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Europe ETP de-listings peak as issuers change strategy
July 9, 2013--European exchange-traded product issuers have signalled a change in strategy for the region, as the number of ETP delistings in the first half of 2013 has reached a record high.
Research by consultancy ETFGI shows that 231 ETPs have been de-listed from European exchanges in the first six months of 2013, more than in any full year, and five times the 42 de-listings seen in the US so far this year.
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Source: Financial News
Consultation on information regarding acquisitions and increases in holdings under MiFID
July 9, 2013--Draft Regulatory Technical Standards on information requirements for assessment of acquisitions and increases in holdings in investment firms (MiFID) Reference 2013/918.
view the Consultation Paper-Draft Regulatory Technical Standards on information requirements for assessment of acquisitions and increases in holdings in investment firms (MiFID)
Source: ESMA
Boost lists five new FTSE ETPs on the London Stock Exchange
July 8, 2013--Boost ETP has listed five new FTSE products in its range of equity short and leveraged ETPs. Two of the new products will track the FTSE250 while the others follow the FTSE100 allowing investors to trade UK large-cap or mid-cap on a short and leveraged basis in one trade.
Hector McNeil, co-chief executive officer of Boost ETP says: “The addition of the unique FTSE 250 ETPs and providing the most comprehensive platform of FTSE 100 S&L ETPs will add significant value to the UK investor community. This is especially the case when we see other European issuers consolidating their offerings.”
Sudir Raju, managing director, ETP Relationships, at FTSE, adds: "The FTSE Short and Leveraged indices are ideal for use in ETPs due to their highly transparent, rules based methodologies. We are delighted to be extending our relationship with Boost through the use of further FTSE indices in their new ETPs."
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Source: FTSE Global Markets
Protocol on the operation of notifications of MiFID Article 41 suspensions and removals of financial instruments from trading
July 8, 2013--ESMA has published the Protocolon the operation of notifications of MiFID Article 41 suspensions and removals of financial instruments from trading.
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Source: ESMA
2013 Article IV Consultation with the Euro Area Concluding Statement of IMF Mission
July 8, 2013--Policy actions over the past year have addressed important tail risks and stabilized financial markets. But growth remains weak and unemployment is at a record high.
Concerted policy actions to restore financial sector health and complete the banking union are essential to reverse financial fragmentation along national borders and support the recovery. While these efforts proceed, continued demand support in the near term and deeper structural reforms throughout the euro area remain instrumental to raise growth and create jobs.
1. Important actions at both the national and euro-wide levels have tackled the immediate threats to the single currency evident at this time last year. The ECB’s Outright Monetary Transactions framework helped address severe market distortions and improve the efficiency of monetary policy. The completion of the ESM firewall, the extension of official loan maturities to program countries, the improvement in the policy coordination framework, and the agreements on Greece and Cyprus have also been instrumental in combating the crisis. And national governments have made progress in restoring the health of public finances and implementing structural reforms. Together, these actions have helped tackle dangerous tail risks for EMU and led to positive spillovers outside the euro area.
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Source: IMF
July 8, 2013--Asset management professionals are split on whether commission payments from product providers to distributors should be banned across Europe.
According to a poll conducted at the FundForum conference in Monaco last month, 49 per cent of 173 respondents believe commissions should not be outlawed. However, 41 per cent agree with banning rebates.
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Source: FT.com
db X-trackers closes record number of ETPs
July 5, 2013--db X-trackers, the exchange-traded product arm of Deutsche Bank, is closing 36 exchange-traded products, citing a lack of demand as gold and commodity funds are hit by outflows.
The ETP issuer said today it is closing and de-listing 18 exchange-traded funds and 18 exchange-traded commodity products across Europe, after they generated “sustainably low levels of interest”, according to Manooj Mistry, Deutsche Asset & Wealth Management head of ETPs for Europe, the Middle East and Africa.
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Source: Financial News
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
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