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Llinas charts path for Lyxor ETFs
July 5, 2013--Lyxor's new global head of exchange-traded funds and indexing says the second half of the year will bring new products and more London listings.
In his first six months as global chief, Arnaud Llinas told Financial News he has worked to analyse the structure and efficiency of the firm’s products, improve their liquidity and expand the business’s penetration in the UK and Nordics. Now, he is turning his attention to new products.
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Source: Financial News
First active ETF from Commerz Funds Solutions launched on Xetra
ETF tracks FERI RS Europa Strategie
July 5, 2013--The first active ETF issued by Commerz Funds Solutions S.A., a Commerzbank Group asset management company, has been tradable in Deutsche Börse's XTF segment since Friday.
Name: Europe SectorTrend UCITS ETF
Asset class: Equities
ISIN: LU0861095221
Total expense ratio: 0.90 percent
Distribution policy: non-distributing
Benchmark: FERI RS Europa Strategie
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Source: Deutsche Börse
Deutsche Asset & Wealth Management reviews ETP product line-up to meet investor demand in 2013 and beyond
July 5, 2013--Deutsche Asset & Wealth Management has undertaken a review of its exchange-traded fund (ETF) and exchange-traded commodity (ETC) product line-up with a view to bringing it in line with current and future investor demand.
This will involve the de-listing
and closure of certain ETFs and ETCs that have demonstrated sustained small levels of demand, while focusing on key areas of growth.
"The exchange-traded products market in Europe has reached a point of development where it makes sense for us to review our overall product line-up to bring it in line with current and expected future demand, placing us in a strong position to optimally serve users of our ETFs and ETCs," said Manooj Mistry, head of exchange-traded products, EMEA, at Deutsche Asset & Wealth Management. “We have therefore undertaken a process of review to identify which areas we should focus on developing and which products are generating sustainably low levels of interest."
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Source: Deutsche Asset & Wealth Management
Rabobank ties up with BlackRock for passive funds launch
The Dutch bank is shifting assets formerly actively managed by its Robeco team into passive strategies designed by BlackRock.
July 4, 2013--Rabobank has joined up with BlackRock to launch its first passive funds in a move that will see €1.5 billion of its previously actively managed assets become index-tracking funds.
The five new funds, designed by BlackRock, will be come under the product label of BlackRock Mix Fondsen and will take the €1.5 billion of funds that previously were allocated in active strategies through its former subsidiary Robeco.
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Source: CityWire
Eurex Launches New Derivatives Based on MSCI Emerging Markets Indices
July 4, 2013--MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, has announced that Eurex Exchange, one of the world's largest derivatives exchanges, has licensed a range of MSCI Emerging Markets regional and country indices as the basis for a number of derivative products which were launched 1 July.
These latest Eurex futures and options are based on the MSCI Emerging Markets Index and the regional sub-indices, the MSCI EM Latin America Index, the MSCI EM EMEA Index and the MSCI EM Asia Index. Futures contracts have also been launched based on 16 MSCI Emerging Markets country indices, bringing the number of MSCI index-linked derivatives from Eurex to around 30 globally.
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Source: MSCI
ESMA publishes research on the sale of complex products to retail financial consumers
July 3, 2013--The European Securities and Markets Authority (ESMA) has published a research report on Retailisation in the EU, which examines the growth in the sale of complex financial products to retail financial consumers in the European Union (EU).
view the ESMA Economic Report-Retailisation in the EU
Source: ESMA
Financial Transaction Tax: wide scope and attention to pension funds and SMEs
July 3, 2013-- Parliament kept up the pressure on Wednesday for a comprehensive financial transaction tax in 11 EU countries with a wide scope and rates of 0.1% for trades in stocks and bonds and 0.01% for those in derivatives.
Lower rates should apply until 1 January 2017 for trades in sovereign bonds and pension fund industry trades. Finally, a new legal ownership principle was inserted to make tax avoidance more costly.
Anni Podimata (S&D, EL), Parliament's lead MEP on the matter welcomed Parliament' s tenacity. "Parliament has stayed true. We have taken a consistent line. We strongly believe that such a tax is the way the sector can contribute to emerging from the crisis and returns to its proper job of serving the real economy", she said. The resolution was passed by 522 votes to 141, with 42 abstentions.
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Source: European Parliament
BATS Chi-X Europe Continues Growth In Spain With Monthly Market Share Record; Also Sets New Record In Finland
July 3, 2013--BATS Global Markets (BATS) today reported that BATS Chi-X Europe set another new monthly market share record of 14.4% and also a new one- day record of 19.5% for Spain's IBEX 35, and a new monthly record of 28. 6% in Helsinki's OMXH25 Index.
BATS Chi-X Europe reported 26.7% market share across the Nordics, its second-best month on record in this
region. In Copenhagen’s OMXC20 and Stockholm’s OMXS30, BATS Chi-X Europe reported market share of
25.4% and 30.1%, respectively, the second-best month on record in both of these key markets.
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Source: BATS Global Markets, Inc
Tension rises on growing shift of power to Esma
July 3, 2013--A tug of war over the scope of powers given to European watchdogs formed after the crisis is emerging, with the UK doing its best to resist a growing desire from the European Commission to give the new watchdogs more teeth.
The UK has tried to curtail the influence of the European Securities and Markets Authority under recently implemented short-selling legislation and key trading rules that are still under negotiation by European policymakers.
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Source: Financial News
Nasdaq OMX and Borsa Istanbul Sign Strategic Partnership
NASDAQ OMX to provide a suite of comprehensive market-leading exchange technologies to Borsa İstanbul
Partnership will strengthen İstanbul's position as an international financial center, and will expand both companies' global footprint
Juy 3, 2013--The NASDAQ OMX Group (Nasdaq: NDAQ) and Borsa İstanbul have signed a partnership agreement today, which aims to expand Borsa İstanbul's global presence, while substantially strengthening İstanbul's position as a regional hub for capital markets.
Borsa İstanbul will integrate and operate NASDAQ OMX’s suite of world-class market technologies for trading, clearing, market surveillance and risk management, covering all asset classes including energy contracts. Further, the two companies will actively collaborate in the region. This strategic partnership points to a long-term commitment which would benefit member firms and customers of both exchanges.
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Source: Borsa İstanbul
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