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Brussels pushes for wide ECB powers
August 31, 2012--The European Central Bank would be given sweeping authority over all 6,000 eurozone banks under a plan being drawn up by the European Commission, putting Brussels on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards "banking union".
The plan, agreed at a meeting this week between top aides to José Manuel Barroso, commission president, and Michel Barnier, the EU's senior financial regulator, would strip existing national supervisors of almost all authority to shut down or restructure their countries' failing banks, giving those powers to Frankfurt.
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Source: ECB
Economic sentiment declines further in both the EU and the euro area
August 30, 2012--In August the Economic Sentiment Indicator (ESI) decreased markedly by 2.0 points in the EU, to 87.0, and by 1.8 points in the euro area, to 86.1.
In both areas, the loss in confidence was particularly strong among consumers, retail trade and construction managers. In the services sector the loss in confidence was marked in the euro area but more contained in the EU as a whole. On the contrary, while confidence in industry decreased in the EU, it remained broadly stable in the euro area.
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Source: European Commission
LGIM Commodity ETF passes US$150MM
August 30, 2012--Legal & General Investment Management (LGIM) and Source are pleased to announce that the LGIM Commodity Composite Source ETF (Bloomberg code: LGCU LN Equity) has raised US$150 million in AUM since launch in January 2012 while the majority of providers have seen outflows in broad commodity ETFs in Europe, according to Bloomberg.
The LGIM® Commodity Composite IndexTM (Bloomberg code: TGPLGCC), which is the benchmark for the Source ETF, is designed to represent the collective performance of a wide range of commodities by providing an investible benchmark consisting of selected indices from leading global index providers. LGIM uses an in‐depth quantitative and qualitative screening process to select ‘best‐ofbreed’ commodity indices that combined deliver high‐quality, dynamic and cost‐efficient exposure to the broad commodities market.
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Source: Source
A Hood for heights
August 30, 2012--It isn't every day that you can see the chief executive of a fund management company doing a Spider-Man impression at the top of Europe's highest building.
But anyone who happens to be passing the Shard today (Monday September 3rd) at 6pm will be treated to the sight of Ted Hood, chief executive of Source, abseiling from the very pinnacle of the building to raise money for the Outward Bound Trust, an educational charity.
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Source: FT.com
August 30, 2012--ESMA STATEMENT-Short Selling Regulation Update: Market Maker & Primary Dealer Exemption Notification Procedure
August 30, 2012--ESMA publishes notice to alert financial market participants to its upcoming consultation on the market making and authorised primary dealer exemption under the EU's Short Selling Regulation and the procedure to
be followed by firms and regulators in dealing with notifications of intention to use the exemption.
DB-Equity Derivatives and Quantitative Strategy Research-Europe
August 29, 2012--Please find attached the most recent issue of the Weekly European ETF Market Monitor.
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.
The following link will be available for 90 days. For more information, please click on the link for the full PDF. If you have any trouble viewing the link, copy and paste the link in a browser.
http://pull.db-gmresearch.com/p/549-8879/66255849/Weekly_European_ETF_Market_Monitor.pdf
Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank
STOXX Changes Composition Of Benchmark Indices -Results Of The Third Regular Quarterly Review To Be Effective On September 24, 2012
Results of the Third Regular Quarterly Review to be Effective on September 24, 2012
August 28, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global
index concepts, today announced the new composition of the STOXX Benchmark and their sub-and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index and STOXX
Asia/Pacific 600 Index.
Effective as of the open of European markets on September 24, 2012, the following stocks will be added to
and deleted from the STOXX Europe 600 Index and its respective size and sector indices:
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Source: STOXX
Eurex: More Than 146 million Single Stock Futures Traded
August 28, 2012--Eurex's Single Stock Futures have undergone an exceptionally positive development. The number of tradable products as well as the trading volumes have continuously increased.
Eurex market participants are now able to trade Single Stock Futures on 850+ names, from 20 different global markets, including emerging markets.
More than 146 million contracts have been traded from January to the end of July 2012 with a daily average of 980,000 contracts. The Flexible Futures facility is used extensively with more than 11.7 million contracts traded during the same period.
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Source: Mondovisione
Anthony Da Costa And Mark Rodino Join STOXX Limited
August 27, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced Anthony Da Costa and Mark Rodino have joined the company as chief operating officer (COO) and global head of sales, respectively, effective immediately.
“Anthony’s and Mark’s large experience in the index business and the derivatives space will be a great advantage for STOXX Limited,” said Hartmut Graf, chief executive officer, STOXX Limited. “Both of them will be a valuable asset to our global team, and we are confident that they will contribute to STOXX’s success.”
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Source: STOXX
Monetary developments in the euro area-July 2012
August 27, 2012--The annual growth rate of the broad monetary aggregate M3 increased to 3.8% in July 2012, from 3.2% in June 2012.1
The three-month average of the annual growth rates of M3 in the period from May 2012 to July 2012 increased to 3.4%, from 3.0% in the period from April 2012 to June 2012.
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Source: ECB
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