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EU agrees preliminary deal to rein in speed traders
EU ditches minimum order time in tentative deal
Progress on allowing sponsored market access
Key negotiations on MiFID set for November
HFT sector says much detail to be worked out
October 22, 2013--The European Union has reached a tentative deal to rein in the type of ultra-fast trading that accelerated a plunge in Wall Street stocks in 2010 and set regulatory alarm bells ringing across the world.
In the Wall Street "flash crash" three years ago, the Dow Jones Industrial Average dropped about 700 points in minutes, partly due to the high-frequency traders unloading their securities as the market tumbled.
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Source: Reuters
UK's Swiss gold exports surge on ETF selling
UK gold exports to Switzerland, jumped to 1,016.3 tonnes in the first eight months of this year, according to data from Eurostat
October 21, 2013--A surge in gold exports from the United Kingdom to Switzerland this year may largely be the result of metal sold out of exchange-traded funds being shipped for re-refining before making its way to Asia, according to Australian bank Macquarie.
UK gold exports to Switzerland, Europe's major bullion refining hub, jumped to 1,016.3 tonnes in the first eight months of this year, data from European Union statistics agency Eurostat shows, from 85.1 tonnes in the same period of 2012.
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Source: MineWeb
PIMCO and Source launch EUR-hedged class for short-term high-yield ETF
October 21, 2013--PIMCO and Source are pleased to announce that their flagship PIMCO Short-Term High Yield Corporate Bond Index Source ETF, managed by PIMCO, is now available in a
EUR-hedged version.
The existing USD share class has already grown to US$ 550 million1 since its launch in March 2012, driven by the product's high yield per unit of duration and appealing current
yield2.
The PIMCO Short-Term High Yield Corporate Bond Index Source ETF aims to provide the performance of the BofA Merrill Lynch 0-5 Year US High Yield Constrained Index, a broad benchmark of over 800 USD,denominated corporate bonds. The ETF is physically invested in bonds and is managed by PIMCO, benefiting from PIMCO's extensive expertise in smart passive index replication and credit filtering.
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Source: Source
Four new UBS ETFs launched on Xetra
October 22, 2013--Four new exchange-traded equity index funds issued by UBS ETF SICAV have been tradable in Deutsche Börse's XTF segment since Monday.
ETF name: UBS ETF-MSCI United Kingdom 100% hedged to EUR UCITS ETF (EUR) A-acc
Asset class: equity index ETF
ISIN: LU0950671239
Total expense ratio: 0.40 percent
Distribution policy: non-distributing
Benchmark: MSCI United Kingdom 100% hedged to EUR
ETF name: UBS ETF-MSCI Canada 100% hedged to EUR UCITS ETF (EUR) A-acc
Asset class: equity index ETF
ISIN: LU0950673284
Total expense ratio: 0.55 percent
Distribution policy: non-distributing
Benchmark: MSCI Canada 100% hedged to EUR
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Source: Deutsche Börse
New energy sector ETC from ETF Securities launched on Xetra
October 21, 2013-- A new ETC (exchange traded commodity) issued by ETFS Hedged Commodity Securities Limited has been tradable on Xetra since Monday.
ETC name: ETFS EUR Daily Hedged Energy DJ-UBS EDSM
Asset class: Commodities
ISIN: DE000A1Y7Y36
Total expense ratio: 1.21 percent
Benchmark: Dow-Jones UBS Energy Sub-Index EUR Hedged Daily
The new Daily Hedged Energy ETC from ETF Securities enables investors to participate in the performance of futures contracts on individual commodities in the energy sector.
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Source: Xetra
IMF Country paper-Russian Federation: Selected Issues
October 21, 2013--A. Introduction
1. Theory does not suggest a definite prediction about the relationship between exchange rate and interest rate volatility. There is widely believed to be a trade-off, with higher
interest rate volatility resulting from a monetary policy geared towards stabilizing the exchange rate,in particular if there is a high pass-through from exchange rates to prices.
Indeed, Mohanti and Klau (2004) find support for the "fear of floating" hypothesis in emerging economies, in as much as the exchange rate features prominently in monetary policy makers' reaction function, with interest rates
responding strongly to exchange rate changes. Another source of interest rate volatility, however,
would be unanchored inflation and exchange rate expectations, reflecting a low degree of monetary
policy credibility. Thus, the degree of interest rate volatility depends on both the policymakers'
reaction function and their degree of credibility (Calvo and Rheinhard 2002).
view the IMF Country paper-Russian Federation: Selected Issues
Source: IMF
NYSE Euronext announces new ETF on European markets
October 21, 2013--NYSE Euronext is pleased to announce that Lyxor AM has listed one new ETF on NYSE Euronext Paris on 21 October, 2013:
ETF Symbol: LTMP
Listing date: 21/10/2013
ETF Trading name: LYXOR ETF LTM PEA
Underlying index: MSCI EMERGING MARKETS Latin Am
TER: 0.65%
NYSE Euronext now has 656 listings of 566 ETFs listed on its European markets.
Source: NYSE Euronext
UK pension funds 'turn gold into lead'
October 20, 2013--UK pension funds are "wasting" more than £6bn a year by investing in actively managed equity, bond and property funds rather than cheap and better performing passive funds, according to new research.
Analysis by Evercore Pan-Asset, an investment manager, of the 14 asset classes and sectors most favoured by UK pension funds, found the median passive fund outperformed the median actively managed fund in 13 of them over the past five years. Only managers of commodity funds earned their corn.
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Source: FT.com
BlackRock teams up with custodians for ETF push
October 18, 2013--Four major custodians have signed up to an initiative set up by BlackRock's exchange-traded funds business iShares to make it easier for UK pension schemes to buy ETFs, Financial News has learnt.
The move could increase the use of ETFs by institutional investors in the UK market. Institutional investors have not traditionally used the products as widely as their US and continental European peers, which use brokerage accounts to buy them.
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Source: Financial News
NYSE Euronext announces new ETF on European markets-EasyETFs
October 18, 2013--NYSE Euronext is pleased to announce that EasyETF has listed one new ETF on NYSE Euronext Paris on 18 October, 2013:
ETF Symbol: EVAUS
Listing date: 18/10/2013
ETF Trading name: VOLATILITY ARB US
Underlying index: BNP Volatility Arbitrage US ER
TER: 0.70%
NYSE Euronext now has 655 listings of 565 ETFs listed on its European markets.
Source: NYSE Euronext
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