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Gold inflows to continue into 2013
December 13, 2012--Inflows into European gold exchange traded products (ETPs) have reached US$6.8BN year to date (15.4% growth), bringing total assets to US$44.2BN1 in a year when the spot gold price has increased by 9% year to date in US$ terms and ranged from US$1,540 to US$1,790/oz1.
As demand for gold and other precious metals has continued to grow, investors have increasingly adopted physically-secured ETPs as their vehicle of choice. The Source Physical Gold P-ETCETP (BBG: SGLD LN, annual fee of 0.29%) has gathered the highest net new assets (NNA) of any European gold ETP year to date, accounting for 23% of total gold NNA in Europe and remains the most traded gold ETP on the LSE1,3. It is now among the largest exchange-traded physical gold products globally, with AuM in excess of US$4BN2.
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Source: Source
Eleven EU countries get Parliament's all clear for a financial transaction tax
December 12, 2012--Eleven EU countries planning to introduce a financial transaction tax (FTT) won a resounding go-ahead from MEPs on Wednesday.
Together, they account for 90% of Eurozone GDP. MEPs have long advocated an FTT to make financial market players take more responsibility for resolving the crisis that they caused and to discourage excessive risk-taking in future.
"It is not a solution to spare the financial sector from a tax, the very same sector which is now even benefitting from the crisis. Delay in implementing this tax is costing money which is being footed by normal people" said rapporteur Anni Podimata (S&D, EL) in the debate on Tuesday. Her resolution was adopted by 533 votes to 91, with 32 abstentions.
The text stresses that the ultimate goal should still be a worldwide FTT, and urges the EU to continue campaigning for it. To this end, the pioneer eleven should set an example of what a geographically wider tax could achieve, it adds
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Source: European Paliament
BOOST Lists Eight European & US Equities 3x Long and 3x Short ETPs on the LSE
December 13, 2012--BOOST ETP (BOOST), the independent exchange traded product (ETP) provider, announces today that it has listed eight new ETPs on the London Stock Exchange (LSE).
This brings BOOST's product lineup to ten ETPs, providing 3x leveraged and 3x short exposure to the markets that European investors follow the most: Europe, UK, Germany and the US.
BOOST's new ETPs track a range of indices provided by world class index providers: NASDAQ, Russell, EURO STOXX® and DAX®.
The new ETPs listed today are:
Boost LevDAX® 3x Daily ETP
LSE Code: 3DEL
Boost ShortDAX® 3x Daily ETP
LSE Code:3DES
Boost EURO STOXX® 50 3x Leverage Daily ETP
LSE Code: 3EUL
Boost EURO STOXX® 50 3x Short Daily ETP
LSE Code:3EUS
Boost NASDAQ 100® 3x Leverage Daily ETP
LSE Code:QQQ3
Boost NASDAQ 100® 3x Short Daily ETP
LSE Code:QQQS
Boost Russell 1000® 3x Leverage Daily ETP
LSE Code: 3USL
Boost Russell 1000® 3x Short Daily ETP
LSE Code:3USS
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Source: Boost ETPs
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
December 12, 2012--The most recent issue of the European Weekly ETF Market Review is now available.
The report includes key statistics on the European ETF market as well as global ETF market highlights. For more detailed coverage please refer to our monthly report, issued in the first week following the end of each month.
request report
Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
Euro area securities issues statistics
December 12, 2012--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 3.2% in
October 2012, compared with 3.4% in September.
For the outstanding amount of quoted shares issued by euro area
residents, the annual growth rate was 1.0% in October 2012, compared with 0.9% in September.
New issuance of debt securities by euro area residents totalled EUR 898 billion in October 2012.
Redemptions stood at EUR 882 billion and net issues amounted to EUR 35billion.1 The annual growth rate of outstanding debt securities issued by euro area residents was 3.2% in October 2012, compared with 3.4% in September.
The annual rate of change of outstanding short-term debt securities decreased from -2.1% in September 2012 to -2.8% in October. For long-term debt securities, the annual growth rate was 3.9% in October 2012, compared with 4.1% in September. The annual growth rate of outstanding fixed rate long-term debt securities was 5.7% in October 2012, compared with 5.6% in September. The annual rate of change of outstanding variable rate long-term debt securities decreased from -1.2% in September 2012 to -2.2% in October (see Table 1 and Chart 3).
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Source: ECB
STOXX launches Managed Futures Index
New index is based on Efficient Capital Management research
December 12, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the launch of the iSTOXX Efficient Capital Managed Futures 20 Index, a new index based on research provided by Efficient Capital Management, a global leader in the Managed Futures industry.
The new index is comprised of 20 of the largest Commodity Trading Advisors (CTAs) by assets under management.
The iSTOXX Efficient Capital Managed Futures 20 Index will enable STOXX’s clients to measure the composite performance of some of the world’s largest CTAs on a daily basis. It can also be used as a benchmark against a single CTA or pool of CTAs, or as underlying for financial products. CTAs invest across listed financial futures markets such as commodities, equity indices, fixed income and foreign exchange, as well as into interbank FX. This broad exposure ultimately leads to a well diversified index.
“Today’s launch of the iSTOXX Efficient Capital Managed Futures 20 Index marks another step of STOXX’s quest to bring innovative concepts to the market, which are highly sophisticated but at the same time completely rules-based and transparent,” said Hartmut Graf, chief executive officer, STOXX Limited. “By including Efficient Capital Management’s data in our index, we can offer market participants access to a well-diversified pool of some of the world’s largest CTAs; which are a rapidly growing part of the hedge fund industry.”
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Source: STOXX
Former FSA boss Hector Sants joins Barclays as head of compliance
Sants to join after Financial Services Authority gardening leave is over and be responsible for bank's relationship with regulators
December 12, 2012--The former chief City watchdog is joining Barclays bank in a newly created role to overhaul the bank's compliance procedures following the Libor interest rate-rigging scandal and to rebuild its battered relationship with financial regulators.
Hector Sants will join the bank in January as head of compliance, government and regulatory relations after six months' gardening leave from the Financial Services Authority. He will be responsible for the embattled bank's relationship with regulators and a department staffed by 1,300 compliance officers.
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Source: The Guardian
Boost ETP launches on London Stock Exchange
Issuer debuts with FTSE-based leveraged products
GETCO becomes London’s 26th ETP market maker
Boost CEO opens trading on London markets
December 11, 2012-London Stock Exchange today welcomes Boost ETP as a new issuer of Exchange Traded Products (ETPs) on its Main Market.
The company plans to introduce 20 new products throughout December, offering leveraged exposure to a range of indices. Benchmarks created and managed by FTSE, London Stock Exchange Group’s leading index provider, have been licensed to underlie a number of the new products.
GETCO will act as dedicated market maker for Boost ETP’s products, making it an ETP market maker on London Stock Exchange for the first time. It brings the total number of firms market making ETFs and ETPs on the UK markets to 26.
To mark the launch, Hector McNeil and Nik Bienkowski, both Co-CEOs at Boost ETP, joined Gillian Walmsley, Head of Fixed Income Products at London Stock Exchange to formally open trading on the London markets this morning.
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Source: London Stock Exchange
Eurex to extend its index derivatives segment
Launch of major regional and emerging markets country index derivatives based on MSCI Indices in a stepwise approach starting Q1 2013/Licensing agreement signed with MSCI
December 11, 2012--The international derivatives market Eurex Exchange announced today that it has signed a licensing agreement with the index provider MSCI.
In the course of 2013, Eurex aims to launch derivatives on around ten regional and 20 country indices. The offering will comprise the major regional indices for developed markets like the MSCI World and MSCI Europe Indices and a broad coverage of emerging markets and the respective country indices, including the MSCI Emerging Markets and MSCI Frontier Markets Indices. The new index derivatives will provide Eurex clients access to emerging markets, which become increasingly important for global investors. This extension will add a significant number of index derivatives to the existing segment which currently covers 70 different indices.
“Based on demand of our members and market participants, we will expand our product suite. The underlying MSCI indices are highly regarded in the financial industry, especially by buy-side institutions,” said Peter Reitz, member of the Eurex Executive Board. “Currently, there are only a few listed index derivatives available globally based on the respective indices. With our planned product initiatives we will offer new hedging opportunities for institutional investors.”
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Source: Eurex
Vienna Stock Exchange Launches Distributing Indices On The ATX
December 10, 2012--Starting today, the Vienna Stock Exchange will calculate and publish the ATX Distributing and the ATX Top Dividend Distributing. The two new indices are a dividend distributing version of their underlying indices.
Dividends play an important role when analysing total return on investment. The calculation of distributing indices is our response to demand for portraying additional dividend strategies.
Unlike total return indices, which reflect the reinvestment of dividends, distributing indices take the payout of dividends into account. The new index design therefore introduces a theoretical cash component that replicates the net dividend payments plus daily accrued interest according to the EONIA interbank rate. The distribution of the cash accumulated theoretically is reflected by resetting the cash component to zero twice a year.
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Source: Vienna Stock Exchange
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