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Eurex to further expand its equity options offering by covering Irish equities
Eleven new Irish equity options with settlement via CREST to be introduced in late April 2011
April 12, 2011--The international derivatives exchange Eurex announced today that it will launch new equity options based on 11 of the most liquid Irish stocks on 26 April 2011. The companies are Bank of Ireland, C&C Group, CRH, DCC, Dragon Oil, Elan Corp, Irish Life & Permanent Group, Kerry Group, Kingspan Group, Ryanair Holdings and Smurfit Kappa Group.
With this launch, Europe’s largest derivatives exchange will offer for the first time Irish equity options with home market settlement. The new equity options will be physically settled in the CREST system of Euroclear UK & Ireland.
“Using the new Irish equity options, our customers will be able to better hedge their exposure to the Irish equity market. Simultaneously, we are offering new trading opportunities as we will completely cover the index constituents of the EURO STOXX 50® Index as well as extending our coverage of the STOXX 600® index components”, said Peter Reitz, member of the Eurex Executive Board. “We will provide our customers with extended cross-margining opportunities as we offer trading of derivatives on all the major European blue-chip stocks on one platform.”
The new options will be denominated in euro. Eurex and Eurex Clearing have been officially recognized by statutory instruments as financial intermediaries in Ireland and will thus be exempted from Irish stamp duty taxation. Additionally, the customer business of all Eurex Clearing members will also automatically be exempted.
The new suite of options will have maturities of up to two years. To support order book trading, a market-making scheme will be offered to ensure order book liquidity. During the first five months of trading, supporting market makers can qualify for a 50 percent revenue sharing program that will last for two years. Trading hours will be from 9:00 am until 17:28 pm CET.
Source: Eurex
FSB publishes note on ETFs
March 12, 2011--The Financial Stability Board (FSB) published on 12 April a note entitled Potential financial stability risks arising from recent trends in exchange-traded funds (ETFs). The FSB is publishing this note as part of its role on monitoring market developments relevant to financial stability and advising on their implications for regulatory policy.
The note highlights recent developments in the ETF market, which has experienced strong growth and rapid innovation. Although most of the ETF market remains plain-vanilla, there has been an increase in product variety and, in some cases, complexity. The note aims at improving understanding of the possible emerging issues for financial stability, and encouraging the financial industry, early in the product cycle, to adapt risk management practices, disclosure and transparency to the pace of innovation in this market.
The FSB welcomes feedback from the public on this note by 16 May 2011.
view the Potential financial stability issues arising from recent trends in Exchange-Traded Funds (ETFs) note
Source: The Financial Stability Board (FSB)
Source launches new EURO STOXX® Optimised Banks ETF
April 12, 2011--In response to significant investor demand, Source today announces the launch of its new EURO STOXX Optimised Banks ETF. The new ETF will complement Source’s 18 existing European optimised sector ETFs, which have already gathered over €1.6 BN in assets and set new standards in liquidity, with over €120 BN in turnover since their launch in June 2009.
The performance dynamics and macro environment surrounding the European banks sector have driven significant price performance and trading activity over the past year. Source has seen this activity reflected in the turnover of its existing STOXX Europe 600 Source Bank ETF, which has traded on average over €2 BN per month since May 2010. However, the relative performance of Eurozone banks, especially Spain, versus other European banks has highlighted a need in the market for a liquid, tradable ETF on the Eurozone banks sector.
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Source: Source ETFs
European Fund Administration appointed by Skandinaviska Enskilda Banken AB for the administration of its new ETF range
April 12, 2011-European Fund Administration S.A. (EFA) is proud to provide Skandinaviska Enskilda Banken AB (SEB) with its fund accounting and transfer agency services for its first ETF products.
The Swedish bank recently entered the ETF business with three products - SpotR, SpotR Bull and SpotR Bear. The investment objectives of the 3 sub-funds are to provide the investors with a return linked to the OMXS30 index, the Swedish market index.
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Source: EFA
HSBC lists four emerging market ETFs
April 12, 2011--HSBC has launched four European ETFs offering exposure to the Indonesian, Korean, Malaysian and Taiwanese equity markets.
The HSBC MSCI Korea ETF lists on the London Stock Exchange today, and follows the launch of the HSBC MSCI Indonesia, HSBC MSCI Malaysia and HSBC MSCI Taiwan ETFs, all of which went live on 30 March. All carry a highly competitive Total Expense Ratio (TER) of just 0.60%. Further registrations and cross-listings across Europe are planned.
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Source: ETF Express
Deutsche Börse's Xetra division and STOXX today announced the introduction of an information portal for sustainable securities, as well as the launch of the STOXX Global ESG Leaders indices.
Largest German information offer for sustainable securities on a central platform / High transparency through use of standardised indicators / New indices facilitate measurement of a company’s sustainable activities
April 11, 2011-Deutsche Börse's Xetra division and STOXX today announced the introduction of an information portal for sustainable securities, as well as the launch of the STOXX Global ESG Leaders indices.
The information portal for sustainable securities is aimed at private and institutional investors. The portal helps investors to make their individual investment decisions according to standard sustainability criteria. The information portal enables investors to develop their own strategies for sustainable investments in a transparent way and to assess the sustainability of existing investments. The portal also enables companies to filter their activities in line with the ESG criteria: environmental, social and governance considerations.
The information portal covers all investment classes, from equities to ETFs, investment funds and certificates. The STOXX Global ESG Leaders index family offers indicators for 1800 European public limited companies, transparently and neutrally, using the well-known ESG criteria. These key sustainability data were provided by Sustainalytics, a leading global provider of ESG research and analysis, with nearly 20 years of experience in the responsible investment (RI) and socially responsible investment (SRI) markets. Investors can use the portal to select and weight these equities according to their personal investment preferences and sustainability criteria.
“The information portal for sustainable securities is a further important step in our efforts to provide transparency on the capital markets, especially in the sustainable investment segment which is seeing increasing demand from private and institutional investors,” said Rainer Riess, Managing Director at Deutsche Börse AG and responsible for the Xetra business unit.
Source: Deutsche Börse
ETF Stat Report March 2011 Borsa Italiana
March 11, 2011--The ETF Stat Report MArch 2011 of the Borsa Italiana is now available.
view report
Source: Borsa Italiana
STOXX Launches Global ESG Leaders Indices in collaboration with sustainalytics
April 11, 2011--STOXX Limited, the market-moving provider of innovative, substantial and global index concepts, today introduced the STOXX Global ESG Leaders Index family, an innovative series of ESG (environmental, social, governance) indices which is based on sustainability data provided by Sustainalytics, a leading global provider of ESG research and analysis, with nearly 20 years of experience in the responsible investment (RI) and socially responsible investment (SRI) markets.
These new equity indices are fully transparent with components selected based on a comprehensive set of sustainability ratings. Based on data provided by Sustainalytics, this index model will, for the first time, allow investors to fully understand which factors determine a company’s ESG rating and their respective importance. The model has been mapped to the “KPIs for ESG 3.0” standard defined by Deutsche Vereinigung für Finanzanalyse und Asset Management (DVFA) and The European Federation of Financial Analysts Societies (EFFAS), and is fully approved by both organizations.
“With the launch of the STOXX Global ESG Leaders indices we are taking another step to bring superior and innovative index concepts to the market. Our new index family will set standards in terms of full transparency and comprehensiveness in the ESG indexing space,” said Hartmut Graf, chief executive officer, STOXX Limited. “Market participants now have the possibility to consider detailed environmental, social, and governance ratings for each index component; and make an educated and conscious decision on their ESG investment.”
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Source: STOXX
Independent Commission on Banking: publication of Interim Report
April 11, 2011--The Independent Commission on Banking published its Interim Report today. The Commission has been asked to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition, and to make recommendations to the Government by September 2011.
The Interim Report sets out the Commission’s current and provisional views on the need for reform and on possible reform options, and it seeks views, evidence and analysis in response. The Commission has not reached final conclusions.
view the Interim Report Consultation on Reform Options
Source: Independent Commission on Banking
Vickers' banking report not enough to reduce risks to us all in global banking
April 11, 2011--The UK, alongside Switzerland, is at the forefront of sensible financial sector reform. Both countries desperately need this.
David Cameron's government should shudder at the realization that Britain's major banks have over £6 trillion of liabilities, four times the size of the UK economy.
UBS and Credit Suisse are five times the size of the Swiss economy. Such sums constitute a time bomb with the potential to create mass financial devastation – just ask Ireland.
The preliminary report from Sir John Vickers's Independent Commission on Banking – a dream team of talents – is due out today, but we already have strong hints of the likely proposals.
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Source: Daily Telegraph
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