MiFID II: Fixed income research ‘won’t change’ through unbundling

first_imgThe majority of respondents, 83% and 58%, respectively, said they would use fewer research providers once the new rules come into effect, and that spending on FICC research would increase.An overwhelming majority (86%) said a reduction in the number of research providers would not hurt their funds’ performance. This, AMIC said, pointed to a potential oversupply of research.The vast majority of respondents said they expected to be compliant by the 3 January deadline for research cost unbundling, although more than 60% said they were not yet compliant.Increasing in-house FICC research capacity is on the agenda for a third of respondents, while 68% indicated they did not plan to do so.The world according to MiFID II cost unbundlingMore than 60% of asset managers with global activities plan to pay separately for fixed income research, according to the survey. The remainder largely planned to pay for research in non-EU jurisdictions only for EU clients (31%), while 8% said they would segregate their EU and non-EU businesses.Patrick Karlsson, secretary to the ICMA AMIC, said the figures showed MiFID II would have a global effect.EU and US regulators recently said non-EU asset managers could continue to bundle trading costs and research costs as long as the two were distinguishable from each other. The US Securities and Exchange Commission (SEC) said it would grant this relief for 30 months.Speaking at an ICMA AMIC event yesterday, Ross Barrett, capital markets specialist at the UK’s asset management trade body, the Investment Association, said the SEC’s announcement was very important, but guidance from the European Commission had solved the issue “for the rest of the world”.“And that does matter,” he continued, “because MiFID II is a new bar, it’s a higher bar that doesn’t exist anywhere else in the world.”Asking managers to comply with the rules in other jurisdictions that in many case had rules to the opposite – such as the US – was not acceptable, he said.Chris Devain, chairman of the European Association of Independent Research Providers, said asset owners were key to changing practices in non-MiFID II jurisdictions.Once asset owners both in Europe and the US “get a flavour and taste for some of the reports that will come out of Europe and that increased transparency” they could put more pressure on US firms that deal internationally to comply with MiFID II research unbundling. The majority of investors think the quality of fixed income, currencies and commodities (FICC) research will not change in the wake of MiFID II rules on research cost unbundling, according to a survey carried out by the International Capital Market Association (ICMA).However, roughly under a third (32%) said they believed it would get worse, and 14% that it would improve.The survey was of members of the ICMA Asset Management and Investors’ Council (AMIC) and was carried out last month. It sought to discover firms’ intentions and progress regarding the implementation of MiFID II research unbundling requirements specifically in relation to FICC research.Just under half (46%) of the investors said a significant majority (75% or more) of their existing FICC research providers had not yet approached them about potential pricing arrangements.last_img read more

Z4 Products gives Deery Series awards

first_imgAMES, Iowa (March 24) – Two drivers receive awards from Z4 Products at each Deery Brothers Summer Series event this season. Both the pole starter and the Sunoco Race Fuels drawing winner for all IMCA Late Model tour features get bottles of leak sealer and cooling conditioner from the fourth-year sponsor from Ames, Iowa.The 28th annual series opens Saturday, April 5 at Crawford County Speedway. The finale is Friday and Saturday, Oct. 3-4 at West Liberty Raceway. More information about Z4 Products is available by calling 515 231-0809. “Adding the Z4 products to these two areas of recognition really enhances the prize package of fluids drivers are already receiving,” said IMCA Marketing Director Kevin Yoder. “Z4 is a local company to partner with this series and we couldn’t be happier to have their unwavering support.”last_img read more

Cori “Coco” Gauff Of Delray Beach Makes a Historic Run at Wimbledon

first_imgIt’s easy to forget that Cori “Coco” Gauff of Delray Beach is only 15 years old. In her Grand Slam debut, Gauff beat Venus Williams, a five-time champion, in the first round at Wimbledon. Gauff is the tournament’s youngest player and has said in previous interviews that she is inspired by the Williams sisters.Friday was a rough match for Gauff who was up against Slovenia’s Polona Hercog. Gauff was down a set at and lost her mixed doubles match but then bounced back and won. In a press conference, Gauff stated that she was confident she could win even though she was behind in the second set.“I was like, ‘I can fight back—I just need to hold serve and then break,’ ” Gauff said in an interview after her big win.Gauff’s father, Cory, is the owner of Paradise Sports Lounge in Delray Beach. Many Delray Beach tennis fans would go to the lounge in support of Gauff. The lounge has hosted watch parties for each of Coco’s Wimbledon matches.last_img read more

Ricky Ponting picks the Aussie bowling lineup over India’s ‘every day of the week’!

first_imgAdvertisement io1lgiNBA Finals | Brooklyn Vsa70xgWingsuit rodeo📽Sindre E4( IG: @_aubreyfisher @imraino ) 7kt7Would you ever consider trying this?😱1dbontCan your students do this? 🌚78oRoller skating! Powered by Firework The coach of Australian cricket team, Ricky Ponting would have picked Australian bowling lineup ahead of Indian bowling attack ‘every day of the week’. Ricky Ponting told exactly this after the series win against Pakistan in the  official website of Australian cricket board.Advertisement India are currently well ahead of Australia in terms of points in the ongoing Test Championship. India have demolished two test sides, South Africa and Bangladesh at home quite brutally. The pacers of Indian cricket team are finally getting the recognition they deserve.Advertisement At this moment, Ricky Ponting tried to put some pressure on Indian bowlers with his comment. India will play against Australia in a 4 match test series next year. So, they will certainly remember these words of Ricky Ponting ahead of the series.According to Ponting, Australia have more variations in the bowling lineup than India. Mitchell Starc is a very much special bowler for Australia. On the other hand, Nathan Lyon is also successful in Australian condition. Ponting thinks that Ashwin and Jadeja are not that much good in Australia. However, Bumrah and Shami are consistent performers for India. Umesh and Ishant are also doing well; but still they are behind Australia in terms of variety.Advertisement Perils of Social Media: Hobart Hurricane’s Emily Smith handed a one-year suspension over Instagram post Advertisementlast_img read more

A unique avenue to drive agriculture’s message into the city

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Continuing the mission of advocacy and outreach into Central Ohio, Franklin County Farm Bureau was seeking out a way to expand their message and communicate with those that aren’t all that close to the farm, both in distance and understanding. So, they recently acquired Edible Columbus magazine.“Edible Columbus is a print, community-based publication published four times a year, and distributed free to the public,” said Colleen Leonardi, the magazine’s Editor-In-Chief. “From sustainable agriculture to seasonal cooking to locally sourced restaurants, breweries and distilleries, our mission is to create fresh, beautiful content to engage readers in our food, our region and our culture, season by season.”Leonardi said the partnership with Franklin County Farm Bureau, a grassroots organization that works to support Ohio’s thriving local food and farming economy, compliments what they do at Edible Columbus.Edible Columbus has a yearly reach of 100,000 readers in the Central Ohio area. The magazine is available at the locations of local businesses that advertise within the publication and is also received by subscription.“The goal is to utilize the publication to continue to promote all of the things that we value as an organization, including safe, healthy, affordable food, as well as conservation, clean water and access to markets for area producers.” said Steven Berk, Organization Director for the Franklin County Farm Bureau.With the acquisition of Edible Columbus, Franklin County Farm Bureau hopes to generate operating funds through advertisers but there is also going to be an emphasis on generating membership through this non-traditional outreach.“There is always a revenue aspect anytime that you run a business, so that part does factor into it,” Berk said. “Even more than that, the reason we specifically went with purchasing a magazine is that we really wanted to expand our platform and our brand. People know Farm Bureau as this organization that promotes consumer advocacy and consumer choice and farming in the Buckeye State, so we wanted to use that and expound that message through the magazine.”For the past four years, Franklin County Farm Bureau was a sponsor and bought ad space in Edible Columbus, so they already knew quite a bit about the magazine’s objectives and audience and thought it would be a great fit for their portfolio when the opportunity to acquire it presented itself.“The Franklin County Farm Bureau Board of Trustees is a very forward-thinking, progressive and engaged group and they jumped on this proposition,” Berk said. “I think more county Farm Bureaus are interested in what we are doing here and, of course, Farm Bureau is always looking for unique ways to reach consumers.”last_img read more

A Masterclass In Building a Motion Graphics Reel

first_imgTake a masterclass in building your motion graphics reel to sell yourself in the right way.Whether you are a motion graphics artist, film editor, colorist or director of photography, more often than not your reel is a vital part of your ability to get work. Knowing how to build a reel by picking the right music, selecting the right shots, setting the pace, flow and chronology of the reel and understanding how all these things will be subconsciously interpreted by the viewer is a dark art. Thankfully Carey Smith from Division05 has put together a superb extensive masterclass that takes you through all you need to do, step-by-step, to create a killer reel.Although the following videos are aimed at a motion graphics user, there is zero reason that editors, directors of photography or anyone else building a reel cannot take away valuable gems from this series!In Part 1 Carey sets the stage for the process by inviting a willing volunteer to submit their current reel and all of their portfolio footage to be made over in his professional hands. It’s fascinating to see where the reel started compared to where it eventually ends up. To see the final re-imagined reel jump to 5:25 in Part 4 – the last video below.Building a Winning Reel from ScratchIn Part 2 Carey works through several different music tracks to select the right one and dissects the pros and cons of each one, working out the overall pace and feel, where the breaks and builds are and much more.First impressions count and in part 3 Carey starts by building an opening title card to set the stage for the rest of the reel. It’s brilliant to be able to see his very detailed work in sketching out ideas, what worked and what didn’t, and to hear all of the thought that went into the logo design. In the second half of part 3, Carey starts the edit of the reel and explains why it’s so crucial to get right so your audience is engaged from the start.Why put so much effort into the intro?… The point is the audience is meeting you for the first time, and it’s probably in the context of seeing a whole lot of other reels, and so you need to be able to differentiate yourself from all those other reels, otherwise no one is ever going to remember that you even exist. And the best way to do that is to communicate something about yourself that’s authentic. That who you are and what you have to offer is inherently different.In the last part of the masterclass, Carey walks through how to select the very best of what you have to showcase and how to structure your reel so it zips right through. He shares 5 excellent principles for anyone building a reel:If you love what Cary has to offer subscribe to his YouTube Channel here or check out this previous PremiumBeat.com post on Understanding Composition.last_img read more

Dalit hacked to death by ‘upper caste in-laws’ in Gujarat

first_imgIn yet another case of killing of Dalits by upper caste people in Gujarat, a 25-year-old Dalit was killed, allegedly by his upper caste in-laws in Varmor village of Ahmedabad district on Monday last.According to the Ahmedabad district police, Haresh Kumar Solanki was hacked to death by eight men outside his wife Urmila Zala’s house in the presence of a women’s helpline team that was attempting to negotiate with her.So far, none of the eight accused who have been named in the FIR have been arrested and Urmila’s father, Dashrathsinh Zala, has been named the prime accused.Solanki, from Gandhidham in Kutch, married Urmila, belonging to the Rajput community, almost six months ago but her parents had brought her back to their village near Ahmedabad in May.Urmila, who is two months pregnant, was missing, said police.“Condemn the brutal killing of Hareshbhai Solanki. Caste violence and killings are not a part of Gujarati culture. These developments are alien to our state & reflect the failure of the government to curb anti social activities in Gujarat,” veteran Congress leader Ahmed Patel said on Twitter reacting on the incident.In June, a Dalit deputy sarpanch was killed in a village in Saurashtra region, allegedly by a group of men from upper castes.last_img read more

Delhi Test: Sri Lanka salvage draw, India win record 9th successive series

first_imgDhananjaya de Silva’s heroic hundred and Roshen Silva’s gallant, unbeaten 74 helped secure Sri Lanka’s morale-boosting draw in final Test against India, who won the three-match series 1-0 on Wednesday.Playing his first match in the series, de Silva batted through pain to score 119 before retiring hurt.Debutant Silva and Niroshan Dickwella then batted out the final session as the tourists secured their second draw of the series at the Feroz Shah Kotla Stadium.Sri Lanka, who finished on 299-5, could not chase down the 410-run victory target but played out of their skin to salvage some pride after being outplayed in the series. (Virat Kohli equals Ricky Ponting’s world record of most successive Test series wins as captain)India’s ninth consecutive Test series triumph puts the world number one into an elite club which also includes Australia and England.Resuming the final day on a precarious 31-3, Sri Lanka lost Angelo Mathews early in the morning session but de Silva and Dinesh Chandimal resisted India for two hours as the smog-hit Test finally saw a mostly sunny day.India tasted success in the sixth over of the day when Mathews was caught in the slip off Ravindra Jadeja for one.Dropped three times in his first innings knock of 111, Mathews was evidently less lucky in the second, given out on a no-ball which went undetected by umpire Joel Wilson.Jadeja bowled Chandimal, then on 24, with a drifted, sharply-turning ball but replays confirmed the left-arm spinner had marginally overstepped.Nimble-footed de Silva did not allow the situation to bog him down and scored freely, especially against the spinners, while Chandimal looked content playing the second fiddle.advertisementAshwin ended the 112-run partnership when he lured Chandimal out of the crease and spun it past his bat to hit the stumps.The Sri Lanka captain, who smashed a career-best 164 in the first innings, made 36.Ashwin had a chance to catch de Silva, then on 110, off his own bowling but the off-spinner spilled the full-blooded drive.By then, de Silva was struggling with his thigh injury and the 26-year-old eventually hobbled off the field, passing on the baton to Silva, who proved equal to the challenge.De Silva’s third Test century contained 15 boundaries and a six off Ashwin.Even after his exit, Silva and Niroshan Dickwella (44 not out) did not play defensively, raising 94 runs and denying India a wicket in the final session.last_img read more

Tressel aims to continue his mastery of Michigan

For many Ohio State football coaches, success isn’t measured in wins per year or bowl victories. Instead, success is measured by a coach’s record against Michigan.The storied rivalry has become so important in part due to the outcome’s national implications year to year. Since 1935, the game has determined the Big Ten champion 22 times and had an effect in determining the eventual conference champion an additional 24 times.Theses statistics have become even more pronounced recently, as either Ohio State or Michigan has claimed at least a share of the Big Ten title every year since 2001.Consequently, many coaches’ careers have been validated or ruined based on their ability to beat that school up north.John Cooper was one such coach who suffered mightily for his lack of success in the rivalry. In Cooper’s 13 seasons as Ohio State’s coach he had a career record of 111-43-4. But he was only 2-10-1 against Michigan and failed to ever win a game in Ann Arbor. Cooper was fired following the 2000 season.Where Cooper failed, his successor, Jim Tressel has excelled. While Cooper downplayed the rivalry, Tressel has embraced it since his first year at the helm.“I can assure you that you’ll be proud of our young people, in the classroom, in the community and especially in 310 days in Ann Arbor, Michigan,” Tressel announced, shortly after being hired in 2001. That year, Tressel led the Buckeyes to a 26-20 victory. The win in Ann Arbor served as the Buckeyes’ first in 14 years.Tressel has dominated Michigan during his tenure, posting a 7-1 record against the Wolverines. He is one of only three Ohio State coaches to maintain a winning record in the rivalry, among those who coached at least eight games. The other two coaches are Woody Hayes (16-11-1) and Earle Bruce (5-4).“I’ve known before I was even part of the series of the significance of the game, and the excitement of the game,” Tressel said. “It’s part of you if you like football and you’re from Ohio State or you’re from Michigan, if you’re in the Big Ten. You just grow up knowing that we’re fortunate to be a part of this game.”Tressel went on to say that memories of past Ohio State-Michigan games are in the forefront of past players’ and coaches’ minds. Those memories are even more predominant than bowl games and national rankings, and that’s what is at stake every time the teams play.As for this year’s game, Tressel explained the Buckeyes will not be overlooking a struggling Michigan team. “There’s a reality in life that if you’re taking anything for granted, you’re probably not thinking right,” Tressel said. “I’d like to think our guys don’t take anything for granted, although I’m sure we all do take things for granted, but this wouldn’t be one of them.”Tressel downplayed the possibility of the team being overconfident, having already secured a Rose Bowl berth.“I’m not worried about overconfidence because we’ve got enough guys that have played in this game that they know better than that, so if there is and overconfidence, it will get knocked out of their throwback uniforms on the first play.”Tressel’s ability to keep his players from being overconfident has helped lead the Buckeyes to five straight victories over Michigan. The five-game win streak is the Buckeyes’ longest in the history of the rivalry, which they will look to continue Saturday. read more

Arsenal players must stand up – Gilberto

first_imgAfter another dismal season for Arsenal, Gilberto Silva has urged the players to “stand up” and fight for the under-pressure Arsene WengerThe club look set to fail to qualify for the Champions League for a second consecutive season with 13 points separating them in sixth place from Tottenham in fourth.Following a turbulent run at the start of 2018, which saw Arsenal succumb to four consecutive defeats, Wenger came under intense scrutiny with both fans and former players calling for the Frenchman’s resignation.Silva, who was part of the famous “invincibles” squad that Wenger led to an entire season unbeaten in 2003/04, has defended the coach and has questioned the players attitude at the Emirates this season.“I worked with Wenger for such a long time. As I know him, he’s a person who loves the game and wants to win things. He sacrifices himself for the players and for the club.” Silva told Sky Sports.Jose Mourinho is sold on Lampard succeeding at Chelsea Tomás Pavel Ibarra Meda – September 14, 2019 Jose Mourinho wanted to give his two cents on Frank Lampard’s odds as the new Chelsea FC manager, he thinks he will succeed.There really…“At the moment things are hard but he’s trying the best he can to handle the pressure and get the best out of his players. All the time the pressure is on him but there comes a time when you have to question what the players can bring back to him because he trusts them.”Arsenal have recently had an upturn in form with the Gunners having won their previous three games and having progressed to the quarter-finals of the Europa League.But Silva believes that it is the players’ responsibility to ensure the results come Arsenal’s way and has urged them to fight for the Frenchman.“It’s about somebody standing up and holding the pressure for somebody who believes in them. All the questions in the media talk about whether it’s time for Wenger to go or if he lost his appetite.” said the 2002 World Cup winner.“It’s not about this, it’s about the players at the club supporting him as long as he stays in the club.”last_img read more