Europe ETP News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
New UBS AG 2x Leveraged Long Exchange Traded Access Security (E-TRACS) Linked to the Alerian MLP Infrastructure Index to begin trading on NYSE Arca
July 7, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the UBS AG 2x Leveraged Long Exchange Traded Access Security (E-TRACS) Linked to the Alerian MLP Infrastructure Index due July 9, 2040 (NYSE Arca: MLPL). Issued by UBS AG, this Exchange Traded Note is a senior unsecured medium-term note with a two times leveraged return linked to the compounded monthly performance of the Alerian MLP Infrastructure Index (the “Index”), which also pays a variable quarterly coupon linked to the leveraged cash distributions associated with the underlying Index constituents, less financing costs and investor fees.
The Index provides an enhanced liquid subset of master limited partnerships that includes only midstream energy transportation and storage assets, and selects those companies that are infrastructure hard-asset focused. The Index provides diversified exposure specifically to infrastructure investment.
Due to the compounding of monthly returns, returns over periods other than one month will likely differ in amount and possibly direction from the target return for the same period. Investors should frequently monitor their holdings consistent with their strategies. The prospectus describes correlation, leverage and other risks.
Source: NYSE Euronext
MEPs back root-and-branch reform of financial supervision
July 7, 2010--With an overwhelming majority, the European Parliament on Wednesday sent a strong message to EU Member States that the only option for effective financial supervision is one based on a thorough reform of the current system, with the establishment of European authorities capable of taking effective action to avert crises and avoid taxpayer bailouts.
By adopting amendments to the legislation but deferring the final vote on the legislative resolution, the EP has given its negotiators the backing of the full Parliament and has also left the door open for a few more weeks for an agreement to be reached at first reading with the Council after the summer break. In a separate declaration, Parliament's main political groups clearly indicated that the ball is now firmly in the Council's court to come forward with a position acceptable to all sides.
Ready to negotiate ... for a good deal
The declaration states that Parliament is willing to negotiate but is united in its view that the European authorities must be equipped with sufficient powers to prevent future crises and strengthen the single market.
This gesture is a final endeavour on the part of the EP rapporteurs to help the new Belgian Presidency to move the Member States to a more satisfactory position, the declaration adds.
Effective supervisory authorities …
Parliament voted to give a number of powers to the three European supervisory authorities (ESAs) which will be charged with controlling practices in the banking, securities and markets, and insurance sectors respectively.
read more
Source: European Parliment
4 years of ETFs listed on the Spanish stock exchange
Trading in this product has grown by over 140% during this period
July 7, 2010--Today is the fourth anniversary of the start of the Spanish stock exchange’s Traded Funds (ETF) segment. The new segment began on 20 July 2006 with trading in its first ETF, Accion ETF IBEX 35. Over these four years, the performance of ETFs on the Spanish market has been spectacular, with trading rising by 140% from €1.82 billion in the first half of 2006 to over €4.39 billion in the first half of the current year.
With the incorporation of ETFs, BME makes good its goal of contributing to improve the competitiveness of the Spanish securities industry, and cooperating with the financial sector to develop and launch new financial products which meet the demands of issuers and investors.
Investors can access this product, which tracks the performance of indexes and can be bought and sold on the market with high levels of liquidity and transparency. The main feature of an ETF is that its units are traded in real time, just in the same way as any other traded security. It is a product that combines the diversification of a fund - as it is made up of all the shares it tracks – with the flexibility of a share
The volume traded in the ETF segment in June was up 53% on the same month of 2009, standing at €750 million. Meanwhile, the trading volume to the end of June was €4.39 billion, up 188% on the same period a year earlier.
6,762 trades were made in the ETF segment in June, up 83% on the same month in 2009. In the first six months of the year, the number of trades totalled 40,343, up by 85% year on year, and up 342% on the second half of 2006 (between July and December 2006 when 9,129 ETFs transactions were carried out).
Source: BME
Tighter coordination and planning to avoid future banking crises
July 7, 2010--A special system should be set up to ensure that crises are resolved earlier and to avoid rushed, weekend bank bailouts costing the taxpayer hundreds of billions of euros, says the European Parliament in a resolution passed on Wednesday. The growing size, complexity and interconnectedness of banks means that such a system must be established at European level.
In the resolution, drafted by Elisa Ferreira (EPP, PT) and adopted by a show of hands, MEPs urge the European Commission to submit by the end of the year one or more draft laws relating to the management of cross-border crises in the banking sector. In particular they call for an EU crisis-management framework, an EU financial stability fund and a resolution unit within the European Banking Authority to deal with insolvencies of cross-border systemic banks.
"Risks cannot and should not be eliminated from the market but we do require regulation which will make risks more transparent and prevent the emergence of bubbles," said Ms Ferreira in a debate on Tuesday. "It is not our job to prevent banks going bankrupt but it is our job to ensure that the way in which they are liquidated or reorganised is done in an orderly fashion, and also to limit collateral effects elsewhere in the system to ensure that it is not the taxpayer who picks up the tab".
EU crisis management framework
The crisis management framework proposed in the resolution would, in the event of a crisis, preserve financial stability, minimise the cost to taxpayers, preserve basic banking services and protect depositors. It would also encourage banking sector players to act more responsibly.
The proposed framework would provide a common minimum set of rules, foster the convergence of national resolution and insolvency laws, and ultimately establish an EU resolution and insolvency regime. It would grant more crisis management powers to supervisory authorities, including the powers to wind up a bank or impose a total or partial sale. Considerable coordination powers would be vested in the nascent European Banking Authority (EBA).
read more
Source: European Parliment
CESR publishes EFRAG’s draft response on the IASB’s Exposure Draft Conceptual Framework for Financial Reporting: The Reporting Entity
July 7, 2010--The Committee of European Securities Regulators (CESR), through its standing committee on corporate reporting (CESR-Fin), has considered EFRAG’s draft comment letter on the IASB’s Exposure Draft (ED) Conceptual Framework for Financial Reporting: The Reporting Entity.
We thank you for this opportunity to comment on your draft letter and we are pleased to provide you with the following comments.
CESR is supportive of the IASB’s and FASB’s joint initiative to define in the Framework what constitutes a reporting entity as there is no further guidance in current accounting literature.
We particularly welcome the fact that the ED observes that combined financial statements might provide useful information about commonly controlled entities as a group. Current IFRSs do not provide an adequate solution for the practice in several European countries of having entities that are commonly controlled by two different listed entities. We believe that further guidance should be developed at standards level.
read more
Source: CESR
London Stock Exchange Group: 19.8 Million Electronic Equity Trades In June
July 7, 2010--London Stock Exchange Group PLC (LSE.LN), said Wednesday that in June, 19.8 million equity trades were carried out across the Group's electronic order books, with a combined value of GBP172.1 billion.
MAIN FACTS:
-On the Italian equity order book, increased trading activity led to 9% year on year growth in the average daily number of trades, while the average daily value traded was up 42%.
-In London, the total value traded on SETS - covering all equity based order book trading on the Exchange - increased 3% year on year, reaching GBP110.0 billion.
-A number of the Group's other markets recorded good performances in June. On the MTS cash market the total value traded reached GBP175.2 billion, a 23% increase on June 2009.
The average daily value traded on the U.K. equity order book was GBP4.3 billion, a decrease of 1% year on year, while the average daily number of trades was down 3% at 593,569.
The average daily number of trades in Italian equities was 246,665 in June, a 9% increase on the same month last year. The average daily value traded during the month was up 42% at EUR3.4 billion.
The total value traded in international equities increased 32% on June 2009 to GBP15.5 billion, while the total number of trades was 1,274,363, an 11% year on year increase.
Trading in ETFs and ETCs continued to grow, with the average daily number of trades up 45% year on year, reaching 16,420, while the average daily value traded was up 35% to GBP436 million.
A total of 9,588,491 contracts were traded across the Group's derivatives platforms in June 2010, up 24% on last year.
The average daily notional value traded was up 2% at GBP3.8 billion, while the average daily number of contracts traded rose by 16% to 444,031
The average daily value traded on the MTS Cash markets during the month was up 23% year on year at EUR9.6 billion (GBP8.0 billion).
Source: Online News
CEBS’S STATEMENT ON KEY FEATURES OF THE EXTENDED EU-WIDE STRESS TEST
July 7, 2010--Following its statement issued on 18 June 2010, CEBS provides further information on the EU-wide stress test exercise which is now being finalised by CEBS and the national supervisory authorities, in close cooperation with the ECB.
The objective of the extended stress test exercise is to assess the overall resilience of the EU banking sector and the banks’ ability to absorb further possible shocks on credit and market risks, including sovereign risks, and to assess the current dependence on public support measures.
The exercise is being conducted on a bank-by-bank basis using commonly agreed macro-economic scenarios (baseline and adverse) for 2010 and 2011, developed in close cooperation with the ECB and the European Commission.
The macro-economic scenarios include a set of key macro-economic variables (e.g. the evolution of GDP, of unemployment and of the consumer price index), differentiated for EU Member States, the rest of the EEA countries and the US. The exercise also envisages adverse conditions in financial markets and a shock on interest rates to capture an increase in risk premia linked to a deterioration in the EU government bond markets.
read more
Source: Committee of European Banking Supervisors (CEBS)
FESE Statement On Equity Market Data
July 7, 2010--Introductory Remarks:
FESE members operate Regulated Markets (RMs) that offer a transparent and neutral trading infrastructure to trade equities, bonds and derivatives. Exchanges fulfil a valuable function with significant positive externalities. The whole market benefits from the price discovery function offered by
exchanges, including the competitors of exchanges and a full spectrum of users and investors investing
in the EU Market.
The Markets in Financial Instruments Directive (MiFID) has enabled inter?market competition which has
yielded significant benefits for European markets but also resulted in fragmentation of liquidity, making
it difficult to source liquidity and assess execution quality. These challenges can be seen as a natural byproduct of competition, but more attention is needed to resolve the challenges created in the area of
data. High?quality data is provided by RMs, which is made available through many channels and is being
consolidated along with other available data by commercial providers. The underlying problem with
data in Europe is the lack of availability of pre?trade OTC data, and the lack of consistency, granularity
and poor quality of post?trade OTC data. These gaps can be addressed with a combination of MiFID
amendments (to require data reporting where it is not currently required, and to require more granular
and more timely data in other cases) and better mechanisms for monitoring the data reporting. Some of
these improvements are already being considered by European policymakers.
read more
Source: FESE
Results of European bank 'stress tests' July 23: Merkel
July 7, 2010-- The results of "stress tests" to determine the financial health of the European banking sector will be published on July 23, German Chancellor Angela Merkel said Wednesday.
Speaking on rolling news channel N24, Merkel said the tests were "an important signal so that we can have more transparency in the system.
"The results will be published on July 23," she added.
French Finance Minister Christine Lagarde had previously spoken of publication "around July 23."
read more
Source: EUbusiness
AMUNDI IS has listed 2 new ETF on NYSE Euronext’s Paris market today
July 6, 2010--NYSE Euronext is pleased to announce that AMUNDI IS has listed 2 new ETF on NYSE Euronext’s Paris market today:
Listing date:06/07/2010
ETF name:AMUNDI ETF EURO STOXX SMALL CAP
ETF ISIN:FR0010900076
ETF Symbol:ESM
Listing date:06/07/2010
ETF name:AMUNDI ETF DOW JONES EURO STOXX 50 (D)
ETF ISIN:FR0010908251
ETF Symbol:CD5
NYSE Euronext now has 542 listings of 494 ETFs based on more than 300 indices. So far this year, 46 ETFs have been listed on NYSE Euronext’s European markets.
Source: NYSE Euronext
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
