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NYSE Euronext launches CAC and AEX Low Risk Indices
Low Risk Indices respond to growing demand for better risk control mechanisms
October 23, 2012--NYSE Euronext today announced the expansion of its range of indices with the launch of the CAC(R) Low Risk Index and the AEX® Low Risk Index.
These low risk indices, developed in partnership with Finvex Group, are based on the successful European national blue chip indices and provide new risk adjusted investment possibilities for investors and Exchange Traded Product (ETP) providers.
With the introduction of the new low risk index series NYSE Euronext is responding to growing demand from institutional investors for better risk control mechanisms.
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Source: NYSE Euronext
Banking supervision: an accountable system open to all
October 23, 2012--Draft banking supervision legislation tabled in the Economic and Monetary Affairs Committee on Monday would give national supervisors a greater role than do earlier Commission proposals, while at the same time retaining the European Central Bank's power to decide to supervise any bank directly.
A second text approved by the committee would put the European banking watchdog at the head of a single supervisory system. Both texts would increase the supervisory system's democratic accountability.
The draft texts will now form the basis for work within the committee over the next month with a view to formalising an official committee position by the end of November. Once the committee has adopted its position, it will be ready to enter into negotiations with member states to hammer out a deal.
Accountability is key
Both draft reports propose amendments to the Commission proposals to increase the accountability of the banking supervisor. Powers transferred from the national to the EU level must be accompanied by transparency and accountability arrangements, the texts argue.
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Source: European Parliament
Commission proposes green light for enhanced cooperation on financial transactions tax
October 23, 2012--The 10 Member States that wish to apply an EU financial transaction tax (FTT) through enhanced cooperation should be allowed to do so, because all the legal conditions for such a move are met.
This is the conclusion of the proposal for a Council Decision adopted by the Commission today. Moreover, enhanced cooperation on the FTT would not only bring "immediate, tangible advantages" for those countries that participate, but would also contribute to a better functioning Single Market for the Union as a whole, the proposal states.
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Source: European Commission
Enhanced Cooperation on Financial Transaction Tax-Questions and Answers
October 23, 2012--In September 2011, the European Commission tabled a proposal for a Directive on a financial transaction tax (see IP/11/1085). The essence of this proposal was that a low-rate, wide-base tax would be applied on all financial transactions with any economic link to the EU. The estimated revenue yield was €57 billion.
Following intense discussions for 9 months on this proposal, Member States concluded that they would not be able to agree upon it unanimously within a reasonable period. Nonetheless, a significant number of Member States were still eager to have a common FTT. Therefore, 10 Member States1 formally requested to proceed through enhanced cooperation. They wrote to the Commission, asking for a Decision to be submitted to ECOFIN to enable them to move ahead as a smaller group. Today's Commission proposal for a Decision authorising enhanced cooperation for a financial transaction tax responds to this request.
What is enhanced cooperation?
Enhanced cooperation is when a group of at least 9 Member States decide that they will move ahead with an initiative proposed by the Commission when it proves impossible to reach unanimous agreement on it. It is only relevant to policy areas which require unanimity, and it aims to overcome the situation whereby certain Member States are prevented from advancing with a common approach due to the reluctance and non-agreement of others.
Clear provisions and conditions for enhanced cooperation are set out in Article 20 of the TEU and Articles 326 to 334 (TFEU).
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Source: European Commission
ETF Stat September 2012--Borsa Italiana
October 23, 2012--The ETF Statistics of the ETF Plus Market for the month of September 2012 are now available.
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Source: Borsa Italiana
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
October 23, 2012--Attached is the most recent issue of the European Weekly ETF Market Review. 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.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe-ETF Research
NYSE Euronext announces new ETF on European markets-Amundi
October 23, 2012--NYSE Euronext is pleased to announce that AMUNDI IS has listed one new ETF on NYSE Euronext's Paris market today:Trading Name: AMUNDI TOPIX HDG
ISIN: FR0011314277
Symbol:TPXH
Underlying index:TOPIX Euro Daily Hedged
TER:0.48
NYSE Euronext has now 679 listings of 589 ETFs based on more than 450 indices.
Source: NYSE Euronext
NYSE Euronext announces new ETF on European markets
October 23, 2012--NYSE Euronext is pleased to announce that OSSIAM has listed one new ETF on NYSE Euronext's Paris market yesterday:
Trading Name: OSSIAM WD MINVAR E
ISIN: LU0799656698
Symbol: WOMV
Underlying index:Ossiam World Minimum Variance
TER:0.65
NYSE Euronext has now 679 listings of 589 ETFs based on more than 450 indices.
Source: NYSE Euronext
MTS licenses Lyxor's government bond ETFs
October 22, 2012--MTS, facilitator for the European electronic fixed income market, has granted a licence to Lyxor to create ETFs based on its MTS France and MTS Italy Government Bond 1-3 year indices, which will be called Lyxor 1-3Y MTS France Government Bond and Lyxor MTS 1-3Y Italy Government Bond.
The indices track the performance of all MTS-listed sovereign debt instruments issued by the French and Italian governments that have more than €2bn outstanding and a maturity of between one and three years.
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Source: Investment Europe
BIS-Preliminary international banking statistics at end-June 2012
October 22, 2012--Statistics at end-June 2012 are preliminary and subject to change. Large movements in the latest data are highlighted in the Statistical release.
Data are available via the BIS WebStats interactive query tool, in PDF format and CSV files on the BIS website (locational and consolidated banking statistics), and as a single PDF file in detailed annex tables. Final statistics, with an analysis of recent trends, will be released in conjunction with the forthcoming BIS Quarterly Review, to be published on 10 December 2012. Data at end-September 2012 will be released no later than 22 January 2013.
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Source: BIS
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