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Russians see no cause for alarm in crackdown on shadowy banking
November 24, 2013--The problems exposed in Russia's banking system by last week's collapse of mid-sized lender Master Bank are deep-rooted, but in contrast with banking failures of the past there was no evidence this time of other banks' customers taking fright.Which might seem surprising, as the collapse has highlighted the difficulty of enforcing regulations against banks with strong political connections, and the widespread use of illegal payments to service Russia's large black economy, analysts said.
"Other banks are in the same situation as Master Bank, that's for sure," said Alexander Lebedev, the media tycoon and banker. "Whether the central bank will have enough guts (to act) -- let's wait and see."The central bank withdrew the license of Master Bank on Wednesday, citing "large-scale dubious operations" and causing payment difficulties for clients and some other banks that used it to process card transactions. "We don't see any rise in the rates on the interbank market or on the government bond market, so it's a very local event', said Maxim Osadchy, head analyst at BKF bank in Moscow.
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Source: Todays Zaman
Unscheduled component changes in MDAX and SDAX
November 22, 2013--Deutsche Börse has announced that GSW Immobilien AG will be replaced by SGL Carbon SE in MDAX. Due to the takeover by Deutsche Wohnen AG, the free float of GSW Immobilien AG has dropped below 10 percent, making it ineligible for inclusion in the index.
In SDAX SGL Carbon SE will be replaced by Villeroy & Boch AG.
All changes being announced today will be effective on Wednesday, 27 November 2013.
The next regular review of the Deutsche Börse blue-chip indices will be on 4 December 2013.
Please visit www.dax-indices.com for more information.
Source: Deutsche Börse
European Equity Markets Continued Positive Trend, Awaiting More Perspective From Draghi & ECB; Market Data and Insight From Russell Indexes and Russell Investments
November 22, 2013--As European Central Bank (ECB) President Mario Draghi prepares to deliver the keynote address at the European Banking Congress in Frankfurt on Friday, the European equity markets continued to exhibit strong performance.
European stocks have enjoyed strong performance in 2013. The Russell Developed Europe Index has returned 19.8% year-to-date and is up 4.3% in the fourth quarter (returns as of November 19).
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Source: Russell Investments
S&P says Turkish economy stable but risks remain
November 22, 2013--Ratings agency Standard & Poor's said on Friday it maintains its earlier stable outlook on the Turkish economy but added that certain risks expose Turkish markets to global shocks.The agency affirmed Turkey's sovereign credit rating of BB+, citing strong growth prospects.
S&P said a lingering current account deficit (CAD) problem along with fast-growing consumer loans could pose risks to the Turkish economy. Noting that Turkey's need for external financing continues, S&P said it will get even more expensive to receive foreign loans, thus hurting economic balances. However, the agency highlighted positive developments in fiscal balance and growth.It also estimated that Turkey's inflation will reach 8 percent by the end of this year. Turkey's monthly inflation rate saw a 12-month high in October when it rose 1.8 percent, but annualized consumer prices fell to 7.71 percent according to the Turkish Statistics Institute (TurkStat).
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Source: Today's Zaman
BOOST 3x ETPs top trading records in Italy last week
November 22, 2013--BOOST ETPs were the most traded ETPs in Italy (on a % per product basis)
BOOST ETPs traded EUR 4.8m last week with Boost Natural Gas 3x Leverage
Daily ETP trading (3NGL) EUR 3.3m, ranking in the top 10 ETPs in only the 2nd week of trading
BOOST grabbed approximately 6.1% market share in Italy last week by value
Short and Leverage ETFs and ETCs are some the most traded ETFs and ETPs on Borsa Italiana last week, with FTSE MIB and Natural Gas being the most popular
BOOST ETP, the award winning and independent Exchange-Traded Product (ETP) listed eight new 3x Short and 3x Leveraged ETPs on the Borsa Italiana for the first time on 31 October 2013.
Boost ETPs grabbed 6.1% market share in the ETP segment of Borsa Italiana’s ETFPlus platform. With only 8 ETPs available initially, Boost's 0.77% market share per ETP puts its products as the most traded ETPs in Italy last week, after only two full weeks of trading. The most traded products were Boost Natural Gas trading (3NGL) and Boost FTSE MIB 3x Short Daily ETP (3ITS).
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Source: Boost
Distribution Technology launches risk index benchmarks
Risk-profiling provider creates indices based on "most popular" profiles in deal with Indexx and Goldman Sachs
November 21, 2013--Distribution Technology (DT) has launched six indices based on its risk profiles, in partnership with index provider Indexx Markets.
The six benchmarks are based on the group's "most popular risk profiles", which are applied to more than 600 funds and model portfolios offered by UK firms and accessible to advisers through Distribution Technology's Dynamic Planner tool.
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Source: FTAdviser.com
EU reaches outline deal to cap "dark pool" share trading
EU lawmaker Ferber expects final MiFID deal by Xmas
November 21, 2013--The European Union reached an outline deal on Thursday to try to shine a light on shadowy areas of the financial markets by capping off-exchange share trading, known as "dark pools", a senior EU lawmaker said on Thursday.
The outline agreement is likely to hit the City of London financial centre, which is home to several "dark pools" or anonymous trading platforms. But stock exchanges and big banks will likely benefit.
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Source: Reuters
Credit Suisse ETF expert joins Deutsche
November 20, 2013--Credit Suisse's Keshava Shastry joins Deutsche Bank Asset and Wealth Management in ETP role. Paulina Pielichata reports
Keshava Shastry has joined Deutsche Bank Asset and Wealth Management from Credit Suisse's exchange traded fund (ETF) business, where he was head of capital markets for almost two years, Global Investor/ISF has learned.
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Source: Global Investor Magazine
DB-Synthetic Equity & Index Strategy-ETF Research - European Weekly ETF Market Review
November 20, 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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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe
Gold Benchmarks Said to Be Reviewed in U.K. Rates Probe
November 20, 2013--The U.K. Financial Conduct Authority is reviewing gold benchmarks as part of its wider probe of how global rates are set, a person with knowledge of the matter said.
The FCA review is preliminary and hasn’t risen to the level of a formal investigation, said the person, who asked not to be identified because the matter isn't public. The person declined to say which gold benchmarks were under scrutiny.
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Source: Bloomberg
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