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    The 14th annual Dubai Financial Market and Nasdaq Dubai Trading Game, aimed at sharpening the skills of university and school students in the UAE and abroad, has ended with total traded value reaching 5.4 billion dirhams from 16,802 transactions, and the top 13 participants achieving average profit of 35.6 %.read more...

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    The total value of shares traded for the week ending 19 May 2016 amounted to SAR 26.31 billion, decreasing by 9.15% over the previous week; while total stock market capitalization reached SAR 1,539.05 billion at the end of this period, decreasing by 0.17% over the previous week.read more...

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    In this paper, we consider the problem of maximizing the expected discounted utility of dividend payments for an insurance company that controls risk exposure by purchasing proportional reinsurance. We assume the preference of the insurer is of CRRA form. By solving the corresponding Hamilton-Jacobi-Bellman equation, we identify the value function and the corresponding optimal strategy. We also analyze the asymptotics of the value function for large initial reserves.

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    In the present paper, the minimal investment risk for a portfolio optimization problem with imposed budget and investment concentration constraints is considered using replica analysis. Since the minimal investment risk is influenced by the investment concentration constraint (as well as the budget constraint), it is intuitive that the minimal investment risk for the problem with an investment concentration constraint be larger than that without the constraint (that is, with only the budget constraint). Moreover, a numerical experiment shows the effectiveness of our proposed analysis.

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    The portfolio optimization problem in which the variances of the return rates of assets are not identical is analyzed in this paper using the methodology of statistical mechanical informatics, specifically, replica analysis. We define two characteristic quantities of an optimal portfolio, namely, minimal investment risk and concentrated investment level, in order to solve the portfolio optimization problem and analytically determine their asymptotical behaviors using replica analysis. Moreover, numerical experiments were performed, and a comparison between the results of our simulation and those obtained via replica analysis validated our proposed method.

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    In the present work, eigenvalue distributions defined by a random rectangular matrix whose components are neither independently nor identically distributed are analyzed using replica analysis and belief propagation. In particular, we consider the case in which the components are independently but not identically distributed; for example, only the components in each row or in each column may be {identically distributed}. We also consider the more general case in which the components are correlated with one another. We use the replica approach while making only weak assumptions in order to determine the asymptotic eigenvalue distribution and to derive an algorithm for doing so, based on belief propagation. One of our findings supports the results obtained from Feynman diagrams. We present the results of several numerical experiments that validate our proposed methods.

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    This paper investigates the presence of long memory in corporate bond and stock indices of six European Union countries from July 1998 to February 2015. We compute the Hurst exponent by means of the DFA method and using a sliding window in order to measure long range dependence. We detect that Hurst exponents behave differently in the stock and bond markets, being smoother in the stock indices than in the bond indices. We verify that the level of informational efficiency is time-varying. Moreover we find an asymmetric impact of the 2008 financial crisis in the fixed income and the stock markets, affecting the former but not the latter. Similar results are obtained using the R/S method.

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    Upon the announcement that National Futures Association (NFA) president and CEO Dan Roth is retiring, FIA President and CEO Walt Lukken released the following statement thanking him for his service to the industry:read more...

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    The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management oversight of the bank’s operations, and gross misconduct by some of the bank’s staff.read more...

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    Chinese consumer sentiment declined in May, eroding further the significant gain seen in March, as consumers turned more risk averse.    The Westpac MNI China Consumer Sentiment Indicator fell 3.1% on the month to 114.2 in May from 117.8 in April. All components of the headline indicator contributed to the fall, with the most significant adjustment occurring in consumers’ assessment of their household finances, which had a flow on effect on durable buying conditions. The assessment of business conditions fared relatively better, although even there the outlook deteriorated.   Following the more upbeat readings in February and March, the Current Personal Finances Indicator fell 5.5% in May to 104.3, while Expectations for Personal Finances fell 2.8% to 112.8. The heightened uncertainty about family income saw respondents turn more risk-averse when choosing a destination for their savings, highlighted by a series high 56.7% nominating bank deposits as the wisest place for savings. The share of respondents nominating riskier options like wealth management products and real estate declined. Accordingly, reasons for saving turned more precautionary with 33.7% of respondents saving to self-insure against future loss of income.   On spending in general, consumers revised back some of last month’s gain although retained a bias towards increasing spending across most categories. The Durable Buying Conditions Indicator fell 4.2% to 104.0 in May, while sentiment on buying phones, computers and appliances all fell following a strong April.   With the latest official data showing a resumed slowdown in industrial output, consumers tempered their assessment of the business environment. The Business Conditions in One Year Indicator fell 3% to 115.7 in May while the five-year ahead measure declined 0.5% to 134.1.   May’s survey revealed a disparity between consumers in East China and those in Middle/West China. Highlighting the gulf between the developing west, which has been the hardest hit by overcapacity and the slowdown growth, and the relatively more consumption-driven east, consumer confidence plunged 7.6% in Middle/West China compared with a more muted 0.9% drop in East China. The gap between regional centres was even greater; consumer confidence saw a 10.3% rise in Beijing compared with a 6.6% fall in Guangzhou. Note also that while sentiment fell across all three main age ranges, it was the fall in the 34-54 cohort that drove the decline.   Commenting on the latest survey, Chief Economist of MNI Indicators Philip Uglow said, “While headline consumer sentiment declined in May, it still remains above the recent lows seen in Q4 2015, following two strong months in March and April. Still, the latest results saw consumers turning significantly more risk averse, underlining how worried many are about their current and future financial situation.”   Westpac Senior Economist Matthew Hassan said, “Chinese consumers look to be paring back their optimism. That seems understandable given family finances are still reportedly coming under pressure and the hoped for business recovery is yet to show through convincingly. While the overall mood still looks more positive than late last year and key areas such as employment expectations posted a notable improvement in May, the more tentative, risk averse tone to the May survey responses suggests that, at the margin, Chinese consumers are taking a more cautious approach to spending and financial decisions.”

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    Hong Kong Exchanges and Clearing Limited (HKEX) and Thomson Reuters today (Tuesday) signed an agreement for the creation of a new series of Renminbi (RMB) indices.read more...

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    Futures Industry Association of Japan has released the May 2016 edition of its bimonthly newsletter. For browse, please access the following URL.read more...

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    Heidrick & Struggles (Nasdaq: HSII), a premier provider of executive search, leadership consulting and culture shaping worldwide, has appointed Marcus de Luca as a Partner in its Financial Services Practice.read more...

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    Are you looking for a trusted resource to help you add mutual funds to your investment strategy? With straightforward advice and a plethora of specific, up-to-date mutual fund recommendations, personal finance expert Eric Tyson helps you avoid fund-investing pitfalls and maximize your chances of success.read more...

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    Dr Christoph Boschan von dem Bussche (38), Managing Director of Boerse Stuttgart GmbH, is to give up his appointment with Boerse Stuttgart in order to accept a new career challenge. This Monday he has been appointed as the new CEO of Börsenholding CEESEG AG and of Wiener Börse AG.read more...

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    Tullett Prebon Information (TPI), a leading global provider of financial market data, has won Best Data Provider (Broker) at the Inside Market Data awards for the sixth year in a row.read more...

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    Euronext today welcomes ForFarmers, the European market leader of conventional and organic feed solutions for livestock on Euronext Amsterdam.read more...

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    Ongoing commitment to cost, operational and margin efficiencies for clearing members through open access 24 May 2016LCH, the global clearing house, announced today that it will be offering equities clearing on SIGMA X MTF from July 2016. With the addition of SIGMA X MTF, LCH’s EquityClear service will offer clearing across 17 active interoperable European equities trading venues. As a result of this expansion and LCH’s open access approach, users of multiple trading venues will be able to further consolidate their trading activity through one clearing house.read more...

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    Misys has been named as a Leader in Gartner’s 2016 Magic Quadrant for Global Retail Core Banking*, for its FusionBanking Essence solution. read more...

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