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    Realized moments of higher order computed from intraday returns are introduced in recent years. The literature indicates that realized skewness is an important factor in explaining future asset returns. However, the literature mainly focuses on the whole market and on the monthly or weekly scale. In this paper, we conduct an extensive empirical analysis to investigate the forecasting abilities of realized skewness and realized kurtosis towards individual stock's future return and variance in the daily scale. It is found that realized kurtosis possesses significant forecasting power for the stock's future variance. In the meanwhile, realized skewness is lack of explanatory power for the future daily return for individual stocks with a short horizon, in contrast with the existing literature.

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    Computershare (CPU:ASX) and SETL have today demonstrated Australia’s first working blockchain solution at Computershare’s annual Investor and Analyst day. read more...

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    It is decided upon discussion that starting from April 27, 2016,   1. The trading fee rate of the metallurgical coke and coking coal futures will be adjusted from 0.018% to 0.036% of the turnover.   2. The trading fee rate of the iron ore futures will be adjusted from 0.018% to 0.03% of the turnover.   3. The trading fee rate of the PP futures will be adjusted from 0.018% to 0.024% of the turnover. 

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    In the fiscal year ended March 31, 2016 (from April 1, 2015 to March 31, 2016), the Group recorded operating revenue of ¥114,776 million (8.1% increase from the same period of the previous fiscal year (i.e.year-on-year)) due to factors such as increases in cash equity trading value and derivatives trading volume compared with the previous year, while, operating expenses were ¥50,925 million (3.7%year-on-year decrease) . As a result, the Group recorded operating income of ¥66,271 million (23.8% year-on-year increase) and income before income tax of ¥67,774 million (23.5% year-on-year increase). In addition, net income attributable to owners of the parent company after tax was ¥44,877 million (30.4% year-on-year increase).read more...

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    ABN AMRO Clearing Sydney Pty Ltd ("ABN AMRO") has paid a penalty of $45,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel ("MDP").read more...

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    Representatives from Australia, Japan, Korea and New Zealand today signed the Asia Region Funds Passport’s Memorandum of Co-operation (MoC).read more...

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    New Zealand investors will benefit from more competition for their investment dollar and more choice of investment options as a result of an international agreement signed today.read more...

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    At the meeting of the Board of Directors held on April 28, 2016, Japan Exchange Group, Inc. resolved to propose the "Partial Amendment to the Articles of Incorporation", as below, for resolution at the 15th Annual General Shareholders Meeting to be held on June 21, 2016.read more...

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    The MNI India Business Sentiment Survey for April showed that business confidence fell for the second consecutive month, albeit marginally, as firms’ financial position deteriorated.   The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell to 62.4 in April from 62.7 in March. The decrease in sentiment this month was led by construction and service sector firms while sentiment among manufacturing companies increased.   Confidence was down 2.3% compared with the same month a year ago and now stands at the same level as the series average. More positively, sentiment is up from the recent trough seen in December which had left it at the lowest for more than a year and a half.   The Reserve Bank of India cut the key policy rate by 25 basis points during the survey period. While it hasn’t impacted business sentiment yet, we expect to see some of its effect in next month’s survey. Note though that monetary easing has tended to provide only a short-term boost to business confidence, and has failed to cause a sustained increase.   In line with April’s rate cut, firms reported that they faced lower debt service costs and found credit more readily available. However, company balance sheets worsened as firms continued to feel the pressure of the high debt and low sales environment which has persisted for more than a year now.   The decline in overall business confidence between March and April came against a set of mixed results in the survey. Production was down, employment unchanged, while orders increased slightly on the month. The pace of inventory building picked up and firms expected stock levels to expand over the next three months given expectations of strong demand. Sentiment towards the rupee remained unchanged but companies faced lower inflationary pressures.   Commenting on the latest survey, Chief Economist of MNI Indicators Philip Uglow said, “A second consecutive decline in the MNI India Business Sentiment Indicator is a reminder that all is not well for India’s largest companies. While sentiment is up from the recent low in December, it is only running at the series average. Meanwhile other measures such as production and orders are running below average, while firms’ financial position deteriorated further in April.”read more...

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    JPX, one of the world’s largest financial marketplaces, has chosen Cinnober for risk monitoring across the entire Japanese market of equities, bonds, futures, options, CDS and IRS. This follows an announcement earlier this year where JPX selected Cinnober for the clearing of the exchange’s listed derivatives market.read more...

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    The latest survey showed that business sentiment rose for the third consecutive month, moving into expansionary territory for the first time since September 2015.     The MNI Russia Business Sentiment Indicator increased 1.6% to 50.8 in April from 50.0 in March. Sentiment is now up 10.4% on the year and above the 12-month average of 48.4.   Companies were significantly less pessimistic about the next three months. Future Expectations of business conditions rose 14.2% to 46.7 in April, from 40.9 in March, the highest since October 2015. While this indicates a growing belief in a potential economic recovery, the figure was still below the series average of 52.9, and also below 50 indicating that pessimists still have the upper hand.      In line with the headline indicator, key activity measures performed better in April. Production increased 4.7% on the month to sit just under the breakeven point at 49.5, while New Orders rose to the exact 50 mark. Companies were also less pessimistic regarding orders and stock levels for the next three months, with future expectations for both measures rising 2.1% and 10.9% respectively, just shy of the 50 level. These results support the view that the long-term decline in the Russian economy may have ended.   Inflationary pressures eased in April. Prices Received fell 6% to 50.3, leaving it at the lowest since July 2015. Despite the recent firming in commodity prices, Input Prices fell to a series low of 50.0.   Following last month’s hefty increase, an increasing number of companies reported that the exchange rate was hindering rather than helping business in April. The Effect of Rouble Exchange Rate indicator fell 8.4% to 44.9 from 49.0, but was above the 2016 Q1 average of 38.2. Expectations for the next three months rose 3.2% to 45.8 from 44.4 in the previous month.   Commenting on the latest survey, Philip Uglow, Chief Economist of MNI Indicators said, “The latest report provides further evidence that the Russian economy could be through the worst.”   “Notably there was a third consecutive increase in sentiment and a significant jump in expectations. Confidence, though, remains at a low level with output and orders still not expanding”.read more...

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    Lessons in Corporate Finance explains the fundamentals of the field in an intuitive way, using a unique Socratic question and answer approach. Written by award-winning professors at M.I.T. and Tufts, this book draws on years of research and teaching to deliver a truly interactive learning experience. Each case study is designed to facilitate class discussion, based on a series ofread more...

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    Liquidnet, the global institutional trading network, today announced the appointment of Thierry Sciard as a non-executive director to the board of Liquidnet Europe. In his new role, Thierry will draw from more than thirty years of experience in the fixed income markets to assist the continued growth of Liquidnet's fixed income trading platform which currently has over 160 global buy-side Members and six sell-side traders signed-up.read more...

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    UCL (University College London) has agreed a £280 million loan with the European Investment Bank to develop its Bloomsbury and UCL East campuses, the largest sum ever lent by the bank to a university.read more...

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    The FSA provides information regarding unauthorized use of bank accounts to relevant financial institutions and law enforcement authorities.read more...

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    Azul Systems (Azul), the award-winning leader in Java runtime solutions, and Pontus Networks, a specialist in improving the performance of software in financial institutions, have launched an Azul Zing®-based edition of PontusVision Thread Manager (PVTM), Pontus’s flagship product which reduces capital and operational IT infrastructure expenditures by improving the way software threads run on specific CPU cores. In a recent benchmark study, the combination of Zing and PVTM helped an investment bank improve the latency of its FX pricing system without changing a single line of code, by reducing the pricing system’s peak latency from receipt of a raw market data tick to sending a FIX market data snapshot to clients by 20X.read more...

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    Euronext has extended its range of ETF listing and trading venues to London, enabling ETF issuers to access the UK investor base alongside its existing Eurozone trading and distribution network. Further benefits to issuers include competitive pricing, superior European cross listing efficiency and reduced time to market. Lyxor today listed the first two ETFs on Euronext London, the Lyxor UCITS ETF FTSE EPRA/NAREIT Global Developed and the Lyxor UCITS ETF Euro Stoxx Banks .read more...

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    BME reported net profit of €42.9 million in the first quarter of 2016, a decline of 8.9% on the year ago figure and 4.6% higher than the figure reported in the previous quarter.read more...

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    FTSE Russell, the global index provider, has launched an innovative new index that reduces exposure within the index to companies associated with fossil fuels while also increasing exposure within the index to companies engaged in the transition to a green economy. To gain this exposure, the FTSE Divest-Invest Developed 200 Index incorporates data captured by FTSE Russell’s innovative new green revenue data model, called LCE, which is set to launch publicly in the coming months. BNP Paribas has licensed the new index to create swaps and structured products.read more...

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    NovitasFTCL acted as M&A advisor to the shareholders of Risk Intelligence Ireland on its sale to Verisk Analytics Inc.  This transaction, in the Insurance data / analytics sector, is our second sale this year of a European Fintech business to a US trade buyer. The business attracted significant interest from Private Equity and trade buyers across Europe and the US. http://www.riskintelligence.ie/press-release-14-april-2016/