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NASDAQ OMX Successfully Delivers SMARTS To Financial Conduct Authority (FCA) To Enhance Market Surveillance Capabilities
May 14, 2013--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the Financial Conduct Authority (FCA), an independent body that regulates the financial services industry in the United Kingdom, today announced that the FCA has officially gone live with NASDAQ OMX's SMARTS Integrity market surveillance platform to enhance its monitoring of transaction reports across the UK's financial markets.
SMARTS Integrity provides the FCA with a surveillance platform for the detection of market abuse across financial instruments admitted to trading on regulated or prescribed markets including any underlying derivatives. The FCA is leveraging the scalable and extensible NASDAQ OMX platform to enhance its coverage of current and future European legislation such as the Markets in Financial Instruments Regulation (MiFIR) and Market Abuse Regulation (MAR). (NASDAQ OMX was originally selected in September 2012.)
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Source: NASDAQ OMX
Markets Insight: Cultures clash in Istanbul
Western regulatory medicine does not suit all
May 14, 2013--The cliches are apposite: Istanbul is where cultures collide. Europe meets Asia; Christian history meets Islam. It is also where financial market cultures clash.
Encouraging local capital and currency markets in emerging economies is a top priority for the European Bank for Reconstruction and Development, which has just held its annual meeting among the minarets in the sprawling Turkish city on the Bosporus.
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Source: FT.com
Council adopts new rules on credit rating agencies
May 13, 2013--The Council today1 adopted a directive and a regulation amending the EU's rules on credit rating agencies (CRAs) (
69/12 and 70/12).
Adoption of the legislation follows agreement reached with the European Parliament at first reading on 27 November 2012, and subsequent approval by the Permanent Representatives Committee on 5 December 2012.
The directive and regulation amend existing legislation on CRAs in order to reduce investors' over-reliance on external credit ratings, mitigate the ri sk of conflicts of interest in credit rating activities and increase transparency and competition in the sector.
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Source: The Council of the European Union
Moscow Exchange Indices Monthly Review: April 2013
May 13, 2013--The Moscow Exchange Indices Monthly Review: April 2013 is available.
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Source: Moscow Exchange
BOOST Research -Despite "sell in May", outlook positive for equities, negative for commodities?
May 13, 2013--Summary
The "May-effect": resilient US labor market conditions not expected to derail investor's risk-appetite in the short term
The rally in equities: has not undermined valuations and against improving US fundamentals, dollar sensitive commodities have less appeal
Tactical asset allocation: investors may consider Boost ETPs for a leveraged long position in US equities such as Russell 1000 (3USL) and NASDAQ 100 (QQQ3)
The rally across stock markets has legs
Performance from pre-'08 credit crisis peak and current valuations
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Source: BOOST ETP
NYSE Euronext announces new ETF on European markets
May 13, 2013--NYSE Euronext is pleased to announce that ThinkCapital has listed one new ETF on NYSE Euronext Amsterdam on 13 May, 2013:
ETF Symbol: TSWE
Listing date: 13/05/2013
ETF Trading name: Think Sustainable
Underlying index: Think Sustainable World Index
TER: 0.30%
NYSE Euronext now has 670 listings of 581 ETFs listed on its European markets.
Source: NYSE Euronext
Lyxor doubles physical ETFs after synthetic U-turn
May 13, 2013--Lyxor has doubled its number of physical exchange-traded funds with four recent new listings on NYSE Euronext Paris as the ETF provider pushes ahead with its move away from a synthetic-only product.
The new listings see Lyxor, which is owned by French bank Societe Generale, now offering eight physical direct replication ETFs, after it scrapped its synthetic-only strategy last autumn.
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Source: Financial News
Funds rush to dodge new European rules
May 12, 2013--A controversial hedge fund-lite structure looks likely to survive, despite a regulatory clampdown that has claimed its first victim.
Cantab Capital Partners, a $5.5bn systematic global macro manager, last week announced the imminent closure of its only onshore Ucits fund as a result of pressure from European regulators. However, fund promoters are restructuring a swath of similar funds, advised by groups such as Winton Capital, Man Group and Aspect Capital, to get around
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Source: FT.com
BlackRock ETF deal gets Irish approval
May 12, 2013--The Irish Competition Authority has cleared BlackRock's acquisition of Credit Suisse's exchange traded fund arm following a two-month initial investigation.
The watchdog has decided the deal does not need to be further investigated and can go ahead as it does not restrict competition.
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Source: FT.com
Physical ETFs outpace synthetic funds
May 10, 2013--European physical exchange-traded funds have grown at twice the rate of synthetic ETFs since 2011, as scrutiny over the risks associated with synthetic products weighed upon the market.
Physical ETFs have grown by 35% in assets under management to €171.3bn since the start of 2011, according to a report from Deutsche Bank published yesterday.
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Source: Financial News
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