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LSE August 2017 ETF & ETP Monthly Report
September 12, 2017--Listings:
12 new ETFs were listed on LSE in August 2017, making a total of 89 new listings year-to-date.
There are now 923 ETFs (available as 1,402 lines through multi-currency offerings) and 451 other ETPs (available as 520 lines) on our London market.
First Trust launched the first active FX ETF in Europe on our market. The First Trust FactorFX UCITS ETF is an actively managed ETF with the aim of delivering total returns with lower correlations to broader equity and fixed income markets over the medium to long term, through its exposure to global currencies and related markets.
iShares launched 2 fixed income ETFs. iShares Global Corp Bond ETF USD Hedged and iShares $ Floating Rate Bond ETF EUR Hedged allow investors to access global and USD corporate bonds with currency hedging.
Xtrackers brought the db x-trackers MSCI World Index UCITS ETF GBP-hedged to London this month. The ETF provides investors with access to large and medium sized companies, across sectors.
Source listed an equity ETF. The Source MSCI Europe Ex-UK UCITS ETF measures equity market performance across European developed countries excluding the UK.
UBS were our most active issuer by number of new listings this month, bringing 7 equity ETFs to London. The UBS ETF MSCI USA Hedged GBP, UBS ETF MSCI EMU Hedged GBP and UBS ETF MSCI Japan Hedged GBP were listed in accumulating and distributing share classes. They provide sterling hedged exposures to US, European Monetary Union and Japanese equities, respectively. The UBS ETF Bloomberg Barclays US Liquid Corporate Interest Rate Hedged UCITS ETF aims to represent the performance of US liquid corporate debt, whilst hedging against underlying interest rate risk.
Trading Activity
Orderbook value traded for ETFs and other ETPs in August 2017 was £:7.7billion (192k trades), up by 3% compared to August 2016.
ETFs accounted for 86% of orderbook value traded and other ETPs (ETCs and ETNs) accounted for 14% in August 2017.
Orderbook value traded for ETFs and other ETPs YTD is £:62.3 billion (1.7m trades), down by 1% compared to 2016.
Total on-exchange value traded for ETFs and other ETPs in August 2017 was £:24.2 billion (289k trades), up by 1% compared to August 2016.
Total on-exchange value traded for ETFs and other ETPs YTD was £:212.3 billion (2.5m trades), up by 3% compared to 2016.
Reacting to North Korea’s missile launch, LSE’s ETP turnover hiked to £:652 million on 29th August, making it the 3rd largest day for ETP trading on LSE so far this year.
Political instability pushed LSE's ETP turnover to £:732 million on 11th August, making it our highest trading day so far this year.
view the LSE ETF & ETP August Update
Source: London Stock Exchange Group
Fund managers passing research costs to clients are 'taking a risk'
September 12, 2017--Analysts and observers anticipate pressure from clients over the minority of fund managers who have declined to absorb the cost of research
Numerous asset managers have now declared how they intend to treat research costs under new EU rules, but analysts have suggested those that pass on costs to investors could be at a disadvantage.
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Source: Financial News
Solactive announces the launch of the first Intuitive BetaTM Indices
September 12, 2017--The new Solactive Intuitive BetaTM Indices constructed around intuitive themes such as workforce efficiency, corporate longevity and value investing are being rolled out.
The Solactive Intuitive BetaTM is an innovative investment approach constituting the bedrock of a series of smart beta indices in which intuition, or gut feeling, takes a prominent role in defining the passive investment strategy.
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Source: Solactive AG
ESMA updates Q&A on MiFID II implementation
September 12, 2017--The European Securities and Markets Authority (ESMA) has published today updated Questions and Answers (Q&As) regarding the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
The purpose of this document is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR in relation to market structure topics.
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Source: ESMA
ESMA sees valuation risk at highest levels due to financial weakness and geopolitical uncertainty
September 12, 2017--The European Securities and Markets Authority (ESMA)'s latest report on Trends' Risks and Vulnerabilities No. 2' 2017 (TRV) identifies high asset price valuations as the major risk for European financial markets in the second half of 2017.
The main risk drivers are uncertainties around geo-political developments, the resilience of economic growth as well as debt sustainability. Market and credit risks, as a result of geopolitical, growth and debt concerns, continued to be very high, while liquidity and contagion risks remained stable but high. The outlook on operational risk remains elevated but the outlook is now negative due to heightened concerns around cyber security.
view the ESMA Report on Trends, Risks and Vulnerabilities No.2 2017
Source: ESMA
Frankfurt certificate exchange celebrates 10th anniversary
September 12, 2017--September 12, 2017--Frankfurt's certificate exchange is now ten years old.
To mark the occasion, today's trading on the Frankfurt Stock Exchange was opened by ringing the traditional stock exchange bell. Currently more than 1.5 million listed products such as certificates and warrants can be traded in Frankfurt. Since April, investors have been able to create their own certificates with almost no restrictions using the "ZERTIfigurator" online construction kit.
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Source: Deutsche Börse Group
Flow Traders Releases August 2017 ETP Market Volumes
September 12, 2017--Flow Traders N.V. ("Flow Traders") (Euronext: FLOW), today releases the monthly ETP (Exchange Traded Products) market data for the month of August 2017. This refers to general market data only.
In August 2017, the Global ETP Assets under Management (AuM) rose to € 3,613bn versus € 3,590bn in July 2017 (Source: BlackRock ETP Landscape August 2017). The changes in FX rates continued to have an impact on the growth in Euro terms, as the AuM continued to grow in US$ terms to US$ 4,297bn in August from US$ 4,234bn in July (+1.5% month-on-month).
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Source: Flow Traders N.V.
Investment banks to clash over Mifid II rules on free research
September 11, 2017--EU legislation requires fund managers to pay directly for analyst research from 2018.
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Source: FT.com
MiFID II: ESMA publishes transitional transparency calculations for bonds and updates calculations for two other asset classes
September 11, 2017-The European Securities and Markets Authority (ESMA) has updated its transitional transparency calculations (TTC) for non-equity instruments in relation to the implementation of the Markets in Financial Instruments Directive/ Markets in Financial Instruments Regulation (MiFID II/ MiFIR).
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Source: ESMA
Clearstream and HedgePole partner on new alternative fund data service
September 11, 2017--Post-trade services provider Clearstream, which is part of Deutsche Börse Group, and HedgePole, a well-established specialist service and technology provider for hedge funds price and reference data, have entered into a cooperation agreement to provide the market with enhanced alternative fund price and reference data services.
The need to provide specific high quality and up-to-date reference data and pricing to end investors for their holdings in alternative investments, such as hedge funds and private equity, as well as key regulatory requirements for compliance and anti-money laundering purposes are a key industry issue. This has led to the evolution of specific information requirements on an individual customer level. Investors all have their own individual priorities when it comes to data requirements.
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Source: Deutsche Börse Group
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