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CDS has amplified European crisis: it’s official!
March 16, 2012--There is now "scientific proof" that credit derivatives have amplified the European debt crisis, a team of researchers said, and has called for more regulation of the market.
They say that failing to make the market more transparent and standardised could lead to financial speculation ruining the massive efforts that developed countries have made to balance their budgets.
Credit default swaps (CDSs) act as insurance against debt issuers defaulting. It should be that the higher the risk of default, the higher the premium on a CDS.
But researchers said this old wisdom is not always true and data proves that these instruments are used for speculation against the deteriorating conditions of sovereign states.
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Source: Funds Europe
Europe looks to trade to spur growth
March 16, 2012--Europe, the world's biggest tariff-free trading bloc, aims Friday to spur growth by revamping trade with the Americas and the Far East.
The European Union wants to rev up trans-Atlantic trade ahead of a G8 summit in Chicago in May, and foreign and trade ministers gathering in Brussels on Friday will seek to give trade a new turbo charge as a way out of recession.
"The process is being taken very seriously on both sides," said an EU official in charge of preparations.
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Source: EUbusiness
Source Physical Gold ETC launched on Xetra
March 16, 2012--A further exchange-traded commodity issued by Source has been tradable on Xetra since Friday. The new ETC enables investors to participate in the performance of the London Gold Market PM Fixing Price.
ETF name: Source Physical Gold P-ETC
Asset class: precious metals
ISIN: DE000A1MECS1
Total expense ratio: 0.29 percent
Distribution policy: non-distributing
Benchmark: London Gold PM Fixing
The Source Physical Gold P-ETC is an exchange-traded bond. The ETC is backed by the physical deposit of gold bars at J.P. Morgan Chase in London.
Deutsche Börse’s ETC segment product range currently comprises 264 products. The monthly trading volume of ETCs on Xetra averages around €900 million.
Source: Xetra
Ossiam Expands Minimum Variance Family of ETFs with Emerging Markets Minimum Variance ETF
March 15, 2012--Ossiam, the investment manager offering specialist exchange traded funds (ETFs) and an affiliate of Natixis Global Asset Management, will list its new ETF, the Ossiam ETF Emerging Markets Minimum Variance NR fund, on the London, Frankfurt, Milan and Paris stock exchanges later this
month.
Bruno Poulin, CEO of Ossiam, commented, “With the launch of our latest fund, Ossiam is providing an
additional solution for investors seeking to build a global equity allocation. This new fund is targeted at
investors who want exposure to emerging markets growth as part of their portfolio, but are wary of high
volatility and risk. The launch of our latest product continues our strategy of setting the standard for
minimum variance ETFs.”
The fund will track a new index initiated by the Ossiam research team, the Ossiam Emerging Markets Minimum Variance Index (Bloomberg: OEMMVNR), calculated and published in real time by S&P1. The index includes a dynamic selection of emerging markets stocks, selected among the 400 most liquid stocks from the S&P IFCI Index. The S&P/IFCI ®Index is a market capitalisation index which tracks the performance of major companies (over 1 800 stocks and ADR) in 20 emerging countries. Ossiam Emerging Markets Minimum Variance Index is weighted with the intention to minimise the volatility of the total portfolio. On average the volatility of the Ossiam Emerging Markets Minimum Variance index is at least 30%2 lower than the S&P IFCI index, with a significant reduction in drawdowns.
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Source: Natixis Global Asset Management
Deutsche Börse and Club Vita aim to open up longevity swaps
A new series of longevity indices which aim to open up longevity swaps to a far larger number of pension schemes is being launched tomorrow by securities trader Deutsche Börse and Club Vita, part of the actuarial firm Hymans Robertson.
March 15, 2012--The Xpect-Club Vita Indices aim to offer UK pension schemes an index-based alternative which better reflect the scheme’s risk profile when pursuing longevity swaps.
The indices will track the different life expectancies of various types of pension scheme members.
According to the two companies, the approach gives schemes the advantages of an index-based trade, while also allowing them to customise the transaction to their member profiles.
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Source: The Actuary
Swiss Franc Advances After Central Bank Raises Growth Forecast
March 15, 2012--The Swiss franc strengthened for the first time in four days against the euro after the central bank raised its growth forecast at a policy meeting.
The currency climbed from a seven-week low against the dollar as the Swiss National Bank predicted the economy will expand 1 percent this year, twice as much as its previous estimate. Policy makers led by interim Chairman Thomas Jordan, maintained their ceiling for the currency at 1.20 francs per euro, and pledged to defend the cap with their “utmost determination.”
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Source: Bloomberg
Twelve new ETCs issued by ETF Securities launched on Xetra
March 15, 2012--Ten ETCs hedged against exchange rate fluctuations
March 15, 2012--Since Thursday, ten exchange-traded commodities issued by ETFS Hedged Commodity Securities Limited have been tradable on Xetra for the first time.
Investors can participate in the performance of individual commodities (Brent crude, natural gas, gold, copper, silver, wheat, and WTI crude oil) and baskets of commodities (agriculture, precious metals, and all commodities) in the DJ UBS Commodity subindex family. These new ETCs provide hedging against exchange rate fluctuations with the US dollar.
Single commodities:
ETFS EUR Daily Hedged Brent Crude (DE000A1N3G19)
ETFS EUR Daily Hedged Copper (DE000A1NZLL0)
ETFS EUR Daily Hedged Gold (DE000A1NZLN6)
ETFS EUR Daily Hedged Natural Gas (DE000A1NZLP1)
ETFS EUR Daily Hedged Silver (DE000A1NZLR7)
ETFS EUR Daily Hedged Wheat (DE000A1NZLS5)
ETFS EUR Daily Hedged WTI Crude Oil (DE000A1NZLM8)
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Source: Xetra/FWB
NYSE Euronext announces new ETF on European markets
March 15, 2012--NYSE Euronext is pleased to announce that LYXOR AM has listed 1 new ETFs on NYSE Euronext's Paris market today:
Trading Name:LYXOR LVIX
ISIN:FR0011160290
Symbol:LVIX
Reuters RIC:LVIX.PA
BBG Ticker:LVIX FP
Underlying index
S&P 500 VIX FutureEnhancedRoll
TER:o.70
NYSE Euronext has now 694 listings of 596 ETFs based on more than 450 indices.
Source: NYSE Euronext
ETF Stat February 2012 --Borsa Italiana
March 15, 2012--The ETF Statistics of the ETF Plus Market for the month of February 2012 are now available.
view report
Source: Borsa Italiana
NYSE Euronext Monthly ETF Activity Report --February 2012
March 14, 2012--Listings
In February, NYSE Euronext welcomed 9 new ETF listings from Lyxor to the Paris market.
| February ETF Listings | |||
| ETF Symbol | Listing date | ETF Trading name | Underlying index |
| FINU | 16/02/2012 | Lyxor ETF S&P 500 Capped Financials | S&P Select Sector Capped 20% Financials |
| INDS | 16/02/2012 | Lyxor ETF S&P 500 Capped Industrials | S&P Select Sector Capped 20% Industrials |
| MATU | 16/02/2012 | Lyxor ETF S&P 500 Capped Materials | S&P Select Sector Capped 20% Materials |
| CODU | 16/02/2012 | Lyxor ETF S&P 500 Capped Consumer Discretionary | S&P Select Sector Capped 20% Consumer Discretionary |
| COSU | 16/02/2012 | Lyxor ETF S&P 500 Capped Consumer Staples | S&P Select Sector Capped 20% Consumer Staples |
| NRGU | 16/02/2012 | Lyxor ETF S&P 500 Capped Energy | S&P Select Sector Capped 20% Energy |
| HLTU | 16/02/2012 | Lyxor ETF S&P 500 Capped Health Care | S&P Select Sector Capped 20% Health Care |
| TNOU | 16/02/2012 | Lyxor ETF S&P 500 Capped Technology | S&P Select Sector Capped 20% Technology |
| UTLU | 16/02/2012 | Lyxor ETF S&P 500 Capped Utilities | S&P Select Sector Capped 20% Utilities |
Trading activity
The slow start to the year witnessed in January was again quite noticeable in February. Overall ETF trading activity on NYSE Euronext remained remarkably low:
The average daily value traded on-book last month was €237.3 million, down 44.9% vs. February 2011. The total value traded on-book amounted to €5.0 billion, down 14.7% month-on-month;
An average of 6,736 on-book trades (single-counted) was executed daily last month, a decrease of 27.5% vs February 2011;
A total of €992.6 million was exchanged in block trades in February, down 12.5% from the €1.1 billion in the previous month. Overall, block trade volume represented 16.6% of total regulated market ETF trading activity on NYSE Euronext.
visit http://etp.nyx.com for more information
Source: NYSE Euronext
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