DB-Synthetic Equity & Index Strategy-ETF Research - European Weekly ETF Market Review
December 12, 2013--The most recent issue of the European Weekly ETF Market Review is now available. The report includes key statistics on the European ETF market as well as global ETF market highlights.
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Deutsche Bank-Synthetic Equity & Index Strategy- Europe
Euronext seeks ETF trading boost
December 12, 2013--Euronext, owner of the Amsterdam, Brussels, Lisbon and Paris stock exchanges, has launched a new incentive scheme to increase activity levels for exchange traded funds.
Under Euronext's new liquidity programme (LP) scheme, which went live at the start of December, market makers will be able to trade ETFs and ETF-like products for free if trading volumes for those passive products account for a quarter or more of their total trading volumes averaged over a month.
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Source: FT.com
UPDATE 1-Eleven EU states to consider narrower transaction tax
December 11, 2013--The 11 European Union countries that have pledged to tax financial transactions will consider narrowing the levy's scope to shield pensions, government debt and markets that help to grease the economy, an EU document shows.
The aim of the tax is to make banks pay for some of the taxpayer money they received during the 2007/09 financial crisis, but worries over unintended consequences have mounted among some of the countries taking part.
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Source: Reuters
Two companies to join FTSE 100 Index
December 11, 2013--FTSE Group ("FTSE") confirms today that Royal Mail and Ashtead Group will be joining the FTSE 100 Index. In the rebalance, Croda International and Vedanta Resources will leave the UK's leading index and enter the FTSE 250 Index.
The changes announced today are part of the impartial quarterly reviews approved by the independent FTSE Europe, Middle East and Africa Regional (EMEA) Committee. The rules-driven reviews ensure the indices continue to portray an accurate reflection of the market they represent, and form an essential component to the management of the indices.
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Source: FTSE
November 2013: turnover remains stable-SIX Swiss Exchange and Scoach Switzerland Ltd
December 10, 2013--The statistical monthly report contains the latest trade and turnover figures for SIX Swiss Exchange and Scoach Switzerland Ltd.
SIX Swiss Exchange and Scoach Switzerland Ltd recorded a minimal decrease in turnover of -0.8% (to CHF 79'181 million) compared to the previous month-which was two trading days longer. This decline only took place in the segment Equities including Funds and ETPs; all other segments recorded higher turnover of up to 32.7% (Structured Products and Warrants) in October 2013. During the 231 trading days since the beginning of the year, overall turnover amounts to CHF 925'845 million-11.3% more than in the same period in the previous year.
More transactions than in 2012
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Source: SIX Swiss Exchange and Scoach Switzerland Ltd
Boost Trade Idea of the Week-US strength bolsters energy, kills precious metals
December 10, 2013--Summary
The strengthening US economy boosts sentiment in energy commodities as the outlook for oil and gas demand in the US improves. Amidst a winter season and subdued supply conditions, the rally in WTI Oil and Henry Hub natural gas should have legs in December.
Underpinning the downbeat sentiment in precious metals is the resilient equity market increasingly unshaken by looming taper fears. US's fundamental strength and ability to absorb rising interest rates is a prelude to gold and silver coming under further pressure.
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Source: Boost
DB-Synthetic Equity & Index Strategy-Europe Monthly ETF Market Review-Developed Markets Continue to Attract New Money
December 9, 2013--Data in this report is as of 29 November 2013
Global Summary
Global ETP assets rose by $36.4bn last month (+21.1% YTD) and closed the month at an all time high $2.2 trillion. ETP assets across all the regions are at their highest level with 23.5%,11.7% and 23.5% YTD growth for US,Europe and Asia respectively.
Global ETP industry continues to attract positive monthly flows recording +$16.4bn of inflows in November. US domiciled ETPs remain major contributor receiving +$12.9bn of positive flows,followed by Europe with +$3.6bn flows. Fund flows were flat in Asia region with -$64mn of outflows. Globally,equities saw inflows of +$17.6bn,followed by fixed income (+$0.4bn) while commodities witnessed outflows of -$1.8bn.
European cash flow summary
Europe: Equity ETFs continue to collect healthy inflows,fixed income ETFs also had some inflows
European domiciled ETPs received healthy cash flows in November recording +€.2.6bn of inflows,keeping broadly the same trend as was in October (+€.2.8bn). Equity ETFs had the lion’s share in total flows registering +€.2.4bn of inflows followed by fixed income ETFs (+€.0.6bn),while commodity ETPs experienced outflows of -€.0.2bn.
Similar to previous month,all the segments within equity recorded positive flows for the last month. Developed markets (DM) ETFs recorded +€.1bn of inflows in November (+€.1bn in Oct’13). Among other segments,sector,strategy and style brought +€.0.3bn,+€.0.3bn and +€.0.2bn of monthly inflows respectively.
Fixed income ETFs observed inflows of +€.0.6bn in November,lower than the previous month (+€.1bn in Oct’13),taking YTD total to +€.7.5bn. ETFs benchmarked to sovereign and corporate bond indices were the largest cash flows receivers of the month recording +€.0.7bn and +€.0.2bn of cash inflows. Money market ETFs saw outflows of -€.0.3bn over the same period.
Commodity ETPs have been experiencing outflows since January this year and last month again recorded outflows of -€.0.2bn (-€.8.5bn YTD). Commodity ETPs outflows were largely driven by gold products in the region with -€.0.2bn of withdrawals (-€.8bn YTD). Gold ETPs saw monthly outflows for the entire year so far.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe Monthly ETF Market Review
New fees of the Moscow Exchange's equity market to come into effect
December 9, 2013--Moscow Exchange is introducing new fees for its equity market from 16 December.
In the new fees ETFs are considered a specific category of securities. Fees for trades in ETFs are similar to those charged for trades in mutual funds.
A unified total fee of 0.01% of a trade size will be applied to all dark pool trades regardless of the fee schedule selected by a trading member. A cap of RUB1,500 for the total fee charged for dark pool trades will be abolished due to the end of the grace period.
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Source: Moscow Exchange
Grace period for trades in foreign securities
December 9, 2013--Moscow Exchange announces an introduction of a grace period for trades in shares of foreign issuers and depositary receipts representing them beginning 16 December. The grace period will be in effect through 30 June 2014.
Within the grace period transactions in foreign securities and DRs representing them will cost only 50% of prices prescribed in fee schedules selected by trading members (0.00325%-0.005%).
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Source: Moscow Exchange
South East Europe on Slow Road to Recovery, according to World Bank
December 9, 2013--The countries of the South East Europe (SEE6)[1] region exited from recession in the first half of 2013, led by improved export performance, according to the latest World Bank South East Europe Regular Economic Report (SEE RER). The report was launched from Tirana across the region in a series of events chaired by World Bank Country Director for South East Europe Ellen Goldstein.
Average growth of real income of the six countries rebounded from negative 0.7 percent in 2012 to 1.8 percent (year-on-year) in the first half of 2013, supported by nascent recovery in the Eurozone. In addition, favorable weather conditions supported a strong contribution of agricultural output to economic growth and helped weaken inflationary pressures.
view the South East Europe Regular Economic Report-Slow Road to Recovery
Source: World Bank
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