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Europe's first physical replication CSI300 ETF launched on Xetra
Deutsche Börse European market leader in China ETF trading
January 16, 2014--Effective Thursday, the db X-trackers Harvest CSI300 Index UCITS ETF (DR) enables European investors to participate for the first time in the performance of the Chinese CSI300 Index via physical replication. The ETF was issued by Deutsche Asset & Wealth Management together with Harvest Global Investments.
The new ETF provides investors with direct access to the 300 largest Chinese A-shares in terms of market capitalisation and liquidity. These equities are listed on the Shanghai and Shenzhen stock exchanges and can only be purchased by foreign investors under certain conditions. Hong Kong-based Harvest Global Investments has the required RQFII (renminbi qualified institutional investor) authorisation, which means the ETF can invest directly in A-class equities
ESMA publishes updated Q&A on the Prospectus Directive
January 15, 2014--ESMA updated today its Q&A on prospectus related issues by including two new questions and answers.
The newly added items concern the format of the individual summary for several securities and the applicable registration document schedule where a listed issuer proposes to issue convertible or exchangeable debt securities where the underlying securities are the issuer's shares.
The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of the Prospectus Directive (PD) and its implementing measures.
view the ESMA Q&A Prospectuses-
21st updated version- January 2014
HSBC, RBS and SG to offer delegated reporting
The trio join five other banks in offering to report clients' trades to a trade repository on their behalf
January 15, 2014--Royal Bank of Scotland (RBS), HSBC and SociétéGénérale are the latest dealers to confirm that they will offer delegated trade reporting services to their clients in time for the start of mandatory reporting in Europe on February 12.
The trio join BNP Paribas, Citi, Credit Suisse, Lloyds and UBS, which have all confirmed they will offer to report their counterparty's side of the trade direct to a trade repository.
New UBS ETF launched on Xetra
ETF provides access with currency hedging to MSCI USA for the first time
January 15, 2014-- A new exchange-listed equity index fund issued by UBS (Irl) ETF plc has been tradable in Deutsche Börse's XTF segment since Wednesday.
ETF name: UBS (Irl) ETF plc - MSCI USA 100% hedged to EUR UCITS ETF (EUR) A-acc
Asset class: equity index ETF
ISIN: IE00BD4TYG73
Total expense ratio: 0.30 percent
Distribution policy: non-distributing
Benchmark: MSCI USA 100% hedged to EUR
The new UBS ETF enables investors to participate for the first time in the performance of the MSCI USA index and also to benefit from hedging against exchange rate fluctuations between the euro and the dollar.
Russian economy growing but further reforms needed, says OECD
January 15, 2015-- The Russian Federation's economy is growing, but further reforms are needed to bolster future growth, improve the business climate and strengthen innovation, according to the OECD.
The OECD Economic Survey of Russia, presented by OECD Secretary-General Angel Gurría to First Deputy Prime Minister Igor Shuvalov during a special panel of the Gaidar Forum in Moscow today, underscores the importance of making the economy less dependent on fluctuations of world market prices for natural resources, increasing productivity, and better matching skills to jobs. It also calls on the Russian Federation to tackle inter-regional inequality, an area where progress has been slow in the last decade.
Globally, investors continued to increase their usage of short & leveraged ETPs in 2013. Global S&L ETP assets rose by $10bn (22%) in 2013 to a record $54.8 billion Euronext Monthly ETF Activity Report -December 2013
Assets Under Management (AUM) At the end of December 2013, the combined AUM of all ETFs listed on Euronext's markets totalled €160.2 billion.
Market Quality In December, 5 LPs took on liquidity responsibilities for 11 new LP contracts on 11 different ETFs:
ETP Service Update Further to the Info Flash plublished on 4 November 2013 regarding the launch of a multicurrency facility for Exchange Traded Products (ETPs) on Euronext, we are pleased to announce that the go-live of this new service is expected for mid-February 2014. For more information, visit https://europeanequities.nyx.com/sites/europeanequities.nyx.com/files/if131217ca_2_launch_of_multi-currencies_for_exchange-traded_funds.pdf view the US Monthly ETP Report Deal to regulate financial markets and products and curb high-frequency trading ECB to simplify European bad loan definition in health check UK Fund Reporting Status for Boost ETPs is Granted
January 14, 2014-- The five best performing ETPs/ETFs/ETCs in 2013 listed on the London Stock Exchange (LSE) were BOOST ETPs providing leveraged exposure to equities and short exposure to precious metals
The top performing ETP on the LSE in 2013 was BOOST NASDAQ 100 3x Leverage Daily ETP (QQQ3), which returned 136.8%, and the second best performer was BOOST Russell 1000 3x Leverage Daily ETP (3USL), which returned 118.3%
As increasing risk appetite drove investors into the rising equity market, safe haven assets such as gold and silver suffered; BOOST Gold 3x Short Daily ETP (3GOS) and BOOST Silver 3x Short Daily ETP (3SIS) gained 100.9% and 96.1% , respectively
January 14, 2014--Listings
In December, Lyxor listed 4 new ETFs on Euronext Paris:
In the beginning of December, Vanguard lowered the TER of their Amsterdam-listed fund VFEM from 0.45bps to 0.29bps, making it the EM ETF in Europe with the lowest TER.
At the end of December, Euronext's markets counted 656 listings of 566 ETFs from 17 issuers.
Trading activity
Average daily value traded on-book in December of €231.9 million, an increase of 19.0% vs November 2013, and up 20.0% vs December 2012.
Total value traded on-book amounted to €4.6 billion, an increase of 13.3% vs November 2013, and up 14.4% vs December 2012.
Average of 6,550 on-book trades (single-counted) executed daily last month, an increase of 5.2% vs November 2013, and up 24.8% vs December 2012.
Total of €249.5 million exchanged in block trades in December, up 80.0% from the €138.6 million in November and down 79.4% vs December 2012.
Overall, block trade volume represented 5.4% of the total regulated market ETF trading activity on Euronext.
SG Securites took the lead on the 4 new Lyxor ETFs.
Citigroup added 3 Amundi ETFs to their list.
Flow Traders started activity on 1 EasyETF and 1 Vanguard ETF.
Commerzbank ended their strong activity this year by adding 1 HSBC ETF to their list.
BNP Paribas started activity on 1 EasyETF
Median spread for all listed ETFs of 39.8 bps, an increase of 65% vs November 2013 and up 59% vs December 2012.
23 Liquidity Providers currently active on ETFs.
January 14, 2014--Comprehensive rules to govern financial markets were agreed informally by negotiators for Parliament and the Council of Ministers on Tuesday. These rules are designed to close the loopholes in the existing legislation, ensuring that financial markets are safer as well as more efficient, investors are better protected, speculative commodity trading is curbed and high-frequency trading is regulated.
The new rules will apply to investment firms, market operators and services providing post-trade transparency information in the EU. They are set out in two pieces of legislation, a directly applicable regulation dealing inter alia with transparency and access to trading venues and a directive governing authorisation and organisation of trading venues and investor protection
January 14, 2014--The ECB is set to allow the euro zone's top banks to meet less stringent definitions for bad loans than previously planned when it makes an unprecedented review of lenders' balance sheets this year.
The 128 lenders under scrutiny by the European Central Bank were allowed to apply the softer "simplified definitions" for bad loans in their first data submissions for the asset quality review (AQR).
January 14, 2014--Boost, the award winning and independent exchange traded product (ETP) provider,, announced that HM Revenue & Customs has approved all current Boost ETPs as "UK Reporting Funds" under the provisions of The Offshore Funds (Tax) Regulations 2009 (the "Regulations").
This means that a sale of Boost ETPs by UK taxable investors will be regarded as a disposal subject to UK capital gains tax (CGT). CGT will only be charged to the extent that the gains arising to an investor in any particular tax year exceed the relevant annual exemption threshold. Boost advises all investors to consult their own tax advisor to ascertain the implications (if any) of this information.
