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ETF Opportunity Partners - Launch Announcement
LEE KRANEFUSS AND RORY TOBIN TO ESTABLISH ETF OPPORTUNITY PARTNERS
September 26, 2011-Lee Kranefuss and Rory Tobin announced
today the formation of ETF Opportunity Partners, a new firm that is
focused on driving transformational opportunities in the rapidly
expanding global Exchange-Traded Fund (ETF) industry.
The founding partners of the firm bring a wealth of ETF, asset
management and capital markets experience to the venture. Both were
instrumental in the development of iShares, the world's largest ETF
provider. Lee Kranefuss is the former Global CEO of iShares, while Rory
Tobin is the former CEO of the International iShares business.
During their time at iShares, assets under management grew from $2bn in 2000 to $470bn, accounting for nearly 50% of the global ETF marketplace. Kranefuss and Tobin were instrumental in the development of critical mass in the ETF product category in North America, Europe, Asia and Latin America.
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Source: Powerscourt LLP
PIMCO Source ETF offers innovative exposure to emerging economies local government debt markets
September 26, 2011--PIMCO, a leading global investment management firm and
Source, a specialist provider of exchange traded products, have launched the PIMCO Emerging Markets Advantage Local Bond Index Source ETF (“EMLB”). The fund offers high quality, diversified exposure that is representative of the countries driving emerging markets growth. Unlike many existing emerging market (EM) local debt indices, EMLB’s underlying index bases country allocation on national income (GDP) and a country’s capacity
to service its debt.
This results in significant allocation to key global economies, including China and India.
According to Chris Getter, Senior Vice President and Emerging Markets Product Manager at PIMCO, GDP weighting is particularly appropriate for global bond investing: “Unlike traditional debt market capitalisation indices, which reflect past patterns of issuance, PIMCO’s GDP weighting is forward‐looking. It emphasises growing economies with strong fundamentals where there may be new opportunities.”
Many emerging market economies have stronger growth prospects and face fewer concerns about debt sustainability than their developed market counterparts, while at the same time offering higher yields. Additionally, local currency bond markets are now larger and more liquid than external debt markets and offer potential for currency appreciation.
Commenting on the launch, Source CEO Ted Hood said: “An emerging market benchmark without exposure to India or China is no longer a credible proposition. Through our partnership with PIMCO, we can deliver a product that marks a significant improvement on existing benchmarks for EM local debt”.
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Source: PIMCO Source ETFs
ETF industry braces itself for transparency push
September 26, 2011--Top heavyweights from the $1.3 trillion exchange-traded fund (ETF) industry are bracing themselves for a shift in how their fast-growing but relatively opaque products are marketed, distributed and regulated.leading industry and sector ETF offering, which now includes 44 SPDRs with $58 billion in assets.
uring a three-hour hearing in Paris on Monday, executives from ETF providers like BlackRock , Societe Generale unit Lyxor and Natixis unit Ossiam picked apart the European Securities and Markets Authority's (ESMA) recent proposals to make ETFs more transparent and ultimately less risky for investors.
But despite some pushback on details such as how ETFs should be labeled, what information should be disclosed and how their risk levels might be controlled, some executives acknowledged the broad push toward more transparency was inevitable.
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Source: Reuters
Turquoise Derivatives Launches FTSE Index Options - FTSE Index Options Join FTSE Futures On New Platform
FTSE Index Options join FTSE Futures on new platform
New product meets market appetite for choice in derivatives trading
Competitive trading, clearing and market making fees from day one
Three market makers committed to provide liquidity in new products
September 26, 2011--Turquoise announced today that it has introduced FTSE Index Options on to its Turquoise Derivatives platform.
The new products represent the next stage of the platform’s development as it moves towards offering a full suite of competitive pan-European derivatives.
Three market makers have committed to provide liquidity from today, including Citigroup and securities trading firm, Tibra Trading Europe Limited. Turquoise Derivatives is dedicated to providing improved on-screen liquidity with tighter spreads, enhanced order-size availability and a more attractive fee structure.
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Source: Turquoise Global Holdings Limited
Leveraged & inverse: Short-term trading vehicles face criticism
September 23, 2011--Db x-trackers, the second-largest ETF player in Europe, is more at ease with the asset class.
It says it offers leveraged and inverse ETFs, but only to financially sophisticated investors, adding that it refers to the products as “daily leveraged” and
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Source: FT.com
ESMA publishes the responses received to the Discussion paper on ESMA’s policy orientations on guidelines for UCITS Exchange-Traded Funds and Structured UCITS
September 23, 2011--ESMA has published the responses received to the Discussion paper on ESMA’s policy orientations on guidelines for UCITS Exchange-Traded Funds and Structured UCITS.
view responses
Source: ESMA
EU hints at 2014 target for financial transactions tax
September 23, 2011--The European Commission hinted on Friday that it may propose a tax on financial transactions across the European Union that could come into force as soon as 2014, earlier than anticipated.
Asked during a news briefing about a planned introduction of the tax in three years, taxation afffairs spokesman David Boublil said it was a "reasonable estimate" of the preferred date, whereas 2018 had previously been floated as realistic.
The European Union's executive will table legislative proposals in the coming weeks, he said.
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Source: EUbusiness
German bond yield falls to new record low level
September 23, 2011--- The yield on German government bonds, the eurozone benchmark, fell on Friday to a record low level only a day after reaching the previous record.
In afternoon trading, the yield on German 10-year bonds dropped to 1.640 percent and then rose slightly. On Thursday, the yield reached 1.665 percent.
The yield on US benchmark bonds also hit a record low level on Friday of 1.707 percent, also breaking a record set on Thursday.
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Source: EUbusiness
Euro falls to seven-month low against dollar
September 22, 2011-- The euro extended falls against the dollar, dropping to a seven-month low, with sentiment damaged by an ECB study saying fiscal imbalances in the euro zone risked undermining the stability and sustainability of the EMU.
The study also warned states should go into financial receivership if adjustment programmes were not on track.
The euro fell as low as $1.3465, its weakest since late February, with traders saying stop loss orders were triggered on the break below $1.3500.
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Source: Reuters
EURO STOXX 50 Index Voted Most Important Index For Product
September 22, 2011--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced that the EURO STOXX 50 Index has been named “Most Important Index for Product” in the inaugural European SRP Euromoney Structured Retail Products Awards sponsored by www.StructuredRetailProducts.com and Euromoney Magazine. Award winners were chosen based on votes cast by nearly 400 members of Europe’s structured products community.
We first launched the EURO STOXX 50 Index over a decade ago when the euro was first introduced. Our vision then was to create a tool that offers investors exposure to blue-chip companies in the euro zone. Today, it continues to be the leading underlying for financial products, including structured products, exchange-traded funds and derivatives contracts,” said Hartmut Graf, chief executive officer, STOXX Ltd. “Winning this award by Structured Retail Products acknowledges our efforts in providing market participants with reliable, innovative and state-of-the-art indices and challenges us to further develop reliable and thorough index underlyings.”
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Source: STOXX
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