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ESMA coordinates action on short selling in countries where bans are currently in force
August 25, 2011--Acting in close cooperation and under the coordination of ESMA, the European regulators that limited short selling tonight published press statements setting out details of their coordinated action.
view the UPDATE ON MEASURES ADOPTED BY COMPETENT AUTHORITIES ON SHORT SELLING
Source: ESMA
Germany rejects market rumors of ban on short-selling:
August 25, 2011--Germany is not planning a general ban on short-selling a finance ministry spokesman told Reuters on Thursday, reacting to market rumours that the country may enact such regulation, which had sent shares falling.
"We are not planning a general ban on short-selling," the spokesman said.
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Source: Reuters
Regulators recommend more transparency in derivatives market
August 24, 2011--- A commission of international regulators recommended Wednesday that trade in over-the-counter (OTC) derivatives be made more transparent to curb financial market instability.
"The lack of adequate information on OTC derivatives exposures is widely seen as having exacerbated a number of corporate distress situations in the recent crisis, including the demise of Lehman Brothers and the near-default of AIG and Bear Stearns," they said in a report.
The recommendations were written by representatives of the Bank for International Settlements, the International Organization of Securities Commissions and the European Commission, following a request from Group of 20 leaders in Pittsburgh in September 2009.
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Source: EUbusiness
LSE backs BATS merger with Chi-X S&P forecasts jump in CLO defaults read more Short sellers remain calm despite bans read more STOXX Limited to adopt rule changes to enhance index liquidity Under the new fast entry rule for the STOXX regional blue-chip indices, all stocks that rank in the “lower buffer” category of the selection list during the quarterly rebalance will be eligible for fast entry into the respective indices, e.g. top 40 for the EURO STOXX 50 Index. Previously, fast entries were only possible for initial public offering (IPO) companies that ranked among the ”lower buffer” category on the selection list. This improved rule will enable the respective STOXX indices to reflect the market with greater precision, and to accurately represent the performance of the biggest and most liquid stocks in the respective regions. The fast entry rule will become effective immediately. read more STOXX Changes Composition Of Benchmark Indices read more European investors turn to commodity ETFs read more ESMA consults on future rules for alternative investment fund managers and the treatment of third country entities If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
August 24, 2011--The London Stock Exchange, UBS and the Investment Management Association (IMA) are among parties that have told UK antitrust authorities they do not object to the merger of BATS Europe and Chi-X Europe, a deal that could create the largest pan-European share trading platform.
The comments came as the UK Competition Commission canvassed opinion from the market as it investigates the deal, which was agreed in February.
Source: FT.com
August 24, 2011--European leveraged loan defaults could surge in coming years due to the looming expiration and limited new issuance of collateralised loan obligations, which were a vital source of funding before the financial crisis, Standard & Poor’s has predicted.
CLOs – pools of loans used to finance acquisitions – helped fuel the leveraged buy-out boom before credit markets unravelled in 2007.
Source: FT.com
August 23, 2011--Short sellers and securities lenders have remained calm in spite of controversial short selling bans for bank stocks introduced in Europe this month.
Securities lending data show that the amount of stock on loan – used as a proxy for tracking the scale of short positions – has dropped just 0.1 per cent on average since immediately before the 15-day prohibitions on shorting bank stocks were announced by France, Spain, Italy and Belgium.
Source: FT.com
August 23, 2011--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced a series of rule enhancements to its indices in reaction to the increasingly fast moving and volatile markets, as well as to enhance the liquidity of the index baskets.
These measures include the introduction of a fast entry rule for STOXX’s regional blue-chip indices; the adoption of a minimum liquidity rule for its benchmark indices, among them the STOXX Europe 600 Index; and the use of more up-to-date figures in the calculation of STOXX’s regional blue-chip indices.
Source: STOXX
Results Of The Third Regular Quarterly Review To Be Effective On September 19, 2011
August 23, 2011--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the new composition of the STOXX Benchmark and their sub- and sector indices, among them the STOXX Europe 600 Index, STOXX Americas 600 Index and STOXX Asia/Pacific 600 Index, as well as that of the STOXX Europe Football Index and STOXX Europe Private Equity 20 Index.
Effective as of the open of European markets on September 19, 2011, the following stocks will be added to and deleted from the STOXX Europe 600 Index and its respective size and sector indices:
Source: STOXX
August 23, 2011--European investors have been deserting government bond exchange traded funds and heading for the hard assets held in commodity ETFs amid Europe’s ongoing sovereign debt crisis.
As a result, assets held in commodity ETFs (funds and products) have surpassed those held in fixed income ETPs for the first time, according to research by Lyxor.
Source: FT.com
August 23, 2011--ESMA publishes today a consultation paper (ESMA/2011/270) setting out its proposals for the detailed rules on supervision and third country entities underlying the Alternative Investment Fund Managers Directive (AIFMD).
These rules reflect the global nature of the alternative investment management indus-try and the need to put in place a framework for entities outside the EU. Today’s publication, which complements the draft advice published for consultation in July (ESMA/2011/209), is in response to the European Commission’s request for assistance to ESMA’s predecessor, CESR, in December 2010. ESMA has to deliver its final advice to the Commission by 16 November 2011.
