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Knowledge gaps on both sides of the table
June 15, 2012--With less than six months before the Financial Services Authority (FSA) introduces new standards for advisers, under its Retail Distribution Review (RDR), the rush to train wealth managers has become a defining theme of 2012.
But while the progress evidenced in this year’s survey results is impressive, we at Ledbury Research believe further improvements in education and qualifications are needed.
Our monitoring of UK wealth managers and their clients suggests that there are two other training campaigns to which the industry needs to commit – in addition to meeting RDR requirements.
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Source: FT.com
Soaring revenues add shine to Dutch HFT
June 15, 2012--A Dutch high-frequency trading firm -which is expected to be put up for sale following a strategic review-reported a near-doubling of revenues in its Amsterdam office last year.
Flow Traders BV reported a 97% increase in trading revenues to €112.4m in the 12 months ended 31 December 2011, according to accounts filed with the Netherlands Chamber of Commerce. Pre-tax profits increased from €6m to €38.3m.
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Source: Financial News
Four new UBS ETFs launched on Xetra
June 15, 2012--Four 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 ETFs plc- HFRX Equity Hedge Index SF (EUR) A-acc
Asset class: equity index ETF
ISIN: IE00B76VD289
Total expense ratio: 1.50 percent
Distribution policy: non-distributing
Benchmark: HFRX Equity Hedge Index
ETF name: UBS ETFs plc-HFRX Event Driven Index SF (EUR) A-acc
Asset class: equity index ETF
ISIN: IE00B76VD396
Total expense ratio: 1.50 percent
Distribution policy: non-distributing
Benchmark: HFRX Event Driven Index
ETF name: UBS ETFs plc -HFRX Macro CTA Index SF (EUR) A-Acc
Asset class: equity index ETF
ISIN: IE00B76VD404
Total expense ratio: 1.50 percent
Distribution policy: non-distributing
Benchmark: HFRX Macro CTA Index
ETF name: UBS ETFs plc – HFRX Relative Value Arbitrage Index SF (EUR) A-Acc
Asset class: equity index ETF
ISIN: IE00B76VD511
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Source: Xetra
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.
view report
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
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