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Brown Brothers Harriman selected by Xact Fonder, wholly owned subsidiary of Svenska Handelsbanken, to service new Luxembourg-regulated ETFs
BBH to provide global custody, accounting, administration and
primary market transfer agency for the new XACT ETFs
November 16, 2010--Brown Brothers Harriman (BBH) and XACT Fonder (XACT), a wholly owned subsidiary of Svenska Handelsbanken (Handelsbanken), announced today that BBH has been selected to provide global custody, accounting, administration and primary market transfer agency for the newly launched XACT ETFs.
The XACT ETF platform is an open-ended collective investment company (SICAV) established under the laws of the Grand-Duchy of Luxembourg with an umbrella structure comprising of different sub-funds and classes.
Each sub-fund is an ETF and is listed for trading on NasdaqOMX Stockholm. Shares of each ETF are bought and sold in the secondary market in the same manner as ordinary shares of a listed trading company.
“BBH enjoys a longstanding relationship with Handelsbanken and we are thrilled to be partnering with XACT to support this important Luxembourg ETF platform,” said Shawn McNinch, Global Head of ETF Services at BBH. “These ETFs represent a close collaboration between BBH and XACT from product inception to successful launch.”
“I am delighted to work together with BBH on our new ETF structure in Luxembourg. This will enable us to maintain our position as the leading Nordic ETF provider,” said Henrik Norén, Managing Director, XACT.
A new regime for the reporting of net short positions in equities to the AMF and the market
November 16, 2010--Amendments to Book II (Issuers and Financial Disclosure) of the AMF General Regulation were approved by the order of 28 October 2010, published in the Journal Officiel dated 6 November 2010.
To fulfil its commitment to promptly implement the recommendations announced by CESR in May 2010, the AMF amended its General Regulation to introduce a comprehensive transparency regime for net short positions in equities traded on a French regulated market (Euronext) or organised multilateral trading
facility (Alternext).
A new article, 223-37, was introduced for this purpose. It has been supplemented by Implementing Instruction 2010-08, published today.
This amendment will take effect on 1 February 2011. The measures taken by the AMF on 19 September 2008 to prohibit short selling of specified financial stocks will no longer apply as from that date.
The new system heralds the forthcoming transparency regime to be implemented in 2012 through the European regulation on short selling.
view Implementing Instruction 2010-08
Deutsche Börse IPO Indicator for the 4th Quarter
November 16, 2010-- Deutsche Börse published the IPO indicator for the 4th quarter of 2010 on Tuesday. At 33.48 points, it remains practically unchanged from the previous two quarters and indicates a more positive scenario for new issues.
Slightly optimistic market participants and rising equity prices continue to be factors that could drive the primary market to recover. However these are offset by impeding factors such as constant volatility and pessimistic issuers.
The IPO indicator, which is published four times a year, is an important measuring instrument for companies seeking capital that aim to go public and that are looking for the right moment to enter the capital market. The indicator is compiled from surveys of market participants and calculations by the Technical University in Munich using Deutsche Börse trading data.
The detailed report and further information can be found via the following link:
http://www.boerse-frankfurt.de/EN/index.aspx?pageID=176
Deutsche Börse Group Increases Attractiveness of Cash Equities Clearing
Fixed clearing fee for Xetra transactions reduced by more than 50 percent/ High-volume cash market participants additionally benefit from increased rebates
November 16, 2010--Eurex Clearing, Europe’s largest clearing house, announced today that it will introduce a revised clearing price model for cash market transactions effective 1 December 2010. The transaction fees will be noticeably reduced compared to the current price model.
This is the result of a 50% reduction in the fixed clearing fee and an expansion of the discount models for Xetra transactions. On average, Frankfurt Stock Exchange (FWB) participants will benefit from around 11 percent lower total clearing costs based on Q3/2010 volumes. Moreover, clearing fees for transactions on the Irish Stock Exchange will also be reduced by 40 percent.
„With the new pricing model, we are positioning ourselves for further growth in the European cash equity clearing business and are stimulating trading on the cash markets cleared by Eurex Clearing,” said Frank Gerstenschläger, Deutsche Börse AG Executive Board member responsible for the Xetra cash market segment.
London Stock Exchange Group Strengthens Business Development Team
November 15, 2010--London Stock Exchange Group today announced Audrey Faveeuw has been appointed as Business Development Manager in the Exchange’s Business Development Team which covers the Group’s equity and derivatives markets.
Audrey will be responsible for strengthening the Group’s existing client relationships, whilst also growing its business from the electronic liquidity provider community. She will report to Pinar Emirdag, Head of Professional Business Development.
Deutsche Bank unveils emerging markets ETFs in UK
November 15, 2010--
Deutsche Bank has listed four db x-trackers ETFs on the London Stock Exchange (LSE), providing exposure to single countries in the emerging markets.
The latest launch offers funds tracking the MSCI China, MSCI India, MSCI Malaysia and MSCI Thailand total return equity indices.
All four ETFs target companies with a market capitalisation within the top 85% of the domestic market's investable equity universe.
