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CME Europe to launch this weekend after FX pairs approved
April 25, 2014--European derivatives venue CME Europe is set to formally launch on Sunday, having received regulatory approval for its full product range on Wednesday.
London-based CME Europe plans to offer trading in a range of different asset classes, though it will initially focus on 30 FX futures products and biodiesel futures.
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Source: The Trade
S&P cuts Russia's foreign currency ratings
April 24, 2014--Credit agency Standard & Poor's cut Russia's foreign currency sovereign ratings on Friday, in a move that underscores risks from President Vladimir Putin's policy of intervention in Ukraine.The agency cut both long-and short-term foreign currency ratings, to BBB-/A-3 from BBB/A-2, a decision that pushed Russia's already battered assets further down early on Friday.
"The downgrade reflects the risk we perceive of a continuation of the large financial outflows observed in the first quarter of 2014, during which the size of Russia's financial account deficit was almost twice that of the current account surplus," the agency said in a press release.Central bank data released earlier this month showed an estimated $63.7 billion in net capital outflows in the first three months of 2014, the same as for the whole of 2013
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Source: Today's Zaman
SIX Swiss Exchange launches SPI Select Dividend 20 Index
April 24, 2014--SIX Swiss Exchange today announced the launch of the SPI Select Dividend 20 Index. The new index includes those 20 stocks from the SPI Index which show the highest historical dividend-payments and the most solid profitability.
The SPI Select Dividend 20 Index offers market participants a rules-based and transparent concept, which combines screens for high and stable dividend payments with screens for a company’s superior profitability, measured by return on capital (ROC).
The index universe for the SPI Select Dividend 20 Index is the SPI Index. In order to be included in the new index, stocks must have minimum average daily traded volume (ADTV) of CHF 2,0,million over the past twelve months, and have paid dividends in at least four out of the last five financial years.
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Source: SIX Swiss Exchange
Provision of deficit and debt data for 2013- first notification
April 23, 2014--Euro area and EU28 government deficit at 3.0% and 3.3% of GDP respectively
Government debt at 92.6% and 87.1%
In 2013, the government deficit1 of both the euro area2 (EA18) and the EU282 decreased in absolute terms
compared with 2012, while the government debt1 rose in both zones.
In the euro area the government deficit to GDP ratio decreased from 3.7% in 2012 to 3.0% in 2013, and in the EU283 from 3.9% to 3.3%. In the euro area the government debt to GDP ratio increased from 90.7% at the end of 2012 to 92.6% at the end of 2013, and in the
EU283 from 85.2% to 87.1%.
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Source: Eurostat
Deutsche: switch to physical ETFs paying off
April 20, 2014--The exchange traded fund arm of Deutsche Asset & Wealth Management says strong inflows into its products during the last few months show its decision to convert 18 synthetic products to physical replication was the "correct strategy".
Europe's second largest ETF provider by assets, announced last week that it had completed the process of converting 18 of its largest ETFs from synthetic to physical replication.
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Source: FT.com
BlackRock challenges UK pension providers
April 18, 2014--BlackRock, the world's largest asset manager, is to swoop into Britain's pensions market mounting an aggressive challenge to UK life insurers after concluding that government reforms could lead to the collapse of the annuities market.
It is the first clear signal the world's largest fund management groups are preparing to take on a market from which they were in effect barred until reforms announced in the Budget in March.
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Source: FT.com
First db x-trackers ETF on Indonesian government bonds launched on Xetra
April 17, 2014--A new db x-trackers bond index fund from the ETF section of Deutsche Asset & Wealth Management has been tradable in the XTF segment on Xetra since Thursday.
ETF name: db x-trackers II Markit iBoxx ABF Indonesia Government UCITS ETF
Asset class: bond index ETF
ISIN: LU0378818214
Total expense ratio: 0.40 percent
Distribution policy: non-distributing
Benchmark: Markit iBoxx ABF Indonesia Government TR Index
The db x-trackers II Markit iBoxx ABF Indonesia Government UCITS ETF enables investors to participate for the first time in the performance of debt instruments issued by the Indonesian government.
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Source: Xetra
Regulation on securities settlement and on Central Securities Depositories in the EU ('CSD Regulation')-Frequently Asked Questions
April 16, 2014--The CSD Regulation aims to harmonise both the timing and conduct of securities settlement in Europe and the rules governing Central Securities Depositories (CSDs) which operate the infrastructures enabling settlement.
With regard to settlement, the CSD Regulation harmonises timing and discipline of securities settlement in the EU.
It creates, for the first time at European level, a common authorisation, supervision and regulatory framework for CSDs.
2. What is settlement?
Any trade in securities on or off a trading venue is followed by a post-trade flow of processes, including for example confirmation of the trade details by a trading venue or clearing by a central counterparty (CCP), leading to the settlement of the trade, which means the delivery of securities to the buyer against the delivery of cash to the seller. Settlement may occur on the day of the trade, but more often a number of days later depending on the type of securities, the type of trading venue, or the type of market concerned.
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Source: Europa
European Parliament adopts financial markets rules
April 16, 2014--The European Parliament adopted new rules Tuesday to tighten the regulation of financial markets in order to stop rampant speculation, including on foodstuffs.
The European Union's Financial Markets Commissioner Michel Barnier first pushed for the new rules, known as MiFID II, in 2011 at the height of the eurozone debt crisis and in the wake of the global economic meltdown.
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Source: EUbusiness
DeAWM completes move to become one of Europe's largest providers of physical ETFs
April 16, 2014--Deutsche Asset & Wealth Management (DeAWM) has become one of Europe's largest providers of direct, physical replication exchange traded funds (ETFs) following the completion of an ambitious programme to switch 18 db X-trackers equity ETFs from synthetic to physical replication, as well as the launch of several new direct replication offerings.
Assets under management (AUM) in db X-trackers direct, physical replication ETFs now sit at approximately €11bn, making DeAWM the second biggest provider of physical ETFs in Europe (Source: Deutsche Bank, 31 March 2014). Investors now have access to over 30 physical replication db X-trackers ETFs.
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Source: Deutsche Asset & Wealth Management (DeAWM)
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