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London Stock Exchange-Exchange Traded Funds and Exchange Traded Products Monthly statistics - August 2011
September 20, 2011--Developments
More than 120 new ETFs and 15 ETCs have been listed on the London Stock Exchange so far this year.
Amundi has listed 8 new ETFs on London Stock Exchange, 7 of which track emerging markets indices. For more information click here.
Source has listed 5 new ETFs on London Stock Exchange, tracking MSCI Japan, USA, World, Russell 2000 and Stoxx 600 Optimised Banks.
iShares has listed 2 fixed income ETFs called Barclays US Aggregate, Markit High Yield Bond and 3 commodity ETFs giving exposure to oil, gold and agricultural commodities.
HSBC has listed an MSCI Emerging Market ETF, this is the 13th ETF listed on London Stock Exchange so far this year by HSBC ETF.
ETC updates:
ETP trading turnover reaches its highest level since its origination on London Stock Exchange in August with around £5.9 billion value traded and more than 56000 trades with order book and non-order book trades having 50% market share of the total turnover each.
Total value traded was around £26 billion with more than 360,000 trades on the London Stock Exchange during the first 8 months of 2011
Largest exchange by number of ETP listing in globe according to ETF Landscape Industry Highlights by Blackrock- end of July 2011
London Stock Exchange is also the leading exchange for ETPs by number of providers and Asset under Management in Europe
There are 302 Exchange Traded Commodities and 46 Exchange Traded Notes listed on London Stock Exchange 19 new ETCs were launched on LSE so far this year
iShares was a new issuer of physically backed ETCs this year in the UK market
The first ETCs were launched by ETF Securities and listed on the LSE in 2006
The average daily turnover in this sector was £257 million and 2500 trades in August 2011, that is 83% and 43% increase compared to the previous month
ETF/ETPs Fees Promotion
With effect from April 2011, fees for admission of securities by new issuers will be capped at £20,000, where up to 20 securities are admitted in the first month of becoming an ETF/ETP issuer on the London Stock Exchange. Please click here to see the fees factsheet.
Source: London Stock Exchange
Dow Jones Indexes Launches Eight New Indexes In Major Expansion Of European Product Line
Strategic Additions to Region’s Suite of Offerings/Underscore Debut of Firm’s ‘Focus Europe’ Marketing Campaign
New Market Gauges Come From Dow Jones Indexes’ Dividend and Real Estate Index Families
September 20, 2011--In a significant expansion of its European suite of offerings, Dow Jones Indexes today announced the launch of new dividend-focused and real estate indexes.
The eight additions are the latest in Dow Jones Indexes’ succession of new market barometers underscoring the global index provider’s revitalised commitment to a region as reflected by the theme of its new marketing campaign: “Focus Europe”. Beginning today, Dow Jones Indexes plans to roll out a series of strategically targeted “Focus Europe” print and online advertisements in European indexing and structured products trade publications in addition to placing related displays on its website.
So far in 2011, Dow Jones Indexes has unveiled for the European markets two volatility index series on September 13: the Dow Jones Europe Volatility Risk Control Indexes and the Dow Jones Eurozone Volatility Risk Control Indexes; and two blue-chip indexes on June 20: the Dow Jones Europe Titans 80 Index and the Dow Jones Eurozone Titans 80 Index.
The indexes launched today include:
Dow Jones Europe Select Dividend 30 Index;
Dow Jones Eurozone Select Dividend 30 Index;
Dow Jones Europe Select Dividend 30 Distributing Index;
Dow Jones Eurozone Select Dividend 30 Distributing Index;
Dow Jones France Select Dividend 20 Distributing Index;
Dow Jones Germany Select Dividend 20 Distributing Index;
Dow Jones Europe Developed Markets Select Real Estate Securities Index; and
Dow Jones Europe Developed Markets Select REIT Index
read more
Source: Dow Jones Indexes
Vienna Stock Exchange Launches Top Dividend Indices For The ATX, CECE And CEESEG Traded Index Today
September 20, 2011--The Vienna Stock Exchange started the calculation and publication of the new Top Dividend Indices for the ATX, the CECE and the CEESEG Traded Index today. All three of the indices are composed of the ten stocks with the highest dividend yields from the respective underlying index. The new indices of the Vienna Stock Exchange give investors with a focus on “comprehensive dividend strategies” new investment options precisely in times of low interest rates on bonds and volatile markets.
The three indices have been designed as tradable indices that can serve as underlyings for structured products and standardized derivatives (futures and options).
The ATX Top Dividend Indices are calculated in Euro and disseminated in in real time, and the CECE and CEESEG Top Dividend indices are calculated in Euro and US-Dollar. All indices are available as price indices (only “pure" prices used in index calculation), total return indices (includes gross dividends of index members) and net total return indices (includes dividend payouts after taxes).
Source: Vienna Stock Exchange
AFME And ICMA Announce New Co-Operation Agreement
September 20, 2011--The Association for Financial Markets in Europe (AFME) and the International Capital Market
Association (ICMA) have announced the signing of a Memorandum of Understanding (MoU) which
will strengthen their co‐operation on matters of mutual interest in European financial markets. The
agreement is focussed on streamlining communication between the two associations and eliminating
any operational inefficiency which could arise through duplication of effort. The aim is to maximise
the influence of each association on behalf of its individual members.
AFME and ICMA represent different sectors within the capital markets and different, although
partially overlapping, membership bases. Under the new arrangement, each retains its current
structure and independence.
Collaborative efforts will be directed towards agreeing a common approach to regulatory developments in Europe which affect both associations’ members. Examples would include the sharing of information and responses to consultations and attending each other’s relevant committees and councils as observers.
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Source: Association for Financial Markets in Europe (AFME)
Germany plans crisis group for euro emergencies: draft law
September 20, 2011--Germany is poised to establish a small group of deputies empowered to give rapid parliament decisons, such as buying bonds, in future debt crises, according to a draft bill seen by AFP Tuesday.
The draft legislation, drawn up by lawmakers from Chancellor Angela Merkel's ruling coalition, would allow a sub-committee of the parliament's budgetary group to give its assent in situations where extreme speed is required.
Members of this committee "will be able to take the necessary decisions quickly and confidentially," the draft says, adding that the number of people should be kept "as small as possible."
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Source: EUbusiness
The debt crisis in the eurozone
August 19, 2011--Key dates in the latest phase of Europe's financial crisis:
JULY
- 21: Eurozone leaders agree on a new bailout of Greece totalling 159 billion euros ($216 billion), involving for the first time private bondholders such as banks. Greece's debt comes to some 350 billion euros, more than 150 percent of gross domestic product.
AUGUST
- 3: New market pressure on Italy, whose debt comes to more than 1,900 billion euros, and on Spain. Borrowing costs for the two countries hit record heights.
- Fears emerge that France could be the next country to suffer a debt crisis.
- 11: Stock exchange authorities in France, Italy, Spain and Belgium ban the financial technique known as "short selling".
- 12: Italy's cabinet approves a 45.5-billion-euro austerity budget.
read more
Source: EUbusiness
Scandal at UBS points to mix of failures
September 19, 2011--Who and what are to blame for the $2bn in “unauthorised” trading losses that have hit UBS, the latest in a line of rogue trading scandals to rock the investment banking industry?
Was it lax risk management and controls across the Swiss group, whose once-sterling reputation was all but destroyed during the crisis by $50bn in toxic writedowns and a bruising investigation into whether it helped wealthy clients to evade US tax?
Was it a failure of senior UBS executives to understand the complexity of some of the trades being made by relatively junior employees such as Kweku Adoboli, 31, the director who was remanded in custody on Friday after being charged with fraud and false accounting in connection with the losses?
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Source: Financial Express
High deficit exposes Turkey to shocks
September 18, 2011--Turkey is vulnerable to external shocks because of its high current account deficit, but the risk will diminish as the economy slows from its blistering rate of growth, Mehmet Simsek, the country’s finance minister, has told the Financial Times.
"Yes, we have a very large current account deficit and we are concerned about it . . . and I do take on board that a large current account deficit makes us more vulnerable to external shocks,” he said in an interview. “But at the same time other fundamentals in Turkey are strong enough to manage things.”
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Source: FT.com
UBS Provides More Detailed Information On Unauthorized Trading
September 18, 2011--On September 15, 2011 UBS announced that it had discovered unauthorized trading in its Investment Bank. This trading was conducted by a trader in its Global Synthetic Equity business in London. The trader in question has been charged by UK authorities with fraud by abuse of position.
Before making a further announcement, we needed to be certain that we understood the positions that were booked and that we knew the amount of our resulting loss.
We have now covered the risk resulting from the unauthorized trading, and the equities business is again operating normally within its previously defined risk limits. The loss arising from this matter is USD 2.3 billion. As previously stated, no client positions were affected.
The loss resulted from unauthorized speculative trading in various S&P 500, DAX, and EuroStoxx index futures over the last three months. The positions taken were within the normal business flow of a large global equity trading house as part of a properly hedged portfolio. However, the true magnitude of the risk exposure was distorted because the positions had been offset in our systems with fictitious, forward-settling, cash ETF positions, allegedly executed by the trader. These fictitious trades concealed the fact that the index futures trades violated UBS's risk limits.
Following inquiries directed to him by UBS control functions that were reviewing his positions, the trader revealed his unauthorized activity on September 14, 2011.
UBS's Board of Directors has set up a special committee to conduct an independent investigation of the unauthorized trading activities and their relation to the control environment. The committee will be chaired by David Sidwell, the Senior Independent Director, and will report to the Board of Directors. The other members of the committee are Ann Godbehere and Joseph Yam.
UBS news: http://www.ubs.com/1/e/about/news.html
Source: UBS
Eurozone-only transaction tax possible: Germany
September 17, 2011--A proposed tax on financial transactions could be introduced in the eurozone alone, German Finance Minister Wolfgang Schaeuble said in an interview to be published Sunday.
"The ban on 'naked' short selling was only the beginning of the measures we are taking," Schaeuble told Bild am Sonntag.
"Before the end of the autumn we are going to create a tax on financial transactions. If necessary, I'm sure, just in the eurozone," he added.
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Source: EUbusiness
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