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Lyxor and J.P.Morgan team up to launch an innovative range of risk factor ETFs
June 17, 2015--Lyxor ETF, the second largest issuer of ETFs in Europe in terms of inflows year to date, with almost EUR 50 billion in assets under management, is partnering with J.P. Morgan to launch a new range of risk factor ETFs.
This approach reflects Lyxor's commitment to developing Smart Beta ETFs in order to offer investors risk diversification solutions and targeted tools designed to improve a portfolio's long-term performance.
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Source: Lyxor
Credit Agricole, SocGen to List Asset Management JV Amundi
June 17, 2015--French banks Societe Generale SA (GLE.FR) and Credit Agricole SA (ACA.FR) said Wednesday they planned to list their asset management joint venture Amundi.
While Societe Generale could sell all its shares in Amundi, Credit Agricole will retain a majority stake in the French asset management firm, the banks said in a joint statement.
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Source: Morningstar
New ETF Listing on Euronext-PowerShares
June 17, 2015--Euronext is pleased to announce that PowerShares will list 1 new ETF on 19/06/2015:
ISIN: IE00BX8ZXS68
ETF Trading name: PS SP VEQTOR ETF
ETF Symbol: SPVX
Venue: Euronext Paris
Underlying index: S&P 500 Dynamic VEQTOR Index
TER (%): 0,39
Euronext now offers 644 ETFs listed on the European markets.
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SOurce: Euronext
More transparency for securities financing transactions: Council and Parliament agree new rules
June 17, 2015--On 17 June 2015, the Council presidency and the European Parliament reached an agreement on a regulation to improve the transparency of securities lending and repurchase transactions.
The regulation will enhance financial stability by ensuring that information on so-called securities financing transactions is efficiently reported to trade repositories and investors in collective investment undertakings. Improved transparency will prevent banks and other financial intermediaries from attempting to circumvent regulation by shifting parts of their activities to the less-regulated shadow banking sector.
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Source: European Council
Bond Buyers Beware: Bund's premium irrational with Eurozone moving beyond crisis point
June 17, 2015--Too much longevity in ECB' QE program may have been priced into Eurozone's safest long-dated bonds as sub-zero inflation linked bond yields of Germany suggest unrealistic 'crisis like' conditions.
The re-leveraging of banks' balance sheets suggests a departure of government debt hoarding and the return of more risk-taking behavior as bank credit growth put a domestic demand-led recovery on a more solid footing. The bond market in Europe looks increasingly vulnerable to more volatility.
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Source: WisdomTree Blog Europe
Amundi appoints deputy CIO
June 16, 2015--Amundi has announced the appointment of Vincent Mortier as deputy chief investment officer.
He will also become a member of the executive committee.
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Source: investmenteurope.net
EU regulators stick to their guns over broker commission rule
June 16, 2015--Stock market research used by asset managers must be paid for separately and not bundled into broker commission, European Union regulators said on Tuesday in the face of pushback from some lawmakers.
A new EU law governing financial transactions comes into effect in 2017 and the European Commission and the European Securities and Markets Authority (ESMA) are working on how it will be applied in practice.
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Source: Reuters
City's stockbrokers prepare for biggest shake-up in decades
June 15, 2015--As brokers and asset managers gathered for the Extel awards -dubbed the "City Oscars"-last week, one topic took centre stage.
New rules on stockbrokers' commissions are set to usher in one of the biggest industry shake-ups since the Big Bang reforms in 1986.
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Source: FT.com
ESMA launches new strategy and publishes 2014 annual report
June 15, 2015--The European Securities and Markets Authority (ESMA) has published today its strategy for 2016-2020. As ESMA is moving from its formative years to the next phase, a strategic review was conducted to set the new direction and priorities of ESMA within this changing environment.
This strategic review also took into account various external evaluations.
In addition, ESMA published today its annual report for 2014, reporting on the achievements of its third year in existence.
Under its new strategy, ESMA's focus will now shift from rulemaking towards the implementation of rules and ensuring the convergence of supervisory practices. ESMA also expects that new regulatory work may follow from current initiatives such as the Capital Markets Union. In order to streamline its activities, ESMA's new strategy focuses on three key objectives:
1. Investor protection: to have the needs of financial consumers better served and to reinforce their rights while acknowledging their responsibilities;
2. Orderly markets: to promote the integrity, transparency, efficiency, and well-functioning of the EU's financial markets and robust market infrastructures; and
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Source: ESMA
Default dangerously closer after Greece debt talks collapse
June 15, 2015--Default by debt-wracked Greece loomed dangerously closer after last-ditch talks between Athens and its EU-IMF creditors collapsed on Sunday, bringing the threat of a Greek exit from the euro closer than ever.
The crunch negotiations failed in their second day, heaping worry that the cash-starved Greek government was heading irreversibly into a financial abyss with a huge IMF debt payment due at the end of the month.
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Source: EUbusiness
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