Europe ETP News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
LSE supported Italy banks' decision to sell stake
May 24, 2012--The two Italian banks that this week sold a combined 11.5 percent stake in the London Stock Exchange did so to cut debt, the LSE CEO said adding ties with Intesa Sanpaolo and UniCredit would continue to be close.
Speaking at a financial conference in Milan on Thursday, Chief Executive Xavier Rolet also said the large size of the public debt accumulated in Europe in recent decades was crowding out equities, and hurting small and medium-sized companies especially at the start-up level.
read more
Source: Reuters
ETF chiefs shrug off April slowdown
May 24, 2012--The global head of exchange-traded funds at Credit Suisse has quelled concerns that the market is cooling, projecting growth continuing at a 'strong rate'.
Dan Draper attributed outflows in April to seasonal effects, saying the health and prospects for ETFs as a wrapper remain intact.
April saw outflows of $4.7bn from ETFs in Europe, but followed inflows of $6bn in the first quarter
read more
Source: Efinancial news
Finansinspektionen -Market Risks Management
May 24, 2012--During 2011, Finansinspektionen (FI) investigated how 11 financial companies market risks management. 'Market risk' refers to the risk of loss-incurring value changes in assets and liabilities due to fluctuations in interest rates, foreign exchange rates, stock prices and commodity prices.
Market risks often arise during normal business transactions, e.g. within client-driven trade or during lending/borrowing transactions. In some cases, companies actively expose themselves to market risks in order to earn money, which is referred to as ‘proprietary trading’. To a certain extent, companies can choose the level of market risk exposure via hedging, an investment strategy used to mitigate or eliminate risk.
View the Finansinspektionen (FI) Report: Market risks management
Source: Finansinspektionen (FI)
ESMA finds high level of consistency in EU national regulators' practices for the approval of investment prospectuses
May 23, 2012--The European Securities and Markets Authority (ESMA) has published today "Prospectus Directive-Good Practices in the approval process", a peer review report on the application of regulatory good practices by national supervisory authorities -competent authorities (CA) when approving investment prospectuses.
The review was conducted using good practice criteria that ESMA developed on selected areas of the Prospectus Directive dealing with the approval process for investment prospectuses. The prospectuses provide investors with easy to understand and relevant information on investment products. Peer review reports on national regulators’ procedures contribute to ESMA’s objective of fostering supervisory convergence and achieving a level playing field between jurisdictions.
view the report-Prospectus Directive: Peer Review Report on good practices in the approval process
Source: ESMA
DB - Equity Research-Weekly European ETF Market Monitor
May 23, 2012--The most recent issue of the European ETF Market Monitor is now available. . The report includes key statistics on the European ETF market as well as global ETF market highlights.
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/cgi-bin/pull/DocPull/606-E370/86496605/ETF_Research.pdf
Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank
Vanguard picks London Stock Exchange and FTSE for European ETF debut
FTSE licenses Vanguard with flagship FTSE All-World, FTSE Emerging and FTSE 100 indices for new products
Vanguard Managing Director opens trading in London
Over 900 exchange traded products now listed on LSE
May 23, 2012--London Stock Exchange (LSE) today welcomes Vanguard Asset Management (Vanguard) as a new ETF issuer on its Main Market.
Vanguard has listed five ETFs on LSE – its first such products in Europe. FTSE Group ("FTSE") has licensed Vanguard with its flagship FTSE All-World, FTSE Emerging and FTSE 100 indices to support the products.
Vanguard is LSE’s 15th ETF issuer and today’s admissions bring the total number of London-listed exchange traded products to 933. The licensing of the indices also adds to FTSE’s expanding European ETF business, which accounts for 94 FTSE index-linked products 70 of which are listed on LSE.
To mark the debut Doug Webb, CFO at London Stock Exchange Group and Nick Teunon, Chief Financial Officer of FTSE Group, joined Thomas Rampulla, Managing Director at Vanguard Asset Management, to open trading in London this morning.
Pietro Poletto, Head of Exchange Traded Products at London Stock Exchange Group, said:
“The range of ETFs available to investors accessing our markets continues to grow. Today we are delighted to welcome one of the world’s leading asset management firms, Vanguard, as a new ETF issuer on our markets. We continue to be the leading European exchange for ETFs, and are committed to providing investors with an evermore liquid, competitive marketplace.”
read more
Source: London Stock Exchange
Many synthetic ETFs in 'danger zone'
May 23, 2012--More than three-quarters of the synthetic exchange traded funds listed in Europe are at risk of closure after failing to attract sufficient inflows in their first three years since launching, according to Rick Genoni, global head of ETFs for Vanguard.
Mr Genoni said ETFs which failed to reach $30m in assets were at “huge risk” of closure. He noted that half of all ETFs, including synthetic and non-synthetic, launched in Europe in the last five years were in the “danger zone”.
read more
Source: FT.com
European Parliament votes in favour of FTT
May 23, 2012--The European Parliament voted on 23 May in favour of a financial transaction tax, with a vote of 487 out of 685 in favour. The vote came hours before EU leaders will discuss at an informal growth summit the possibility of introducing such a tax.
"EU leaders meeting today cannot afford to ignore this overwhelming vote in favour of an EU-wide tax on financial transactions,” Nicolas Mombrial, Oxfam’s EU policy advisor said. “Latest polls show two-thirds of Europeans support an FTT, which helps explain why MEPs from all political parties and from countries opposing the tax, such as the UK and the Netherlands, voted in favour."
According to a recent Eurobarometer survey on “The crisis and the economic governance in Europe,” 66% of Europeans now favor a financial transaction tax.
read more
Source: New Europe Online
Eurobonds and project bonds: telling them apart
May 23, 2012--Advocates of spurring growth in Europe have put on the table two financial instruments -- eurobonds and project bonds -- which both entail joint borrowing but differ in detail and scale.
EUROBONDS
The creation of eurobonds has long been promoted by advocates of a more federal Europe. In short, eurozone member states would begin raise funds on debt markets by issuing so-called eurobonds, and would be collectively responsible for the interest due and for repayment of the amount borrowed.
Such joint debt, which the European Commission has repeatedly proposed, would offer several advantages.
PROJECT BONDS Project bonds, which have also been dubbed "baby eurobonds", would be bonds jointly issued by several or all eurozone states. But instead of the funds going to the national coffers for general use, they would be dedicated to a specific infrastructure project. Concrete assets would back the bonds in addition to the guarantees provided by the countries.
read more
Source: EUbusiness
Eurozone states admit contingency plans for Greek euro exit
May 23, 2012--Eurozone countries admitted Wednesday they are examining likely costs and possible complications arising from a potential exit for Greece, but maintain contingency planning is only prudent commonsense.
Treasury officials from the other 16 eurozone member states were told this week to "reflect" on what an exit would mean for their economies in preparation for eventual "coordination concerning what each must do on a European level," a diplomat from one eurozone country told AFP.
read more
Source: EUbusiness
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
