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Northern Trust Monthly Funds Market Review: Europe-wide fund cost calculator in offing
Global ETP assets soar
Alternative fund managers reporting clarified
October 31, 2013--The latest Monthly Funds Market Review from Northern Trust is now available.
This month's highlights include:
Europe-wide fund cost calculator in the offing
Global ETP assets reach record US$2.22trn in Q3
ESMA clarifies reporting requirements for alternative fund managers
Groundwork laid for EU pension-tracking service
Northern Trust expands depositary services
Alcova Asset Management LLP, the UK-headquartered quantitative hedge fund manager, has selected Northern Trust to provide administrative and middle-office services to its quantitatively driven, equity market-neutral fund. Scrip Issue 22 October
Northern Trust has launched a new iPad application designed to provide executivelevel users with performance, exposure and risk information they need in today's mobile world. The iPad app complements Northern Trust's secure Passport(R) mobile site, which is optimized for the iPhone and BlackBerry and accessible to any smart phone. Business Wire, 24 October
Northern Trust has expanded its depositary services across multiple fund types, asset classes, fund locations and investment strategies. With five new senior positions created across Europe, Northern Trust will be able to offer depositary services in the United Kingdom and The Netherlands, in addition to its existing services in Ireland, Luxembourg and the Channel Islands. John Cargill has been named head of depositary services for Europe, the Middle East and Africa after joining from HSBC. Stefan de Kort has joined from RBC Investor Services to become Northern Trust’s head of depositary services in the Netherlands and will be supported by Margot Six. In addition, Alastair Hay has been named head of depositary services, UK while Stephen Baker, will be responsible for the overall operational management of the depositary services group. Financial News 14 October
Northern Trust has made two appointments in its Dublin-based transfer agency team. Susan Bradley joins as head of TA and David Price as head of client servicing. Bradley was previously at Citi where she was most recently head of transfer agency product for Europe, Middle East and Africa. Price joined from JP Morgan (Ireland) Limited. Scrip Issue 31 October.
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Source: Northern Trust
Boost ETP Issues Italy's First 3X Short and 3X Leverage Exchange Traded Products on Borsa Italiana
October 30, 2013--BOOST to list its first 8 ETPs/ETCs on Borsa Italiana
First ever 3x Short and 3x Leverage Exchange Traded Products on Borsa Italiana
World first for 3x FTSE MIB Short and Leveraged ETPs on ETFplus market
Italy's first 3x Short and 3x Leveraged ETPs tracking DAX, Eurostoxx and Natural Gas
Short and Leverage ETFs and ETCs are the most traded ETFs and ETCs on Borsa in September,with FTSE MIB
BOOST ETP, the award winning and independent Exchange-Traded Product (ETP) provider announced today that it is listing eight ETPs on the Borsa Italiana for the first time. The two ETPs tracking the FTSE MIB (Boost 3x FTSE MIB Leverage Daily ETP "3ITL" and Boost 3x FTSE MIB Short Daily ETP "3ITS") are a world first for 3x leverage ETPs to track the FTSE MIB.
BOOST ETP's UK platform, listed on the London Stock Exchange, totals 44 short and leverage ETPs tracking the world's most liquid equity and commodity indices. BOOST ETPs have listed eight ETPs on Borsa Italiana, bringing the total listings to 52.
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Source: Boost
Group founded to boost London's growing Islamic finance market
Announcement builds on the news that that Britain will become the first non-Muslim country to issue an Islamic bond.
October 30, 2013--The government has announced the latest part of its plan to make Britain one of the world's leading Islamic finance centres.
Building on the Prime Minister's announcement that Britain would become the first non-Muslim country to issue an Islamic bond, the Financial Secretary to the Treasury, Sajid Javid unveiled the Global Islamic Finance and Investment Group at the World Islamic Economic Forum in London.
The Group, chaired by the Rt Hon Baroness Warsi, will include members from key Islamic finance centres, including Chief Executives and Central Bank Governors from Kuwait, Bahrain, Qatar, UAE, the UK and Malaysia. It will meet regularly to identify and address the critical factors that will drive the global Islamic finance market over the next 5 years.
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Source: HM Treasury
DB-Synthetic Equity & Index Strategy-ETF Research - European Weekly ETF Market Review
October 30, 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
Deutsche Borse AG publishes results for the third quarter of 2013
Net revenue of €458 million/ Operating costs of €236 million excluding exceptional items/ Option to settle with OFAC results in a provision/ Adjusted EPS of €0.83/ Interest burden significantly reduced due to refinancing
October 29, 2013--Deutsche Börse AG published its figures for the third quarter of 2013 on Tuesday. The Group generated net revenue of €457.9 million (Q3/2012: €471.0 million), a slight decrease year-on-year.
The Group's operating costs amounted to €359.1 million (Q3/2012: €227.4 million) and included exceptional items totalling €123.0 million. Of this amount €8.2 million were mainly attributable to efficiency programmes and €114.8 million are related to the investigation of the US Treasury Department's Office of Foreign Asset Control (OFAC) regarding suspected violations of US law by Clearstream. Resulting from higher investments in growth initiatives and infrastructure adjusted operating costs increased as planned and amounted to €236.1 million (Q3/2012: €225.6 million). In the third quarter of 2013, earnings before interest and taxes (EBIT) amounted to €101.0 million (Q3/2012: €245.4 million). EBIT, excluding the above-mentioned exceptional items was €224.0 million (Q3/2012: €247.2 million). Basic earnings per share amounted to €0.33 (Q3/2012: €€0.86). Adjusted for special factors, this figure was €0.83 (Q3/2012: €0.86).
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Source: Deutsche Börse
Infographic-The World Bank in Turkey: Some Basic Data
October 29, 2013--The World Bank Turkey: Facts and Figures (infographic) is now available.
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Source: World Bank
Boost-Trade Idea-Eurozone equities: "It's the carry trade, stupid!" (3EUL)
October 29, 2013--Summary--The credit markets, more than equity fundamentals, drive the DJ EURO STOXX 50. Until the bulk of banks in Eurozone's weakest economies report Q3 earnings in mid-November, falling bond yields and narrowing spreads may set a precedent for momentum in Eurozone equities.
Eurozone banks remain over reliant on the profitable, virtually risk-free carry trade as a stagnant economy fails to reverse mounting bad debts and shrinking loan books.
ECB's bank test next year and Basel III are likely to compel many banks to bolster the trading book by buying government debt and hold on to the carry trade for as long as possible.
Given the financial sector's disproportionate share in Spain's and Italy's total equity capitalization, these stock markets stand to benefit from the healing of credit markets at home more than other European markets.
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Source: Boost
Troubled loans at Europe's banks double in value
October 29, 2013--European banks' non-performing loans have doubled in just four years to reach close to €1.2tn and are expected to keep rising, according to analysis that provides a disquieting backdrop to the region's forthcoming assessment of lenders' balance sheets.
A report by PwC found that non-performing loans (NPLs) rose from €514bn in 2008 to €1.187tn in 2012, with rises in the most recent year driven by deteriorating conditions in Spain, Ireland, Italy and Greece. It predicted further rises in the years ahead because of the "uncertain economic climate".
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Source: FT.com
Eurex and Vienna Stock Exchange conclude index licensing agreement
Listing of new futures and options planed on leading indices of the Vienna Stock Exchange
October 25, 2013--The international derivatives market Eurex Exchange has concluded an index licensing agreement with the Vienna Stock Exchange (Wiener Börse AG).
The agreement will allow Eurex Exchange to list futures and options on well-known indices of the Vienna Stock Exchange. This means that Eurex Exchange will be able to complement its successful Austrian equity futures and equity options segment with the corresponding equity index derivatives based on the ATX and ATX five.
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Source: Eurex
BNP Paribas launches 39 EasyTRACKERS on NYSE Euronext Paris ETN segment
October 28, 2013--BNP Paribas and NYSE Euronext Paris have teamed up to facilitate access to Exchange Traded Notes (ETNs) for professional investors by launching 39 EasyTRACKERS.
Offering its product line on NYSE Euronex's ETN segment represents a major new stage in BNP Paribas' expansion on the French market, and gives fresh momentum to NYSE Euronext’s European ETN offer for qualified investors.
Since its launch in November 2011, the EasyTRACKERS range has successfully identified opportunities outside traditional asset classes while benefiting from BNP Paribas expertise in systematic investment strategies. It rounds out the range of listed products already offered by the bank, completing the EasyETF* range.
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Source: NYSE Euronext
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