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SIX Swiss Exchange-ETF Quarterly Statistics-2nd quarter 2013
July 16, 2013--Development of the ETF segment of SIX Swiss Exchange in the 2nd quarter of 2013
In the second quarter of 2013, SIX Swiss Exchange posted an ETF trading turnover of CHF 27.2 billion. With
CHF 11.5 billion, ETFs based on equities from developed regions made up approx. 43% of total turnover.
Commodities and precious metals contributed almost 30% of the total turnover for the ETF segment with
CHF 8.1 billion.
In the second quarter of 2013, the selection increased by another 23 ETFs. As at the end of Q2, the ETF segment of SIX Swiss Exchange contained 919 products which represents a new peak. At the end of June, ETFs from 19 providers were being traded, with 22 official market makers providing liquidity.
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Source: SIX Swiss Exchange
Lyxor introduces ETF efficiency index
Ranks many of its own products at top of market
July 16, 2013--Lyxor Research has developed an ETF Efficiency Indicator to compare and evaluate ETF construction and performance, with several of Lyxor's own products being ranked highly as a result.
The framework shows that investors can experience a range of outcomes for similar ETFs tracking the same index. The Lyxor ETF Efficiency Indicator takes into account performance relative to the benchmark, tracking error volatility and liquidity spread, to produce a "probability-based, easy-to-understand assessment of the likelihood of future performance against the benchmark index".
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Source: Global Investor Magazine
Boost launches inaugural short and leveraged Japanese ETFs
July 16, 2013--Specialist exchange-traded product (ETP) provider Boost has unveiled short and leveraged Japanese ETPs on the London Stock Exchange.
The Boost Topix 1x Short Daily and Boost Topix 2x Leveraged Daily ETPs allow investors to benefit from any drop in Japanese shares, or gain two times the return of the market if it rises.
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Source: CityWire
IMF-Ireland: Fiscal Transparency Assessment
July 16, 2013--EXECUTIVE SUMMARY
For decades Ireland maintained the traditional system of government budgeting and accounting it inherited from the UK at independence in 1922.
Until the 1990s, fiscal reports confined themselves to budgetary central government (the Exchequer), covered only cash transactions and debt, and did not follow an internationally recognized classification system. Ireland’s budget documentation focused exclusively on the year ahead, excluded
own-source revenues of departments, and provided little information about the outputs or outcomes to be delivered with public resources. Fiscal forecasts provided point estimates with little discussion of alternative scenarios or fiscal risks.
Following a series of substantial, if somewhat piecemeal, improvements, Ireland is now approaching best practice in fiscal reporting and forecasting and meets the basic requirements for fiscal risk disclosure under the IMF’s Fiscal Transparency Code (Table 0.2). Since the early 1990s, European integration and the recent financial crisis have been catalysts for significant improvements in fiscal transparency in Ireland. The Maastricht Treaty reporting requirements obliged the government to begin producing fiscal statistics that cover the general government, capture some accrual flows, and are classified according to the European System of Accounts 1995 (ESA95).
view the IMF report-Ireland: Fiscal Transparency Assessment
Source: IMF
IMF-Spain: Financial Sector Reform-Third Progress Report
July 15, 2013--Spain is undertaking a major program of financial sector reform with support
from the European Stability Mechanism (ESM). On June 25, 2012, Spain requested financial assistance from the European Financial Stability Facility (EFSF) to support the ongoing
restructuring and recapitalization of its financial sector.
The reform program aims to better capitalize Spain’s banking system and reduce uncertainty regarding the strength of its balance sheets, with a view toward improving its access to funding markets; this in
turn should help ease domestic credit conditions and thereby support economic
recovery; the capitalization drive also aims to protect taxpayers by requiring weak banks to undertake private capital-raising efforts now before undercapitalization problems
expand; and
reform the frameworks for financial sector regulation, supervision, and resolution to enhance the sector's resilience and avoid a re-accumulation of risks in the future.
view the Spain: Financial Sector Reform—Third Progress Report
Source: IMF
NYSE Euronext announces new open-end Investment Funds on European markets
July 15, 2013--NYSE Euronext is pleased to announce that Hof Hoorneman has listed a total of three new open-end Investment
Funds on NYSE Euronext's NAV trading facility on 15 July 2013.
Trading Name: HH EM Fund
ISIN: NL0010514196
Symbol:HHEMF
Trading Name:HH Obligatie Fund
ISIN: NL0010514204
Symbol:HHOF
visit etpeurope@nyx.com for more info
Source: NYSE Euronext
Settlement houses team up to streamline Europe's funding market
June 15, 2013--Two long-standing rivals Euroclear and Deutsche Boerse are to work together to help improve the supply of short-term funding for banks, an important step towards a Europe-wide capital market and to boost lending.
Brussels-based Euroclear and Deutsche Boerse's Clearstream and Eurex Clearing agreed on Monday to pool their highly-rated government bonds and similar assets to create an easily accessible supply of collateral that banks use to get short-term funding in the financial markets.
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Source: Reuters
FESE European Equity Market Report-June 2013 Figures Results of the June 2013 ECB survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets ESMA begins detailing central clearing of OTC derivatives
EMIR introduced provisions to improve transparency, establish common rules for central counterparties (CCPs) and for trade repositories (TRs) and to reduce the risks associated with the OTC derivatives market. It provides for the obligation to centrally clear OTC derivative contracts or to apply risk mitigation techniques such as the exchange of collateral. Steven Maijoor, ESMA Chair, said:
“Our consultation is a first important step in shaping the details of how central clearing of OTC derivatives will work in the European Union. Having these trades centrally cleared and ultimately making post-trade data available to investors will increase the robustness, transparency and stability of the financial system.”
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July 12, 2013--The FESE European Equity Market Report June 2013 is now available.
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Source: FESE
July 12, 2013--The European Central Bank (ECB) is today publishing a report on the results of the June 2013 qualitative survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets (SESFOD).
The survey is conducted four times a year, covering changes in credit terms and conditions over the three-month reference periods ending in February, May, August and November.
July 12, 2013--The European Securities and Markets Authority (ESMA) has launched a Discussion Paper to prepare the regulatory technical standards (RTS) which will implement provisions of the European Markets Infrastructure Regulation (EMIR) regarding the obligation to centrally clear OTC derivatives.
The consultation is aimed at assisting ESMA in developing its approach to determining which classes of OTC derivatives need to be centrally cleared and the phase-in periods for the counterparties concerned.
Source: ESMA
