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Two new Lyxor-ETFs launched in the XTF segment on Xetra
ETFs track VIX based volatility indices
March 4, 2013--Two new exchange-listed equity index funds from the issuer Lyxor Asset Management have been tradable in Deutsche Borse's XTF segment since Monday.
ETF name: Lyxor ETF Dynamic Long VIX Futures Index -EUR
Asset class: volatility
ISIN: LU0871960976
Total expense ratio: 0.75 percent
Distribution policy: non-distributing
Benchmark: Dynamic Long VIX Futures Index
ETF name: Lyxor ETF Dynamic Short VIX Futures Index- EUR
Asset class: volatility
ISIN: LU0871961511
Total expense ratio: 0.40 percent
Distribution policy: non-distributing
Benchmark: Dynamic Short VIX Futures Index
The two new Lyxor ETFs offer investors access to the performance of two VIX based volatility indices.
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Source: Xetra/FWB
FSA publishes discussion paper on transparency
March 4, 2013--The Financial Services Authority (FSA) has published a discussion paper looking at how transparency and more effective disclosure could improve the accountability of the regulator and the financial services industry, and help consumers make more informed decisions.
The incoming Financial Conduct Authority (FCA) is committed to being a transparent regulator and to being open to scrutiny from consumers, firms and Parliament. As part of this, it is keen to gather views and ideas from interested parties about information which, if disclosed, would be helpful for firms and consumers.
view the Consultation paper-Transparency DP13/1
Source: FSA
Tradition appoints Jason Griffin head of sales for Navesis-ETF
March 4, 2013--Navesis-ETF, the fully electronic trading platform designed to enhance the way exchange traded funds (ETFs) are traded, today announced the appointment of Jason Griffin as Head of Sales, Navesis-ETF, as the platform continues its ambitious expansion plans.
Navesis-ETF has also released new matching functionality which will enable clients to run multiple matches, at potentially flat spreads, throughout the trading day and with no minimum size constraint.
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Source: Finextra
Boerse Stuttgart reports monthly turnover of around EUR 7.7 billion
Leverage products up //Surge in demand for index and participation certificates
March 4, 2013--According to its order book statistics, Boerse Stuttgart generated turnover of around EUR 7.7 billion in February 2013, slightly down on the figure for January.
Securitised derivatives accounted for the largest share of turnover. In this asset class, the volume of trading in February was almost unchanged on the figure for January at around EUR 3.6 billion.
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Soure: Boerse Stuttgart
Oxfam takes food fight to Belgium
March 3, 2013--Oxfam's fight to stamp out trading in food commodities is heading for Belgium, following its success with similar campaigns in France and Germany.
Oxfam is investigating KBC and Dexia as well as French banks and insurers with a Belgian presence such as BNP Paribas, ING Bank and Axa to examine the degree to which these institutions speculate in food commodities. Oxfam’s plan is to discourage them from doing so, on the view that market trading in food commodities ratchets up food prices around the world.
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Source: FT.com
Council proposes dark MTF threshold, targets bond transparency
March 1, 2013--The Council of the European Union will consider a US-style volume threshold for dark pools that use the reference price waiver at a meeting to discuss MiFID II on Monday.
Discussions on MiFID II were expected to take a backseat due to the desire of regulators to press ahead on other regulatory initiatives like the European banking union. However, an agreement on the Capital Requirements Directive IV reached on 27 February among European policymakers has freed up time for MiFID II to be put back on the agenda.
The 4 March meeting will cover market structure and the organised trading facility regime, transparency for bond markets and dark pool trades and portfolio compression.
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Source: The Trade
Component Changes Made to STOXX Blue-chip Indices
March 1, 2013--STOXX Limited, the market-moving provider of innovative, substantial and global index concepts, today announced the results of the first of the two regular semi-annual reviews of the STOXX Eastern Europe 50 Index.
Furthermore, component changes in the EURO STOXX 50 and STOXX Europe 50 indices due to the fast entry rule are also being announced. All changes become effective with the open of markets on March 18, 2013.
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Source: STOXX
Van Eck and BofA Merrill Lynch launch Commodities Long-Short Equity Ucits Fund
March 1, 2013--Van Eck Absolute Return Advisers and Bank of America Merrill Lynch have launched the Van Eck Commodities Long-Short Equity Ucits Fund.
The fund offers access to Van Eck’s investment expertise as part of Bank of America Merrill Lynch’s Ucits compliant funds platform, Merrill Lynch Investment Solutions (MLIS).
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Source: Institutional Asset Magazine
European Commission extends deadline for ESMA advice on equivalence of non-EU rules with EMIR
March 1, 2013--On February 27, the European Commission extended for four months the deadline for ESMA advise on the equivalence between non-EU legal and supervisory frameworks and EMIR, the European Markets Infrastructure Regulation.
According to the letter from the Commission, ESMA shall now deliver its advice on Japan and the USA by 15 June 2013 and, for the remaining countries specified in the request by 15 July 2013.
The original deadline was 15 March 2013.
Source: ESMA
Revised lists of the Moscow Exchange Indices announced
March 1, 2013--Moscow Exchange has revised lists for the MICEX Index, RTS Index, RTS Standard Index, RTS-2 Index, RTS Siberia Index,, Index, sector indices and pension indices effective for the period from March 18 through June 17, 2013.
Moscow Exchange ordinary shares floated in February 2013 will be added to both the MICEX Index and RTS Index. They will replace ordinary shares of Vozrozhdenie Bank.
Ordinary shares of IDGC of Northern Caucasus and Vozrozhdenie Bank will be included into the RTS-2 Index while ordinary shares of Yakutskenergo and preferred shares of Lenzoloto will be removed from the Index.
The constituent list of the blue chips RTS Standard Index will remain unchanged. Ordinary shares of Sofrinsky Experimental Mechanical Plant will be added to the MICEX Innovation Index.
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Source: Moscow Stock Exchange
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