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HSBC acts on securities lending profits
August 23, 2012--HSBC Global Asset Management has decided to return all profits from securities lending operations across its entire Ucits fund range to investors ahead of the implementation of new European rules governing stock lending activities.
“It is a decision we made based on what we felt was appropriate for this firm and our clients,” said Sri Chandrasekharan, chief executive of HSBC Global Asset Management in an interview with Ignites Europe.
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Source: FT.com
FSA proposes to ban the promotion of UCIS and similar products to ordinary retail investors
August 22, 2012--The Financial Services Authority (FSA) has published proposals to ban the promotion of Unregulated Collective Investment Schemes (UCIS) and similar products to the vast majority of retail investors in the UK.
The proposed rules mean that, in the retail market, promotions will generally be restricted to sophisticated investors and high net worth individuals for whom the products are more likely to be suitable.
Currently, UCIS can be promoted to ordinary retail investors if an adviser first assesses the product’s suitability. In effect, today’s consultation paper should prevent firms from marketing UCIS to ordinary retail customers, even in the context of financial advice.
Russia finally joins WTO
August 22, 2012--After 18 years of negotiation, Russia on Wednesday entered the World Trade Organisation (WTO), which restricts import duties and subsidies in an attempt to create a level playing field for international trade.
Analysts and politicians hope that Russia, which has long proven a formidable market to foreign investors because of its byzantine bureaucracy and protectionist tariffs, would be transformed by its entry into the WTO.
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Source: FIN24
1,000 ETFs tradable on Xetra
Deutsche Börse has largest product offering and highest turnover in Europe
August 22, 2012--The five new equity index ETFs from db X-trackers mean that more than 1,000 ETFs have been tradable on Xetra since Wednesday. The product offering in the Deutsche Börse XTF segment thus remains the largest of all the European stock exchanges.
This selection, together with an average monthly trading volume of €12 billion, makes Xetra Europe’s leading trading venue for ETFs. Its market share in European ETF trading is around 38 percent, with funds of more than €170 billion invested in ETFs.
In April 2000, we became the first European stock exchange to introduce ETF trading. The number of products and the amount of funds invested have developed at a rapid pace since then. The product range comprises ETFs on equities, bonds and commodities and various topics such as dividend strategies,” said Rainer Riess, Managing Director of Xetra Market Development at Deutsche Börse. “The drivers of growth are the increasing awareness of ETFs and their variety of uses. Thanks to high liquidity, investors benefit from high transparency and low transaction costs in Xetra trading, which is both monitored and fair.”
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Source: Deutsche Börse
Neue Schwellenländer-ETFs auf Aktienmärkte asiatischer Lä
22 August 2012--db X-trackers, Deutsche Bank Exchange Traded Funds (ETFs), hat heute den ersten ETF an der Deutschen Börse gelistet, dessen unterliegender Index die Entwicklung des Aktienmarktes der Philippinen abbildet.
Durch das Listing des MSCI Philippines IM TRN Index ETF verfügt db X-trackers als einziger Anbieter in Europa über eine Palette aus ETFs, die die Entwicklung aller groβen Volkswirtschaften Südostasiens verfolgen. Über die Abbildung eines entsprechenden, von MSCI berechneten Index war es bereits zuvor möglich, sich an der Entwicklung der Aktienmärkte Thailands, Vietnams, Indonesiens und Malaysias über einen ETF von db X-trackers zu beteiligen. Mit dem MSCI Philippines IM TRN Index ETF kann nun nahezu der gesamte Südostasiatische Raum mit einzelnen ETFs abgedeckt werden. Aktuell scheint die Wirtschaft der Philippinen in einer positiven Phase zu sein.
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Source: db X-trackers
Hedge Funds Pose Limited Risk to Financial Stability, FSA Says
August 21, 2012--Hedge funds pose a limited risk to the stability of the financial system, according to a survey by the U.K.'s Financial Services Authority.
Funds have a “strong ability to manage the liquidity of their assets and liabilities,” the FSA said in a report published on its website today. The regulator collected data on funds with a total of more than $380 billion under management.
Banks and other counterparties of hedge funds have “increased margining requirements and tightened other conditions on their exposures to hedge funds since the financial crisis,” according to the FSA report.
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Source: Bloomberg Business Week
LME approves Jefferies Bache as ring-dealing member
August 21, 2012--The London Metal Exchange (LME) has approved the brokerage arm of U.S. investment bank Jefferies Group as a Category 1, or ring-dealing member, the exchange said on Tuesday.
The LME did not say when Jefferies Bache would start trading as a Category 1 member. When it does, it will become one of a dozen top-tier members with the right to trade on the open-outcry ring, electronic LMESelect and the telephone market.
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Source: Reuters
Getco taps Credit Suisse ETF head
August 21, 2012--Getco, a leading high-frequency trading and marketmaking firm, has hired one of Credit Suisse's most senior traders of exchange-traded funds, Financial News has learned, in a sign of the firm's growing ambitions in the ETF sector.
Aidan Hsu, most recently head of European ETF trading at Credit Suisse, joined Getco Europe in London this month, according to the Financial Services Authority's register of authorised persons.
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Source: Financial News
STOXX Launches Broad, Size and Blue-Chip Indices for Emerging and Developed Markets
Further indices covering East Asia and Africa are added to STOXX universe
August 21, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today introduced 19 broad, size and blue-chip indices for covering Emerging and Developed Markets, East Asia and a broad index for Africa.
The new indices are derived from the STOXX Emerging Markets Total Market, STOXX Developed Market Total Market, STOXX East Asia Total Market and STOXX Africa Total Market indices that were introduced earlier this year.
“With the expansion of our STOXX Emerging and Developed Markets Index offering, as well as the launch of new regional indices, we are broadening the coverage of the world’s markets with innovative and rules-based STOXX indices,” said Hartmut Graf, chief executive officer, STOXX Limited. “STOXX is highly committed to the development of sophisticated and highly tradable index concepts, and the blue-chip indices launched today again prove this.”
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Source: STOXX
Publication of the translations of ESMA guidelines on certain aspects of the MiFID suitability requirements
August 21, 2012--Today ESMA published the official translations of the "Guidelines on certain aspects of the MiFID suitability requirements" (ESMA/2012/387).
Today’s publication triggers a transitional period of two months within which national competent authorities have to declare whether they intend to comply with the guidelines or otherwise explain the reasons for non-compliance.
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Source: ESMA
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