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S&P Dow Jones Indices-Europe Index Dashboard
February 27, 2015--The European equity markets have been having a ripping year so far and the S&P Europe 350 added a further 6.9% during February, bringing the year-to-date returns to 14.7%.
Every single one of the S&P Europe 350's ten sectors finished in positive territory, as did the component contribution from every country in the index. The U.K.'s outsized contributed was exaggerated by currency movements; the euro continued to weaken over the month and closed at a seven-year low versus the pound.
In our strategy charts, the S&P Europe 350 Buyback Index jumped into the lead for the year with a highly commendable 8.4% return for the month.
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Source: S&P Dow Jones Indices
Deutsche Börse welcomes WisdomTree Europe as new ETF issuer on Xetra
ETFs track smart beta index strategies
February 26, 2015--Six exchange-traded funds (ETFs) issued by WisdomTree Europe have been tradable on Xetra for the first time since Thursday.
WisdomTree is one of the five largest ETF issuers on the US market and has been offering smart beta ETFs there since 2006. The Xetra listing now also enables European investors to participate in the performance of selected WisdomTree dividend strategy indices.
"We are pleased to welcome WisdomTree as a new ETF issuer on Xetra. Smart beta ETFs are increasingly popular among investors and are displaying dramatic growth rates on Xetra in terms of number of products as well as trading volume. The new ETFs from WisdomTree are thus a real asset to our offering," said Michael Krogmann, Head of Market Development at Deutsche Börse.
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Source: Xetra
Best Execution under MiFID
February 25, 2015--The European Securities and Markets Authority (ESMA) has conducted a peer review on how national regulators (national competent authorities or NCAs) supervise and enforce the MiFID provisions relating to investment firms' obligation to provide best execution, or obtain the best possible result, for their clients when executing their orders.
ESMA found that the level of implementation of best execution provisions, as well as the level of convergence of supervisory practices by NCAs, is relatively low. In order to address this situation a number of improvements were identified, including:
view the Best Execution under MiFID Peer Review Report
Source: ESMA
Two new ComStage ETFs launched on Xetra
ETFs offer access to corporate stocks from Italy and Spain
February 25, 2015--Two new equity index ETFs issued by ComStage have been tradable in Deutsche Börse's XTF segment since Wednesday.
ETF name: ComStage MSCI Italy TRN UCITS ETF
Asset class: equity index ETF
ISIN: LU1104574725
Total expense ratio: 0.25 percent
Distribution policy: accumulating
Benchmark: MSCI Italy Index
ETF name: ComStage MSCI Spain TRN UCITS ETF
Asset class: equity index ETF
ISIN: LU1104577314
Total expense ratio: 0.25 percent
Distribution policy: accumulating
Benchmark: MSCI Spain Index
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Source: Deutsche Börse
Bank regulation takes back seat to kick-starting economy
February 25, 2015--As the banking crisis fades in memory, only to be replaced by a lingering economic slowdown, governments are losing interest in financial reform despite warnings that dangers still lurk.
The shift could mark the beginning of an era reminiscent of the more hands-off approach to regulation preceding the 2008 financial crash, albeit one that follows a raft of reforms-from capping bonuses to boosting capital-that have curbed banks' freedom to take risks
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Source: Reuters
Money market funds set for partial reprieve in EU vote-document
February 25, 2015--Europe's trillion euro money market funds industry faces major reform on Thursday when European Union lawmakers vote on new rules aimed at avoiding investor runs in a crisis.
However, according to parliamentary compromises seen by Reuters, one type of money market fund (MMF) looks set to escape a requirement that industry said would spell its demise.
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Source: Reuters
Broker-Research Payment Plans Face EU Lawmaker Skepticism
February 25, 2015--European Union plans to rein in asset managers who use clients' money to pay for research face resistance from legislators concerned that the proposed rules could harm small business.
Markus Ferber, the European Parliament's lead lawmaker on an overhaul of the EU's financial-markets law known as MiFID II, said he's "not entirely happy" with regulators' proposals that would force asset managers to separate payments for research from those they make to brokers to execute trades.
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Source: Bloomberg
Comparing systemic risk in European government bonds and national indices
February 24, 2015--It has been shown, that the systemic risk contained in financial markets can be indicated by the change of cross-correlation between different indices and stocks.
This change is tracked by using principle component analysis (PCA). We use this technique to investigate the systemic risk contained in European economy by comparing government long term bonds and indices.
view the Comparing systemic risk in European government bonds and national indices paper
Source: Cornell University Library
New Deka equity index ETF launched on Xetra
ETF provides access to corporate stocks from ex EMU Europe
February 24, 2015--A new equity index ETF issued by Deka Investment GmbH has been tradable in Deutsche Börse's XTF segment since Tuesday.
ETF name: Deka MSCI Europe ex EMU UCITS ETF
Asset class: equity index ETF
ISIN: DE000ETFL458
Total expense ratio: 0.30 percent
Distribution policy: distributing
Benchmark: MSCI Europe ex EMU Index
The Deka MSCI Europe ex EMU UCITS ETF enables investors to participate in the performance of the MSCI Europe ex EMU Index.
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Source: Xetra
1,000th ETF listed on SIX Swiss Exchange
With five new ETFs from UBS, the selection available on SIX Swiss Exchange has risen to 1,000 products.
February 24, 2015--The continually growing selection of ETFs on SIX Swiss Exchange has now reached a new high point. With five ETFs listed by UBS today, the number of products has risen to 1,000 for the first time.
This means investors have an even larger range of options for achieving their investment goals in a simple, reliable and cost-efficient way.
"We are proud of reaching this milestone, and we would like to thank our issuers for the trust they show in us with each product launched," commented Danielle Mair, ETFs & ETPs Sales Manager for SIX Swiss Exchange. The products listed by UBS today comprise one active ETF and four ETFs that replicate a Swiss stock index.
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Source: SIX Swiss Exchange
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