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iShares lists International ETF on Euronext Amsterdam
First ETF with an international security settlement structure in continental Europe
February 11, 2014--Today iShares, the exchange-traded funds offering of BlackRock, listed its iShares Euro Stoxx 50 ex-Financials UCITS ETF (EXFN) on the Amsterdam market of Euronext.
This fund is the first ETF to come to market in continental Europe using an international security structure, where settlement of transactions is exclusively at Euroclear Bank-the Brussels-based international central securities depository (ICSD).
Previously, cross-border transactions in ETFs settled in multiple national central securities depositories (CSDs) with related re-alignment costs and risks. With this new international security structure, the iShares ETF will be issued and settled for the first time in an International CSD (ICSDs)- in this instance Euroclear Bank, facilitating better cross-border liquidity provision and in parallel reducing operational and trading costs for ETF investment, potentially resulting in growth of the European ETF market.
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Source: NYSE Euronext
Boost Excessive bullishness in natural gas catches 'cold'
February 11, 2014--Summary
Large drawdowns of natural gas inventory caused by US's extreme cold weather have fuelled speculative bullish bets in US natural gas
The narrowing of unusual wide positive spread between natural gas March and April futures indicates expectations of fading cold weather conditions being worked through into weakening prices for March futures
Caught wrong-footed, speculators have started unwinding their long positions from elevated levels, setting in motion a long squeeze in natural gas, pressuring prices further
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Source: Boost
ETFs show zeal remains for European stocks
February 11, 2014--Global financial jitters this year may have triggered substantial fast money flows out of emerging market and US equities, but such concerns have failed to damp enthusiasm for European stocks
according to data on exchange traded funds....
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Source: FT.com
ESMA provides further details on trade reporting in updated EMIR Q&A
February 11, 2014--The European Securities and Markets Authority (ESMA) has issued today updated Question & Answers (Q&As) on the implementation of the European Markets Infrastructure Regulation (EMIR).
These updated Q&As clarify, among others, issues related to reporting to trade repositories (TRs) such as on how to construct and generate Unique Trade Identifiers (UTI), the reporting of empty/not available fields and the UPI taxonomy.
view the Q&A Implementation of the Regulation (EU) No 648/2012 on (EMIR)
Source: ESMA
Lyxor launches three ETFs for emerging markets
February 11, 2014--Lyxor Asset Management has listed three ETFs indexed to emerging markets on NYSE EURONEXT Paris.
The funds aim to give investors simplified exposure to the performance of emerging markets excluding the BRIC countries, Emerging Markets OECD member countries, and Mexico.
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Source: Investment Europe
BlackRock aiming to boost European ETF trading
February 11, 2014--BlackRock has launched a new initiative in partnership with Euronext and Euroclear to boost liquidity in Europe's fragmented exchange traded funds market.
ETFs are currently traded across 25 exchanges in Europe but buying a fund in one country and selling that holding in another remains an inefficient and cumbersome process.
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Source: FT.com
DB-Synthetic Equity & Index Strategy-Europe-Europe Monthly ETF Market Review - -of 2.5bn euro in January
February 10, 2014--Data in this report is as of 31 January 2014.
Global Summary
Global equity markets remained bearish in January due to concerns over emerging markets economies. This impacted the Global ETP assets which reduced by $68.6bn (-3% YTD) and closed the month at $2.2 trillion. European ETP assets reached to $409bn (€304bn) at the end of January.
> Overall cash flows for the global ETP industry were negative recording outflows of -$6.9bn in January. US domiciled ETPs experienced the largest outflows (-$15.2bn), while ETPs in Europe and Asia-Pac regions recorded inflows of +$4.9bn (+€3.6bn) and +$3.4bn respectively.
Fixed income ETFs witnessed positive flows across all the regions with total new creations of +$3.2bn.
European cash flow summary
Europe: Equity ETFs collected healthy inflows, fixed income ETFs followed suit
Amid bearish equity markets, Europe domiciled ETPs started the year with strong cash flows recording +€3.6bn of inflows in January. Equity and fixed income ETFs recorded inflows of +€2.6bn and +€1.5bn respectively, while commodity ETPs experienced outflows of -€0.5bn.
Within equity, developed markets ETFs had the lion’s share collecting +€2.5bn in new money. Conversely, emerging markets ETFs continue to lose ground and experienced -€0.4bn of outflows. Among other segments, sector and capitalization based ETFs brought inflows of +€0.2bn each over the last month.
Fixed income ETFs witnessed inflows of +€1.5bn in January. ETFs benchmarked to corporate and sovereign bond indices were the largest cash flows receivers of the month recording +€0.8bn and +€0.7bn of cash inflows respectively.
After losing close to -€10bn in redemptions in 2013, commodity ETPs continue to see outflows this year as well and recorded -€0.5bn of cash flows in January. Despite some recovery in gold prices during January (+3%), gold ETPs lost -€0.4bn in monthly outflows.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe
Nasdaq OMX will offer anonymous trading in Scandinavia
February 10, 2014--Nasdaq OMX Group plans to give market participants the option of trading anonymously on its four exchanges in Scandinavia.
The bourses allow traders to see the identity of potential counterparts. However, starting March 24, traders can choose whether they want to display their identity.
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Source: SmartBrief
EU rules to light up derivatives markets set for shaky start
February 10, 2014--New rules coming into force in Europe this week to shine more light on the $700 trillion derivatives markets will take years to produce a clearer picture of these complex products which were at the heart of the financial crisis.
When Lehman Brothers collapsed in 2008 markets were in the dark over a tangle of derivatives on the U.S. investment bank's books. Financial markets froze because of uncertainty about who was exposed to Lehman's derivatives, such as credit default swaps or interest rate swaps. U.S. insurer AIG also ran up big losses linked to derivatives.
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Source: Reuters
Deutsche Bank cuts Europe ETF prices to win institutional business
February 10, 2014--Deutsche Bank will cut commissions on four of its biggest European exchange-traded funds, or ETFs, in a move to take market share from rivals such as Vanguard and BlackRock and win over big institutional investors.
Deutsche Asset & Wealth Management (DAWM) aims to increase its German ETF market share to 20 percent from 12.5 percent by the end of 2015 and has rebuilt some of its most successful ETFs to hold shares rather than tracking indexes synthetically.
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Source: Reuters
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