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EU watchdog says will meet G20 derivatives target
May 24, 2012--The European Union will meet a global end-of-year deadline for tougher supervision of the multi-trillion dollar derivatives market, the bloc's market regulator said on Thursday, quelling industry concern of a delay.
The European Securities and Markets Authority (ESMA) will publish draft rules by the end of June to implement a law the bloc has already adopted, ESMA Executive Director Verena Ross told a financial conference
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Source: Reuters
STOXX launches ESG leaders blue-chip indices and becomes UNPRI signatory
May 24, 2012--STOXX Limited, the market-moving provider of innovative, substantial and global index concepts, today introduced the STOXX Europe ESG Leaders 50, EURO STOXX ESG Leaders 50, STOXX Asia/Pacific ESG Leaders 50 and STOXX North America ESG Leaders 50 indices.
The new blue-chip indices complement the existing, fully transparent STOXX Global ESG Leaders Index family.
STOXX furthermore announced that the company has become a signatory to the United Nations Principles
for Responsible Investment (PRI) as a professional service partner. The PRI is a global initiative which
supports the integration of environmental, social and governance (ESG) issues into investment decisionmaking
and ownership practices.
“STOXX is proud to be a signatory to the United Nations Principles for Responsible Investment, and to provide market participants with innovative tools to incorporate ESG factors into their investment decisions,” said Hartmut Graf, chief executive officer, STOXX Limited. “With the launch of the regional STOXX ESG Leaders blue-chip indices, we are demonstrating our commitment to this pledge, as the new indices again set standards in terms of full transparency and comprehensiveness in the ESG indexing space.”
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Source: STOXX
Deutsche Boerse expands its European network
May 24, 2012--Deutsche Boerse continues to expand its high-performance network. The company announced today that it will set up an additional access point to its global trading network in the Equinix ZH4 data centre in Zurich.
This access should be ready for use in the third quarter. SIX Swiss Exchange already uses the Zurich data centre operated by Equinix as a co-location centre for its customers.
Customers of the Eurex international derivatives market as well as the Xetra cash market will both benefit from connection of this Zurich data centre to the Deutsche Börse network infrastructure through an even greater reduction in latency. Latency is, moreover, also reduced for SIX Swiss Exchange customers connected via the Deutsche Börse network. Deutsche Börse expects an average latency of 2.6 milliseconds for the Zurich-Frankfurt connection and 6.9 milliseconds for the Zurich-London connection in the future. The new Equinix ZH4 data centre access point also offers customers the opportunity to efficiently link their respective installations in Frankfurt and Zurich via the low latency network connections provided by Deutsche Börse.
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Source: Deutsche Boerse
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.
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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
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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.”
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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”.
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Source: FT.com
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