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Derivative-linked Ucits to stay 'non-complex'
January 19, 2014--Retail investors will not be required to seek financial advice before buying funds that make use of derivatives, such as absolute return funds, following an agreement in the European Parliament last week.
Some parliamentarians had been pressing for derivative-linked Ucits funds to be classified as "complex" as part of the second Markets in Financial Instruments Directive (Mifid II), the wide-ranging reforms of European securities markets that were finalised on Wednesday.
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Source: FT.com
EU Weighs Ban on Proprietary Trading at Some Banks From 2018
January 17, 2014--The largest banks in the European Union would face a "narrowly" defined ban on proprietary trading from 2018 under draft plans by Michel Barnier, the EU's financial services chief.
Regulators would also have until then to gauge whether some banks should split off their trading activities into separately capitalized units, according to the European Commission document obtained by Bloomberg News.
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Source: Bloomberg Businessweek
Deutsche Bank Withdraws From Gold Fixing in Commodities Cuts (1)
January 17, 2014--Deutsche Bank AG (DBK) will withdraw from participating in setting gold and silver benchmarks in London after Europe's top investment bank joined JPMorgan Chase & Co. and Morgan Stanley in cutting back on commodities.
The German bank will sell its gold and silver fixing membership and stop submitting gold forward offered rates, according to a person familiar with the decision, who asked not to be identified because the information isn’t public. The move comes a month after the Frankfurt-based lender said it will cut about 200 jobs in raw materials.
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Source: Bloomberg Businessweek
Hargreaves Lansdown: the new charges
The broker's sweeping changes to the way it charges investors will leave some worse off
January 16, 2014--Hargreaves Lansdown, Britain's biggest investment shop, ushered in a number of new fees when it unveiled its new charging structure this morning.
The scale and detail of the changes-which are communicated in a 47-page booklet and include alterations to account holders' terms and conditions- will make it difficult for savers to quickly appreciate how their individual holdings will be affected
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Source: The Telegraph
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
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Source: Deutsche Börse
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
Source: ESMA
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.
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Source: Risk.net
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.
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Source: Deutsche Börse
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 view more If you are looking for a particuliar article and can not find it, please feel free to contact us
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
Source: Boost
