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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
Xmtch (IE) Plc-Starting from March 10th 2010, 13 new ETF will be listed
March 10, 2010--Borsa Italiana welcomes on the ETFplus market 13 new ETFs managed by Xmtch (IE) Plc, the new offer is composed as follow:
13 ETFs on developed countries: XMTCH (IE) ON DOW JONES EURO STOXX 50, XMTCH (IE) ON FTSE 100, XMTCH (IE) ON FTSE MIB, XMTCH (IE) ON NIKKEI 225, XMTCH (IE) ON MSCI PACIFIC EX JAPAN, XMTCH (IE) ON MSCI UK, XMTCH (IE) ON MSCI JAPAN, XMTCH (IE) ON MSCI EUROPE, XMTCH (IE) ON MSCI EMU, XMTCH (IE) ON NASDAQ 100, XMTCH (IE) ON DOW JONES IND AVERAGE, XMTCH (IE) ON MSCI USA, XMTCH (IE) ON MSCI CANADA.
Source: Borsa Italiana
Amundi Investment Solution-Starting from March 9th 2010, 15 new ETF will be listed
March 10, 2010--Borsa Italiana welcomes on the ETFplus market 15 ETFs issued by the new comer Amundi Investment Solution (Crédit Agricole), the new offer is composed as follow:
6 ETFs on developed countries: AMUNDI ETF MSCI ITALY, AMUNDI ETF MSCI USA, AMUNDI ETF MSCI PACIFIC EX JAPAN, AMUNDI ETF DOW JONES EURO STOXX 50, AMUNDI ETF MSCI EUROPE, AMUNDI ETF MSCI EMU
3 ETFs on emerging countries:AMUNDI ETF MSCI EASTERN EUROPE EX RUSSIA, AMUNDI ETF MSCI CHINA, AMUNDI ETF MSCI INDIA
3 leveraged ETFs: AMUNDI ETF LEVERAGED MSCI USA DAILY, AMUNDI ETF LEVERAGED MSCI EUROPE DAILY, AMUNDI ETF LEVERAGED DJ EURO STOXX 50
3 short ETFs: AMUNDI ETF SHORT MSCI USA DAILY, AMUNDI ETF SHORT MSCI EUROPE DAILY, AMUNDI ETF SHORT DOW JONES EURO STOXX 50
Source: Borsa Italiana
ETF Statistics February 2010 -London Stock Exchange
March 9, 2010--ETF Statistics February 2010 from the London Stock Exchange are now available.
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Source: London Stock Exchange
Investors warn EU on private equity rules
March 9, 2010--Europe risks building a protectionist wall between itself and the global private equity industry if plans for a sweeping overhaul of regulation in the sector go ahead, some of the world’s biggest institutional investors have warned.
The warning from the International Limited Partners Association, representing 220 of the biggest pension funds, endowments and sovereign wealth funds, comes at a sensitive time with European Union lawmakers and member states close to agreeing new rules.
Investors based in the EU could be barred from investing in private equity funds based outside the 27-country bloc, said the ILPA, whose members have more than $1,000bn (£667bn) invested in private equity worldwide
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Source: FT.com
Study says longevity hedges can help funds
March 9, 2010--Pension fund trustees interested in offloading the risk that their members live longer than expected should be prepared for a lengthy and complicated process but can reap rewards for their organisations, according to scheme managers.
Off-loading longevity risks stabilises pension liabilities, frees up cash and improves a company’s share price but can be costly and hamper later efforts to get rid of an entire scheme, according to a new report from pension fund managers who have done such deals and others who have looked at them.
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Source: FT.com
Greece planning more bond issues in March: report
March 9, 2010--Greece is planning to raise around 10 billion euros (13.6 billion dollars) this month by issuing bonds as it races to meet debt requirements, Dow Jones Newswires reported on Tuesday citing officials.
"Greece would like about 10 billion euros from bond issuance in March," an anonymous official was quoted as saying. The official said the money would be "a good cushion before the big debt maturities in April and May".
Greece needs to redeem debts of around 20 billion euros by the end of May.
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Source: EUbusiness
Merkel renews push for 'sanctions' under Euro rescue fund
March 9, 2010--German Chancellor Angela Merkel insisted Tuesday that plans for a European Monetary Fund will only work if strengthened "sanctions" are incorporated to penalise wayward spenders.
Speaking in Luxembourg, after meeting Prime Minister Jean-Claude Juncker, who presides over a group of finance ministers from the 16 countries that share the euro, Merkel also pushed the European Commission to act on derivatives that are partly blamed for exacerbating the Greek debt crisis.
"There must be sanctions," she said of plans that were due to be outlined to his European Commission peers by the EU's economic and monetary affairs overlord Olli Rehn in Strasbourg, France, on Tuesday.
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Source: EUbusiness
Longevity market needs to show depth and maturity, say pension execs
March 9, 2010--Pensions executives have raised concerns about the growth of the longevity hedging market, as some individuals are concerned about whether there is enough capacity and transparency in the market to assist the majority of pension plans.
A study released by ClearPath Analytics suggesting, entitled Longevity Hedging for Pnesion Plans, has found there are still very mixed views about the potential for pension funds to hedge against ageing populations and its impact on pension liabilities.
In particular, both Ian Chisholm, general manager of the trustee services unit at Shell UK and Penny Green, CEO of Saul Trustees believe the sheer complexity and lack of transparency regarding transactions is still a key concern putting many pension trustees off the use of longevity hedging.
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Source: IP&E
CESR publishes an update on the assessment of the proposals for MiFID pre-trade transparency waivers
March 9, 2010--The MiFID compliance of these functionalities has been assessed at CESR level on the basis of the new joint process that CESR launched in February 2009.
The table(Ref. CESR/09-324) includes information on a new assessments made at CESR level regarding an application for a waiver to be granted on the basis of the MiFID Implementing Regulation that CESR considered not to be compliant with MiFID.
Source: CESR
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