BlackRock UK awarded RQFII license, precursor to China ETF
June 27, 2014--BlackRock, the asset manager behind the iShares brand of exchange-traded funds, has been awarded its second Renminbi Qualified Foreign Institutional Investor (RQFII) licence by the China Securities Regulatory Commission (CSRC).
The licence has been awarded to BlackRock's UK registered business, enabling the firm to invest in domestic capital markets in China including the A-Share equity and onshore bond markets.
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Lyxor plans split ETF ranges in preparation for Tobin tax
June 26, 2014--Lyxor Asset Management is preparing to split parts of its exchange traded fund range into French retail funds and vehicles for the rest of the world in order to maintain tax optimisation if a group of European nations introduce a financial transactions tax.
"We are probably going to create a range for French retail that is PEA-eligible and a separate range for the majority of our clients who are elsewhere, so we can serve both," says Arnaud Llinas, global head of ETFs and indexing at Lyxor.
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Government issues first Islamic bond
June 25, 2014--The government has today (25 June 2014) cemented Britain's position as the western hub for Islamic finance by becoming the first country outside the Islamic world to issue sovereign Sukuk, the Islamic equivalent of a bond.
The government confirmed that £200 million of Sukuk, maturing on 22 July 2019, have been sold to investors based in the UK and in the major hubs for Islamic finance around the world.
The UK,s first sovereign Sukuk received very strong demand, with orders totalling around £2.3 billion, and allocations have been made to a wide range of investors including sovereign wealth funds, central banks and domestic and international financial institutions.
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Schroders backs ETF business
June 25, 2014--Schroders, the London-listed active fund manager, has backed a wealth management business that invests its clients' money purely in passive funds.
Schroders joins a group of entrepreneurs who have invested $32 million in Nutmeg, an online exchange-traded fund (ETF) specialist launched in 2012.
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Morgan Stanley introduces smart beta ETF on LSE
June 24, 2014--Morgan Stanley has launched its debut exchange-traded fund, the MS Scientific Beta Global Equity Factors UCITS ETF (GEF).
The ETF, which was unveiled on the London Stock Exchange earlier this month, provides exposure to the Scientific Beta Developed Multi-Beta Multi-Strategy Equal Weight Index and is the first ETF to be launched between Morgan Stanley and smart beta index provider ERI Scientific Beta.
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ESMA publishes draft RTS on CRA3 transparency requirements
June 24, 2014--The European Securities and Markets Authority (ESMA) has published its Final Report on draft Regulatory Technical Standards (RTS) required under the Credit Rating Agencies (CRA3) Regulation regarding information on transparency of structured finance instruments, the European Rating Platform and periodic reporting of fees charged by credit rating agencies.
The draft RTS, which complement the existing regulatory framework for credit rating agencies (CRAs), cover:
disclosure requirements on structured finance instruments (SFIs);
the European Rating Platform (ERP); and
the periodic reporting on fees charged by CRAs.
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Source slashes price of S&P 500 ETF to just 0.05%
June 23, 2014--Source, one of Europe's leading providers of exchange-traded funds, has slashed the management fee on its S&P 500 ETF.
At just 0.05%, or five basis points, the Source S&P 500 UCITS ETF (SPXS) is now one of the most aggressively priced ETFs globally.
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Source slashes price of S&P 500 ETF to just 0.05%
June 23, 2014--Source, one of Europe's leading providers of exchange-traded funds, has slashed the management fee on its S&P 500 ETF.
At just 0.05%, or five basis points, the Source S&P 500 UCITS ETF (SPXS) is now one of the most aggressively priced ETFs globally.
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Q&A IX on EMIR Implementation
June 23, 2014--The Q&A,s purpose is to promote common supervisory approaches and practices in the application of EMIR.
It provides responses to questions posed by the general public, market participants and competent authorities. The Q&As are aimed at national competent authorities to ensure convergent supervisory activities. It should also help investors and other market participants by providing clarity on the requirements under EMIR.
This is the 9th update of the EMIR Q&A.
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Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR)
