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Northern Trust Names Moore in ETF Admin Post
June 5, 2013--Northern Trust has appointed Fiona Moore as head of fund administration for its exchange-traded funds (ETF) business across Europe, the Middle East and Africa.
Based in Dublin, Moore will be responsible for managing ETF administration activities for Northern Trust's clients in the three regions. She replaces Liam Butler, who was appointed head of Northern Trust's hedge fund servicing group in March.
Moore joined Northern Trust as part of its acquisition of Bank of Ireland Securities Services in June 2011, where she was senior relationship manager in its global fund services group.
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Source: Global Custody.net
ETFs escape unregulated funds crackdown
The sale of risky unregulated investment products to most private investors will be banned next year.
June 4, 2013--The sale of risky unregulated investment products to most private investors will be banned next year after the City regulator found pensioners and debt-ridden customers had been mis-sold the funds.
These unregulated collective investment schemes (Ucis), which have been involved in a number of high profile scandals, will still be available to sophisticated investors who meet certain criteria.
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Source: CityWire
Turkish markets, lira up after conciliatory messages
June 4, 2013--Turkish assets clawed back some of the previous day's heavy losses on Tuesday as investor concern about anti-government protests across the country appeared to ease.
Attention was focused on a morning meeting between President Abdullah Gül and Deputy Prime Minister Bülent Arınç who has apologized for the excessive force used by police against an initially peaceful group of protesters in Taksim's Gezi Park in recent days. Shares traded on main Turkish benchmark..
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Source: Todays Zaman
BlackRock launches cross--border ETF to grow European market
Cross-border ETF to be settled in international security depository
Designed to cut transaction costs, boost liquidity
June 4, 2013--BlackRock, the world's largest fund manager, plans to issue Europe's first cross-border exchange-traded fund (ETF) in a move it expects will reduce trading costs and attract more investors to the product.
ETFs track baskets of shares, bonds or commodities and are traded like stocks. They offer access to indices without having to buy the underlying securities.
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Source: Reuters
NYSE Euronext welcomes Vanguard as new ETF issuer on European markets
June 4, 2013--NYSE Euronext is pleased to welcome Vanguard as a new ETF Issuer on our European markets. Vanguard has listed seven new ETFs on NYSE Euronext Amsterdam, all of which are multi-listed in Paris, on 4 June, 2013:
ETF Symbol: VUSA
Listing date: 04/06/2013
ETF Trading name: Vanguard S&P500
Underlying index: S&P 500 Index
TER: 0.09%
ETF Symbol: VFEM
Listing date:04/06/2013
ETF Trading name: Vanguard FTSE EM
Underlying index: FTSE Emerging Markets Index
TER: 0.45%
ETF Symbol:VWRL
Listing date:04/06/2013
ETF Trading name: Vanguard FTSE AW
Underlying index: FTSE All-World Index
TER: 0.25%
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Source: NYSE Euronext
BlackRock and Euroclear Bank announce ground-breaking plans to grow the European ETF market
June 4, 2013--BlackRock and Euroclear Bank today announce plans to reform Exchange Traded Fund (ETF) trade processing and settlement across Europe by issuing the first iShares ETF with an international security structure.
Unlike other cross-exchange listed ETFs in Europe, which currently settle in national central securities depositories (CSDs), the new iShares ETF will be issued and settle for the first time in an International CSD (ICSDs)-Euroclear Bank.
At present, all cross-exchange listed ETFs in Europe including iShares ETFs, are issued and traded on one or more national stock exchanges and settle in the national central securities depository (CSD) of the exchange where the trade is executed. This often causes inefficiencies when ETFs are traded across borders. By using a single European settlement location, it is expected the new international ETF structure will improve trading liquidity, ease cross-border ETF processing and significantly lower transaction costs for investors.
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Source: Euroclear
May turnover at Boerse Stuttgart climbs above EUR 7.8 billion mark
Surge in equities trading accompanied by rise in turnover from securitised derivatives
June 4, 2014--According to the order book statistics, the volume of securities traded at Boerse Stuttgart in May 2013 was in excess of EUR 7.8 billion, around 6 percent up on the figure for April.
Trading in securitised derivatives accounted for the lion’s share of turnover. Compared to the previous month, the total trading volume in this asset class was 3.6 percent higher at EUR 3.6 billion. At nearly EUR 2.1 billion, turnover for investment products was up 4.7 percent, while trading in leverage products increased to more than EUR 1.5 billion.
In May, trading in debt instruments came to roughly EUR 1.9 billion, around 5 percent down on the figure for April. At around EUR 974 million, the biggest share of total turnover in this category was attributable to corporate bonds, which put on nearly 9 percent compared to the previous month.
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Source: Boerse Stuttgart
ING appoints Stan Beckers CEO of ING Investment Management International
June 4, 2013--ING announced today the appointment of Stan Beckers as CEO of ING Investment Management International, succeeding Gilbert Van Hassel who has decided to leave ING.
The appointment of Beckers has been approved by the Dutch Central Bank and will become effective 1 July 2013.
Van Hassel joined ING in 2007 as CEO of ING Investment Management Europe. He assumed the position as CEO of ING’s global Investment Management businesses November 2009 and is a member of the Management Board Insurance EurAsia. Consistent with the governance for Insurance/Investment Management Europe as announced on 13 March 2013, Beckers will report to Lard Friese, member of the Management Board Insurance EurAsia (MBE) who will also assume the responsibility for Investment Management within the MBE.
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Source: ING
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
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