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European banks optimistic on outlook, study shows
January 21, 2013--European banks are optimistic about their business outlook for the next six months, even though the economy is set to deteriorate further in a number of countries, a study found on Monday.
Consultants Ernst & Young found in a survey that 37 percent of European banks are expecting an improvement in their operational activities in the period, while 24 percent were forecasting a deterioration.
About 39 percent expected stagnation, the study found.
Optimism varied from country to country, with up to 59 percent of British banks counting on an improvement, 51 percent of Italian banks, 45 percent of Scandinavian banks and 37 percent of Spanish banks.
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Source: EUbusiness
ETF Quarterly Statistics: 4th quarter 2012
The latest report supplies detailed figures on the growth of SIX Swiss Exchange's ETFs segment in the fourth quarter of 2012.
January 21, 2013--In the 4th quarter of 2012, the Swiss exchange posted a ETF trading turnover of CHF 18.2 billion.
This is shown in the report ETF Quarterly Statistics[pdf], published today by SIX Swiss Exchange. In total, turnover in the ETF segment during the calendar year 2012 amounted to CHF 76'082 million. Despite remaining below the level of the record year 2011, the turnover posted for 2012 is substantially higher than in 2010. This amounts to a European market share of approximately 15%. With 204'132 trades in the 4th quarter, a total of 799'721 transactions has been executed in the ETF segment of SIX Swiss Exchange in 2012, with an average trade size of CHF 95'135.
Highest turnover in Commodities & Precious Metals
Five of the ten ETFs with the highest turnover on the Swiss exchange during Q4 invested in gold, followed by three ETFs on Equity Developed Markets and two on Emerging Markets. With CHF 1'228, CS ETF (CH) on SMI has again defended its position as the ETF with the highest turnover - for the fifth quarter in a row.
Overall, ETFs on Commodities & Precious Metals recorded a turnover of CHF 6'572 million, representing a 36% share of total turnover in the ETF segment. A close second was the asset class Equity Developed Markets, with turnover of CHF 6'382 million, which equates to a share of 35%. CS ETF was once again the biggest provider by turnover in the third quarter with 24%, followed by iShares with 22% and ZKB with a 16% share.
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Source: SIX Swiss Exchange
Moscow Exchange Announces Intention to Float on its Own Platform
January 21, 2013--OJSC Moscow Exchange MICEX-RTS ("Moscow Exchange" or the "Company") announces its intention to proceed with an initial public offering (the "Offering") of ordinary shares (the "Shares") with a view to being listed on Moscow Exchange's own trading platform, CJSC MICEX Stock Exchange.
Key Highlights
Leading provider of trading and post-trading infrastructure in the CIS region, operating the largest exchange in Russia for equities, bonds, foreign exchange, derivatives, and money market trading as well as providing clearing, settlement and depositary services across the full range of traded instruments.
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Source: OJSC Moscow Exchange MICEX-RTS
db X-trackers lists China sector ETFs in Frankfurt
January 21, 2013--Deutsche Bank’'s exchange-traded funds (ETF)
platform, db X-trackers, is providing European investors with exposure to specific sectors of the Chinese equity market with the listing of five new products on the Frankfurt Stock Exchange.
The ETFs provide exposure to sectoral components of the CSI300 Index, which
reflects the performance of Chi na’s A-shares market*. Sector exposures available are: energy, health care, consumer discretionary, banks and real estate.
Manooj Mistry, Deutsche Bank’s head of exchange-traded products, EMEA, commented: “db X-trackers has played a key part in opening up Chi na’s A-shares market to foreign investors, first with the listing of a series of A-shares ETFs in Hong Kong, then with the cross-listing last year to London of the db x-trackers CSI 300 UCITS ETF, and now with the cross-listing from Hong Kong to Frankfurt of specific sector ETFs on the CSI 300. This will make it much easier for European investors to trade Chinese equity exposure.”
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Source: db X-trackers
SocGen tipped to sell Lyxor's ETF business
January 20, 2013--Lyxor's exchange traded fund business is tipped as the next potential M&A target in the European ETF industry as banks continue to exit the sector, experts say.
This month, Credit Suisse announced it had entered into an agreement to sell its ETF business, Europe’s fourth largest, to BlackRock for an undisclosed amount.
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Source: FT.com
Nasdaq OMX fills 3 posts in preparation for NLX launch
January 18, 2013--Nasdaq OMX has hired David Helps as head of business development and Blake Stephenson as compliance director for its planned NLX derivatives market.
"These strategic senior appointments build on our existing team as we prepare for the launch of NLX. They are well known in the industry and bring extensive experience and knowledge of our market," said Charlotte Crosswell, chief executive at NLX, which is expected to offer trading in interest-rate products. Nasdaq has also recruited Tom Morris, formerly of the London Stock Exchange, as a sales director.
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Source: ISDA Daily Lead
Eurex Repo to offer new long-term funding opportunities for GC Pooling and Euro Repo markets
Extension of maximum duration from one to two years
January 17, 2013--Eurex Repo, the leading marketplace for international, electronic repo trading and secured funding, today announced its plans to extend the maximum term of tradable securities for the Eurex Repo markets such as GC Pooling and Euro Repo.
Currently, the maximum duration for transaction is one year; as of 21 January, customers can also trade terms of up to two years. With this step, Eurex Repo provides its market participants with a new and easy-to-use opportunity to make use of the repayment option of the Long Term Refinancing Operations of the European Central Bank (ECB). Starting on the 30 January, the ECB will allow banks for the first time to prematurely return LTRO liquidity which they borrowed from the ECB in December 2011 and February 2012 with a maturity of 3 years. The fixed rate for the ECB loan is significantly higher than the current interest rate in the market.
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Source: Eurex
German investors pull out of solar funds, shift into wind
January 17, 2013--German investors' interest in wind-power funds continued to grow in the second half of 2012, while interest in solar energy waned, according to ratings agency Scope.
In 2010, more than 80% of all closed-end energy funds launched in Germany were solar funds, but their share almost halved to 43% in 2011 and dropped even further to 32% in 2012.
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Source: IP&E
UBS GAM sets fresh high for Italian ETF listings
January 17, 2013--UBS Global Asset Management has launched 61 exchange-traded funds on Borsa Italiana, marking the largest listing of such products on the Milan exchange in a single day.
The range of products replicate 40 indices spanning fixed income, equities and alternative investments, UBS GAM said in a statement on Monday, adding it was the largest one-time ETF listing in Borsa Italiana's history.
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Source: Financial News
Ernst & Young: Outlook positive for 2013 as investors eye Turkey
January 16, 2013--Turkey saw a record number of mergers and acquisitions (M&As) in 2012, an indication that 2013 may be a strong year for foreign and domestic investment, global consultation and auditing firm Ernst & Young told journalists gathered at a press breakfast on Wednesday.
The country saw 184 M&As by Turkish firms and 131 by foreign firms last year, with a total public value of around $23.2 billion. Clients often request to keep the value of their deals confidential, and the total value of M&As in Turkey last year might in fact be around $30 billion, Ernst & Young officials stated.
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Source: Todays Zaman
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