07 February 2012
Securities lending providers are reporting big changes in the Dutch securities lending market place as a result of the post-Lehman pull back and sovereign debt crisis fallout. [readmore]24 January 2012
Brazil’s exchange, BM&FBovespa (BVMF), has been investing heavily in technology in order to attract more volumes and it’s working. Investment managers implementing long/short strategies and high frequency traders are moving in and consequently, have pushed the demand for securities lending services to record highs. [readmore]10 January 2012
Despite a deteriorating eurozone outlook eating away at Luxembourg’s financial services industry, bright spots are on the horizon. [readmore]20 December 2011
After Greece’s bailout, a domino effect across Europe toppled Ireland and Portugal with Spain widely believed to be next in line. As it turned out, it would be Italy that would grip markets this summer as bond rates crossed the crucial seven per cent threshold. [readmore]06 December 2011
The UK is facing the longest recovery since the end of the First World War. Domestic demand is expected to shrink throughout 2012 and the labour market remains slack. [readmore]22 November 2011
Germany’s economic outlook has deteriorated noticeably on the back of increasing expectations of a eurozone recession. But the country is still expected to outperform most others in the region albeit at a lower rate of growth than earlier forecast. [readmore]08 November 2011
Japan’s economy has rebounded remarkably well after the devastating earthquake in March, considering the state of the global economy. Still, its fiscal policy will need to be expansionary to facilitate reconstruction efforts, says PIMCO’s Asia-Pacific Portfolio Committee. [readmore]25 October 2011
While slowing growth in Asia hits the headlines, some commentators are pointing to bright spots such as Indonesia, where strong fundamentals are prompting economists to forecast a robust economy for the long-term. [readmore]11 October 2011
China might be headed for trouble during a time of global economic uncertainty because of its “shadow banking” system - will the country’s regulators continue down the path of reforms intended to increase market liquidity? [readmore]27 September 2011
Slow and steady are the two words that Reeve Serman, head of securities lending trading and market execution at RBC Dexia, uses to describe the Canadian securities lending market. [readmore]13 September 2011
Taiwan’s economy is “like a lava cake – hot on the inside”, writes Nomura analyst Jesse Wang. Despite global headwinds, the banking sector remains resilient, property prices will likely be sustained and though the technology sector is sure to hit a soft patch, the investment firm remains positive in the long-term. The economy is expected to grow a healthy 4.8 per cent this year, according to government figures. [readmore]30 August 2011
The Austrian economy’s recovery has started to sputter. As a whole, GDP is expected to rise 3.1 per cent this year. However, this is a reflection of a strong first half followed by a slump, according to Bank Austria’s latest business indicator report, which notes that dampened consumer and industrial sentiment persist, and that foreign trade, which had fuelled the upturn to this point, has lost momentum. [readmore]16 August 2011
From a largely rural country recovering slowly from conflict a generation ago, Malaysia has fast become one of the region’s economic powerhouses. It’s now the third-largest economy in the region, and in the top 30 in the world. Moving from mining and farming as the country’s core industries, it has become a high tech centre with a range of industries that bring in overseas cash - including natural resources, tourism and manufacturing. It is also a major centre for Islamic banking. [readmore]02 August 2011
The financial crisis has generally not been too kind to the emerging market economies of Central and Eastern Europe. As investors sought if not a flight to quality then a flight to comfort, money was pulled out of the smaller markets in favour of more established destinations, reducing liquidity and growth. [readmore]19 July 2011
While the Australian market did not technically fall into recession - one of the few Western economies to be able to ride the global financial storm - there has been a severe impact on the markets in the country, with securities lending affected as a result. [readmore]05 July 2011
The new markets have come along way since freeing themselves from oppression. But many still have more to do. [readmore]21 June 2011
And so the dominos are falling. First Greece, then Ireland and now Portugal. As one of the PIIGS countries, along with Italy and Spain, Portugal has found the financial downturn hard work, with an EU bailout just around the corner. [readmore]7 June 2011
A decade ago, Ireland was held up as a model for how the European Union was bringing countries wealth and comfort. The Celtic tiger roared as the low-taxation environment brought billions in fund assets to the nation, creating opportunities in the middle and back office, international companies relocated their headquarters, and Irish firms (and individual investors) expanded outwards. [readmore]24 May 2011
For a country still technically at war, South Korea is doing pretty well. Following the occupation of the whole of Korea during the World War II, the peninsula became the focus of the new Cold War in the 1950s, with American and Australian troops fighting communists. Although there has been a ceasefire and an uneasy truce since 1953, hostilities have never formally ended and the border between North and South remains the most fortified in the world. [readmore]10 May 2011
With the possible exception of Iceland, Greece has suffered the most as a result of the financial crisis - although, perhaps suffered is the wrong word, as many experts feel the governments of the past decade or so have brought the problems on to themselves. [readmore]26 April 2011
Along with Asia, Latin America is the big hope amongst the financial community for long term high growth, innovative product development and a range of opportunities. As one of the BRIC countries alongside Russia, India and China, Brazil is at the forefront, but there are a number of other territories where much is expected. [readmore]12 April 2011
The economic crisis has focused the global banking world into an area where excitement was already strong. Pretty much everyone now agrees that Asia is where everything is happening. And Singapore, as one of the most well-established markets, is reaping the benefits. [readmore]29 March 2011
Although some investors take political considerations in mind when looking whether to operate in Israel, the market has done surprisingly well over the past few years. [readmore]15 March 2011
As the markets tumbled in the past few years, Asian asset owners - like their counterparts across the world - took a look at their participation in the securities lending industry and, in many cases, reduced their exposure or withdrew from the market. [readmore]01 March 2011
Only 20 years ago, the vast majority of Eastern Europe was covered by the monolithic Iron Curtain of Soviet rule. It’s hard to believe that now, especially when visiting the countries - the main cities anyway - and it’s impressive to see how far they have come in terms of infrastructure and commerce. Estonia, for example, has one of the best broadband infrastructures in the world. [readmore]15 February 2011
With billions of dollars worth of black gold buried under the desert sand, the oil rich countries of the Middle East have always had a huge financial impact on the rest of the world. But until recently, most did not have the developed financial infrastructure that was seen in the West. [readmore]01 February 2011
Spain has been hard hit by the global economic downturn. The country has long had a significant focus on the property market - anyone who visits one of the Costas will know that new developments have been springing up rapidly, with deals for ex-pats from across Europe luring them to a life of sun, sea and relaxation. [readmore]18 January 2011
As one of Europe’s financial powerhouses, France was hit hard by the economic turmoil that engulfed the markets in 2008. Some government support was needed for a couple of the country’s major banks, and the country was also hit by two major frauds - it was one of the major losers from the Madoff affair, and Societe Generale also faced heavy losses when trader Jerome Kerviel lost almost five billion euros arbitraging discrepancies between equity derivatives and cash equities. [readmore]07 January 2011
The Grand Duchy of Luxembourg is one of those countries that seasoned Euro travellers often miss out on - a tiny dot on the map, little is known about its history, its culture or its attractions. But in the financial world, Luxembourg is a colossus that has been punching above its weight for decades. [readmore]14 December 2010
The World Cup earlier this year put a real focus on South Africa, showing it as a modern vibrant nation that - while not without its problems - is a beacon to the rest of the continent. 20 years after Nelson Mandela’s release and the beginning of the end of apartheid, the country is increasing its wealth and open for business to the wider world. [readmore]30 November 2010
The Dutch equity market is currently the fifth-largest in Europe, some achievement for a relatively small country. But it’s not surprising; as one of the world’s most advanced countries when it comes to pension funds, there is a huge amount of investment opportunity. [readmore]16 November 2010
Last month, Hong Kong took over from Japan as Asia’s largest fees market for stock lenders, with pensions, mutual funds and banks earning USD 245 million from loaning the territory’s shares, compared to Japan’s USD 241 million. These figures are only one part of the story; while Japan’s growth may not be the same as in the rest of the region, it still has twice the volumes of securities on loan as Hong Kong. [readmore]02 November 2010
With an economy so dependent on the United States, it was perhaps inevitable that Mexico has found the past couple of years a struggle. Around 80 per cent of the country’s exports go to its neighbour, and it also receives significant inflows from tourism and other leisure activities. [readmore]19 October 2010
Russia remains a country of contrasts and unpredictability. It has one of the world’s greatest reserves of natural resources, and many of the world’s billionaires are Russian. Its economy has performed reasonably well over the past decade, and even during the financial crisis of the past couple of years it has done ok. It has an educated and international-looking population, and the reforms over the past few years have encouraged more and more inward investment. [readmore]05 October 2010
At over USD300 billion a year, the US equity lending market dwarfs that of other markets, and represents almost half of the global securities lending industry. But as the biggest market, it was in the eye of the storm when the financial crisis hit, and has taken some time to recover. [readmore]21 September 2010
With an enormous population, a well-educated and committed workforce, and a legal and financial infrastructure that is at least recognisable to major financial institutions, India is set to become a major financial player, and the structure for a booming securities lending market is in place. But it’s not quite there yet. [readmore]07 September 2010
As the centre of Europe’s financial services industry, and a global leader in the securities lending market, the UK has been hit hard by the downturn. Several of the country’s leading banks have required state support, job losses run into the tens of thousands, and market activity has fallen sharply. [readmore]24 August 2010
While the Australian market did not technically fall into recession - one of the few Western economies to be able to ride the global financial storm - there has been a severe impact on the markets in the country, with securities lending affected as a result. [readmore]10 August 2010
It’s holding the football World Cup in 2014 and the Olympics in 2016. It’s been on the list of many of the most forward-thinking investors as a place to watch. Its economy is booming and its political clout is growing. No longer an emerging market, Brazil has staked its claim as a major player on the world stage. And funds are pouring in. [readmore]27 July 2010
Not waving, not drowning. And in the holiday season, not really leaping or bounding, either. Italy’s securities lending industry has certainly suffered over the past couple of years, but it has seen steady growth since the start of the year. [readmore]13 July 2010
The tiny city state of Singapore is a major Asian financial market, but securities lending has not yet made a major impact. While the likes of derivatives and other complex financial instruments play a big role, administration is key to the country’s success. [readmore]29 June 2010
Being the neighbour of the largest financial market in the world has its positives and its negatives, but as the glare of the spotlight focused on Wall Street, the Canadian securities lending market was quietly going its own way. It’s one of the few major Western economies that didn’t need to bail out any of its banks. [readmore]15 june 2010
The German securities lending and repo markets are a significant part of the wider European market. German government bonds are considered high quality and highly liquid collateral and are very desirable. There is a lot of activity surrounding them and increasingly so in a market dominated by a desire for high quality assets. [readmore]01 June 2010
Compared to other territories, the securities lending industry in Hong Kong has not been hit as hard by the credit crunch, and business is picking up in the first half of this year. But the number of participants has fallen, in part due to increased conservatism amongst lenders, and consolidation has meant that the big firms have got bigger, while smaller companies have disappeared from the radar. [readmore]
