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Icap eyes futures after adding PLUS Markets
June 21, 2012--ICAP plans to challenge exchanges NYSE Euronext and Deutsche Boerse by moving into futures trading after it finally completes its controversial purchase of PLUS Stock Exchange on Thursday.
The broker and PLUS Markets Group must complete the deal, which will net PLUS shareholders about 640,000 pounds ($1 million), on Thursday to avoid British watchdog the Financial Services Authority cancelling its exchange license.
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Source: Reuters
NASDAQ OMX Plans to Launch NASDAQ OMX NLX, a New London Based Interest Rate Derivatives Platform
June 21, 2012--New Electronic Trading Platform Will Offer a Comprehensive Suite of European Short-Term and Long-Term Listed Interest Rate Derivatives Products
Platform Aims to Bring Significant Benefits to the Market Through Improved Technology, Competitive Fees and Exceptional Margin Efficiencies Through Trading and Clearing the Full Interest Rate Curve on a Single Platform
NASDAQ OMX (Nasdaq:NDAQ) today announces its intention to launch a new London-based trading venue, NLX, offering a range of both short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro- and sterling-based listed derivative products. NLX aims to enhance the competitive landscape by providing highly competitive execution and clearing fees and significant margin efficiencies. The platform will be launched by Q1 2013, pending Financial Services Authority approval.
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Source: NASDAQ OMX
EU takes key step to provide legal certainty for foreign investors
June 21, 2012--The European Commission today took an important step to protect foreign investors at the EU level, thereby ensuring that Europe continues to be a safe and attractive place for investment by foreign companies.
Today's proposal establishes a legal and financial framework for "investor to state dispute settlement" as part of a broad investment policy which has become an exclusive EU competence under the Lisbon Treaty. It is a further step in the creation of a comprehensive EU investment policy which will allow the EU to negotiate investment protection agreements at the European level. Today's decision will ensure the EU has the right system in place so that international investment rules can be managed effectively in cases disputes arise between foreign investors and the EU and its Member States.
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Source: Europa
iShares DJ Emerging Markets Select Dividend launched on Xetra
ETF focuses on high dividend yields
June 21, 2012--A new exchange-listed equity index fund issued by iShares has been tradable on Xetra since Thursday.
The ETF focuses on companies with headquarters in emerging market countries and a positive dividend yield.
ETF name: iShares Dow Jones Emerging Markets Select Dividend
Asset class: equity index ETF
ISIN: DE000A1JXDN6
Total expense ratio: 0.65 percent
Distribution policy: distributing
Benchmark: Dow Jones Emerging Markets Select Dividend Index
The Dow Jones Emerging Markets Select Dividend Index tracks the performance of companies from emerging market countries with stable dividends. The index only contains companies that have displayed positive earnings per share in the past twelve months and distributed dividends in each of the last three years.
Source: Xetra
DB - Equity Research-Weekly European ETF Market Monitor
June 20, 2012--The most recent issue of the European ETF Market Monitor is now available. The report includes key statistics on the European ETF market as well as global ETF market highlights.
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Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank
Euro area investment fund statistics
June 20, 2012--In April 2012, the amount outstanding of shares/units issued by euro area investment funds other than money
market funds was €.10 billion lower than in March 2012. This decrease was due to a decline in share/unit prices.
The amount outstanding of shares/units issued by euro area investment funds other than money market funds decreased to €6,056 billion in April 2012, from €6,066 billion in March 2012.
Over the same period, the amount outstanding of shares/units issued by euro area money market funds increased to €967 billion, from €951 billion.
Transactions1 in shares/units issued by euro area investment funds other than money market funds amounted to €1 billion in April 2012, while transactions in shares/units issued by money market funds amounted to €10 billion.
The annual growth rate of shares/units issued by euro area investment funds other than money market funds, calculated on the basis of transactions, was 0.7% in April 2012, while the annual growth rate of shares/units issued by euro area money market funds was 2.9%.
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Source: ECB
ESMA launches a consultation on possible delegated acts concerning the Prospectus Directive
June 20, 2012--The purpose of this Consultation Paper (CP) from ESMA is to seek comments on the third part of the technical advice that ESMA proposes to submit to the European Commission on a number of possible delegated acts.
ESMA will consider the feedback it has received in relation to this consultation in the third quarter of 2012 and expects to publish a final report and submission of the technical advice to the European Commission in the fourth quarter of 2012.
Investors fled Europe-linked hedge funds in May-report
Investors withdrew $9.3 bln from European funds
June 20, 2012--Investors cut their exposure to hedge funds that invest in and are located in Europe during May as the euro zone financial crisis wrought havoc on global markets, data showed on Wednesday.
Investors last month withdrew about $9.3 billion from hedge funds located in Europe and pulled $9.1 billion from hedge funds that invest mostly in Europe, hedge fund tracking firm eVestment|HFN found.
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Source: Reuters
Fund managers expect ETF usage to rise
June 19, 2012--The majority of fund managers expect their exposure to exchange traded funds and products to rise, according to independent research carried out for Lyxor, the third largest player in Europe's ETF industry.
More than half (54 per cent) of the 131 UK and Ireland managers surveyed said their exposure to ETFs would increase over the next three years and almost a quarter (23 per cent) anticipated that their exposure to ETFs would grow by 10 per cent or more.
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Source: FT.com
Credit rating agency reform: sovereign debt ratings to be regulated
June 19, 2012--Draft legislation to regulate credit rating agencies and reduce reliance on their ratings was voted in the Economic and Monetary Committee on Tuesday.
MEPs sought to ensure that the legislation injects more responsibility, transparency and independence into credit rating activities, and helps to enhance the quality of ratings issued in the EU, thereby improving protection for users and investors.
"The debt crisis in the Eurozone has shown that credit rating agencies have gained too much influence, to the point of being able to influence the political agenda. In response we have strengthened rules on sovereign debt ratings and conflicts of interest", said Leonardo Domenici (S&D, IT), the MEP steering the reform through Parliament,
Sovereign debt ratings to be regulated
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Source: European Parliament
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