Europe ETP News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
NYSE Euronext And Warsaw Stock Exchange Announce Strategic Partnership
Warsaw bourse to acquire state-of-the-art cash and derivatives trading platform provided by NYSE Technologies™ as part of a multi-year business partnership
Aims to strengthen WSE’s position as a regional hub for CEE
Brings the potential to open WSE products to NYSE Euronext’s SFTI connected community
Offers an order routing link to the leading market venue in the CEE region July 12, 2010--NYSE Euronext (NYX) and the Warsaw Stock Exchange (WSE) today announced the establishment of a strategic, long-term cooperation agreement covering the development of future mutually-beneficial business initiatives and the migration of WSE markets to NYSE Technologies™ Universal Trading Platform. Financial terms were not disclosed.
As part of a multi-year commercial agreement, NYSE Euronext will provide WSE with the Universal Trading Platform for its cash and derivative markets. Both parties will explore new trading, market data and business development initiatives serving investors and issuers of a wide range of financial instruments. NYSE Technologies, the commercial technology unit of NYSE Euronext, will deliver the Universal Trading Platform and work with WSE to develop new IT-based opportunities in Poland and the Central and Eastern Europe region. This will build on the distribution capabilities of SFTI™ and further broaden the community of SFTI connected markets.
“NYSE Euronext welcomes this partnership with the Warsaw Stock Exchange, a regional leader that is well positioned for further growth and success, said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. I am thrilled that the WSE has selected NYSE Euronext at this critical point in its international strategy. We look forward to working together on this and other initiatives to benefit our respective markets, customers and stakeholders.”
“The undertaking we are now starting with NYSE Euronext is, without any doubt, one of the most significant moves aimed at developing the WSE further as an international market place, said Ludwik Sobolewski, Chief Executive Officer, Warsaw Stock Exchange. It is a direct consequence of the strategy adopted and implemented by the WSE Board in recent years. We are at the very beginning as regards the strategic partnership, but this beginning comes at a very appropriate moment, complementing other, already much more advanced endeavours. ”
Dominique Cerutti, President and Deputy Chief Executive Officer of NYSE Euronext, said, “Our relationship with WSE goes back many years and we are excited to both further our partnership and to serve such an important role in its future success by applying our technology assets and expertise. WSE’s decision to use the NYSE Euronext Universal Trading Platform enables our partner to take full advantage of our investment in innovative exchange solutions and communications infrastructure.”
Source: NYSE Euronext
New Standard Commodities Gold ETC Launched on Xetra
July 9, 2010-- A further gold ETC issued by the provider Standard Commodities Limited, the ETC platform of the Royal Bank of Scotland, has been tradable on Xetra since Friday.
ETC name: Standard Commodities Goldtracker
Asset class: commodities
ISIN: DE000A1ESY66
Management fee: 0.28 percent
Benchmark: London Gold Market AM fix price
The Standard Commodities Goldtracker is aimed primarily at institutional investors and tracks the performance of the London Gold Market AM fix price in US dollars. It is an exchange-traded bond that is backed by physically deposited gold in accordance with the LBMA standard.
Deutsche Börse’s ETC segment currently comprises 172 products. The monthly trading volume of ETCs on Xetra averages around €550 million.
Source: Deutsche Börse
Increasing demand may lower gold prices, says council official
July 9, 2010--World Gold Council Turkey President Cihan Göksel has said skyrocketing gold prices could drop gradually following an anticipated increase in demand from both domestic and foreign markets.
Speaking to reporters in ?stanbul on Friday, Göksel said that although it is too early to say anything definitive, a price drop can be expected in the long run, triggered by a recovery in demand. “World markets have maintained a steady growth in demand for gold, and such a trend is expected to continue in the months to come,” he said, noting that gold still remains one of the safest investment tools in markets and that such confidence is expected to increase.
read more
Source: Todays Zaman
Head of Issuer and Investor Markets Martin Steinbach leaves Deutsche Börse Group
July 9, 2010--Martin Steinbach (43), since 2000 with Deutsche Börse Group, Head of Issuer and Investor Markets and Executive Director left Deutsche Börse
surprisingly at his own request, to take a new perspective. With Steinbach (holds a Master of Business Administration and a Ph.D.) Deutsche Börse looses an experienced
manager and international expert in the primary market.
We regret Steinbachs decision and would like to thank him for his longstanding
contributions creating and developing a vital primary- and secondary market
for issuers, campaign management towards investors and his engagement for the cash market. We wish him all the best for his future career”, said Frank Gerstenschläger, board member, responsible for XETRA.
Source: Deutsche Börse
German regulator calls for regular stress tests for investment companies
July 9, 2010-- German regulator BaFin has unveiled new guidelines for German investment companies (KAGs) that will force them to conduct regular stress tests.
The new rules governing risk management for investment companies (InvMaRisk) were drawn up after changes to German investment law in 2007 meant the banking code MaRisk no longer applied to KAGs.
Arno Kempf, a partner specialising in financial services at PricewaterhouseCoopers, said implementing a strict risk management system was in everyone's interest, as it affected a KAG's bottom line.
"For example," he said, "the company itself is exposed (indirectly) to any financial risk involved in fiduciary management, as it affects all administration fees and, finally, the company's balance sheet."
read more
Source: IP&E
France, Germany push EU on global bank tax
July 9, 2010--France and Germany want the European Union to keep up the fight for a global bank tax even though the proposal was rejected by the Group of 20, according to a letter released Friday.
The French and German finance ministers wrote to Belgium, which holds the rotating presidency of the European Union, to say that such a global tax was "possible and necessary."
"Even though a consensus has not been found, we are convinced that the European Union must continue to try to create such a tax," wrote Christine Lagarde of France and Wolfgang Schaueble of Germany.
read more
Source: EUbusiness
EU set to cap emission allowances from 2013
July 9, 2010--The European Commission today adopted a decision which determines for the first time a ceiling or 'cap' on the number of emission allowances that will be available under the EU Emissions Trading System (EU ETS) in 2013, the first year of the 2013-2020 trading period.
This has been done in line with the provisions of the revised Emissions Trading Directive, which applies to the 2013-2020 trading period. The cap for the year 2013 has been determined at 1.927 billion (the precise figure is 1,926,876,368). It has been calculated on the basis of a formula which applies a 1.74% annual reduction in allowances below the average yearly total allocated through Member States' national allocation plans in the 2008-2012 trading period. The application of this reduction each year to 2020 and beyond will result in a 21% fall in emissions from the 2005 level by 2020.
read more
Source: EUbusiness
Frequently asked questions regarding Prospectuses: Common positions agreed by CESR Members
11th Updated Version - July 2010
July 8, 2010--INTRODUCTION - The context and status of this ‘Q and A’:
EU Legislation:
The Prospectus Directive 2003/71/EC and the Commission’s Regulation on Prospectuses (EC 809/2004)
became effective on 1 July 2005. The Prospectus Directive and accompanying Regulation establishes a
harmonised format for Prospectus in Europe and allows companies to use this Prospectus to list on all
European markets without having to re-apply for approval from the local regulator and by doing so, it is
intended to help companies avoid the inherent delays and cost that this may involve.
As a result of this new
legislation, consumers can also be assured of more consistent and standardised information which will
enable them to compare more effectively the various securities offers available from a wider number of
European companies.
Level 3 work to provide supervisory convergence in day-to day implementation across the EU and clarity for market participants:
As a result of the Directive and Regulation, the scope for interaction between competent authorities has increased because of the passport and it is therefore essential that supervisors achieve convergence across the EU in their approach to handling the day-to-day implementation of this legislation.
To this end, CESR has developed, at the request of market participants, a number of clarifications which may prove useful to market participants. These are:
- CESR Recommendations (Ref.CESR/05-054b) to provide greater clarity for issuing companies regarding the provision to disclose information on a range of areas and to promote greater transparency in the way in which supervisors will apply the Regulation, without imposing further obligations on issuers. CESR consulted market participants in the development of this and the responses and feedback statement can be accessed on the website under ‘Consultation’ and ‘Standing Committees/Corporate Finance/Prospectus Level 3’.
read more
Source: CESR
BlackRock Names Mike Latham Global Head of iShares
July 9, 2010-- BlackRock Inc. named Mike Latham global head of its iShares exchange-traded fund unit as part of a reorganization that unites U.S. and non-U.S. portions of the business.
Latham, 44, was previously head of North American iShares, the New York-based firm said today in an e-mailed statement. Rory Tobin, 44, head of the international iShares business, decided to leave BlackRock, the company said.
BlackRock acquired iShares Dec. 1 in its $15.2 billion purchase of San Francisco-based Barclays Global Investors from Barclays Plc in London. IShares is the largest provider of ETFs, with $481.2 billion in assets, or 46 percent of the global market, as of May 31, according to BlackRock.
read more
Source: BlackRock
New UK ETF Issuer: RBS launches a new range of Exchange Traded Funds on the London Stock Exchange
July 9, 2010--- New UK ETF Issuer: RBS launches a new range of Exchange Traded Funds on the London Stock Exchange, offering UK investors acess to a range of specialist opportunities in emerging markets and commodity indices. The six products listed are the Market Access DAXglobal BRIC Index Fund; the Market Access DAXglobal Asia Index Fund;
the Market Access NYSE Arca Gold BUGS Index Fund; the Market Access Jim Rogers International Commodity Index Fund and the Market Access RICI-M Index Fund.
Source: London Stock Exchange
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
