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Irish central bank examines regulation of ETFs
May 21, 2017--Clarification sought on ownership and pricing in $4tn exchange traded fund market.
Ireland's central bank has become the latest regulator to call for greater scrutiny of how the $4tn exchange traded fund industry works and whether existing guidelines are adequate in light of the industry's astronomical growth.
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Source: FT.com
Russian Federation: Staff Concluding Statement of the 2017 Article IV Mission
May 19, 2017--The economy is exiting a two-year recession that, thanks to the authorities' effective policy response and the existence of robust buffers, proved shallower than past downturns.
Growth is expected to reach 1.4 percent this year, supported by easier financial conditions and higher oil prices. Inflation continues to decline, driven by the ruble appreciation and still weak consumer demand, and is forecasted to reach the Central Bank's 4 percent target this year and to remain close to it thereafter.
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Source: IMF
Borsa Italiana: ETF Stat April 2017
May 18, 2017--New Listing
17 new ETFs listed on ETFplus market
Now available 1194 instruments (761 ETFs, 304 ETCs/ETNs and 129 open-end funds)
AUM
The Asset Under Management (AUM) in Italy sets a new record: €60.35 billion (€54.65bn for ETFs, €5.55bn for ETCs/ETNs and €0.151bn for open-end funds) with a growth of 24.21%compared to April 2016
Trading
Total on-exchange value traded for ETFs, ETCs/ETNs and open-end funds was €8.2 billion (341,444 trades), up by 6.88% compared to April 2016
Open-end funds
New record with a daily turnover of €1.4 million
Total on-exchange value traded YTD has increased to €56.90 million, vs €15.85 million YTD 2016
New RFQ functionality
Total on-exchange value traded through RFQ has increased to €501.37 million, vs €125.53 million of March. Since its inception (Dec 2016), the functionality has helped our customers to trade over €1 billion in ETFs
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Source: Borsa Italiana
Six new BNP Paribas ETCs from industrial metals sector launched on Xetra
May 18, 2017--ETCs provide access to Rogers International Commodity Enhanced Indices (RICI) and are tradable in US Dollar
Six new exchange traded commodities (ETCs) issued by BNP Paribas Arbitrage Issuance B.V. have been tradable on Xetra since Thursday.
The new ETCs expand BNP Paribas' product range by giving investors access to the performance of futures contracts from the industrial metals sector in the trading currency US dollars.
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Source: Deutsche Börse Cash Market
ESMA finds improvements in regulators' supervisory practices concerning MiFID rules on fair, clear and not misleading information
May 18, 2017--The European Securities and Markets Authority (ESMA) has published a Follow-up Report on the actions undertaken by ten National Competent Authorities (NCAs) in addressing deficiencies identified in the 2014 Peer Review on MiFID Conduct of Business rules relating to fair, clear and not misleading information (2014 Review).
ESMA welcomes the efforts made by most of the ten NCAs.
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Source: ESMA
ECB-Euro Area Securities Issues Statistics: March 2017
May 16, 2017--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 1.4% in March 2017, compared with 1.3% in February.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 0.9% in March 2017, compared with 0.7% in February.
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Source: ECB
Vanguard move sparks price war for personal investors
May 16, 2017--The huge US investment firm Vanguard is launching a new service to attract personal investors in the UK.
The company specialises in offering tracker funds with very low charges.
Until now most of its business in the UK came through stockbrokers and financial advisers, only dealing directly with individuals with at least £100,000 to invest.
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Source: bbc.com
LSE May 2017 ETF & ETP Monthly Report
May 15, 2017--Listings
14 new ETFs were listed on LSE in April 2017.
There are now 905 ETFs (available as 1,388 lines through multi-currency offerings) and 450 other ETPs (available as 519 lines) on our London market.
LSE were excited to welcome, Fidelity, a first time issuer to our market. Fidelity listed 3 new smart beta ETFs on LSE. These were Fidelity's first ETF listings in Europe and first smart beta listings worldwide.
The Global Quality Income UCITS ETF was launched as a distributing share class and the US Quality Income UCITS ETF was launched as both accumulating and distributing share classes. They provide exposure to companies with attractive dividend yields, within the global and US stock markets respectively.
iShares expanded their current offering through the listing of 9 fixed income ETFs. The new listings include ETFs which track corporate, government and inflation-protected bonds and provide US, Emerging Market and Global exposure.
VanEck launched the VanEck Vectors JPM EM Local Currency Bond UCITS ETF, which tracks the performance of bonds issued in local currency by 16 emerging market governments. Bonds from Brazil, Poland, Indonesia and Mexico have the largest holdings as they have reached their maximum weighting of 10%.
DB X-Trackers launched the DBXT Global Government UCITS ETF, which offers exposure to government bonds of developed countries.
Trading Activity
Orderbook value traded for ETFs and other ETPs in April 2017 was £6.8 billion (193k trades), down by 2% compared to April 2016.
Orderbook value traded for ETFs and other ETPs YTD is £30.5 billion (895k trades), up by 2% compared to 2016.
Total on-exchange value traded for ETFs and other ETPs in April 2017 was £22.5 billion (292k trades), down by 2% compared to April 2016.
Total on-exchange value traded for ETFs and other ETPs YTD was £107 billion (1.3m trades), up by 10% compared to 2016.
Key Developments
LSE was voted "Most Proactive ETF Exchange-Europe" and "Largest Exchange for ETFs-Europe" (by Volume) at the 13th Annual Global ETF Awards® in New York in April 2017.
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Source: London Stock Exchange Group
IMF-Germany: Staff Concluding Statement of the 2017 Article IV Mission
May 15, 2017--Germany's open and innovative economy has been performing well, underpinned by prudent economic management, past structural reforms, and a well-developed social safety net.
Employment growth is strong, the unemployment rate is at a record low, growth is above potential, and the fiscal position keeps strengthening. However, despite high and rising capacity utilization and job vacancy rate, wage growth and core inflation so far remain subdued and business investment lacks momentum, while adverse demographics weigh on long-term growth prospects. The large and persistent current account surplus reflects high domestic savings and better investment opportunities abroad, as well as external factors.
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Source: IMF
New First Trust ETF launched on Xetra
May 15, 2017--Smart beta ETF provides access to US large caps.
The First Trust US Large Cap Core AlphaDEX(R) UCITS ETF has been tradable on Xetra and Börse Frankfurt since Wednesday.
It is based on the NASDAQ AlphaDEX(R) Large Cap Core Index. The aim of the index is to generate positive alpha compared to indices traditionally weighted by market capitalisation.
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Source: Deutsche Börse Cash Market
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