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Finance ministers strike deal on short selling
May 17, 2011--Ban on ‘naked' short selling can be suspended if liquidity of debt falls below threshold.
EU member states' finance ministers have reached a deal intended to limit and improve the transparency of two trading practices that have been most criticised in the wake of the financial crisis of 2007-08.
Ministers agreed a common approach to rules covering short selling – a practice in which traders sell a security at a high price in the expectation that they will be able to buy it again at a lower price – and on the trade in credit default swaps, a form of insurance that guarantees the creditworthiness of a loan.
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Source: European Voice
ESMA submits its Technical Advice to the Commission on Fees for CRAs
May 17, 2011-- The European Commission (the Commission) sent a formal request to ESMA to provide technical advice to assist the Commission in formulating a Regulation on fees for Credit Rating Agencies (CRAs) by delegated act (please, find in Annex II a copy of the Commission’s formal request).
The advice was due to be delivered to the Commission by 13 May 2011. On 14 April 2011, ESMA released a consultation to receive industry input in order to assist it in providing advice to the European Commission. In order to deliver its advice to the Commission, ESMA considered possible fee structures for CRAs registered or certified in the EU and for CRAs seeking registration or certification. In order to finalise the advice by the due deadline, ESMA decided it was appropriate to conduct a shortened consultation on these possible structures in order to enable it to deliver robust advice to the Commission.
view- Final report-ESMA´s Technical Advice to the Commission on Fees for CRAs
Source: ESMA
Drawing power of the dollar
May 17, 2011--Surprisingly weak US production data added to currency volatility on Tuesday, driving investors to dollar havens and wiping out earlier gains for sterling and the euro.
Sterling had been supported by renewed speculation that the Bank of England would deliver at least one interest rate increase this year as UK inflation continued to surge
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Source: FT.com
Euro area annual inflation up to 2.8%; EU up to 3.2%
May 16, 2011--Euro area1 annual inflation was 2.8% in April 20112, up from 2.7% in March. A year earlier the rate was 1.6%. Monthly inflation was 0.6% in April 2011.
EU3 annual inflation was 3.2% in April 2011, up from 3.1% in March. A year earlier the rate was 2.1%. Monthly inflation was 0.5% in April 2011.
These figures come from Eurostat, the statistical office of the European Union.
Inflation in the EU Member States In April 2011, the lowest annual rates were observed in Ireland (1.5%), the Czech Republic (1.6%) and Sweden (1.8%), and the highest in Romania (8.4%), Estonia (5.4%), Lithuania and Hungary (both 4.4%). Compared with March 2011, annual inflation rose in sixteen Member States, remained stable in two and fell in eight.
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Source: Eurostat
LGIM launches carbon efficient index tracker
May 16, 2011--Legal & General Investment Management (LGIM) has launched a carbon efficient index tracking fund.
Developed by LGIM, it will use a custom index devised by FTSE Group and based on Trucost data.
Targeting pensions investors with an interest in carbon or energy risk, the fund will invest in companies that use approximately 20% less carbon resources than the FTSE average. The British Telecom Pension Scheme (BTPS) contributed development ideas and has indicated that it will invest £100 million in the fund.
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Source: Wealth Manager
ETF Stat Report April 2011 Borsa Italiana
May 16, 2011--The ETF Stat Report April 2011 of the Borsa Italiana is now available.
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Source: Borsa Italiana
New ETFs on NYSE Euronext-HSBC SPBRIC40 ETF
May 16, 2011--NYSE Euronext is pleased to announce that HSBC has listed 1 new ETF on NYSE Euronext’s Paris market today:
ETF name: HSBC SP BRIC 40 ETF
ETF Trading name: HSBC SPBRIC40 ETF
ETF ISIN:IE00B5YLK706
ETF Symbol: BRQ
ETF Reuters RIC: BRQ.PA
ETF Bloomberg Ticker: BRQ FP
Underlying index: SP BRIC 40
TER: 0,60%
PEA: N
Long-Only: SRD
Trading currency: EUR
NYSE Euronext now has 648 listings of 556 ETFs based on more than 360 indices
Source: NYSE Euronext
FSA wants Tougher Insider Trade Penalties
May 16, 2011--A top London regulator has called for tougher sentences for insider dealingto make it easier for the UK to emulate US successes such as last week’s high-profile conviction of Raj Rajaratnam, the founder of the Galleon hedge fund.
Margaret Cole, who has spent the past five years revamping the Financial Services Authority’s enforcement division, has asked the coalition government to increase the maximum sentence for insider dealing from seven to 10 years.
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Source: FT.com
Deutsche Boerse launches DivMSDAX Index
New index tracks highest yielding stocks in the MDAX and SDAX/ Expansion of popular DivDAX concept/ UniCredit Bank AG issues index certificates
May 16, 2011--Deutsche Boerse has launched the DivMSDAX Index, a blue-chip index that measures the performance of the 15 highest dividend-yielding mid- and small-cap stocks traded in Germany.
It is geared toward professional and retail investors seeking long-term, value-based investment strategies. The new index is suited to underlie financial products such as exchange-traded funds (ETFs), structured products and certificates.
UniCredit Bank AG has issued index certificates based on the price and total return versions of the DivMSDAX index. This is the first time that the index will be available to investors in Germany.
„Dividend-based investing is a simple and reliable approach for market participants with a conservative, long-term investment horizon. The DivMSDAX allows these investors to access highly liquid mid- to small-cap stocks that offer stable dividends. As the new index also complements the widely followed DivDAX, the two together can be used to capture the leading value stocks in Germany,“ said Hartmut Graf, chief executive officer, STOXX Ltd. STOXX Ltd. is the marketing agent for the indices of Deutsche Boerse AG and SIX Group AG, including the DAX and SMI indices.
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Source: Deutsche Boerse
Europe at the centre of unlisted infrastructure growth
May 16, 2011--Europe stands to see the most investment capital deployed by infrastructure fund managers, with 47 Europe-focused funds targeting an aggregate $33.3bn (€23.6bn), according to Preqin.
The data analysis company said Europe was widely recognised as the centre of the unlisted infrastructure industry, and its latest report showed the volume of capital earmarked for the continent outstripped the US, Asia and the 'rest of the world' (RoW) markets.
Although greater in number, the 51 funds focused on Asia and RoW were targeting a smaller investment volume of $26.9bn. North America-focused funds, meanwhile, were targeting a combined $30.6bn.
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Source: Preqin
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