Modification on 2 Amundi ETFs-Borsa Italiana
February 13, 2014--Starting from February 17th 2014, the name, the trading code and the benchmark index of 2 Amundi ETFs will change.
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Source: Borsa Italiana
ESMA consults on Guidelines for issuers performance measures
February 13, 2014--The European Securities and Markets Authority (ESMA) has launched a consultation on Guidelines on Alternative Performance Measures (APMs).
The aim of the guidelines is to encourage European issuers to publish transparent, unbiased and comparable information on their financial performance in order to provide users with a better understanding of their performance. Some examples of APMs include EBIT (Earnings Before Interest & Tax), EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation), free cash flow, underlying profit or net-debt.
The Consultation Paper follows on from ESMA's decision to review and replace the 2005 CESR Recommendation on APMs with Guidelines under Article 16 of the ESMA Regulation to tackle concerns about APMs used by issuers. Those relate mainly to APMs being used in such a manner as to present a confusing or optimistic picture of their performance by removing certain negative aspects, or even where this is not the case, APMs can be misleading if they are inconsistently calculated or presented.
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Source: ESMA
Russian Financial Markets Regulator Registers New Listing Rules
February 13, 2014--On 7 February 2014 the Bank of Russia's Financial Markets Service registered an amended version of Listing Rules for Moscow Exchange[1].
As part of Russia's listing reform programme, the rules have been brought in line with the Rules for Admission of Securities to Organised Trading previously approved by the regulator[2].
The new rules will reduce the number of securities lists on Moscow Exchange from six to three.
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Source: Moscow Exchange
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
February 12, 2014--The most recent issue of the European Weekly ETF Market Review is now available.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe
Deutsche Borse buys minority stake in Bondcube-The new cutting edge bond
February 12, 2014-Deutsche Bõrse AG today announces the purchase of a stake in Bondcube Ltd, the
innovative new fixed income trading system for a low sum in the single
digit millions (GBP).
ondcube is a London and Boston based electronic bond platform which links
dealers and customers in a single marketplace in order to boost the
liquidity of the global bond markets.
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Source: Deutsche Bõrse
Fidelity unveils new tracker funds
February 12, 2014--Fidelity Worldwide Investments is filling out its range of passive equity funds to offer lower cost portfolio building blocks for IFAs.
In March Fidelity will add European ex-UK, Japan, emerging market and Pacific ex-Japan tracker funds following MSCI indices to the UK, global and US passive funds it already runs.
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Source: Fund web
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
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