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UBS admits 69 ETCs to London Stock Exchange
March 10, 2010--The London Stock Exchange today announces that UBS has become a new issuer of Exchange Traded Commodities (ETCs) on its markets. The bank has admitted 69 products in its first major issuance of ETCs in Europe outside Switzerland.
Pietro Poletto, Head of ETFs and ETCs at London Stock Exchange Group, said:
“We are delighted to welcome UBS’s new products today. London is fast becoming the venue of choice for issuers looking to break into the European marketplace for exchange traded products. Our market continues to evolve at an encouraging pace as both the breadth of products, and the level of trading activity, maintain trends of strong growth.”
In the last four weeks two European Exchange Traded Fund (ETF) providers, Osmosis Capital and Marshall Wace Indices, have chosen the London Stock Exchange on which to list their first products.
The average daily value traded in ETFs and ETCs across the London Stock Exchange’s markets in February was £169 million, a 19 per cent increase year-on-year. The average daily number of trades was 3,002, an increase of 11 per cent year-on-year.
Source: London Stock Exchange Group
13 new Xmtch ETFs launched on Xetra
March 10, 2010--Since Wednesday, 13 new Xmtch equity index funds from Credit Suisse’s ETF
offering have been tradable on Xetra®. Of the 13 new products, seven are
tradable in euros, four in US dollars, and two ETFs in pounds sterling.
Two of the new Xmtch ETFs on the EURO STOXX 50 and MSCI EMU indices enable investors to participate in the performance of euro area companies.
The EURO STOXX 50 index is comprised of the 50 largest companies from 12 euro area countries. The MSCI EMU index currently includes 299 companies from 11 countries in the European Economic and Monetary Union. Furthermore, the Xmtch on MSCI Europe allows investors to track the performance of European companies in 16 industrialized nations.
Three additional Xmtch ETFs measure the performance of US companies. Via the Xmtch on the Dow Jones Industrial Average, investors participate in equity performance of the 30 largest US companies. The Xmtch on MSCI USA provides an opportunity to track equity performance of at present more than 600 large to mid-cap US companies selected on the basis of their free-float market capitalization. With the Xmatch on Nasdaq 100, participants can invest in the performance of the 100 largest US and international companies by market capitalization in the computer hardware and software, telecommunication, retail/wholesale and biotechnology sectors.
The two ETFs Xmtch on Nikkei 225 and Xmtch on MSCI Japan are a means for investors to measure Japanese companies’ performance. Xtmch on MSCI Pacific ex Japan enables continued investment opportunity in the performance of companies located in the Pacific region excluding Japan.
The two ETFs Xmtch on FTSE 100 and Xmtch on MSCI UK give investors the option of tracking share performance of companies located in the UK.
The last two Xmtch ETFs enable investment in the performance of the MSCI Canada Index and the FTSE/MIB Index. Xmtch on MSCI Canada is a widely diversified index of companies located in Canada. Xmtch on FTSE / MIB comprises the 40 companies with the highest liquidity and market capitalization that are listed on Borsa Italiana.
The product offering in Xetra’s XTF segment currently comprises 589 exchange-traded index funds, making it the largest offering of all European stock exchanges. With this offering and an average monthly trading volume of around €11 billion, Deutsche Börse’s XTF segment is the leading trading venue for ETFs in Europe.
view product table
Source: Deutsche Börse
ETF Landscape: European STOXX 600 Sector ETF Net Flows, week ending 05-Mar-10
March 10, 2010--Last week saw US$200.7 Mn net inflows to STOXX 600 sector ETFs. The largest sector ETF inflows last week were in Media with US$90.7 Mn and Banks with US$63.9 Mn while Utilities experienced net outflows of US$50.3 Mn.
Year-to-date, Media has been the most popular sector with US$275.4 Mn net new assets, followed by Utilities with US$139.8 Mn net inflows. Telecommunications ETFs have been the least popular with US$307.8 Mn net outflows YTD.
The assets invested in the ETFs are greater than the open interest in the corresponding futures contract in 17 out of 19 sectors.
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Source: ETF Research and Implementation Strategy, Blackrock
Deutsche Börse to Expand Product Offering on Xetra International Market
Deutsche Börse to Expand Product Offering on Xetra International Market
March 10, 2010--Deutsche Börse plans to expand the scope of tradable instruments on its pan-European platform Xetra International (XIM) market from 86 securities at present to 1,000.
By summer 2010 the existing offering for France, the Netherlands, Belgium, Finland, Spain and Italy will be enlarged by 700 securities. In this way all EURO STOXX instruments from these countries and additional highly liquid ones will become tradable and will be settled in their home countries.
In the second half of 2010 Deutsche Börse plans to admit to trading securities from the STOXX Europe 600 from Switzerland, Great Britain, and Ireland – the first two in their domestic currency, Ireland in euro. Planned to follow at the end of the year are shares from Austria, Denmark, Greece, Norway, Portugal and Sweden as well as Polish shares from the STOXX Eastern Europe 300 and further highly liquid securities from these seven countries. In total 1,000 shares will then be available for trading on XIM. The expansion is subject to respective national regulatory approval.
Transactions executed on Xetra International Market will be offset via Eurex Clearing and settled cost-effectively in the respective domestic markets. Clearstream forms the interface between Eurex Clearing and the domestic markets enabling Clearstream to use the settlement liquidity of these markets.
With its top market quality, competitive price model, and low set-up costs for participants, XIM will significantly strengthen Deutsche Börse’s competitive position on the European equities trading market. Deutsche Börse Group uses economies of scale for the new trading segment on Xetra and in the clearing house as XIM is set up on the existing infrastructure, generating hardly any additional costs in system operation. Deutsche Börse thus expects XIM to be a very sustainable business model.
Source: Deutsche Börse
ETF Stat February 2010 Report-ETF Plus Market
March 10, 2010--ETF Stat February 2010 Report-ETF Plus Market is now available.
view report
Source: Borsa Italiana
ETF Securities Offers First Currency-ETNs on Xetra
March 10, 2010--Ten Exchange Traded Notes (ETNs) issued by the issuer ETF Securities have been tradable on Xetra since Wednesday.
With the new ETNs, ETF Securities offers investors a first opportunity to participate in the performance of currencies.
The underlying indices display the exchange rate development of the Euro against Swiss Franc, British Pound, Norwegian Krone, Swedish Krona and Yen. Depending on the investor’s choice he has the opportunity to benefit from an either rising or declining Euro rate.
“We welcome these further innovative listings – they underline our market-leading position of trading in Europe,” said Rainer Riess, Managing Director of Xetra Market Development at Deutsche Börse.
Unlike exchange traded commodities (ETCs), which have been tradable with Deutsche Börse since 2006, ETNs are based on indices outside the commodities sector. Deutsche Börse combines the asset categories ETCs and ETNs into the product range Exchange Traded Products (ETPs). The ETF- and ETP product range currently comprises 589 ETFs, 155 ETCs and 12 ETNs.
view list
Source: Deutsche Börse
Barclays' nous lifts hopes of US dream
March 10, 2010--Frits Seegers, the former retail banking chief at Barclays, was famously bearish about the US. “There are huge opportunities in Europe. The US is very different – it’s a bet on the economy and the risk-reward calculation doesn’t make sense yet,” he told the FT last September.
How times change. Economic prospects, particularly in the US, might look that much brighter six months on, but the crucial difference now is that a new man is in charge, after Mr Seegers was ousted late last year. And Antony Jenkins, his replacement and former Citigroup executive, is a fan of America.
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Source: FT.com
ECB to examine European IMF plan: Trichet
March 10, 2010--The European Central Bank will examine Germany's proposal for the creation of an emergency loan fund for eurozone economies in distress, ECB chief Jean-Claude Trichet said on Wednesday.
"We don't reject the idea at this stage. We have to look at it and look at the details," Trichet told reporters on the sidelines of an exhibition opening in Frankfurt, where the ECB is headquartered.
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Source: EUbusiness
Euro-Parliament urges tax on financial operations
March 10, 2010--The European Parliament on Wednesday called for a worldwide tax on financial transactions that would help pay for the economic crisis and could aid the fight against global warming.
"The European Union should come up with a common position... on options for the financial sector to make a just and substantial contribution" through such a tax, read the text of a resolution by the parliament.
If a global agreement is impossible, the EU should "elaborate its own strategy", EU lawmakers added in their non-binding resolution.
Financial transactions: adopted text is available here
Source: EUbusiness
EU powers to demand crackdown on 'speculators': Greece
March 10, 2010--France, Germany and the Eurogroup of eurozone finance ministers will call on the European Commission to detail plans to clamp down on speculators, Greece's foreign minister said on Wednesday.
"Germany, France, Greece and (Eurogroup chief Jean-Claude) Juncker will send a joint letter to the president of the European Commission Jose Manuel Barroso," Foreign Minister Dimitris Droutsas said on Greek television Net.
Droutsas said the letter would call for "very precise measures against speculators" and was "a first step" in plans to cut down speculation on financial markets, particularly in highly opaque derivatives trading.
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Source: EU Business
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