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ESMA publishes 2nd Update of Q&A on the application of the Short Selling Regulation
January 30, 2013--The European Securities and Markets Authority has published an updated version of its Q&A on the Application of the Short Selling Regulation.
The purpose of the Q&A is to promote common supervisory approaches and practices amongst the EU’s national securities markets regulators on the requirements of the Short Selling Regulation, that came into force on 1 November 2012. It will also provide clarity on the requirements of the new regime to market participants and investors.
Vanguard listed as new product provider of three ETFs to SIX Swiss Exchange
January 30, 2013--Vanguard listed as new product provider of three ETFs to SIX Swiss Exchange
SIX Swiss Exchange is pleased to welcome Vanguard as a new issuer of ETFs. Vanguard is launching three products based on the European and American equity market indices.
Pennsylvania-based product provider Vanguard was founded in 1975 and is now one of the world’s largest asset management companies, with more than 250 managed investment funds and ETFs. Vanguard has been among the leading providers in its core business of index investments for over 30 years.
The ETF segment of SIX Swiss Exchange now comprises 905 listed products. Goldenberg Hehmeyer LLP and Commerzbank AG act as market maker for the Vanguard ETFs.
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Source: SIX Exchange
ComStage ETF S&P SMIT 40 launched on Xetra
ETF offers first-time access to companies in the SMIT emerging markets
January 29, 2013--A new equity index fund issued by ComStage ETF has been tradable on Xetra since Tuesday.
For the first time, investors are able to participate in the performance of the S&P SMIT 40 TRN EUR Index.
ETF name: ComStage ETF S&P SMIT 40 Index TRN
Asset class: equity index ETF
ISIN: LU0860821874
Total expense ratio: 0.60 percent
Distribution policy: non-distributing
Benchmark: S&P SMIT 40 Net Total Return EUR Index
The S&P SMIT 40 Net Total Return EUR Index tracks the performance of ten stock corporations in the emerging markets South Korea, Mexico, Indonesia and Turkey. All four countries are given equal weighting in the index, with the weighting of the individual stock corporations within a country determined by free-float market capitalisation and trading volumes. The index is a net return index, i.e. dividend payments after tax deduction are taken into account.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,020 exchange-listed index funds, making it the largest offering of all European stock exchanges.
Source: Xetra
New listing ETFs on NYSE Euronext
January 29, 2013--NYSE Euronext is pleased to announce that Amundi IS has listed a new ETF on NYSE Euronext Paris on January 29, 2013:
Listing Date:29/01/2013
Trading Name: AMUNDI MS EUR X FI
ISIN: FR0011340413
Symbol:EUXF
Benchmark index:MSCI Europe ex Financials
TER:0.30
NYSE Euronext now has 669 listings of 579 ETFs listed on its European markets.
Source: NYSE Euronext
Deutsche Boerse IPO indicator gives positive prognosis for IPOs in Frankfurt
Favourable market conditions expected for initial public offerings for Q1
January 28, 2013--Deutsche Börse published the IPO sentiment indicator forecasting issue activity for the 1st quarter of 2013 on Monday.
According to the indicator, the IPO climate, which reflects the sentiment of investors, companies and underwriters on the primary market, remained positive at 32.43 points compared to 32.8 points in the previous quarter.
In contrast to global IPO activities, market participants in Frankfurt see a favourable period for placing shares and expect a positive price level for them in the coming months. The lower volatility and higher valuation of equities is also having a positive effect on the primary market. According to the surveys, IPOs are primarily to be expected from March. This time window primarily arises from the fact that companies preparing for an IPO produce their financial statements by March, and from May onwards prepare their semi-annual reports.
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Source: Deutsche Börse
New SPDR ETF launched on Xetra
ETF tracks stock corporations in the euro zone
January 28, 2013--A new exchange-listed equity index fund issued by SPDR (State Street Global Advisors) has been tradable on Xetra® since Monday.
ETF name: SPDR MSCI EMU UCITS ETF
Asset class: equity index ETF
ISIN: IE00B910VR50
Total expense ratio: 0.30 percent
Distribution policy: non-distributing
Benchmark: MSCI EMU Index
The SPDR MSCI EMU UCITS ETF aims to track the performance of large and medium-sized companies on developed equity markets in the European Monetary Union (EMU). The reference index currently comprises 244 companies, representing a total of 85% of the market capitalisation in the euro zone.
The index covers companies from the following 11 industrialised countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal and Spain. The index is calculated in euros and the equities included are weighted according to free-float market capitalisation.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,021 exchange-listed index funds, making it the largest offering of all European stock exchanges.
Source:Xetra
Promotions at Source
January 28, 2013--Source is pleased to announce the promotion of five employees following an outstanding year. In 2012 Source was number two in Europe in capturing new Exchange Traded Product assets and rose to become the sixth largest provider after less than 4 years in the market.
The promotions reflect that success and include:
FIVE PROMOTIONS AT SOURCE FOR THE FAST GROWING EUROPEAN ETP PROVIDER
Ludovic Djebali: Promoted to Managing Director and Co-head of Sales
Stefan Garcia: Promoted to Managing Director and Co-head of Sales
Pierre Olivier Cohen: Promoted to Executive Director, Frabelux Sales
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Source: Source ETF
Euro area economic and financial developments by institutional sector-Third Quarter 2012
January 28, 2013--In the third quarter of 2012, the annual growth rate1 of households’ gross disposable income turned positive (0.4%) after a decrease (-0.3%) in the second quarter.
The annual growth rate of households’ consumption expenditure was 0.2% in the third quarter compared with 0.5% in the previous quarter. Following these developments the annual growth rate of households’ gross saving increased to 1.3%, compared with -3.4% in
the second quarter of 2012. The households’ gross saving rate2, remained broadly unchanged at 13.0%, compared with 13.1% in the third quarter of 2011.view more
Source: ECB
Changes in the management team of Eurex Repo and Eurex Bonds
Peter Reitz steps down from the management team of both Eurex subsidiaries/Eurex Repo and Eurex Bonds extend management
January 25, 2013--Eurex Group today announced management changes at both Eurex Repo GmbH and Eurex Bonds GmbH.
Peter Reitz, who has served as managing director at both companies since 2006, left both firms. However, he will continue to bear overall responsibility for the two subsidiaries on the Eurex Executive Board.
Frank Gast (43) and Rene Winkler (38) are the new appointees to the Eurex Repo management team; Marcel Naas remains responsible managing director at Eurex Repo. Gast, who holds a university degree in business administration, had been head of Sales in Zurich since 2010 and was previously responsible for developing the Securities Lending market.
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Source: Eurex
Proposals for Better Management of Non-Financial Risks within the European Fund Management Industry
January 25, 2013--In a summary document that concludes three years of research on better management of non-financial risks within the European fund management industry-conducted with the support of CACEIS-EDHEC-Risk Institute is putting forward a series of proposals to limit these risks which emerged during the 2007-2008 crisis and undermined the quality of the UCITS label.
For EDHEC-Risk Institute, the sophistication of UCITS is one of the principal causes of a rise in non-financial risks. These risks are not the direct result of positions taken by funds on financial markets and for which they receive a reward proportional to their exposure, but rather produced by the operation of the value chain of the collective investment management industry itself.
view the Proposals for Better Management of Non-Financial Risks within the European Fund Management Industry
Source: EDHEC
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