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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
Mit Bernardus Roelofs von Flow Traders B.V., Amsterdam
Fragen an Bernardus Roelofs, Global Head ETF Sales Trading, Flow Traders B.V., Amsterdam
October 22, 2012--Herr Roelofs, was macht Flow Traders genau? Wo sind Ihre Standorte und wie viele Mitarbeitende beschäftigen Sie?
Flow Traders ist ein eigenständiges Handelsunternehmen, welches sich seit seiner Gründung 2004 ausschliesslich auf das Market Making von ETFs und ETCs spezialisiert hat.
Als Market Maker sorgen wir fortlaufend für die Liquidität von rund 1.700 ETFs und ETCs an allen wichtigen Börsenplätzen. Institutionelle Anleger können mit uns sogar fast alle ETFs weltweit auf OTC-Basis handeln. Auf fünf Standorte weltweit verteilt, beschäftigt das Unternehmen derzeit 190 Mitarbeitende. Der Hauptsitz der Firma ist in Amsterdam.
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Source: Youquant.com
New Ossiam Equity Index ETF Launched On Xetra-ETF From The Minimum Variance Index Family Tracks The Largest Companies Worldwide
ETF from the Minimum Variance index family tracks the largest companies worldwide
October 22, 2012--A new index fund issued by Ossiam Lux to be tradable on Xetra from Monday.
ETF name: Ossiam ETF World Minimum Variance NR (EUR share class)
Asset class: equity index ETF
ISIN: LU0799656698
Total expense ratio: 0.65 percent
Distribution policy: non-distributing
Benchmark: Ossiam World Minimum Variance Index Net Return USD
Trading currency: euro
The Ossiam ETF World Minimum Variance from the Ossiam Minimum Variance Index series tracks for the first time the performance of the world's most liquid companies from the five regional indices of the S&P Global 1200 Index: S&P 500, S&P Europe 350, S&P TOPIX 150, S&P/TSX 60, S&P/ASX All Australian 50.
The broadly diversified portfolio is composed using a dynamic process. The selected shares are weighted in accordance with an optimisation process which creates high risk diversification and accordingly low variance.
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Source: Xetra
Source gains highest European ETP assets in Sep
October 22, 2012--October 22, 2012--Source, a leading provider of Exchange Traded Products (ETP), captured US$1.2bn or 24% of European net new assets (NNA) in September 2012, the highest share of assets of any European ETP manager.
Investors poured over US$5bn of (NNA) into ETPs in September, representing growth of 5% month on month. This inflow increases total net new assets in European ETPs in 2012 year to date to US$21bn¹. Source retains second rank for NNA year to date².
Source’s commodities business now has total assets outstanding (TAO) in excess of $4bn across a suite of commodity products. The flagship product, Source Physical Gold (SGLD), has raised NNA in excess of $1.14bn year to date, and traded over $4.5bn³. SGLD is listed on the LSE, XETRA and SIX and is the most traded exchange traded gold product in Europe³.
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Source: Source
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