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New bond index ETF from PIMCO Fixed Income Source launched on Xetra
June 25, 2012--A new equity index fund issued by PIMCO Fixed Income Source has been tradable on Xetra since Monday.
ETF name: PIMCO German Government Bond Index Source ETF
Asset class: bond index ETF
ISIN: IE00B87LHK09
Total expense ratio: 0.15 percent
Distribution policy: distributing
Benchmark: Markit iBoxx € Germany Index
The PIMCO German Government Bond Index Source ETF enables investors to participate in the performance of German government bonds denominated in euros with a residual maturity of at least one year and an outstanding volume of at least €2 billion.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 985 exchange-listed index funds, while the average monthly trading volume stands at €12 billion.
Source: Xetra/FWB
Airmic, FERMA seek to certify risk managers
June 24, 2012--European risk management associations are looking at ways to put the status of risk managers on a par with other professionals such as lawyers and accountants.
The Federation of European Risk Management Assns. has embarked on a project to certify risk managers in Europe, while London-based Airmic Ltd. is seeking chartered status for risk managers in the United Kingdom.
Airmic and FERMA say they want to put risk managers on a level footing with other professions, and the New York-based Risk & Insurance Management Society Inc. says it is watching developments in Europe and continues to explore similar moves to raise the profile of risk managers in the United States.
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Source: Business Insurance
S&G to list first active equity ETF in Europe
June 24, 2012--Swiss & Global Asset Management will this week list the first actively managed equity exchange traded funds in Europe.
A small number of actively managed ETFs have been launched in the US, where there are tax advantages to the structure. However, they have been slow to gain traction, apart from rare exceptions such as Pimco’s Total Return ETF.
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Source: FT.com
Eurozone's big four agree on financial transactions tax
June 22, 2012--Germany, France, Italy and Spain are in favour of a common financial transactions tax even though it may not be possible across all the European Union, their leaders said Friday at talks in Rome.
"I am pleased that all four here have committed to a financial transactions tax," Germany's Chancellor Angela Merkel said.
Merkel said the tax would be welcomed because "the people in our countries have the impression that the crisis started in the financial markets and that they have not contributed enough to the solution."
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Source: EUbusiness
European Commission-Update-The banking union
June 22, 2012--The Commission believes there has to be a clear longer term vision on the future of the EU's Economic and Monetary Union to give a sense of direction to the reforms and decisions necessary for the EU and its Member States to tackle current challenges.
Therefore, the Commission has been pushing for deeper economic integration as one of the remedies to the current crisis. This new step in European integration would complement our monetary union. In this context, the Commission is putting forward the concept of a banking union.
The European banking union is not a new legal instrument yet. It is a political vision for more EU integration, which will build on recent major steps to strengthen the regulation of the banking sector and go further.
The concept of a banking union was put forward by President Barroso at the last informal European Council, which took place on 23 May. It has been attracting a lot of attention in the political debate since this meeting and ranks high on the agenda of the next European summit.
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Source: Europa
ESMA publishes an update to the MiFID Q&A in the area of Investor Protection and Intermediaries
June 22, 2012--This update contains one new Q&A and Automatic execution of trade signals.
view the MiFID Questions and Answers-Investor Protection & Intermediaries
Source: ESMA
Exchange Council approves introduction of new trading architecture
Gradual migration from December 2012/ Clients to benefit from minimal latency, maximum data throughput and increased flexibility
June 22, 2012--The Eurex Exchange Council unanimously approved the planned introduction of a completely new trading architecture at its regular meeting. This approval meets a major legal requirement.
The introduction of the new trading system will, among other things, also require an amendment to the Exchange Rules to also be approved by the Exchange Council. The migration is scheduled to begin in December 2012, with products transferred from the current to the new system in four stages.
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Source: Eurex
Two new UBS ETFs launched on Xetra
ETFs track indices on the UK and the Pacific region excluding Japan
June 22, 2012--Two new exchange-listed equity index funds from the issuer UBS Global Asset Management have been tradable in Deutsche Boerse's XTF segment since Friday.
ETF name: UBS ETF MSCI Pacific (ex Japan) I
Asset class: equity index ETF
ISIN: LU0446734799
Total expense ratio: 0.30 percent
Distribution policy: distributing
Benchmark: MSCI Pacific ex Japan Index
ETF Name: UBS ETF FTSE 100 I
Asset class: equity index ETF
ISIN: LU0446735176
Total expense ratio: 0.23 percent
Distribution policy: distributing
Benchmark: FTSE 100 Index
The UBS ETF MSCI Pacific (ex Japan) I enables investors to participate in the performance of medium- to large-sized companies from the four developed economies of the Pacific region excluding Japan. The individual stocks are weighted according to free-float market capitalisation. The index currently comprises 146 companies and covers approximately 84% of the market capitalisation in each country.
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Source: Xetra
IMF Sees Euro Crisis at Critical Stage, Sees Bank Stress
June 21, 2012--The euro area crisis has reached a "critical stage" and member nations must make a 'strong commitment" to the shared currency to stop the plunge in investor confidence, the International Monetary Fund said in a report that recommended issuing common debt as one solution.
“Despite extraordinary policy actions, bank and sovereign markets in many parts of the euro area remain under acute stress, raising questions about the viability of the monetary union itself,” the Washington-based organization said in a report today. “The financial and economic environment continues to deteriorate. Investors are withholding funding from member states most in need, moving capital to safe havens and driving risk premiums to new records.”
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Source: Bloomberg Businessweek
HM Treasury and Bank of England announce technical changes to selected foreign currency operations
June 21, 2012--HM Treasury and the Bank of England are today announcing that they expect to make some technical changes to the terms on which they transact with market counterparties in selected foreign currency operations.
The changes will apply to over-the-counter derivatives transactions undertaken by the Bank both in relation to its own balance sheet and in its role as HM Treasury’s agent in the day-to-day management of the UK’s foreign exchange reserves. These transactions are undertaken to manage the financial impact of fluctuations in foreign exchange and interest rates.
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Source: HM Treasury
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