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db X-trackers launches the world's first range of North American corporate credit ETFs
June 15, 2012--db X-trackers has launched a range of ETFs designed to provide financially sophisticated investors with exposure to North American high yield and investment grade credit indices.
The London-listed ETFs, which are the first of their kind globally, let institutional investors take pure credit risk exposure – as opposed to the credit plus interest rate risk generated through investing in corporate bond indices
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Source: IAIR
Audit to show Spain banks need up to EUR 65 bn: report
June 14, 2012--An audit of Spanish banks will show they need up to 65 billion euros of fresh capital, the ABC daily said Thursday, citing a draft report by auditors Oliver Wyman and Roland Berger.
Eurozone finance ministers on Saturday agreed to make a loan of up to 100 billion euros ($125 billion) available to the Spanish government to prop up banks laden with bad loans following the collapse of a real estate bubble.
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Source: EUbusiness
European Parliament panel to finalize MiFID II amendments
June 14, 2012--The European Parliament's Economic and Monetary Affairs Committee (ECON) will finalise its amendments to MiFID II by 10 July, setting out its stance on key trading and market structure issues.
The ECON meeting follows the submission of MEP’s individual amends to MiFID II, based on prior meetings and an initial set of proposed modifications to the European Commission’s October 2011 draft of MiFID II by Markus Ferber MEP.
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Source: The Trade News
ETF Stat May 2012-Borsa Italiana
June 14, 2012--The ETF Statistics of the ETF Plus Market for the month of May 2012 are now available.
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Source: Borsa Italiana
Government sets out plans to split retail and investment banking
June 14, 2012--The Government has today published a White Paper setting out proposals to fundamentally reform the structure of banking in the UK.
The White Paper, which details how the Government will implement the recommendations of the Independent Commission on Banking (ICB), offers further detail on plans to separate retail and investment banking through a ‘ring-fence’ and increase competition in the banking sector. It sets out proposals to make banks more resilient, as well as making them simpler to resolve in the event of failure.
view the White Paper-Banking reform: delivering stability and supporting a sustainable economy
Source: HM Treasury
FundsNetwork unveils ETF range
June 14, 2012--FundsNetwork has announced a range of 50 exchange traded funds (ETFs) will launch on the platform for advisers next week.
The platform is launching an initial range of 50 physically-backed ETFs on 18 June, including index-linked trackers and commodity ETFs, from the following providers: Credit Suisse, ETFS, HSBC and iShares.
ETF trading on the platform will be carried out using J.P. Morgan's execution service. Advisers will also have access to an ETF information page.
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Source: Investment Group
ECB-Euro area securities issues statistics
June 13, 2012--The annual growth rate of the outstanding amount of debt securities issued by euro area residents decreased
from 4.8% in March 2012 to 4.4% in April. For the outstanding amount of quoted shares issued by euro area
residents, the annual growth rate was 1.4% in April 2012, compared with 1.5% in March.
New issuance of debt securities by euro area residents totalled EUR 903 billion in April 2012.
Redemptions stood at EUR 939 billion and net issues amounted to EUR 1 billion.1 The annual growth
rate of outstanding debt securities issued by euro area residents decreased from 4.8% in March 2012 to
4.4% in April
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Source: ECB
EU27 investment flows with the rest of the world
June 13, 2012--After significant falls in 2010, EU27 FDI1 (foreign direct investment) flows more than doubled in 2011. The EU27
FDI flows to the rest of the world (outflows) reached 370 billion euro in 2011, after having decreased from 316 bn in 2009 to 146 billion in 2010.
FDI into the EU27 from the rest of the world (inflows) were at 225 bn in 2011, after having declined from 234 bn in 2009 to 104 bn in 2010.
These figures2, published by Eurostat, the statistical office of the European Union, come from the first FDI results for 2011.
Half of investments from the rest of the world into the EU came from the USA in 2011 EU27 investments in all its major partners rose in 2011, except for Russia. In 2011, the main destinations of EU investments were the USA (111 bn), the Offshore financial centres3 (59 bn), Switzerland (32 bn), Brazil (28 bn), China (18 bn), Canada and India (both 12 bn). A disinvestment of 2 bn was recorded with Russia in 2011. In 2011, the main investors into the EU27 were the USA (115 bn), Switzerland (34 bn), the Offshore financial centres3 (16 bn), Canada (7 bn), Hong Kong (6 bn), Japan and Brazil (both 5 bn).
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Source: Eurostat
London Stock Exchange Group Directorate and Management Changes
June 12, 2012--London Stock Exchange Group plc ('LSEG') today announces changes to the LSEG Board and the Group's senior management team.
Chief Financial Officer
Doug Webb, Chief Financial Officer and Executive Director, will be standing down from the London Stock Exchange Group Board on 2 July and leaving the company on 31 July 2012.
Doug joined the Group in 2008 and has played a significant role in the recent strategic diversification, strong financial performance and growth of the organisation. Doug's strong risk and balance sheet management skills and financial oversight of Group acquisitions have been of immense value to the organisation.
The Group is very pleased to announce that David Warren will be joining the LSEG Board, taking over from Doug as Chief Financial Officer on 2 July. David will also be a member of the Executive Committee, responsible for all aspects of the Group's financial management, investor relations, property and facilities operations. David brings with him a wealth of executive experience, both in banking and in running exchanges. David previously spent 9 years as CFO at Nasdaq OMX, where he was responsible for all financial operations, including accounting, SEC and regulatory reporting, treasury, tax, financial planning and analysis, corporate finance and investor relations. Following this David spent two years as a Senior Adviser to the CEO of NASDAQ OMX. Prior to his time at Nasdaq OMX, David held a number of senior finance roles, including 7 years at CS First Boston.
Chris Gibson-Smith, Chairman of London Stock Exchange Group, commented:
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Source: London Stock Exchange
ECB-Financial Stability Review June 2012
June 12, 2012--The overall outlook for financial stability has remained very challenging in the euro area. Significant financial market turmoil experienced late last year gave way to some respite in the early months of 2012 following resolute Eurosystem measures, against the background of cumulative political action geared towards a comprehensive strategy to address the causes of the euro area crisis.
This relative calm, however, has proven to be fragile and renewed pressures have again emerged since April. Remaining vulnerabilities in the financial stability outlook demonstrate that there is no room for complacency in implementing needed adjustment, either on the part of governments or on that of banks. In particular, Member States should step up their initiatives to strengthen the fiscal and banking components of a robust monetary union.
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Source: ECB
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