nature of wage negotiations.
In a guest commentary for Real Deals, Graham Olive, head of acquisition and strategic finance for Northern Europe at Natixis, explores the developing dynamics in the global food and beverage sector. He argues that although the sector may not be as safe for investors as it once was – due in part to demographic/environmental pressures and increased transportation costs – acquisition multiples are holding up well. A number of supply-side drivers are ensuring an attractive deal pipeline, while there has also been a steady flow of Asian inward investment into the sector.