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ESMA asks Commission to delay CSDR technical standards
June 18, 2015--The European Securities and Markets Authority (ESMA) has published today a letter informing the European Commission of its intention to delay its draft technical standards (TS) for the Central Securities Depositories Regulation (CSDR) to September 2015
The initial delivery date of the CSDR TS was 18 June 2015.
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Source: ESMA
New currency ETN from ETFS Foreign Exchange launched on Xetra
ETN tracks the exchange rate movements of the euro to the Swiss franc
June 17, 2015--A new exchange traded note (ETN) from the ETFS Foreign Exchange Limited product family has been tradable via Xetra and Börse Frankfurt since Wednesday.
ETF name: ETFS 5x Short CHF Long EUR
Asset class: currency ETN
ISIN: DE000A15P0U3
Total expense ratio: 0.98 percent
Distribution policy: accumulating
Benchmark: MSFX 5 Times Short Swiss Franc/Euro Index
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Source: Xetra
EU Seeks Transaction Tax as 11 States Meet in Bid to Choose Path
June 17, 2015--The 11 European nations seeking a financial-transactions tax will meet Thursday in Luxembourg in a bid to decide how to design the measure, according to European Union officials.
Participating states are wrangling over which trades to tax and who should collect revenue, according to planning documents obtained by Bloomberg News. Finance ministers and deputies are next slated to meet in Luxembourg with EU Economic and Tax Commissioner Pierre Moscovici before scheduled meetings of all 19 euro-area finance ministers.
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Source: Bloomberg
Lyxor and J.P.Morgan team up to launch an innovative range of risk factor ETFs
June 17, 2015--Lyxor ETF, the second largest issuer of ETFs in Europe in terms of inflows year to date, with almost EUR 50 billion in assets under management, is partnering with J.P. Morgan to launch a new range of risk factor ETFs.
This approach reflects Lyxor's commitment to developing Smart Beta ETFs in order to offer investors risk diversification solutions and targeted tools designed to improve a portfolio's long-term performance.
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Source: Lyxor
Credit Agricole, SocGen to List Asset Management JV Amundi
June 17, 2015--French banks Societe Generale SA (GLE.FR) and Credit Agricole SA (ACA.FR) said Wednesday they planned to list their asset management joint venture Amundi.
While Societe Generale could sell all its shares in Amundi, Credit Agricole will retain a majority stake in the French asset management firm, the banks said in a joint statement.
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Source: Morningstar
New ETF Listing on Euronext-PowerShares
June 17, 2015--Euronext is pleased to announce that PowerShares will list 1 new ETF on 19/06/2015:
ISIN: IE00BX8ZXS68
ETF Trading name: PS SP VEQTOR ETF
ETF Symbol: SPVX
Venue: Euronext Paris
Underlying index: S&P 500 Dynamic VEQTOR Index
TER (%): 0,39
Euronext now offers 644 ETFs listed on the European markets.
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SOurce: Euronext
More transparency for securities financing transactions: Council and Parliament agree new rules
June 17, 2015--On 17 June 2015, the Council presidency and the European Parliament reached an agreement on a regulation to improve the transparency of securities lending and repurchase transactions.
The regulation will enhance financial stability by ensuring that information on so-called securities financing transactions is efficiently reported to trade repositories and investors in collective investment undertakings. Improved transparency will prevent banks and other financial intermediaries from attempting to circumvent regulation by shifting parts of their activities to the less-regulated shadow banking sector.
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Source: European Council
Bond Buyers Beware: Bund's premium irrational with Eurozone moving beyond crisis point
June 17, 2015--Too much longevity in ECB' QE program may have been priced into Eurozone's safest long-dated bonds as sub-zero inflation linked bond yields of Germany suggest unrealistic 'crisis like' conditions.
The re-leveraging of banks' balance sheets suggests a departure of government debt hoarding and the return of more risk-taking behavior as bank credit growth put a domestic demand-led recovery on a more solid footing. The bond market in Europe looks increasingly vulnerable to more volatility.
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Source: WisdomTree Blog Europe
Amundi appoints deputy CIO
June 16, 2015--Amundi has announced the appointment of Vincent Mortier as deputy chief investment officer.
He will also become a member of the executive committee.
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Source: investmenteurope.net
EU regulators stick to their guns over broker commission rule
June 16, 2015--Stock market research used by asset managers must be paid for separately and not bundled into broker commission, European Union regulators said on Tuesday in the face of pushback from some lawmakers.
A new EU law governing financial transactions comes into effect in 2017 and the European Commission and the European Securities and Markets Authority (ESMA) are working on how it will be applied in practice.
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Source: Reuters
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