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New ETC Provider Standard Commodities Limited Launched on Xetra
April 20, 2010--Since Tuesday, an ETC issued by the provider Standard Commodities Limited, the ETC platform of the Royal Bank of Scotland, has been tradable for the first time on Xetra®. Standard Commodities Limited is the sixth issuer to be included in the ETC segment of Deutsche Börse.
ETC name: RBS physical Gold ETC
Asset class: commodities
ISIN: DE000A1EDJ96
Management fee: 0.29 percent
Benchmark: Gold PM Fixing
The RBS physical Gold ETC offers investors the opportunity to participate in the performance of the London Gold Market AM fix price in US dollars. The ETC is traded in euros. The RBS physical Gold ETC is an exchange-traded bond backed by physically deposited gold.
Deutsche Börse’s ETC segment product range currently comprises 161 instruments. The monthly trading volume of ETCs on Xetra averages around €440 million.
Source: Deutsche Börse
LSE changes tariffs to attract traders
April 20, 2010--The London Stock Exchange tweaked its tariff structure on Tuesday night to attract high-frequency traders, just months after abandoning a scheme aimed at them.
The move is a sign that the exchange recognises it must attract trading from such market participants as it battles to halt the erosion of its market share to rival platforms such as Chi-X Europe and BAT Europe.
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Source: FT.com
EU chamber says China business climate worsening
April 20, 2010--Growing nationalism and lobbying by local firms is making China more protectionist and hostile towards foreign firms, European businesses claimed on Tuesday.
Market-opening reforms had unmistakably slowed as Beijing gains more economic clout, Joerg Wuttke, president of the European Union Chamber of Commerce in China said, warning it could spark a backlash in Europe.
"The pie is getting bigger and the door is getting narrower," Wuttke told reporters at a press briefing, adding, "we are losing out on opportunities."
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Source: EUbusiness
German bank chief says Greece may need EUR 80 billion euros: report
April 20, 2010--German central bank governor Axel Weber has said Greece may need up to 80 billion euros (108 billion dollars) in financial aid to avoid default, the Wall Street Journal reported on Tuesday.
Weber made the remarks to a small group of German lawmakers at a closed-door meeting, the report quoted a person familiar with the matter as saying.
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Source: EUbusiness
Navellier launches ETF-based suite of strategies
April 20, 2010--Navellier, a registered investment adviser with approximately USD2.6bn under management, is expanding its offerings by introducing an exchange-traded funds-based suite of strategies called Navellier Vireo.
Vireo is a series of actively managed portfolios that seek to deliver superior returns through a focused strategy of avoiding losses, especially during extended market downturns.
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Source: ETF Express
NYSE Arca Europe to introduce U.S. Equities from Wednesday 21 April
April 20, 2010--NYSE Arca Europe, NYSE Euronext’s European Multilateral Trading Facility, today announced that it will be giving customers access to the 100 most liquid U.S. equities, featuring 86 NYSE listed companies and 14 other listings, from Wednesday 21 April, creating the first truly transatlantic trading platform. NYSE Arca Europe is inviting customers to set up their trading arrangements and will be offering a three-month fee holiday from 21 April.
This service will provide trading firms the first-ever opportunity to trade U.S. securities on a European platform during European trading hours with settlement at DTC. In addition to the initial U.S. stocks, further stocks are likely to be introduced in the near future.
Virginie Saade, Head of NYSE Arca Europe, said “This is an exciting day for NYSE Arca Europe as we lead this pioneering venture into U.S. equities. We have a number of market markers who have committed to offering prices in the U.S. stocks and a business that we will, in time, build with our customers.”
Source: Euronext
ETFplus new listing
April 20, 2010--Starting from April 22nd 2010, 1 new ETF will be listed on the ETFplus Market
ISHARES DJ EURO STOXX 50 (ACC)
ISIN:IE00B4L5YV07
Local Market :IEUA
Benchmark:DJ EURO STOXX 50
Source: ETF Plus Market
Deutsche Börse in Q1 2010 with Highest IPO Placement volume in Europe
April 19, 2010--Deutsche Börse ranked number one among Europe's established stock exchanges in Q1 2010 in terms of number of IPOs and placement volume, according to the quarterly IPO study by Ernst & Young. The study reports that the total volume of Deutsche Börse’s IPOs by Kabel Deutschland, Brenntag, Tom Tailor and Joyou amounted to US$ 2.24 billion which is higher than any other European stock exchange.
Kabel Deutschland also was among the top 10 IPOs globally. Furthermore, Deutsche Börse welcomed its first Special Purpose Acquisition Company (SPAC), Helikos,in Q1. By comparison, five companies launched their IPOs in London with a total of US$ 1.9 billion on the main market of LSE, while at NYSE Euronext the total volume for the same period was US$ 0.4 billion.
Deutsche Börse’s high liquidity, and strong analyst network for the environmental technology, pharmaceuticals and health care, automotive and technology/software sectors distinguish it as an attractive European listing venue. These qualities have historically provided IPOs with better valuations and lower capital costs, as academic studies regularly show.
Source: Deutsche Börse
Thomas Lenz Stepped Down from the Eurex Executive Board
April 19, 2010--Thomas Lenz has resigned from all Executive Boards of the Eurex Group and also has stepped down from all managing director posts within Eurex. Lenz (51), an Economics graduate, left the company at his own request. As a Eurex Executive Board member he was responsible for Operations.
Thomas Lenz held numerous management positions within the Group since 1997. His responsibilities will be assumed by Executive Board member Jürg Spillman on an interim basis, effectively immediately.
“We regret Thomas Lenz’s decision and would like to thank him for his longstanding contributions and commitment to the Eurex Group. We wish him all the best for his future career”, said Andreas Preuss, CEO of Eurex.
Source: Eurex
Goldman Sachs charges show need for regulation: EU
April 19, 2010--The fraud charges leveled against top Wall Street bank Goldman Sachs illustrate the need for Europe to act firmly to regulate the murky world of derivatives, a senior EU official said on Monday.
EU Internal Market Commissioner Michel Barnier believes that "the kind of practises which are alleged to have taken place which, if confirmed... would be illegal and incomprehensible," his spokeswoman said.
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Source: AFP
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