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DeAWM's db X-trackers ETFs introduces range of interest rate hedged fixed income ETF share classes
February 26, 2014--Deutsche Asset & Wealth Management (DeAWM) has launched a range of interest rate hedged fixed income ETF share classes. The range includes a rates hedged version of its highly successful ETF providing exposure to higher yielding Eurozone sovereign debt, which generated significant inflows in 2013.
The new share classes, which have been listed on the Deutsche Börse, are designed for investors who wish to maintain full credit exposure to underlying bond markets while hedging the interest rate risk.
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Source: Deutsche Asset & Wealth Management
European Commission Winter 2014 forecast: Recovery gaining ground
February 25, 2014--The European Commission's winter forecast foresees a continuation of the economic recovery in most Member States and in the EU as a whole. After exiting recession in spring 2013 and three consecutive quarters of subdued recovery, the outlook is for a moderate step-up in economic growth. Following real GDP growth of 1.5% in the EU and 1.2% in the euro area in 2014, activity is seen accelerating in 2015 to 2.0% in the EU and 1.8% in the euro area.
These figures each represent an upward revision of 0.1 percentage points compared with the autumn 2013 forecast. The forecast remains based on the assumption that the implementation of agreed policy measures at EU and Member State level sustains improvements in confidence as well as financial conditions and advances the necessary economic adjustment in Member States, by increasing their growth potential.
view the European Commission Winter 2014 forecast: Recovery gaining ground Winter 2014
Source: European Commission
Demand for Short and Leverage ETPs rise as Boost's AUM reaches $209m, up 200% in 4 months
Demand for Short and Leverage ETPs rise as Boost's AUM reaches $209m, up 200% in 4 months
February 25, 2014--AUM and trading volumes of BOOST ETPs continue to reach new records
AUM rose by 200% in 4 months and trading volumes rose 2,000% in seven months
The most popular BOOST ETP is Boost Natural Gas 3x Short Daily ETP (3NGS) and with $43m AUM, it is Europe's largest short Natural Gas ETP
Boost's 3x leverage FTSE MIB and 3x short FTSE MIB ETPs are Boost's two most popular equity ETPs, with $44m AUM combined
Global AUM of short & leveraged ETPs reached a record of $56 billion at the end of January , with net inflows of $2.2bn YTD versus $10.6bn outflows from unleveraged ETPs due to increased market volatility
BOOST ETP, Europe's award winning, specialist Short and Leverage (S&L) Exchange-Traded Product (ETP) provider continues to break new trading records. Since mid-October, assets under management (AUM) in BOOST's ETP platform has tripled to a high of $75 million, which is equivalent to AUM of $209m, taking leverage into account.
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Source: Boost
STOXX Changes Composition of Benchmark Indices
Results of the first regular quarterly review to be effective on March 24, 2014
February 25, 2014--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the new composition of the STOXX Benchmark and their sub- and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index and STOXX Asia/Pacific 600 Index.
Effective as of the open of European markets on March 24, 2014, the following stocks will be added to and deleted from the STOXX Europe 600 Index and its respective size and sector indices:
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Source: STOXX
ESMA launches one-stop shop for EU regulated investment information
February 25, 2014--The European Securities and Markets Authority (ESMA) has put in place new consolidated registers (Consolidated Registers) on its website in accordance with Directive 2010/78/EU of 24 November 2010 (Omnibus Directive).
The Consolidated Registers are easy-to-use tools listing the information currently published on the websites of the national competent authorities for the securities regulation (NCAs) of 31 European Economic Area (EEA) Member States.
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Source: ESMA
Clearstream launches market approach for supporting the internationalisation of the Renminbi currency
Renminbi currency has potential to become next major international currency/Clearstream launches Renminbi approach as part of its Asia strategy/Clearstream's Philip Brown: "Our market approach is to bring together partners from across the market to collectively contribute to building a truly international offshore Renminbi market"
February 24, 2014--Clearstream, the financial market infrastructure already active in Asia since 1990, this week sets out its market approach to developing and delivering solutions to help support the internationalisation of the Renminbi (RMB).
The market approach involves bringing together market providers and participants from across the finance community to collectively enable foreign investors to further invest in the Chinese currency, help develop solutions to increase offshore RMB liquidity, enhance the depth and breadth of RMB products and services and facilitate both growth and maturity in the offshore RMB bond markets.
To deliver this market approach, Clearstream is actively seeking partners to join in building and implementing the components that will help establish and facilitate an international offshore RMB market. As part of its market approach, Clearstream also itself intends to leverage its international infrastructure to act as a reciprocal gateway between Chinese and non-Chinese investors and issuers and other market participants.
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Source: Clearstream
Amundi on smart beta push
February 24, 2014--Amundi plans to roll out a new range of smart beta passive investment solutions after agreeing a strategic partnership with index provider ERI Scientific Beta.
The deal will see Amundi granted access to ERI Scientific Beta's range of smart beta indices in order to develop a suite of smart beta index and exchange traded funds.
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Source: FT.com
Political infighting delays benchmark regulation
February 23, 2014--Investor groups have raised concerns that regulations aimed at setting tougher standards for benchmarks such as Euribor and improving investor protection have been delayed by political infighting in Brussels.
Europe's economic and monetary affairs committee was last week expected to vote on benchmark proposals pulled together ...
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Source: FT.com
ESMA sets out CRA supervision focus for 2014
January 20, 2014--The European Securities and Markets Authority (ESMA) has published its Annual Report 2013 (Report) on credit rating agencies (CRAs) in the European Union (EU). The Report also outlines ESMA's supervisory work plan for this year
ESMA has found that CRAs continue to progress in how they comply with the CRA Regulation, including improved internal transparency and disclosure to the market on credit rating activities as well as empowerment of the compliance function. However, ESMA considers that improvements are still necessary, notably in the following areas:
validation of rating methodologies, to ensure that a credit rating assessment is a comprehensive risk assessment leading to high quality ratings;
internal governance, ensuring the full independence of the internal review function and thereby reducing the risk of potential conflict of interest; and
robust IT systems to support the rating process, including information security controls and protection of confidential rating information.
view the Credit Rating Agencies-Annual Report 2013
Source: ESMA
ESMA-EBA: Euribor makes significant progress with reforms
January 20, 2014--The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have today published the results of their joint review of the Euribor-EBF.
The review found that Euribor-EBF has made significant progress in implementing the ESMA-EBA Recommendations addressing weaknesses and shortcomings in its governance and technical framework. This progress provides the basis for improved transparency of the benchmark-setting process, enhanced governance of the benchmark, and improved quality of the resulting index.
Benchmark reforms must continue
The Authorities reviewed the progress made by Euribor-EBF in implementing the ESMA-EBA Recommendations of 11 January 2013 in the context of the on-going Euribor reform. The review found that Euribor-EBF has undertaken reform measures across all affected areas, with four Recommendations fully implemented and a further six Recommendations partially implemented.
view the Review of the Implementation of EBA-ESMA Recommendations to Euribor-EBF report
Source: ESMA
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