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Lyxor adds smart strategies to commodity ETFs
March 9, 2012--Lyxor Exchange Traded Funds has launched a new range of 'Smart' Commodity ETFs on the London Stock Exchange.
The new Optimix TR and Momentum TR indices use rule-based, enhanced beta strategies which aim to optimise roll yields across contracts and seasons, or to generate absolute returns from a universe of 24 commodities.
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Source: Canadian ETF Watch
London Stock Exchange Surges After Agreeing to Buy Stake in LCH.Clearnet
March 9, 2012--London Stock Exchange Group Plc (LSE) rallied the most in more than eight months after agreeing to buy a majority stake in LCH.Clearnet Group Ltd. for 463 million euros ($613 million) to expand its post-trade services.
Shares in the owner of Europe’s oldest independent bourse climbed 8.9 percent to 977.50 pence at 12:08 p.m. in London trading, the biggest increase since June 30, valuing the exchange at 2.65 billion pounds ($4.2 billion).
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Source: Bloomberg
IMKB Launches The Financial Education Platform Conscious Investor" On March 12
March 9, 2012--İMKB will launch the financial education information platform "Conscious Investor" on Monday, March 12, at www.bilincliyatirimci.org.
Conscious Investor Platform, created as part of the investor campaign, is primarily aimed at providing information on the capital markets and the stock exchange for those interested in learning about or investing in the capital markets.
www.bilincliyatirimci.org is designed as an interactive portal, and will inform Turkish investors with the help of training modules and fun videos. In addition to the training modules, investors will have access to “Dictionary of Stock Exchange Terms” which includes general concepts about the market; “E-Library”, providing numerous documents, and “News” offering updated information about İMKB and the portal. “Investor Forum” and “Questionnaire” sections will also be available for investors to note their views and suggestions. İMKB plans to continually improve the portal with new training modules as required by the investors. Interactive e-trainings offered in the portal are free-of-charge. The Conscious Investor Platform is available in Turkish only.
Users can follow the Conscious Investor portal on Facebook and Youtube as well.
Source: Istanbul Stock Exchange
EU to keep carbon tax on airlines
March 9, 2012--The European Union will maintain its carbon tax imposed on airlines operating in its airspace, the Danish climate minister said on Friday, despite retaliatory trade measures by China.
As long as an international policy on carbon emissions by airlines is not found, the "EU will stick to its own ETS system", Martin Lidegaard said. Denmark currently holds the EU's rotating presidency.
The carbon tax imposed on airlines by the European Union came into effect on January 1, but carriers will begin receiving bills only in 2013 after this year's carbon emissions have been assessed.
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Source: EUbusiness
Banks caution Europe against new debt swap
March 9, 2012--The head of the Institute of International Finance, Charles Dallara, warned Friday against any more eurozone sovereign debt restructuring in the wake of Greece's huge writeoff deal.
"I would strongly discourage other governments, other peoples of Europe from going this route," Dallara, the IIF managing director who led the private-sector negotiations with the Greek government, told CNBC television.
On Thursday the world's biggest debt restructuring in history was completed, accepted by an overwhelming majority of Greece's private creditors.
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Source: EUbusiness
The eurozone-IMF rescue for Greece: the main points
March 9, 2012--The Greek bond swap is intended to avert default by Greece when debt falls due on March 20 and is a key part of a eurozone-IMF rescue worth up to 237 billion euros to enable the country to rebuild its economy.
Some 83.5 percent of the country's private creditors tendered bonds for exchange, the Greek finance ministry announced on Friday, solidly above a 75-percent requirement Greece had set for the deal to move forward.
Here are the main points of the overall rescue package as published by the Eurogroup of eurozone finance ministers, with extra detail from the Greek finance ministry on Private Sector Involvement (PSI) in the debt writedown:
Under the PSI debt write-off by banks, insurance companies and investment funds, these investors will lose 53.5 percent of the face value on the 206 billion euros ($273 billion) of privately-held Greek debt. This will reduce the debt owed by Greece to private creditors by 107 billion euros. Greece has a total public debt of about 350 billion euros.
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Source: EUbusiness
It's Official: ISDA Triggers Greek Credit Event In Unanimous Decision
March 9, 2012--The International Swaps and Derivatives Association determined today that Greece's bond swap has triggered a credit event.
That will lead to payouts of credit default swaps—essentially, insurance contracts on holdings of Greek bonds under Greek law—that investors purchased to hedge against the risk of holding Greek sovereign debt.
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Source: Business Insider
Component changes made to EURO STOXX Select Dividend 30 Index
March 8, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced changes in composition of the EURO STOXX Select Dividend 30
Index which will become effective March 19, 2012.
Due to a decrease of its dividend payments and negative earnings, LUFTHANSA (Germany, Travel &
Leisure, LHAG.DE) is no longer eligible to be added to the index.
With the open of European markets on March 19, 2012 the following companies are being added to and deleted from the EURO STOXX Select Dividend 30 Index:
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Source: STOXX
European regulators undecided on initial margin rules for uncleared swaps
March 8, 2012--Counterparties will have to post variation margin on uncleared trades-but questions remain over which firms will have to post and collect initial margin
European regulators are still unsure to what extent swaps counterparties should be required to provide and collect initial margin on uncleared derivatives trades, and are considering three potential options - one of which resembles the uncleared margin rules proposed by US regulators in April last year.
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Source: Risk,net
ESMA Makes Available The Recording Of The Open Hearing On EMIR
March 8, 2012--On 6 March 2012, ESMA organised a Public Hearing on draft technical standards on EMIR.
Due to a limited number of places at this hearing, a recording was made, which ESMA makes available on the following page: http://esma.europa.eu/page/post-trading
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Source: ESMA
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