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Deutsche Boerse, NYSE Decision To Be Adopted Feb 1 Without Doubt
January 26, 2012--The European Commission, the executive arm of the European Union, will rule on the planned merger of exchange operators Deutsche Boerse AG (DB1.XE) and NYSE Euronext (NYX) on Feb. 1, as planned, EU Competition Commissioner Joaquin Almunia said Wednesday.
A so-called "waiting reserve" that Michel Barnier, the EU's commissioner for internal market and services, Tuesday placed on the matter hasn't pushed that announcement back, Almunia said.
"I can confirm that a decision will be adopted Feb. 1 indeed, without any doubt," Almunia said at the commission's press conference.
A spokeswoman said in a statement Tuesday that Barnier, who has been on a long official travel, wanted more time to review the proposed merger, raising new hopes of garnering support for the proposed $17 billion combination that many investors and analysts have given up upon.
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Source: Dow Jones Newswire
NYSE Euronext announces new ETF on European markets
January 26, 2012--NYSE Euronext is pleased to announce that AMUNDI IS has listed 1 new ETF on NYSE Euronext's Paris market today:
Trading Name: AMUNDI ETF HR 1-3
ISIN: FR0011161215
Symbol: AA13
Reuters RIC: AA13.PA
BBG Ticker: AA13 FP
Underlying index: EuroMTS Highest-Rated Gvt 1-3Y
TER: 0,14%
NYSE Euronext has now 684 listings of 586 ETFs based on more than 400 indices.
Source: NYSE Euronext
FSA consults on changes to the Listing Rules
January 26, 2012--The Financial Services Authority (FSA) has today proposed a number of changes to the Listing Rules that set out the requirements for companies listed in the UK. The changes are updates to the rules to take account of market developments.
The Listing Rules are the responsibility of the United Kingdom Listing Authority (UKLA), operating under the FSA. The Consultation Paper (CP) also sets out some wider issues in relation to the premium listing standard on which comment is sought.
The Listing Rules have been reviewed on a regular basis since their introduction in 2000. The last review in 2008-10 introduced the premium and standard segments in order to provide greater clarity for investors. Today’s proposals, the majority of which are technical in nature, fall under a number of different headings:
Reverse Takeovers
The proposed changes will ensure that reverse takeovers cannot be used as a ‘back-door’ route to listing for companies that would otherwise be ineligible. There are currently exemptions that remove some acquisitions from the reverse takeover requirements. These proposed changes will narrow these exemptions.
Sponsor Regime
Sponsors play an important role in the regime for premium listed companies by ensuring that such companies understand the regulatory framework and by providing assurance to the UKLA that companies are meeting the requirements. Today’s proposals are intended to clarify UKLA’s expectations of sponsors – for example by adding a rule that that the FSA can require a sponsor to confirm to the FSA that its client is complying with the Listing Rules.
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Source: FSA.gov.uk
Eurex and IFM announce joint educational initiative
Eurex and IFM announce joint educational initiative
IFM to deliver its best-in-class derivatives education for Eurex training purposes/Eurex webinar series to target traders and investors in English and Portuguese languages
January 26, 2012-- Eurex Group and the Institute for Financial Markets (IFM) announced today that they have teamed up to offer a joint educational initiative.
Both partners aim to bring IFM’s best-in-class derivatives education to Eurex Exchange members and potential clients as well as the general industry. One joint initiative will be the first-time offering of IFM’s well-respected courses in the form of webinars in English. A large subset of the webinars also will be available in Brazilian Portuguese. Members of the brokerage community will be involved to further extend customer outreach.
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Source: Eurex
Vanguard calls for clarity on fund fees
January 25, 2012--The fund management industry must accept the need for change, says Tom Rampulla, managing director of Vanguard UK. In particular, he called for transparency and clarity on fees, as only if investors have that information can they make an informed decision on investments.
Rampulla says: “We have witnessed downward pressure on fund fees in the run-up to implementation of the UK's Retail Distribution Review (RDR), but there is still a long way to go if investors are to fully benefit from the fantastic opportunities presented by the RDR and phasing in of auto-enrolment.”
“A handful of firms have followed Vanguard’s lead in introducing low cost funds, however many more firms would be compelled to do so if fees were made transparent and easy to understand. Investors can't control the financial markets or a fund's performance, but they can control what they pay to invest. Only by making fees easy to understand can investors make an informed decision. The fund industry has a responsibility to help investors reach their goals, and must fulfill that obligation by embracing transparency and providing investor education.
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Source: Investment Europe
Two new db X-trackers equity index ETFs launched on Xetra
First ETF to cover S&P Equal Weight Index
January 25, 2012-Two new equity index ETFs issued by db X-trackers have been tradable in Deutsche Börse’s XTF segment since Wednesday.
ETF name: db X-trackers S&P Equal Weight ETF
Asset class: equity index ETF
ISIN: LU0659579493
Total expense ratio: 0.30 percent
Distribution policy: non-distributing
Benchmark: S&P 500 Equal Weight Index
ETF name: db X-trackers ATX ETF
Asset class: equity index ETF
ISIN: LU0659579063
Total expense ratio: 0.25 percent
Distribution policy: non-distributing
Benchmark: ATX Index
The db X-trackers S&P Equal Weight ETF enables investors for the first time to participate in the performance of 500 US companies in the S&P 500 index. All companies in the index have a fixed weighting of 0.2%. Dividends and distributions are reinvested after tax deductions.
The investment objective of the db X-trackers ATX ETF is to track the performance of 20 Austrian companies which represent all key sectors. The performance index is weighted according to market capitalisation and takes dividends and distributions into account after deduction of any tax.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 920 exchange-listed index funds, while the average monthly trading volume stands at €16 billion.
Source: Xetra/FWB
Gross Domestic Product Preliminary Estimate - Q4 2011
Key Points
Updated 25/1/2012 - Correction Note: A production error was discovered in the GDP preliminary estimate Q4 2011, originally published at 9.30am on 25th January 2012. The series affected are the 2011 annual pounds million level (ABMI), and the annual index level (YBEZ). All associated growth rates were correct at the time of publishing, and the error has now been corrected.
The chained volume measure of GDP decreased by 0.2 per cent in the fourth quarter of 2011
Output of the production industries decreased by 1.2 per cent in Q4 2011, compared with an increase of 0.2 per cent in the previous quarter
Construction sector output decreased by 0.5 per cent in Q4 2011, compared with an increase of 0.3 per cent in the previous quarter
Output of the service industries was unchanged in Q4 2011, following a rise of 0.7 per cent in the previous quarter
GDP in volume terms increased by 0.8 per cent in Q4 2011 compared with Q4 2010
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Source: Office for National Statistics
UK moves closer to second recession as economy shrinks 0.2%
Drop in manufacturing output dents hopes UK can avoid slump
Data reinforces expectations of new round of QE
Chancellor says government will not change fiscal plans
January 25, 2012--Britain has moved closer to its second recession in three years after official figures showed the UK economy contracted by 0.2% in the last three months of 2011.
A severe drop in manufacturing output in the last quarter dented hopes that the UK could avoid joining much of Europe in a slump that is expected to push up unemployment and see thousands of companies go bankrupt.
Capital Economics, a leading firm of economic analysts, said it was likely the UK was already in recession.
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Source: The Guardian
Deutsche Börse launches algo news feed in Brazil
Availability in Sao Paulo data center marks expansion of “AlphaFlash” into Latin America
January 25, 2012--Deutsche Börse – Market Data & Analytics has launched “AlphaFlash”, its algorithmic news feed, in a data center in Sao Paulo. The feed is available now in Brazil, marking AlphaFlash’s official expansion into South America.
AlphaFlash is hosted at a data center at a local exchange in Sao Paulo.
“Brazil is considered the leader in algorithmic and high frequency trading in Latin America. As this growing market continues to develop, we see greater demand from local quant traders, hedge funds and market participants to consume machine-readable news quickly and efficiently. The new data center allows customers to access AlphaFlash as fast as possible—right on the spot in Brazil, so they can swiftly execute their automated trades,” said Georg Gross, Head of Front Office Data & Analytics at Deutsche Börse.
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Source: Deutsche Börse
EEX Opens Office In Brussels - Energy Commissioner Günther Oettinger Welcomes EEX To Brussels – Political Presence At The European Level Expanded
January 25, 2012--Yesterday, the European Energy Exchange (EEX) officially opened its political representation in Brussels with a New Year reception.
This presence in the heart of the European Quarter is intended, in particular, to expand contacts with the European institutions and intensify the exchange of opinions. Thus, the Brussels offices takes account of the high significance which political decisions of the EU have for the further integration of the European energy markets.
“Energy trading has a central role on the way towards completion of the European internal energy market. The European energy exchanges and trading platforms have to make an important contribution in the current debate at the level of the EU. For this reason, I welcome EEX’s decision to establish a representative office in Brussels and thereby strengthen the market and trading perspective”, Commissioner Oettinger welcomed EEX.
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Source: EEX
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