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Eurozone Sovereign Debt Crisis-Current Status
November 29, 2012--Optima Investment Research economist Richard Asplund has written an in-depth analysis of the
Eurozone Sovereign Debt Crisis. He reviews the situation in several key Eurozone countries, delves
into the institutional issues behind the crisis,
possible solutions and wraps it up with an outlook of
the impact it will have on key Eurex Exchange asset classes and benchmark products.
view report
Source: Eurex
ETF Securities launches first ETC on a commodity basket ex agriculture and livestock
November 29, 2012--A further ETC (exchange traded commodity) issued by ETFS Commodity Securities Limited has been tradable on Xetra since Thursday.
ETC name: ETFS Ex-Agriculture and Livestock DJ-UBSCI
Asset class: commodity basket
ISIN: DE000A1RX1P2
Management fee: 0.49 percent
Benchmark: DJ-UBS Commodity ex-Agriculture and Livestock Index
The ETFS Ex-Agriculture and Livestock DJ-UBSCI ETC enables investors to participate for the first time in the performance of a commodity basket excluding the agricultural and livestock sectors. The ETC tracks the performance of the commodity future from the energy, industrial metals and precious metals sectors.
Deutsche Börse's ETC segment product range currently comprises 269 instruments. The monthly trading volume of ETCs on Xetra averages around €700 million.
Source: Xetra
Eurozone economic sentiment rises in November
November 29, 2012--European business and consumer confidence rose consistently in November, with Germany leading the way among major eurozone economies, the European Union said on Thursday.
The Economic Sentiment Indicator (ESI) produced by the European Commission increased to 85.7 points across the 17-member euro currency area, up 1.4 points from October.
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Source: EUbusiness
Amundi Appoints BNP For ETFs; Drops Credit Agricole
November 29, 2012--Amundi Investment Solutions has replaced Crédit Agricole Corporate and Investment Bank with BNP Paribas as the main market maker for its equity exchange-traded funds and as the single swap counterparty for its equity and commodity ETFs.
The decision by Amundi is a big coup for BNP, according to structurers, citing Amundi as one of the biggest providers of ETFs in Europe, with its largest ETF affected sitting at USD1.07 billion.
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Source: Derivatives Intelligence
Deal on stricter EU rules for sovereign debt ratings
November 28, 2012--Credit rating agencies will have to obey additional rules on sovereign debt ratings, including three set dates per year for issuing them, under a deal agreed by Parliament, the Council and the Commission on Tuesday.
Cross-ownership of agencies and the entities that they rate will be limited to prevent conflicts of interest.
"It was a very difficult process, but we have taken the existing legislation a step forward on a path which will have to be explored further", said lead MEP Leonardo Domenici (S&D, IT).
Some MEPs argued that more must be done to curb the behaviour of agencies whose ratings may be ill-timed or ill-founded and thus aggravate the economic crisis. They believe that the rating market needs more competition, and that rated entities should develop their own rating capacities to counterbalance those of the agencies.
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Source: European Parliament
IMF-Spain: Financial Sector Reform-First Progress Report
November 28, 2012--EXECUTIVE SUMMARY
The main finding of the report is that important progress has been made in reforming the financial sector. In the view of IMF staff, the financial sector program is on track so far, with all
deadlines met.
However, the most challenging steps lie ahead, especially those related to implementing bank restructuring plans and making the asset management company effective.
Recent developments and the outlook in key areas are as follows:
Macro-financial context: Financial market conditions have improved since the announcement of the European Central Bank’s Outright Monetary Transactions program, though they remain difficult. The economy faces further headwinds from private-sector deleveraging, tight credit, falling house prices, fiscal consolidation, and weak confidence amidst high uncertainty, as major pre-crisis imbalances correct.
view the IMF country report-Spain: Financial Sector Reform-First Progress Report
Source: IMF
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
November 28, 2012--The most recent issue of the European Weekly ETF Market Review is now available.
The report includes key statistics on the European ETF market as well as global ETF market highlights. For more detailed coverage please refer to our monthly report, issued in the first week following the end of each month.
request report
Source: Deutsche Bank - Synthetic Equity & Index Strategy - Europe
Lawmakers seek Libor controls at Deutsche Bank hearing
Deutsche Bank regulatory chief faces questions at Berlin hearing
Deutsche Bank has made provisions for Libor probe-board member
Bank declined to quantify size of provisions made for Libor probes
November 28, 2012--German politicians called for tighter regulation of global interest rates after questioning Deutsche Bank about the manipulation of London's Libor benchmark lending rate.
The flagship lender said it had made some provisions to cover the costs of various probes of possible manipulation of benchmark interest rates and reiterated that there were no signs that senior management had behaved inappropriately.
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Source Reuters
Deutsche Boerse completes planned changes in leadership structure
Hauke Stars takes over IT division and Market Data business / Xetra and Eurex under common management already from 1 January / New Head of Group Strategy
November 28, 2012-- Effective 1 December 2012, Ms Hauke Stars (45) will as previously announced assume responsibility for the newly-structured IT division of Deutsche Börse AG.
Deutsche Boerse completes planned changes in leadership structure
At the same time Deutsche Börse's entire market data business as well as selected external IT services will be brought together into this area of responsibility and led by the IT engineer.
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Source: Deutsche Börse
Four new iShares ETFs launched on Xetra
November 28, 2012--Three new bond index ETFs and one new equity index ETF issued by iShares have been tradable in Deutsche Börse's XTF segment since Wednesday.
ETF Name: iShares Global Government AAA-AA Capped Bond
Asset class: bond index ETF
ISIN: DE000A1J7CM0
Total expense ratio: 0.20 percent
Distribution policy: distributing
Benchmark: Barclays Global Government AAA-AA Capped Bond Index
ETF name: iShares Global Corporate Bond
Asset class: bond index ETF
ISIN: DE000A1J7CK4
Total expense ratio: 0.20 percent
Distribution policy: distributing
Benchmark: Barclays Global Aggregate Corporate Bond Index
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Source: Deutsche Börse
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