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db ETC listet Gold & Silber ETCs mit physischer
September 9, 2010--db ETC, die ETC Plattform der Deutschen Bank, hat mit ihren beiden neuen Wertpapieren db Physical Gold ETC (EUR) und db Physical Silver ETC (EUR) zwei neue Exchange Traded Commodities (ETC) auf Xetra notiert. Die Wertpapiere sind
durch Hinterlegung mit ihrem jeweiligen Edelmetall besichert.
Im Vergleich zu den bereits auf Xetra® notierten physischen Gold und Silber ETCs der Deutschen Bank
weisen die beiden in Euro notierenden Produkte (WKN: A1E0HR u WKN: A1E0HS)
keine Währungssicherung zwischen USD und Euro auf. Die Hauptmerkmale der db
Physical Gold ETC (EUR) und db Physical Silber ETC (EUR):
Anleger profitieren von der Entwicklung der Gold- und Silber-Kassakurse: Die Wertpapiere sind an den jeweiligen Edelmetall-Kassakurs gekoppelt.
Physische Hinterlegung: die Wertpapiere sind durch Hinterlegung der jeweiligen Edelmetallbarren besichert.
Getrenntes Konto: Das zugrunde liegende Metall wird auf separaten Sicherungskonten gehalten.
Keine Geld-/Briefspanne: Für Handelspartner der Deutschen Bank AG ist Direkthandel mit der Deutschen Bank AG möglich, vergleichbar mit dem NAV bei Fonds.
db ETC ist die Plattform der Deutschen Bank für Börsengehandelte Rohstoffprodukte (Exchange Traded Commodities – ETC), die die Wertpapiere (ETCs) begibt und den jeweiligen ausstehenden Wert mit dem jeweiligen Metall in allozierter Form hinterlegt.
Bis zum heutigen Zeitpunkt sind bereits 29 db ETC aufgelegt, die die Entwicklung einzelner Rohstoffe oder definierter Rohstoffkörbe abbilden. „Wir möchten unseren Kunden die größtmögliche Vielfalt im Bereich Rohstoffprodukte bieten. Anleger sollen selber entscheiden können, ob sie mit oder ohne Minimierung des EUR/USD Wechselkursrisikos am jeweiligen Edelmetallpreis partizipieren möchten. Daher bieten wir auf Xetra® ab sofort im Bereich Gold und Silber ETCs sowohl mit als auch ohne Währungsabsicherung an“, sagt Thorsten Michalik, Global Head of ETFs & ETCs der Deutschen Bank.
Für weitere Informationen stehen wir Ihnen gerne zur Verfügung.
Philip Knüppel 069/910 90990
Source: db ETC– Deutsche Bank Exchange Traded Commodities,
Basle III fears temper sentiment
September 9, 2010--European indices advanced,reaching a level last seen in May as fears about the capital positions of banks tempered the mood ahead of the Basel III conference on banking regulation.
Market sentiment was lifted by the weekly US jobless claims data reporting a sharp decline in jobless claims – against market expectations – followed by news that Germany’s Commerzbank, the country’s second-biggest lender which received a significant bail-out during the financial crisis, planned to repay state-aid by 2012.
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Source: FT.com
Borsa Italiana acquires Pro Mac
September 9, 2010-- Borsa Italiana S.p.A., a subsidiary of London Stock Exchange Group, today acquired 94.4 per cent of Pro Mac S.p.A., the company responsible for the promotion of MAC (Mercato Alternativo Del Capitale), for a cash consideration of €5.147 million from 22 existing shareholders of the company, including a number of leading Italian banks and associations. Borsa Italiana will own 99.6 per cent of Pro Mac S.p.A. following the transaction.
MAC is one of the markets dedicated to Italian small and mid-cap companies which is currently managed by Borsa Italiana. The largest Italian banking groups will continue to operate as Sponsors for MAC companies. MAC will maintain its current regulatory framework.
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Source: Borsa Italiana
Two new gold and silver ETCs from DB ETC Index plc launched on Xetra
September 8, 2010--Two new exchange traded commodities issued by DB ETC Index plc, the ETC platform of Deutsche Bank, are tradable on Xetra.
Investors can now invest not only in the available db gold and silver ETCs with currency hedging but also the db gold and silver ETCs without currency hedging (base currency: US dollar). The two new db ETCs are also physically backed by the respective precious metal in allocated form.
ETC name: db Physical Gold ETC (EUR)
Asset class: Commodities
ISIN: DE000A1E0HR8
Total expense ratio: 0.29 percent
Benchmark: Gold spot price (London)
ETC name: db Physical Silver ETC (EUR)
Asset class: Commodities
ISIN: DE000A1E0HS6
Total expense ratio: 0.45 percent
Benchmark: Silver spot price (London)
Deutsche Börse’s ETC segment product range currently comprises 178 instruments. The monthly trading volume of ETCs on Xetra averages around €550 million.
Source: Deutsche Börse
ETF Landscape: STOXX Europe 600 Sector ETF Net Flows, week ending 03-Sep-10
September 8, 2010--Last week saw US$391.5 Mn net inflows to STOXX Europe 600 sector ETFs. The largest sector ETF inflows last week were in Food & Beverage with US$110.2 Mn and Banks with US$101.5 Mn while Construction & Materials experienced net outflows of US$25.6 Mn.
Year-to-date, STOXX Europe 600 sector ETFs have seen US$164.2 Mn net inflows. Media sector ETFs have seen the largest net inflows with US$208.5 Mn, followed by Banks with US$194.4 Mn while Basic Resources has experienced the largest net outflows with US$107.7 Mn YTD.
The US$9.0 Bn AUM invested in the ETFs is greater than the US$4.1 Bn open interest in the sector futures. The ETF AUM is greater than the open interest in each of the corresponding futures contract in all 19 sectors.
to request report
Source: Global ETF Research & Implementation Strategy Team, BlackRock
Deutsche Börse conducts changes to DivDAX index
Changes are effective 20 September 2010
September 8, 2010--On Wednesday, Deutsche Börse announced changes to its DivDAX index. Effective 20 September, three shares are to be included in DivDAX, while three of its present components will leave the index.
The following shares will be included: Volkswagen (pref), Beiersdorf and Merck. The shares of ThyssenKrupp, K+S and MAN will leave the index.
The dividend index comprises the 15 DAX companies with the highest dividend yields.
Source: Deutsche Börse
Fund managers acting more cautiously
September 8, 2010--The latest findings from independent financial research company Defaqto suggest that fund managers are acting more cautiously than 12 months ago because of growing fears of a double-dip recession.
Fraser Donaldson, Defaqto’s Insight Analyst for Funds, said: “The level of confidence and uncertainty
in the market is usually reflected by the cash element in funds.
A year ago we saw these levels falling
to less than 5%, the lowest for several years. There was a confidence that the recession was over and
that the first green shoots of sustained recovery were being seen. However, the levels of cash in July
2010 – almost 2% more than October 2009 – indicate a dip in confidence.”
In July 2010, cash accounted for 6.6% of fund asset allocation. In this period, UK equity exposure also fell to its lowest level for several years – 30.8% – while property and alternative asset classes increased as managers looked further afield to achieve positive returns.
Defaqto’s free guide to multi-managers has been updated and provides IFAs with the investment information they need when selecting multi-manager funds for their clients. It includes an updated statistics section, with both asset allocations and performance-related data as at 1 July 2010. The issues and events that have affected the industry over the past six months are also included.
view guide
Source: Defaqto
London Stock Exchange: New Multi Market Order Routing Service For Exchange Hosting Clients -
QuantHouse service provides access to all major US and European markets from central London location
Complements existing ultra low latency market data feeds
Free One Month Trial
September 8, 2010--The London Stock Exchange today announced that QuantHouse is to offer an ultra low latency order routing service to clients located in the Exchange’s hosting facility. The new order routing service operates on QuantLINK, an ultra fast network, and provides access to all major European and US execution venues.
Quanthouse is offering all LSE hosted clients a free one month trial of the new order routing services, alongside its multiple market data feeds. Both services are available within the Exchange’s central London data centre, strategically located to provide optimal average latency to multiple UK trading venues.
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Source: London Stock Exchange
MEPs: financial regulation on track but this is only the beginning
September 8, 2010--MEPs on Wednesday welcomed the financial supervision package that was endorsed by the Council on Tuesday but insisted this was the first step towards a regulatory system and not the final product. They also commented on the moves to introduce a "European semester", allowing monitoring of national budgetary and economic policies, and held a lively debate on the idea of a financial transaction tax.
Taking the floor for the Council Presidency and the European Commission respectively, Didier Reynders and Michel Barnier briefed the house on the outcome of the ECOFIN meeting and the steps ahead for financial and economic regulation in Europe. They particularly focused on the state-of-play of the discussion on introducing bank levies and a tax on financial transactions.
Financial supervision
Corien Wortmann-Kool (EPP, NL) and Udo Bullmann (S&D, DE) praised the EP rapporteurs for their persistence in the negotiations and congratulated Mr Reynders and Commissioner Barnier on the result.
Sylvie Goulard (ALDE, FR) insisted the new European supervisory authorities should be given the appropriate room for manoeuvre without introducing too many safeguard clauses for European action, as the Council had so insistently attempted to do previously. "It will be important to ensure that the text's occasionally vague wording does not prevent us from going further", she said. Hans-Peter Martin (NI, AT) criticised the package, comparing it with the American system: "Theirs is stronger!", he said.
Economic policy co-ordination - European Semester
Members broadly agreed on the need for further economic and budgetary co-ordination and applauded the introduction of a "European Semester", which would allow the Commission and Council to monitor national budgets and economic policies in parallel during a six-month period every year. The idea emerged from the Task Force on Economic Governance, chaired by European Council President Herman van Rompuy. Miguel Portas (GUE/NGL, PT), however, warned that this system must not undermine the prerogatives of national parliaments: "That would lead to a situation in which Germany is telling Greece what to do. We can't rob the national members of parliaments of their freedom of choice concerning their budget."
view Council of the EU - results of 7 September 2010 meeting
Source: European Parliment
STOXX launches new Risk Control Index
September 8, 2010--STOXX Limited, a global index provider and creator of the leading European equity indices, today announced the launch of the EURO STOXX 50 Risk Control 20% Index. The new index measures the performance of a hypothetical portfolio which aims to control the risk of the underlying EURO STOXX 50 Index. The portfolio consists of an investment into the EURO STOXX 50 Index and the money market (EONIA). In order to achieve risk control, the asset allocation is shifted between the two investments, targeting a risk of 20%.
“The EURO STOXX 50 Risk Control 20% Index is based on an innovative index concept which increases or decreases exposure to assets as volatility falls or rises,” said Hartmut Graf, chief executive officer, STOXX Ltd. “With the launch of this index, we are offering market participants a tool to combine equity investing with risk control, based on Europe’s leading equity index.”
The EURO STOXX 50 Risk Control 20% Index replicates a portfolio that allocates varying investments into the EURO STOXX 50 Net Return Index and into the money market as measured by EONIA. The exposure to the underlying EURO STOXX 50 Index can be adjusted from 0% to 150% in order to meet the targeted risk of 20% for the portfolio. If the expected risk, which is measured by the VSTOXX, steadily exceeds the target risk level, the portfolio’s exposure to the EURO STOXX 50 Index is decreased and that to the EONIA investment increased respectively. If the expected risk falls below the targeted risk level, the portfolio will be adjusted towards the EURO STOXX 50 Index, but only until a maximum exposure of 150% towards the underlying index is reached.
The EURO STOXX 50 Risk Control 20% Index is available in total and excess return version. The excess return index measures the return of the EURO STOXX 50 Risk Control (TR) Index less the EONIA return. The index is calculated in EUR. Daily history is available back to May 18, 1999.
The EURO STOXX 50 Risk Control 20% Index is part of the STOXX Strategy Index family. Further information on the STOXX Strategy Indices is available at www.stoxx.com.
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