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FCA to ban the promotion of UCIS and certain close substitutes to ordinary retail investors
June 4, 2013--The Financial Conduct Authority (FCA) has published final rules to ban the promotion of Unregulated Collective Investment Schemes (UCIS) and certain close substitutes (together to be known as Non-Mainstream Pooled Investments (NMPIs)) to the vast majority of retail investors in the UK.
The rules mean that, in the retail market, promotions of these riskier and often very complex fund structures will generally be restricted to sophisticated investors and high net worth individuals for whom these products are more likely to be suitable.
The ban follows on from extensive work undertaken by the Financial Services Authority (FSA), which found that only one in every four advised sales of UCIS to retail customers was suitable and that many promotions breached the existing UCIS marketing restrictions.
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Source: FCA.org
Turnover at Deutsche Borse's cash markets at 109 billion euros in May
May 3, 2013--Order book turnover on Xetra, the Frankfurt Stock Exchange and Tradegate stood at €109.2 billion in May (May 2012: €101.3 billion). Of the €109.2 billion, €99.5 billion were attributable to Xetra (May 2012: €94.1 billion).
€5.4 billion were attributable to the Frankfurt Stock Exchange (May 2012: €4.8 billion). Order book turnover on Tradegate Exchange* totalled approximately €4.3 billion in May (May 2012: €2.3 billion).
In equities, turnover reached €93.9 billion on Deutsche Börse’s cash markets (Xetra: €87.5 billion, Frankfurt Stock Exchange: €2.5 billion, Tradegate Exchange: €3.9 billion). Turnover in bonds was €1.5 billion, and in structured products on Scoach €1.5 billion. Order book turnover in ETFs/ETCs/ETNs amounted to €11.5 billion.
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Source: Deutsche Börse
Component Changes Made to STOXX Blue-chip Indices
June 3, 2013--Changes are due to fast entry rule
June 3, 2013--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced component changes in the STOXX Europe 50, STOXX Asia/Pacific 50 and STOXX North America 50 indices due to the fast entry rule.
These changes become effective with the open of markets on June 24, 2013.
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Source: STOXX
May Statistics Report From The NASDAQ OMX Nordic Exchanges
June 3, 2013--The value of average daily share trading amounted to EUR 2.2 billion, compared to EUR 2.0 billion during the past 12-month period.
The average number of trades per trading day was 311,352, compared to 302,829 during the past 12-month period. The total market cap of listed companies at NASDAQ OMX Nordic Exchange amounted to EUR 841 billion, compared to EUR 659 billion in May 2012.
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Source: Mondovisione
The Spanish stock exchange traded EURO 267.93 billion to May
June 3, 2013--Equity trading volume in May reached €48.12 billion
ETF trading to the end of May was up 50% year on year
In May trading on BME's Derivatives market came in at 3.4 million contracts
The number of trades on BME's Corporate Debt market was the highest so far this year and more than nine times as high as in the same period in 2012
Equities
The equity trading volume on the Spanish Stock Exchange to the end of May was €267.93 billion, down 14.4% from the same period last year. The trading volume in May was €48.12 billion, down 16.5% from April.
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Source: BME
ESMA publishes review on impact of short selling regulation
June 3, 2013--The European Securities and Markets Authority has published its Technical Advice 2013/evaluating the impact of the Regulation on short selling and certain aspects of credit default swaps (Regulation) on European financial markets.
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Evercore Pan Asset unveils tracker fund portfolios
June 3, 2013--Evercore Pan Asset has launched a new range of risk-rated low-cost model portfolios using tracker funds.
The six-strong Pan Asset fund range will follow the same strategy as its Pan Dynamic fund of exchange traded funds (ETFs) range, but at a lower cost due to its use of tracker funds. The annual management charge (AMC) for the funds has been set at 0.25%, with the additional cost of the underlying funds between 0.18% and 0.23%. The Pan Dynamic funds feature the same 0.25% AMC, but the underlying funds cost between 0.26% and 0.46%
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Source: CityWire
Boost-Sustainable dividends should lure investors into UK stocks
June 3, 2013--The restructured UK corporate sector is helping the FTSE 100 regain appeal from investors seeking income yield.
Balance sheet deleveraging and cost reductions have put dividend growth on a sustainable longer term footing and should help preserve UK equity market’s competitive edge
Investors seeking a leveraged exposure in high income yielding stocks may consider the Boost FTSE 100 3x Leverage Daily ETP (3UKL)
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Source: Boost ETPs
Luxembourg regulator acts to salvage reputation
June 2, 2013--The good name of Luxembourg's financial regulator took a hit last week.
The European Securities and Markets Authority, the financial supervisory authority that monitors regulatory standards across Europe, revealed at the end of last month
that it is investigating allegations against Luxembourg's Commission de Surveillance du Secteur Financier. The charges are that the CSSF failed to appropriately deal with a bond fund that violated its investment rules.
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Source: FT.com
New ETF reporting regime to allay transparency fears and boost demand
May 31, 2013--Stock exchanges across Europe are set to implement a new trade reporting regime for exchange traded funds (ETFs) ahead of forthcoming regulation, in a move that will improve the transparency and significantly boost market growth.
Major European stock exchanges, including Germany’s Deutsche Börse, are planning to offer reporting of ETFs that are traded over-the-counter (OTC) for the first time, to show a more accurate picture of the volumes traded in any one ETF.
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Source: CityWire
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