The Vestas Group has received an order to supply and commission 67 units of V80-1.8 MW wind turbines for a 120 MW wind power project near Abilene, Texas from Buffalo Gap Wind Farm LLC, a project company developed by SeaWest Holdings, Inc. The wind power plant will be commissioned by 31 December 2005. The parties have entered into a turbine supply agreement and a warranty, maintenance and service agreement. Recently, AES Corporation, a major international power company headquartered
Understanding the dynamic process of adjustment of a country’s external balance is one of the most important questions for international economists. The recent wave of financial globalization has led to a sharp increase in cross-holdings of foreign assets and liabilities. The upsurge in cross-border holdings has therefore opened the door to potentially large wealth transfers across countries. In CEPR Discussion Paper No. 4923, Pierre-Olivier Gourinchas and Hélène Rey argue that to fully explain t
Clearstream began 2005 with growth in its core businesses and new business streams continuing progress made in 2004. The value of assets held in custody on behalf of customers rose to approximately EUR 7.7 trillion, a rise of 2.5 percent from the same month last year. The number of international transactions processed by Clearstream stood at 1.5 million for January 2005 compared to 1.7 million for the same month last year. Of these transactions, 15 percent are registered as stock exchange transactio
A new procedure that could save millions of dollars annually in medical costs – and result in much better patient outcomes and satisfaction – was performed for the first time in the world this week at Wake Forest University Baptist Medical Center.
The procedure removed growths from the airway of a patient using new technology that allows the surgery to be done in the doctor’s office with the patient completely awake, and the patient to go home immediately afterward. In the
We have responded to the demands of our clients for innovative Treasury products
The world’s first derivative products based on 3-year U.S. Treasury Notes began trading today on Eurex US, the fully-electronic U.S.-based futures and options exchange. As previously announced, Eurex US expanded its product suite of benchmark USD-denominated fixed income derivatives to include 3-year U.S. Treasury futures and options on futures, meeting customer demand for derivatives on shorter term
Trading hour extension effective April 3, 2005/ Nandapurkar: Eurex US offers trading during core business hours in all time zones
Eurex US, the fully electronic U.S. futures and options exchange, announced on Monday that it will be extending its trading day by two hours, from 21 hours to 23 hours, effective April 3, 2005. As of that date trading will begin at 5:00 p.m. Chicago time instead of 7:00 p.m.; the trading day will continue to end at 4:00 p.m. Chicago time on the next cal
Clearstream announced that Banco Bilbao Vizcaya Argentaria (BBVA) has signed up to implement the innovative new investment service called Vestima+. BBVA is Spain’s biggest bank and has been a strong proponent of the open architecture model that is a key element of Clearstream’s new service. Clearstream launched the Vestima+ service as planned on 24 January 2005. The Vestima+ service is targeting the costly order processing difficulties within the industry and delivers a new form o
An Ohio State University researcher has helped develop a new measure that he says is a better way to calculate how much risk people are willing to take in their investments.
The issue of measuring risk tolerance will become more important than ever under President Bush’s proposal to allow Americans to invest some of their Social Security taxes in stocks and bonds.
Measuring risk tolerance will also be important to baby boomers retiring in the next decade, some of whom w
Widespread market support expected to grow in 2005 as coverage expands Clearstream announced on Monday that it has successfully launched its new Vestima+ Investment Funds service and that transactions in international markets were flowing as expected following an implementation project over the weekend. The Vestima+ service is targeting the differing needs of each of Europe’s main domestic distributors and provides a single solution for multiple fund markets. The main
CreationOnline customer interactions exceed 2 million milestone in December / Additional PROPRIS reference data service to be launched for data vendors Customer usage of Clearstream’s new Corporate Action Service for the efficient management of corporate action activities has exceeded initial expectations: Since its launch on December 6 last year the service has attracted over 290 financial institutions and a total of 50,141 user interactions on CreationOnline. It has driven ov
The Southwest Securities Financial Markets Center will allow graduate students and senior finance majors hands-on learning in the truest sense of the word as they manage one of the largest student-run portfolios in the nation – currently worth $6 million – from the new facility.
Baylor University will officially dedicate this world-class investment facility at 2:00 p.m., Wednesday, January 12, at the Hankamer School of Business, located at the corner of 5th Street and Speight Avenu
Modification of Futures and Options on 2-year U.S. Treasury Note Eurex US, the fully-electronic U.S. futures and options exchange, today announced that it will expand its product suite of benchmark USD-denominated fixed income derivatives. On February 1, Eurex US will introduce futures on 3-year U.S. Treasury Notes and options on the futures. This makes Eurex US the only exchange worldwide to offer these products. With the introduction of the new product, Eurex US meets customer de
Double digit growth seen in all new business areas Clearstream experienced strong growth throughout 2004 in all of its main business areas. The value of assets held in custody on behalf of customers rose to approximately EUR 7.6 trillion, a rise of 3.5 percent from the end of 2003. The number of international transactions processed by Clearstream rose to 17.2 million across 2004, an increase of 4.2 percent year on year. 17 percent of these transactions are registered as stock exchang
Clearstream’s core business figures showed further growth levels in September 2004.
The number of international transactions processed by Clearstream rose to 12.8 million year to date September 2004, an increase of 4.6 percent year on year (January to September 2003: 12.2 million). 18 percent of these transactions are registered as stock exchange transactions, 82 percent as Over the Counter (OTC) transactions. The introduction of the equity central counterparty in March 2003 con
Recent monetary policy has helped control inflation which, in turn, has kept unemployment rates low according to detailed research funded by the Economic and Social Research Council.
The wider economic community is reluctant to accept that monetary policy affects the underlying natural rate of unemployment. However, in the light of the research, there is clear evidence to suggest that these views should be re-thought. Unions may need to change their stance on interest rate control and its pe
Researchers from the University of Warwick’s Institute of Applied Cognitive Science have devised a new method of obtaining a precise understanding of a consumer’s tolerance of risk. The research can be used to help match consumers with financial options that are closely keyed to the exact level of risk that investor feels comfortable with. This approach runs counter to the current culture which tends to provide conservative solutions to people’s financial services needs. If used widely, the resultant
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