Category Archives: Financial Management

Financial Management

Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Saxo Bank Stays With Riis Cycling in 2012

Saxo Bank and Bjarne Riis, owner and manager of Riis Cycling A/S, have announced that Saxo Bank, a sponsor for the cycling team since 2008, will remain co-title sponsor in 2012 with SunGard, one of the world’s leading software and technology services companies.

Bjarne Riis said: “It is indeed a great day for our cycling team. Saxo Bank is an extremely professional company, so I am proud that Saxo Bank has a strong faith in our work and continues to see the commercial benefits in sponsoring our team.”

“Since 2008 we have shown in both words and actions that we are a great match, and I am convinced we will continue to grow together because of the obvious benefits in a long term relationship. The continuity in our partnership also means a lot for the riders and for me personally. Now we can focus all our attention on creating results and the working process of putting together a strong rider group for next year.”

Saxo Bank, the online trading and investment specialist, recently launched Saxo Privatbank, combining traditional banking services with a professional investment universe, and the bank says it has taken a strategic decision to continue the sponsorship in 2012.

In a joint statement, Kim Fournais and Lars Seier Christensen, co-CEOs and co-founders of Saxo Bank, said: “Saxo Bank has always believed it was a sound commercial decision to support Bjarne Riis and the rest of the team but at the same time, it is hard to exaggerate the impact Bjarne Riis has on Danish and international cycling. We have a genuine desire to support Bjarne and provide the team with the necessary resources it takes to stay on top. Bjarne Riis and the team are a huge inspiration and motivation for many young talents, and Saxo Bank is proud to continue to ensure a world class cycling team in Denmark.”

The name of the team will remain ‘Saxo Bank-SunGard Professional Cycling Team’.

Via EPR Network
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Vebnet Announces Partnership With vielife

Vebnet has enhanced its employee benefits, offering to allow global access to an online health and wellbeing solution, by partnering with employee health solutions specialist vielife.

Employers using Vebnet’s reward and flexible benefits technology can now offer their employees a personalised, multi-language and interactive health and well-being service through vielife Online. The service lets employees measure and monitor their sleep, stress, nutrition and physical activity levels and encourages them to make healthier lifestyle choices, while helping employers to improve employee engagement and combat reported rises in sickness absence.

Employees start by taking an online assessment. This forms the basis of a personal report which identifies any areas of concern in their lifestyle and gives practical advice on how to address them. The recommendations can also be tailored to help employees make the most of the benefits their employer provides. Employers can also build lifestyle communication programmes to support employee engagement and employees can regularly re-assess themselves as their lifestyles change.

For Vebnet, part of the Standard Life group, the partnership with vielife provides a multi-modal health and wellness platform that is integrated within its own global employee benefits and reward portal. Importantly, vielife Online’s management reporting capabilities can help employers pinpoint specific staff health and wellbeing issues, creating highly targeted corporate employee health and wellbeing strategies strategies which in turn lead to greater employee engagement with Vebnet’s technology and higher solution return on investment.

Mike Beason, managing director, vielife, said: “As the population ages and organisations downsize to cope with economic pressures, more employers will start taking an interest in the health and wellbeing of their employees.

“Our technology provides a platform for global businesses who want to help their workforce make healthier lifestyle choices. Wellbeing is no longer perceived by employers as just another company perk, rather it’s a highly effective channel for increasing productivity, reducing sickness absence and improving job satisfaction.”

Richard Morgan, director of consultancy, Vebnet, commented: “Our reward and flexible benefits portal is already helping employers to enhance their total employment proposition and this latest addition forms the cornerstone of creating a joined up approach to health and wellbeing strategies.

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Markit BOAT to Provide First CFD Trade Reporting System to Saxo Bank

Markit, a leading, global financial information services company, has announced that Saxo Bank, the online trading and investment specialist, will begin to report its contract for difference (CFD) trades via Markit BOAT, the trade reporting platform, in September 2011.

Saxo Bank will become the first financial institution to report its CFD Single Stock trades on a voluntary basis, in a bid to bring greater transparency to this fast growing market.

Sophia Kandylaki, Director, Head of Markit BOAT at Markit, said: “We are excited that such a large player in the CFD market has decided to report its trades via Markit BOAT. We will be enhancing our platform to identify CFD trade reports with a unique trade flag. This will differentiate these trades from all other cash equity trades reported to our venue and support Saxo Bank’s efforts to make this market more transparent.”

Claus Nielsen, Head of Markets at Saxo Bank, said: “Saxo Bank has always been a leader and innovator when it comes to transparency and fairness in the trading arena. We are committed to set new standards and by taking an over the counter CFD product like CFDs, and publishing our execution to Markit BOAT, we will bring added value to our clients. This initiative makes the CFD product 100% comparable with the listed stocks traded at the exchange which will have a positive impact on the industry.”

CFDs are over the counter (OTC) contracts between two parties in which the buyers pay the sellers the difference between the current value of an asset and its value at contract time. CFD trades do fall within the scope of the European Union’s Markets in Financial Instruments Directive (Mifid) but trades are not required to be reported to the market.

Markit BOAT gives users access to trade reports on an average of EUR 375 billion of OTC trades in equities every day. This is equivalent to approximately 70% of the daily volumes reported on all European OTC equity markets.

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Saxo Bank Launches Retail FX Trading Platform ForexTrading.com

Saxo Bank, the online trading and investment specialist, has announced the launch of ForexTrading.com which will offer retail investors a select range of FX crosses and CFDs with variable spreads – as low as 0.8 pips. ForexTrading.com provides investors with a range of basic functionalities designed to make trading flexible and straightforward.

ForexTrading.com is powered by Saxo Bank, which is renowned for aggregating liquidity from the world’s leading FX dealers. ForexTrading.com gives traders the ability to trade in the world’s most liquid currency pairs and global commodity CFDs at very competitive spreads.

Claus Nielsen, head of markets at Saxo Bank, said: “Saxo Bank will continue to cater for high-net-worth and institutional traders who increasingly demand usability, mobility, performance, and service when executing online trades and orders. At the same time, ForexTrading.com will appeal to Forex and CFD traders who are price sensitive and do not require a personal service, but still want the ability to utilise an award-winning online trading platform.

“We believe the retail foreign exchange market will maintain its growth trajectory for the next 10 to 15 years and we want to cater for high-net-worth investors as well as high-frequency traders to who tight spreads and deep liquidity are essential. There is no additional commission on ForexTrading.com and we see ForexTrading.com as bringing new competition to the smaller competitors, outside the tier-one banks, in the market focused on foreign exchange.”

The minimum initial deposit when opening an account with ForexTrading.com is $2,000 or equivalent and no interest will be paid on funds on deposit. ForexTrading.com will only offer English support and service and ForexTrading.com only supports retail trading accounts.

More information on Forextrading.com forex accounts can be found on the ForexTrading.com website.

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Saxo Bank Announces Ole Sloth Hansen to Visit Dubai

Saxo Bank, the online trading and investment specialist, has announced that Ole Sloth Hansen, senior commodity Manager at Saxo Bank, will be visiting Dubai in early June to discuss with investors and the financial media recent trends in commodity prices, which have risen dramatically over the past two years.

Total investments into commodities have risen 250 per cent from US $159 billion in 2008 to $400 billion in 2011, according to Barclays Capital, with investments in gold and silver rising three-fold during the period.

Hansen recently observed that investment flows into commodities have been very strong due to a combination of strong fundamentals and new inventions, such as exchange traded funds (ETFs), which has made the sector accessible to everyone.

“ETFs have had a strong impact on the commodities market, making them accessible to everyone from the biggest hedge fund managers to the retail investor,” said Hansen.

“May has been a month of setbacks across most commodities. Prior to this, commodities had been outperforming bonds, equity and currency investments, so it is most likely that this deceleration is just a temporary correction in an overall bullish market.”

Ole Sloth Hansen is a specialist in traded futures with over 20 years experience, both on the buying and selling side. He joined Saxo Bank in 2008 and today works as a senior manager analysing a diversified range of products from fixed income to commodities. He previously worked for 15 years in London, most recently for a multi-asset Futures and Forex Hedge fund where he was in charge of the trade execution team.

Ole Sloth Hansen will be in Dubai 7/8 June to discuss the commodities landscape at present and the new strategies for entering the market through ETFs.

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Saxo Bank Provides Retail Derivatives Trading to TD Waterhouse

Saxo Bank, the specialist in online trading and investment, has announced it will provide TD Waterhouse, the UK’s leading execution only broker, with an online derivatives trading platform for retail investors. Through Saxo Bank’s technology and service, TD Waterhouse will enhance its offering to enable customers to take control of their trading through TD Derivatives Trading for Contracts for Differences (CFDs), FX and Futures.

The TD Derivatives Trading account, which will be provided by Saxo Bank, has been developed to respond to the needs of sophisticated derivatives traders. Clients can tradeCFDs with commissions starting from 0.15% (minimum £15) on all markets. They can also take advantage of one of the leading FX Trading offerings available, with access to more than 160 FX currency pairs. The account also includes Futures, enabling customers to trade over 450 instruments on live market prices from exchanges around the world. TD Derivatives Trading clients can also create their perfect trading environment using two, free customisable platforms that can be adapted to their exact specifications.

Darren Hepworth, trading and customer services director at TD Waterhouse commented: “We always strive to ensure our customers have access to the best products and services. With the launch of TD Derivatives Trading, our customers can take control of their trading needs and create their perfect trading environment.”

Albert Maasland, CEO of Saxo Bank London added: “We are thrilled to be working with the preeminent execution only broker, TD Waterhouse. Their decision to adopt Saxo Bank’s technology and service are testament to the effectiveness of our offering in the retail market place. We strive to develop a collaborative business model, and the launch of this service reinforces the strength of our Institutional solutions.”

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TradingFloor.com Releases Video on Margin Pressure

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the first quarter earnings wrap and specifically what happened to margin pressure.

It seems margin pressure hardly emerged and that its effects (on the back of higher commodities), especially for consumer driven companies, will instead first kick in later in the year. The underlying momentum for stocks remains strong. Pro-cyclical companies, in particular, posted good results largely driven by emerging markets), and this was confirmed in their earnings outlooks for more growth ahead – which is good news for stocks and the overall economy. Peter Garny, equity strategist for Saxo Bank discusses these issues in TradingFloor.com’s latest video.

With the larger companies in the S&P 500 in mind Peter discusses how many investors at the beginning of the earnings season were talking about a margin squeeze. In actual fact margins have actually expanded slightly in April, as well as year on year. So, margin pressure is by and large not evident yet, and the only disappointment lay on the top line in terms of revenue, which has slowed down somewhat. However, Peter is hopeful that this will grow again as the economy continues to grow throughout the year.

Peter then tackles how companies have dealt with the pressure of rising input costs. He commented that many of the large companies still have tight controls in place, meaning they have managed to keep their operating costs low. Most companies are also operating with long term contracts, which mean that rising spot prices in commodities are yet to kick in.

To finish, Peter talks about how large shipping companies and steel makers have recently reported better than expected earnings and growth, and what can be deduced from this in terms of economic growth. The numbers from these big procyclical companies, combined with the better than expected GDP numbers from the Eurozone show that the underlying momentum in the economy and on the corporate side is strong. However, as there is no great pick up in either Europe or the U.S., the emerging markets are clearly driving these numbers. This is a good sign for economic recovery, because when big companies affirm their outlooks for 2011, it generally means it should be a good year for stocks.

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Reliable Forex Signal Service

After almost 3 years of trading, development and back-testing, Reliable Solutions is proud to announce the launch of the Reliable FX Signals subscription service.

For the first time ever, Reliable Solutions introducing “Automated Trading System” in Forex industry. By this service, subscribers need not to wait for email or SMS to receive trade signals. Instead of that all the trade signals will automatically executed on subscribers Metatrader 4 account. All subscriber need to do is to check increasing balance daily.

Each day, Reliable FX Signal subscribers will be sent at least 1 trading signal a day. If subscribers PC and Internet are online then that trade will be executed automatically and it will also set take profit, stop loss levels at the time of execution. Reliable FX Signal will also manage risk of subscribers account. We also offer 100% money back guarantee to our subscribers. It means, at the end of the month if subscribers account balance stays below of beginning balance then we will give 100% subscription charges back to subscriber. Development of own profitable, stable, viable trading system may take several years. Normally, this process faces some dangers. Plus add to that the fact that you are going to make some big mistakes on your way which means that you will lose lots of money. Often, these mistakes devastate the account, and injure the incentives of the beginner so much, that he gives up his work with Forex and makes no further tries. Our signals will help you avoid this huge mistake.

Our experienced and professional traders strive to identify the market current trend (short or long) ¬ so you can reap the benefits and make money constantly. We hope that you will take full advantage of all we have to offer in our website.

For more information about the signal subscription service, Reliable FX Signals, you can go to the company website at http://www.reliablefxsignals.com.

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LV= Launches My Car iPhone App

LV= has launched a new iPhone app for motorists called LV= My Car. It is a multi-utility application that features five clickable options for users to chose from including a car profile function, traffic maps, local info maps and for LV= customers only, an accident toolkit and call LV= tool. Each option takes the user to a separate page and offers a different service.

The car profile function allows users to input information about their own car to be stored on the app. Users can either enter their vehicle registration number whereby a third party provider will determine the exact car make/model (plus other information) or they can choose to create their own manual car profile. Here they will be able to include relevant information about their car such as engine size, BHP, miles per gallon, tyre pressure and tyre size.

There is also the option to set a number of car related renewal reminders including road tax, MOT and service, parking permit, and insurance. These reminders can also be added to the iPhone calendar. Users are then alerted two weeks before the renewal is due.

Using the accident toolkit feature, LV= car insurance customers are able to fill out an accident report form and submit it to LV=. There are two sections to this feature; ‘during an accident’ and ‘after an accident’. The first section allows the user to make notes about an accident they have been involved in and this includes the other driver’s details and the opportunity to capture images of the accident.

The second section enables LV= customers to fill in an accident report form. Here they are prompted to note their personal information, a description of the incident, whether there was third party involvement, whether either party accepted fault, extent of the damage, injuries, witnesses, whether the police were involved and if there is a crime number. Once all of the relevant information is complete users can submit the form to LV= and a claims handler is guaranteed to get in contact within 24 hours. Customers also have the option to call LV= at this point rather than submit information via the app.

Drivers can also use the app to receive detailed local traffic updates and access a local information map which will highlight nearby amenities.

The launch of the application follows the launch of LV=’s first iPhone app for job hunters which was released in September last year.

Paul Wishman, LV= e-commerce director said: “We are delighted to be launching the LV= My Car app. We opted to create an app with a difference that offers a service that could be used in different situations. We have recently launched the LV= mobile site so the launch of the iPhone app is the next step in our mobile strategy.”

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Saxo Bank Publishes OTC FX Options Market Information And Client Position Data

Saxo Bank, the specialist in online trading and investment, is first to publish market data from the FX Options OTC market. The data, which will be published three times a day on Tradingfloor.com, will greatly enhance traders’ understanding and ability to profitably trade FX as an asset class.

This initiative signifies Saxo Bank’s unique position as a leading market maker in the interbank OTC markets and exemplifies the value that Saxo Bank’s active participation offers to its FX clients.

Information included in the posts is:
– ATM volatilities, which shows the change in volatility of currency pairs
– 25-Delta Risk Reversal, the most widely used parameter in gauging market direction
– OTC Volume index, based on interbank OTC FX Options trade activity
– Market Pin Risk, which shows large strikes that have traded in the interbank market and may act as magnetic levels for the spot price in the future
– Charts, the graphical illustration of Risk Reversals and Implied vs. Historic Volatility
– Retail Position Ratio, which shows client sentiment (bullish/bearish) based on actual client positions
– Current FX Options Board Prices, which allows interested parties to see the competitiveness of Saxo Bank’s streaming quotes

Events in the OTC FX Options market have a direct impact on the development in the Forex spot market. Therefore, this type of data has historically been extraordinarily difficult and costly for traders to acquire. Saxo Bank is making this information publicly available to anyone interested in the Forex market, the largest and most liquid market in the world.

In a statement, Edward Voorhees, Global Head of Foreign Exchange at Saxo Bank, said:
“For market makers in the OTC FX Options market the trend has for some years been risk aversion, which has led to major institutions dramatically reducing their market making activities. Saxo Bank has remained very committed to its market making activities in the FX options space. The reward for being an active market participant is the valuable insight we gain. The options team at Saxo Bank is very proud to be able to share these insightful flow details with all our clients at no added cost.

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Ladi Balogun of FCMB GMD Receives Young Global Champions Award

Ladi Balogun, the Group Managing Director of First City Monument Bank (FCMB) Plc has been honoured with the award of This Day’s Young Global Champions in honour of young and daring Nigerians who are 50 and below and have taken Nigeria into global competition.

Ladi Balogun received this honour at the 16th Annual This Day Awards for Excellence and Good Governance which took place in Lagos, recently. Ladi Balogun was honoured for transforming a family owned bank in the face of the demise of other family owned banks.

According to the organizers of the yearly awards, leaders of 14 corporate organizations in the country who have built new companies from scratch and made them world class received this year’s awards in this category.

Ladi Balogun, son of Otunba Subomi Balogun, remains one young man who has done tremendously well for himself. Ladi Balogun’s impressive story could not have been otherwise, seeing that ladi balogun attended some of the best educational institutions in the world, which ladi Balogun complements with his subomi Balogun background.Ladi Balogun remains undaunted in his desire to further solidify and sustain the financial base of the balogun’s mega-business, especially, the First City Monument Bank (FCMB), where Ladi Balogun sits as managing director and chief executive officer.

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Saxo Bank Scoops Six Awards at the Euromoney Annual FX Survey 2011

Saxo Bank has picked up no less than six awards at the Euromoney annual FX survey 2011. The categories in which the online trading and investment specialist was voted into the top spot for are:

– Best Improved Overall Market Share By Volume ($10bn – $25bn)
– Best Improved Overall Market Share By Volume ($5bn – $10bn)
– Best Speed of Execution
– Best Research and Analytics
– Best Effective Risk Management and Execution Strategies
– Best Integrated Workflow and Compliance Solutions

Albert Maasland, Senior Vice President and Chief Executive of Saxo Bank London said at the awards ceremony in London last night: “These awards are an accolade to Saxo Bank’s experience in the online trading business and its recognition in the market place. Saxo Bank received more award wins this evening than ever before in our history. This follows our best full-year results ever. I am honoured to accept these awards on behalf of our two founders and my colleagues. All six awards reflect our ongoing commitment to respond to our broad client base and provide the FX market with consistent competitive pricing and leading value-adding products and services.”

The Euromoney annual Foreign Exchange survey is in its 22nd year. The survey is the industry’s leading review of FX trading, research and e-business capabilities and is widely considered as the benchmark league table for the FX market. The awards are a reflection of the efforts of the wider FX industry to provide the tools and functionality that make trading FX more efficient. Results are based on qualitative responses from thousands of companies around the world. Last year over 11,700 votes were cast in the survey, including those of treasurers, traders and investors.

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Saxo Bank First To Offer Direct Online Trading In Brazilian Market

Saxo Bank, the specialist in online trading and investment, has launched four futures that will, for the first time, offer investors who are not residents in Brazil direct access to the Brazilian market. The products include the Bovespa Index and USD/BRL cross and enable investors to gain exposure to one of the currently most buoyant economies and hedge risks in their portfolios.

With this launch, Saxo Bank provides investors with four futures investment instruments – the BOVESPA Index, IBOVSPA Index Mini, BMF US Dollar Future and Mini BMF US Dollar – that are available on all of the bank’s platforms (SaxoTrader, SaxoWebTrader and SaxoMobileTrader).

Moreover, Saxo Bank expands its coverage to over 20 futures markets and more than 80 trading venues which can be accessed via a product range comprising more than 22,000 financial instruments.

In a statement, Pedro Brigham, director of the Latin region for Saxo Bank, said: “The rise in commodity prices has put Brazil on investors’ radars. Its excellent economic growth, political stability and a liquid market where over 3.5 billion US dollars are traded on a daily basis have made the country the clear leader in Latin America at a time when investors increasingly demand greater access to emerging markets”.

Claus Nielsen, executive vice president and head of markets at Saxo Bank, added: “The launch of futures trading in Brazil marks a significant milestone for Saxo Bank, and we are proud to be able to offer our global client base access to this vibrant economy. We look forward to expanding the list of available instruments in Brazil and to further add trading venues in emerging countries to our platform.”

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Barclaycard Freedom Celebrates First Birthday

Barclaycard Freedom, the loyalty scheme from Barclaycard, celebrates strong figures on its progress since launch one year ago. The scheme has encouraged Barclaycard Freedom cardholders to spend on average 14% more in launch partner stores than other credit card customers.

There are now one million active Barclaycard Freedom customers earning and redeeming Reward Money across over 20,000 coalition partners. Over the last 12 months, the average value redeemed has doubled. Joint promotions have driven much of this growth, with cardholders who have benefited from retailer special offers spending over two and a half times more than cardholders who have not taken advantage of the credit card benefits.

Over the last year, both large and small retailers have seen a rise in custom from Barclaycard holders as a result of available Reward Money, with the average amount of Reward Money being redeemed month-on-month almost doubling. Shell service stations have seen a 15% rise in linked sales from Barclaycard Freedom cardholders and, in smaller independent retailers over a quarter (27%) of Reward Money was earned and redeemed.

Sarah Alspach, marketing director of Barclaycard Freedom, said: “Since launch last year, economic conditions have been creating a pinch on shoppers’ wallets with resulting falls in high street spending. Barclaycard Freedom has been benefiting Barclaycard credit card holders and providing value for money for retailers, while delivering double digit growth in spending. We believe it is a programme that is good for shoppers as they earn pounds, not points and it is helping drive business for our coalition partners. Indeed, footfall, together with the insight we can provide, will be a crucial element in helping our partners navigate the next 12 months.”

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LV = Reveals One In Ten Homes Built On Brownfield Sites Have Problems

LV= has revealed that over the next decade around half a million homes will be built on redeveloped ex-industrial sites that could pose risks to homeowners and their homes.

A new report from home insurer LV= reveals that around 125 million square metres of redeveloped brownfield land, earmarked for the building of 500,000 homes, is potentially at risk of flooding or contamination, which could cost homeowners thousands of pounds to address.

Brownfield sites are defined as land which has potential for redevelopment after previously being occupied by another permanent building, such as a factory or industrial works. Redeveloping brownfield sites is a cornerstone of the current national housing policy, with 79% of all new builds being built on recycled land in recent years.

Yet according to the LV= research, over one in ten (11%) new homes built on brownfield land have suffered problems as a result of the land the property is built on, affecting a total of 74,000 homes in the last ten years. The most common problem is flooding, but there are also cases of contamination, poor drainage and sewage problems.

One of the drivers behind the current policy encouraging house builders to redevelop land is the creation of affordable homes for first-time buyers. The LV= research shows that few (17%) prospective buyers are actually specifically looking to buy new build housing, rather many feel that this is the only option available to them through local authority shared ownership schemes as many of these properties are new builds. Others say they are persuaded to buy new build homes because of incentives such as deposit cash back schemes from developers or free white goods.

Currently, over a third (34%) of prospective buyers are unaware of the problems associated with former industrial land and a quarter (24%) do not check the previous use of the land a house is built on. LV= is advising potential buyers to check the previous use of the land a house is built on before committing to a purchase, by speaking to neighbours, checking old maps or commissioning a full environmental report to ensure they do not experience problems once they’ve moved in.

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Vebnet and Standard Life Launch Box of Benefits

Vebnet and Standard Life announce the launch of their Box of Benefits (BOB). BOB is an off-the-shelf employee benefits solution designed specifically for UK-based SME companies.

This new proposition has been built using technology from Vebnet, a market-leading provider of technology and services for reward and benefit strategies, and is based on insight from employers looking for a packaged solution.

The business of selecting and managing benefits can take a lot of time, administration and money, however BOB makes it easier for employers to offer their employees great staff benefits packages including a pension, because it is simple to manage and affordable. This is achieved through a single online portal that helps with employee benefits management, the administration of the benefits and reporting requirements.

BOB can be personalised for every company and implemented quickly. Employees receive access to BOB’s user-friendly online technology, with the option to choose from a range of employee benefits, including childcare vouchers, money off bicycles, dental insurance, private medical insurance, pension and travel insurance.

Gerry O’Neill, managing director of corporate solutions said: “Most employers now realise the value of a good benefits package. But for some there is still the concern that it is going to be too costly, or that the administration will take up too much time. Box of Benefits can solve these problems through a boxed up solution that makes flex cost-effective.”

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Think Money Welcomes Fall In Repossessions

Financial solutions company Think Money has welcomed news that repossessions fell sharply in 2010, compared with a year earlier, commenting that it suggests the financial circumstances of homeowners may have improved despite difficult economic conditions.

But the company warned that there are still difficult times ahead for many homeowners, especially when interest rates rise.

The Council of Mortgage Lenders (CML) said there was a 24% drop in the number of repossessions in 2010, compared with 2009, down to 36,300. Meanwhile, the number of households with mortgage arrears amounting to more than 2.5% of the outstanding balance fell by 13%, down to 169,600.

An expert at Think Money commented:

“Any drop in repossessions and arrears is a good sign. Although the economy is still in a difficult position, it’s likely that a lot of homeowners have taken steps to improve their finances, whether that’s through keeping to a tight budget or entering into a debt solution such as a debt management plan before repossession becomes a possibility.

“Leniency from lenders may have also helped, but equally the troubles of the last couple of years will have prompted many homeowners to be more cautious with their money.

“However, it must be noted that there are a lot of people who are only coping with their mortgage repayments because of low interest rates. When interest rates rise – which could happen this year – we may well see many more homeowners in trouble.

“Anyone already struggling or worried about their ability to meet their payments when interest rates rise should not hesitate to get help from an expert. It’s not usually worth waiting for a change to happen – getting help early could greatly reduce the chances of facing repossession.”

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Stockpair.com Launches Pair Options, the First Trading Product to Enable Direct Trading Based on the Relative Performance of Stocks

Stockpair ( www.stockpair.com ) has announced the launch of the first ever Pair Options trading platform. Pair Options are a new category of market-neutral online trading products that are based on the relative performance of stocks. Pair Options trading is based on picking the best performing stock within a given stock pair (such as Apple/Google, Vodafone/BT etc.) therefore limiting the exposure to general market direction. Stockpair has taken elements from the professional Pair Trading strategy and turned it into a compelling, intuitive and trader-friendly product.

“What’s extremely valuable is that since you trade on the relative performance of two stocks, you’re essentially using a market neutral instrument,” commented Yoel Mann, Stockpair’s VP of Marketing. “What really matters is how one stock has performed against another, and not necessarily how it performs in absolute terms, so even if the market goes down, there is no affect on profits.”

The platform services the global community of traders, professionals and beginners. Within the fairly conservative financial industry, stockpair’s launch is a rare occasion on which a completely new product is to be introduced to the market, not to mention a product that simplifies a proven trading technique and makes a new effective trading paradigm accessible to traders of all levels of experience.

Stockpair is built upon a patent-pending pricing engine and an innovative visual interface which offers a unique, interactive trading experience. The platform offers Pair Options on more than 70 stocks from exchanges around the world, based on real time market data. The system enables taking decisions and making trades within seconds, allowing traders to quickly capture market opportunities.

Via EPR Network
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Assets, Financial, Financial Information, Financial Management, Financial Services, Insurance, Insurance Services, Money

LV= Asset Management named Best Small Bond Group at Lipper Awards 2011

LV= Asset Management, the fund management arm of mutual insurance, investment and retirement group LV=, has received recognition for the strong performance of its UK fixed interest team by winning the best small bond group category at the Lipper Fund Awards 2011.

LV= Asset Management qualified for this award by delivering strong risk-adjusted performance relative to its peer group across its range of bond funds over the three year period up to 31st December 2010. These funds include the LV= UK Corporate Bond fund, the LV= UK Fixed Interest fund and the LV= UK Index linked fund.

The award acknowledges LVAM’s industry leading fixed interest capability and highlights the team’s expertise across a range of different products.

Michael Wright, Head of Fixed Interest at LVAM commented: “We aim to deliver consistently good performance for our clients across the range of bond funds. We are extremely pleased to have won this award as it acknowledges our team approach to managing funds and recognises the superior returns we have achieved over the three years to 31st December 2010.

“The last few years have been an extraordinary time for money managers but the breadth of experience on the team has allowed us to draw on lessons from the past and make timely, well informed decision on behalf of our clients. Going forward we are confident that we can maintain this high level of performance by continuing to follow a pragmatic approach to stock selection.”

Ann Roughead, Managing Director at LVAM added: “LVAM has set out its stall as a low-cost active manager that does what it says on the tin – delivering attractive added value year in, year out. The LV= bond funds are great examples of what we are trying to achieve and this award will serve to reinforce our commitment to providing impressive and consistent returns for our investors.”

Via EPR Network
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LV = Reveals Drivers Lost £58.5 Million From ‘Unfair’ Parking Tickets

LV=, the car insurer, has revealed that drivers lost £58.5m last year by failing to appeal against parking tickets issued in ‘unfair’ circumstances.

In 2010, one in twenty (5%) motorists in the UK received a parking ticket where they had grounds to appeal. Despite this, only one in five (22%) drivers bother to contest a ticket once issued; but of those who do, nearly nine in ten (88%) claimants are successful.

When questioned, over half of UK drivers (53%) who do pay when issued with a ticket in unfair circumstances do so because they assume they will not win an appeal. Many drivers say they are confused about the procedure for appeals, with one in twelve (8%) not knowing how to initiate a claim.

The majority of ‘unfair’ parking fines are issued in areas where parking signage is unclear. Other reasons include misleading road markings, being issued with a fine while walking to a machine to buy a parking ticket and being fined when the car was broken down. A small but significant number of drivers report parking attendants actually fabricating evidence to support issuing the ticket (2%).

Most (49%) of tickets issued unfairly are given out on public roads but surprisingly one in ten (10%) are received in car parks of public buildings managed by local authorities, such as libraries, hospitals and GP surgeries. A similar number (9%) are given out in commercially operated car parks.

Via EPR Network
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