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BATS Global Markets In November: European Trade Reporting Service Becomes Market Leader
1Q14 Close Projected For Direct Edge Merger
U.S. Equities Market Share Totals 10%, BATS Chi-X Europe Posts Another New Record in Spain
December 4, 2013--BATS Global Markets (BATS) today reports that its pan-European trade reporting service, BXTR, became the industry leader in its first month of operation while BATS Chi-X Europe remained Europe's largest stock market in November.
BATS also continues progress towards approval and closing of the merger with Direct Edge Holdings, with completion of the transaction now expected in the first quarter of 2014. The company received clearance from the U.S. Department of Justice in late October and its primary focus now is on receiving approval from the Securities and Exchange Commission.
"November marked another month of tremendous growth for Europe as the team continues to build upon the Recognised Investment Exchange status earned in May, with the launch of BXTR and our European listings business," said BATS Global Markets CEO Joe Ratterman. "In the U.S., as we move towards closing the Direct Edge transaction, we continue to focus on delivering quality markets to our customers."
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Source: BATS
SHW AG to be included in SDAX
Deutsche Börse reviews index composition/ Changes to be effective on 23 December 2013
December 4, 2013--Deutsche Börse today decided on changes in its selection indices that will become effective on 23 December 2013.
The following changes will be made to SDAX: The shares of SHW AG will be included in the index. The shares of MVV Energie AG will be deleted from the index.
The compositions of DAX, MDAX and TecDAX remain unchanged.
Source: Deutsche Börse
Council Of The European Union: Permanent Representatives Committee Agrees On Directive Improving Rules For Collective Investment Funds
December 4, 2013--EU Permanent Representative Committee (COREPER II) on December 4 in Brussels has confirmed the Member States agreement on the Directive amending the current legislation on the harmonised functioning of collective investment funds and aiming at strengthening investors confidence.
The agreement on the Directive to undertakings for collective investment in transferable securities as regards depositary functions, remuneration policies and sanctions (UCITS V) enables the Council to start negotiations with European Parliament, with a view to have a final agreement on this directive by the end of current legislative cycle.
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Source: Ministry of Foreign Affairs of the Republic of Lithuania.
Second estimate for the third quarter of 2013-Euro area GDP up by 0.1% and EU28 up by 0.2%
-0.4% and +0.1% respectively compared with the third quarter of 2012
December 4, 2013--GDP rose by 0.1% in the euro area1 (EA17) and by 0.2% in the EU281 during the third quarter of 2013, compared
with the previous quarter, according to second estimates2 published by Eurostat, the statistical office of the
European Union.
In the second quarter of 2013, growth rates were +0.3% and +0.4% respectively.
Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.4% in the euro area and rose by 0.1% in the EU28 in the third quarter of 2013, after -0.6% and -0.1% respectively in the previous quarter.
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Source: Eurostat
Boost Trade Idea of the Week-Sterling strength is bearish for FTSE 100, bullish for FTSE 250
December 3, 2013--Summary
The profit outlook is weakening for UK large-cap equities. Accordingly, consensus is downgrading the outlook for FTSE 100, while keeping it robust for the FTSE 250.
Overhanging the gloomy sentiment in UK's large-cap equity market is the appreciating sterling and the threat of higher interest rates as the BoE prepares to tighten monetary policy. As large-cap earnings come under pressure, the outlook is bearish for the FTSE 100.
In preserving the Funding for Lending Scheme for SME (while ending it for households), the BoE’s careful rebalancing act is a signal of calibrating monetary policy toward supporting UK’s domestic focused businesses. The outlook is bullish for domestic secular growth stories captured in the FTSE 250.
Investors who share this sentiment may consider, amongst the Boost equity ETPs product platform (www.boostetp.com/products), the following positions in UK equities:
Long positioning UK mid-cap equities:
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Source: Boost
ESG STRATEGIES OF EUROPEAN ASSET OWNERS-From theory to practice 2013 Survey
December 3, 2013--Novethic has questioned more than one hundred European asset owners, each
year since 2008, on the integration of Environmental, Social and Governance (ESG) criteria into their asset management.
his survey, the only one of its kind, allows us to follow the evolution over time of their perception of responsible investment. How do they define it? What motivates them to put the corresponding policies in place? Are they primarily hoping to use their assets to fuel the shift to a more sustainable economy? Or are they mainly protecting their reputation? As long-term investors, do they necessarily take account of these ESG issues, especially those with an already patent impact on their portfolios?
These questions, asked routinely every year, make it possible to observe that although answers may differ from one country to the next, real trends are apparent that clearly demonstrate the emerging role of ESG analysis in risk management.
view the ESG STRATEGIES OF EUROPEAN ASSET OWNERS-From theory to practice 2013 Survey
Source: Novethic
UK platform price war looming
December 3, 2013--Midsize asset managers that lack stellar funds are likely to be "profoundly" affected by next year's platform rebate ban in the UK, according to experts.
Jeremy Oakley, director at KPMG, says only the best-performing asset managers will be able to charge high fees for their funds when platform retrocessions are scrapped under the Retail Distribution Review in April 2014.
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Source: FT.com
MTS launches RFQ trading for ETFs
December 3, 2013--MTS, Europe's premier fixed income trading venue, is to launch Request-for-Quote (RFQ) trading for ETFs via its multi-dealer-to-client MTS BondVision platform. The new service will offer liquidity providers access to a diverse community of global institutional investors.
The platform will support ETF products listed on Borsa Italiana and London Stock Exchange. By offering RFQ as a new execution method in addition to the order book trading functionality currently offered by the two exchanges, MTS is seeking to improve the efficiency of executing these products and increase trading opportunities for all market participants.
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Source: MTS
Turnover at Deutsche Boerse's cash markets at 92.9 billion euros in November
December 2, 2013--Order book turnover on Xetra, the Frankfurt Stock Exchange and Tradegate stood at €92.9 billion in November (November 2012: €87.9 billion). Of the €92.9 billion, €83.4 billion were attributable to Xetra (November 2012: €80.8 billion). €4.8 billion were attributable to the Frankfurt Stock Exchange (November 2012: €4.4 billion).
Order book turnover on Tradegate Exchange* totalled approximately €4.7 billion in November (November 2012: €2.8 billion).
In equities, turnover reached €82.2 billion on Deutsche Börse's cash markets (Xetra: €75.5 billion, Frankfurt Stock Exchange: €2.4 billion, Tradegate Exchange: €4.3 billion). Turnover in bonds was €1.4 billion, and in structured products €1.4 billion. Order book turnover in ETFs/ETCs/ETNs amounted to €8.0 billion.
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Source: Deutsche Börse
BlackRock tests appetite for liquid ETF structure
December 2, 2013--BlackRock is poised to launch on December 16 its first European-listed exchange-traded product under a new structure that will potentially improve liquidity and slash costs across its $193 billion European ETF empire.
It could also pressure smaller rivals.
BlackRock's plan, dubbed Project Fusion, could see a chunk of its 263 exchange-traded products move to the new structure by 2016.
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Source: Financial Times
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