|DB - Equity Research-Weekly & Monthly European ETF Market Monitors: European ETF industry gets a fresh start in January-continued|
|February 10, 2012--ETF month in perspective|
2012: A fresh start for the European ETF industry
January brought a very strong start to the year for the global (US, Europe and Asia) ETF industry. ETF assets grew by 8.1% over January 2012, a growth rate that surpassed the overall 2011 year growth rate of 3.1%. Global ETF assets reached $1.4 trillion as of the end of January 2011, up from $1.3 trillion at the end of 2011.
|Both the US as well as the European ETF industries grew by 8.2% and 6.5%, reaching asset levels of $1.0 trillion and €221.3 billion respectively. Most of the growth came from rebounding equity markets, however, flows accounted for 2.9% of the growth in the US market and for 1.1% of the growth in the European market (US$ terms). Cash flows for the US market totaled $27.1 billion and €2.4 billion for the European market, for the month of January.
The performance of the European ETF market in the first month of 2012 was sharply different from how it ended the previous year. European ETFs registered outflows of €2.2 billion over December 2011, a decline that was largely driven by equity outflows (€1.8 billion). This situation was reversed in January 2012, with equities contributing €1.5 of net inflows towards the new money that flowed into the European ETF industry.
The January 2012 European ETF industry fresh start was mainly driven by two factors. First, overall market conditions improved somewhat, with the Euro Stoxx 50 delivering gains of 4.3%. Better market conditions helped bring ETF investors out of their shell and allocate money back in the equity market. Second, the European Securities and Markets Authority, ESMA, issued its second consultation on ETFs. ESMA’s publication of its views provided comfort to investors as it gave an indication both about the regulatory body’s future intentions as well as its views with regards to perceived ETF risks.
Overall, the ESMA consultation was deemed to be balanced, avoiding any dramatic changes in the European ETF market, especially those that would put it at odds with how mutual funds operate under UCITS. The consultation provided further evidence that ESMA, through ETFs, which are perceived to be the golden standard in the fund industry, is looking to 'tidy-up' a number of wider fund management industry issues, such as tracking capacity and fund construction, primarily pertaining to total return swaps and securities lending practices .
ETF Industry: The month’s investment trends
The US Market: Flows across the board, from domestic to emerging markets
The US ETF industry registered strong cash flows in the first month of the year totaling $27 billion. Investors favor for risky assets continued in January with equities having the lion’s share in cash inflows ($19.3 billion).
US ETF equity flows were quite diversified, with both domestic as well as emerging markets benefiting. US domestic benchmarked equity ETFs brought inflows of $11.5 billion, while emerging market benchmarked equity ETFs saw inflows of $5.7 billion. Sectors also did well, attracting new money totaling $3.2 billion.
Fixed Income ETFs collected a healthy $7.7 billion in cash inflows; a healthy increase over the $6 billion inflows received in December. Commodity ETVs had a positive month, receiving cash inflows in excess of $1.5 billion which is in sharp contrast to last month’s pattern where commodities registered outflows of $2.7 billion.
For more information about analysis and trends in the US ETF market please refer to our US ETF Market Monthly Review.
The European Market: Emerging Markets main flow growth driver
Equity markets across Europe had a very positive run over the month registering advances across the board: DAX (? 9.5%), CAC (? 4.4%), Euro Stoxx 50 (? 4.3%) and the FTSE 100 Index (? 2.0%). Gold and silver spot prices (US$/oz), also appreciated by 9.8% and 17.6% respectively.
The European ETF industry improved on its poor run in December (outflows of €2.1 billion) and received cash inflows of €2.4 billion in January. Most of the flows went into ETFs tracking equity benchmarks (€1.5 billion) with healthy contributions by other asset classes; Fixed Income ETFs (€412 million), commodities (€331 million) and alternatives (€159 million).
Within equities, emerging markets (EM) benchmarks were back in vogue, collecting cash inflows of €904 million in January. The BRIC countries (Brazil, Russia, India & China) collectively pocketed cash inflows of €365 million while ETFs tracking broad benchmarks like the MSCI EM collected €385 million over the same period. Within ETFs tracking developed markets (DM) benchmarks, a clear divergence was visible: ETFs focused on North American region which includes US & Canada received cash inflows of €672 million while ETFs tracking European benchmarks registered outflows of €663 million. ETFs tracking broader DM benchmarks such as MSCI World received net cash inflows of €107 million over the month of January.
ETFs tracking European sectors registered cash inflows of €171 million in January as compared to outflows of €166 million in the month of December.
Despite the positive equity markets and healthy flows, a hint of bearishness continues to persist as evident from the flows into leveraged and inverse products. ETFs providing inverse and leveraged inverse exposure pocketed inflows of €272 million and €282 million in January respectively. On the other hand ETFs providing leveraged exposure registered cash outflows of €332 million.
Fixed Income ETFs registered cash inflows of €412 million over January as compared to outflows of €404 million in December 2011. ETFs tracking corporate debt issuances and sub-sovereigns collected inflows of €588 million and €117 million respectively. Money market & sovereign ETFs registered outflows of €249 million and €144 million respectively.
Commodity ETPs received cash inflows totaling €498 million in January which is marginally higher than the €198 million received in December 2011. Most of the inflows were into products tracking crude oil (€211 million) and diversified commodity indices (€131 million).
ETP investors approached gold products with caution in January, evident from the inflows totaling €56 million which is significantly lower than the €623 million received in December 2011.
ETF comparatives: Mutual Funds, cash equity turnover
European ETF turnover is 8.0% of the region’s cash equities turnover as of the end of January 2012. The equivalent number for the US market stands at 24.5%.
European ETFs comprised 2.8% of the continent’s mutual fund industry, yet ETF cash flows, €17.7 billion from Jan-Nov 2011, was over 1.4x higher than the corresponding unlisted fund flows (- €44 billion). European unlisted mutual funds registered outflows of close to €138 billion in the months of Aug-Nov 2011. Mutual fund industry data as per the European Fund Management Association (EFAMA).
US ETFs comprised 8.1% of the its mutual fund industry, yet ETF cash flows, $113 billion for 2011, was over 4.7x higher than the corresponding unlisted fund flows ($24 billion). Mutual fund industry data as per the Investment Company Institute (ICI).
|Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank|
|Europe ETP News|
|ESMA agrees to proposed short-selling ban by Greek HCMC|
|June 29, 2015--The European Securities and Markets Authority (ESMA) has issued today its official opinion agreeing to a seven-day emergency short selling prohibition proposed by the Hellenic Capital Market Commission (HMCM) under the Short Selling Regulation.|
|The Irish Stock Exchange (ISE) commences its new online application process for International Security Identification Numbers (ISINs)|
|June 29, 2015--The Irish Stock Exchange (ISE) commences its new online application process for International Security Identification Numbers (ISINs) today through its secure and easy to use online portal www.isedirect.ie.|
|Research reveals planned future use of different types of ETPs|
|June 29, 2015--New research from Source, one of the largest providers of Exchange Traded Products (ETPs) in Europe, reveals that those investing in ETPs on average use three to four different types, and 78% plan to maintain or increase their exposure to these products during 2015.|
|Securities financing transactions: Council confirms agreement with EP on transparency rules|
|June 29, 2015--On 29 June 2015, the Permanent Representatives Committee endorsed, on behalf of the Council, an agreement on improving the transparency of securities lending and repurchase transactions.|
|SIX has entered into negotiations with Deutsche Boerse over the complete sale of the shares it holds in the joint ventures STOXX AG and Indexium AG|
|June 29, 2015--STOXX AG and Indexium AG are operated as joint ventures by SIX and Deutsche Börse AG (DBAG).|
|Record fund listings on London Stock Exchange in first half of 2015|
|June 26, 2015--14 fund IPOs on London's markets in first half of 2015, raising £2.3bn, a 6 per cent increase on last year|
|MNI Russia Business Sentiment Rises to 51.8 in June|
|June 26, 2015--First Rise in Exports since the Introduction of Sanctions|
Easing inflationary pressures, growing order books and improved access to credit all contributed to the more upbeat attitude of large Russian companies in June, providing additional support for our previous assertion that a turning point in the business environment may have been reached.
|EBA presents advice on criteria and capital treatment for securitisation|
|June 26, 2015--The EBA presents its recommendations on a European Union (EU) framework for qualifying securitisations at a public hearing held in London today.|
|New ETF Listing on Euronext-COMMERZBANK|
|June 26, 2015--Euronext is pleased to announce that COMMERZBANK CCBI INVESTMENT FUNDS ICVC will list 2 new ETFs on 30/06/2015 :|
ETF Trading name: CBK CCBI MM CNY
ETF Symbol: CCMR
Venue: Euronext Paris
|New ETF Listing on Euronext-LYXOR|
|June 23, 2015--Euronext is pleased to announce that LYXOR INTERNATIONAL AM will list 1 new ETF on 25/06/2015:|
ETF Trading name: LYXOR FTSE MINV US
ETF Symbol: MVAU
Venue: Euronext Paris
|New ETF Listing on Euronext-First Trust|
|June 23, 2015--Euronext is pleased to announce that First Trust Glob. Funds PLC will list 1 new ETF on 25/06/2015:|
ETF Trading name: FIRST TRUST JAPAN
ETF Symbol: FJP
Venue: Euronext Paris
|ESMA publishes Guidelines on periodic information to be submitted by Credit Rating Agencies|
|June 23, 2015--ESMA today publishes the guidelines on periodic information to be submitted to ESMA by Credit Rating Agencies, in all EU languages.|
|Russia Stuck at Junk as S&P, Moody's Crush Hopes for Upgrade|
|June 23, 2015--Russia will probably be saddled with a junk credit rating for two more years, Standard & Poor's said, joining Moody's Investors Service in dashing expectations by officials for a higher debt grade.|
|Euro area investment fund statistics|
|June 22, 2015--In April 2015, the amount outstanding of shares/units issued by euro area investment funds other than money market funds was €18 billion higher than in March 2015.|
|Five Presidents' Report sets out plan for strengthening Europe's Economic and Monetary Union as of 1 July 2015|
|June 22, 2015--Today, the five Presidents-European Commission President Jean-Claude Juncker, together with the President of the Euro Summit, Donald Tusk, the President of the Eurogroup, Jeroen Dijsselbloem, the President of the European Central Bank, Mario Draghi, and the President of the European Parliament, Martin Schulz-have revealed ambitious plans on how to deepen the Economic and Monetary Union (EMU) as of 1 July 2015 and how to complete it by latest 2025.|
|Amundi names UK institutional head after Wiggins departs|
|June 21, 2015--Head of corporate relationships moves to run UK institutional business at the French|
|PowerShares S&P 500 VEQTOR UCITS ETF launched on Xetra|
|ETF dynamically tracks S&P 500 Index in combination with S&P 500 VIX Short Term Futures
June 19, 2015--A new index fund from the ETF offering issued by PowerShares Global Funds has been tradable on Xetra and Börse Frankfurt since Friday.
ETF name: PowerShares S&P 500 VEQTOR UCITS ETF
Asset class: multi-asset index ETF
|EU agrees rules to curb bank trading risks|
|June 19, 2015--EU finance ministers agreed a draft law to rein in trading risks at banks on Friday, including an exemption for Britain's lenders because they already face similar curbs.|
|Moscovici Says EU Transactions Tax May Come Together Soon|
|June 19, 2015--European efforts to design a financial-transactions tax for 11 willing nations may come together soon, European Union Economic and Tax Commissioner Pierre Moscovici said.|
|LSE Names Former LME Chairman Donald Brydon to Head Its Board|
|June 19, 2015--London Stock Exchange Group Plc named the former London Metal Exchange chairman, Donald Brydon, as the new head of its board, according to a statement on Friday.|
|EBA updates on consumer trends in 2015|
|June 18, 2015--The European Banking Authority (EBA) published today its fourth annual Consumer Trends Report. The report, which covers all the products that fall into the EBA's consumer protection mandate, such as mortgages, personal loans, deposits, payment accounts, payment services and electronic money, highlights the trends the EBA has observed with these products in 2015 and the issues that may arise, or have arisen, for consumers buying them.|
|Unscheduled component changes to SDAX: Ferratum OYJ will replace Westgrund AG|
|June 18, 2015--Deutsche Börse has announced that Westgrund AG will be replaced by Ferratum OYJ in SDAX.|
|Dutch trading firm Flow Traders to list in Amsterdam|
|Owners plan to sell 40 percent stake |
June 18, 2015--The owners of Flow Traders, a Dutch high-frequency trading firm, plan to sell around 40 percent of the business through a listing of its shares on the Euronext stock exchange in Amsterdam, the company said on Thursday.
|S&P says uncertainty in Turkey likely to persist for few months|
|June 18, 2015--Ratings agency Standard & Poor's (S&P) said on Thursday it expected uncertainty to persist in Turkey over the next few months after an inconclusive election and, in the event of snap polls, to intensify by year-end and potentially hinder growth.|
|ESMA asks Commission to delay CSDR technical standards|
|June 18, 2015--The European Securities and Markets Authority (ESMA) has published today a letter informing the European Commission of its intention to delay its draft technical standards (TS) for the Central Securities Depositories Regulation (CSDR) to September 2015|
|New currency ETN from ETFS Foreign Exchange launched on Xetra|
|ETN tracks the exchange rate movements of the euro to the Swiss franc
June 17, 2015--A new exchange traded note (ETN) from the ETFS Foreign Exchange Limited product family has been tradable via Xetra and Börse Frankfurt since Wednesday.
|EU Seeks Transaction Tax as 11 States Meet in Bid to Choose Path|
|June 17, 2015--The 11 European nations seeking a financial-transactions tax will meet Thursday in Luxembourg in a bid to decide how to design the measure, according to European Union officials.|
|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.|
|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.|
|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:|
ETF Trading name: PS SP VEQTOR ETF
ETF Symbol: SPVX
|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.|
|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.|
|Amundi appoints deputy CIO|
|June 16, 2015--Amundi has announced the appointment of Vincent Mortier as deputy chief investment officer.|
|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.|
|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.|
|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.|
|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.|
|Early estimates of CO2 emissions from energy use In 2014, CO2 emissions in the EU estimated to have decreased by 5% compared with 2013|
|June 15, 2015--Eurostat estimates that in 2014 carbon dioxide (CO2) emissions from fossil fuel combustion decreased by 5.0% in the European Union (EU), compared with the previous year.|
|Adocia is Now Integrated into the CAC Mid 60 and SBF 120 Indices|
|June 15, 2015--Adocia announces today that, following the review of the Euronext Paris Stock Exchange Indices on June 5th, 2015, the "Conseil Scientifique des Indices" made the decision to admit Adocia to the list of companies in the CAC Mid 60 and SBF 120 indices ("Société des Bourses Françaises").|
|Bank of Russia Cuts Key Interest Rate to 11.5%|
|Fourth cut so far this year, but more monetary easing is limited by inflationary risks|
June 15, 2015--The Bank of Russia cut interest rates on Monday for the fourth time this year to check Russia's economic contraction,
|UPDATE 1-Deutsche Boerse eyes possible bid for FX platform 360T-source|
|June 15, 2015--Deutsche Böerse is looking at the possibility of buying currency trading platform 360T, a source familiar with the situation said on Monday, although it was not yet clear if the German exchange operator will place a binding bid.|
|Lyxor plans China Government Bond RQFII ETF|
|June 15, 2015--Lyxor announces it has been awarded by S&P Dow Jones Indices (S&P DJI) a license on the S&P China Sovereign Bond 1-10 Year Spread Adjusted Index, in order to launch and list a China Government Bond ETF in Europe.|
|Invesco Powershares launches ETF on LSE|
|June 15, 2015--Invesco PowerShares has announced the listing of the PowerShares S&P 500 Veqtor Ucits ETF on London Stock Exchange.|
|BlackRock wins Transport for London pension mandate|
|June 15, 2015--BlackRock has won a £3.8 billion (€5.2 billion) mandate to manage Transport for London (TfL) pension fund's liability-driven investing (LDI) and passive equity assets.|
|'Closet tracker' funds more than doubled in the UK|
|June 14, 2015--The number of "closet tracker" funds that charge high fees for active management but do little more than mimic a benchmark has more than doubled in the UK over the past 12 months.|
|LSE head: 'abolish stamp duty on listed shares'|
|Xavier Rolet is calling for the government to abolish stamp duty on listed shares to encourage investment|
June 14, 2015--The chief executive of the London Stock Exchange has called on the government to abolish stamp duty on all listed shares ahead of the Summer Budget next month.
|Xetra Dax near correction territory as euro rally continues|
|June 14, 2015--The sustained rebound in the euro took a further toll on some of the currency area's biggest exporters on Thursday, leaving Frankfurt's main equities index within sight of correction territory.|
|Vanguard names new European fixed income chief|
|June 12, 2015--Vanguard is shifting one of its top US fixed income exchange-traded fund managers to run European fixed income, following the departure of Nick Pierce|
|New ETF Listing on Euronext-Lyxor|
|June 12, 2015--Euronext is pleased to announce that LYXOR INTERNATIONAL AM will list 2 new ETFs on 16/06/2015:|
|Fund mergers weigh on State Street's European profits|
|June 12, 2015--US asset manager State Street Global Advisors suffered a 28% drop in profits from its European business last year, partly due to the administrative costs of a tidying up of its exchange-trade funds operation.|
|ESAs consult on margin requirements for non-ce?ntrally cleared derivatives|
|June 10, 2015--The European Supervisory Authorities (ESAs) launched today a second consultation on draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR).|
|EU business confidence in China at new low: survey|
|June 10, 2015-European companies are losing confidence in China's economy, a lobby group survey said on Wednesday' with many firms planning to lay off staff as Beijing struggles to boost growth and embarks in an anti-monopoly drive.|
|World Bank: European Union's and Croatia's Recovery Is Strengthening, albeit Slowly and with Significant Risks|
|To make the recovery sustainable, Europe needs to continue reforms to promote exports and investment, create jobs, and protect the vulnerable
June 10, 2015--Economic growth is expected to continue to pick up across the European Union (EU), from zero in 2013 and 1.3 percent in 2014, to 1.8 percent and 2.0 percent in 2015 and 2016 respectively.
|Borsa Italiana: ETF Stat: May 2015|
|June 10, 2015--New Listing|
18 new instruments were listed on ETFplus market
At the end of May there were listed 975 instruments (684 ETFs, 254 ETCs/ETNs and 37 open-end CIUs)
|Van Eck Global brings Gold Mining ETFs to Switzerland|
|June 10, 2015--June 10, 2015--Van Eck Global Investments Ltd., the Irish Management Company of the Market Vectors UCITS ETFs, today announced the cross-listing of its two gold mining exchange-traded funds (ETFs) on the SIX Swiss Exchange.|
|LSE June 2015 ETF & ETP Monthly Report|
|June 10, 2015--News|
Two new order types (Cross Orders and Block Trade Facility) went live on 11 May.
Swiss Franc (CHF) was introduced as a trading currency for ETFs on 18 May within Trading Service for ETFs Euroclear Bank Settlement.
|Bank Breakup Bill Set for Crunch Talks Among EU Nations|
|June 9, 2015--European Union nations are pushing to reach agreement by the end of the month on a bill intended to tackle too-big-to-fail banks.|
|CP15/18: Fair, reasonable and non-discriminatory access to regulated benchmarks|
|June 9, 2015--In an previous Consultation Paper published in December last year, CP14/32 Bringing additional benchmarks into the regulatory and supervisory regime, the UK's Financial Conduct Authority (FCA) received responses raising concerns about the unconstrained ability of benchmark administrators to set the costs of benchmarks to users.|
|MNI Russia Consumer Sentiment Falls to 72.8 in May|
|Improvement in Outlook for Finances, Inflation and Jobs|
June 9, 2015--The MNI Russia Consumer Sentiment Indicator remained broadly stable at 72.8 in May compared with 73.0 in April.
|Finansinspektionen-Resilience Continues To Be Sound But Measures Required Resilience continues to be sound but measures required|
|June 9, 2015--The Swedish financial system is functioning well and the banks' resilience to disruptions is satisfactory. At the same time, measures are required to reduce the risks linked to household indebtedness.|
|EU to propose lighter capital rules for banks to revive securitised debt|
|June 8, 2015--The European Commission will propose lighter capital requirements on simple pooled debt instruments, in a bid to free banks to use these so-called securitisation products to help raise more funds to finance economic growth.|
|520 European ETFs Rated on TrackInsight|
|June 8, 2015--Koris International, an innovative investment advisory firm, announces today the launch of the TrackInsightTM ratings of the 520 most significant European ETFs.|
|BNP, Eurizon selectors scrutinise active funds|
|June 8, 2015--Two leading European fund selectors are conducting research into the ability of active managers to outperform the market, a move that could have implications for the investment decisions of gatekeepers across Europe.|
|Bond-Market Volatility Triggers Alarms|
|U.K.'s debt agency chief raises prospect that swings could cause investors to balk at buying bonds at auction|
June 8, 2015--Regulators and government officials are becoming increasingly worried about rising volatility in government bond markets.
|EBA publishes final draft standards on assessment methodologies to use Advanced Measurement Approaches for operational risk|
|June 5, 2015--The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS), which specify the criteria that Competent Authorities need to take into account before granting institutions permission to use advanced measurement approaches (AMA) for calculating their capital requirements for operational risk.|
|ESMA issues Q1 risk dashboard for securities markets|
|June 5, 2015--The European Securities and Markets Authority (ESMA) issued today its second Risk Dashboard 2015 for the EU's securities markets, covering the first quarter of 2015 (1Q15).|
|Bank of England should promote alternatives to banks-Kohn|
|June 5, 2015-The Bank of England should make it easier for businesses and households to borrow money safely from capital markets and lenders other than banks, a central bank policymaker said in a speech published on Friday.|
|Europe's Bond Shockwaves Magnified by Liquidity Drain-Analysts|
|June 4, 2015--The sharp selloff in German government bonds is being exacerbated by a liquidity shortage, analysts say, a recurring theme for bond markets lately.|
|Nordea Bank Finland Plc issues Equity Linked Notes-Aktiebevis Europæiske Ejendomsselskaber 2019|
|June 4, 2015--Nordea Bank Finland Plc (the "Issuer") issues a series (A967) of Equity Linked Notes due 21 June 2019, Aktiebevis Europæiske Ejendomsselskaber 2019, denominated in euro ("EUR") with ISIN Code DK0030361977 and Common Code 124122961 (the "Notes").|
|WisdomTree signs up 12 Authorised Participants|
|June 4, 2015--Capital Markets Initiative Underscores Company's Commitment to Best-In-Class ETF Execution|
|IMF allows Greece to bundle June debt payments|
|June 4, 2015--Athens has bought more time to strike a critical aid-for-reforms deal with its bailout lenders after the International Monetary Fund agreed that the cash-starved country can repay debts due in June in one lump sum.|
|UK official holdings of international reserves: May 2015|
|June 3, 2015--This release details movements in the international reserves of gold and assets held by the UK government.|
|ECB says no talk of exiting bond purchase programme yet|
|June 3, 2015--European Central Bank president Mario Draghi said Wednesday that the ECB is a "long way" from considering phasing out its controversial bond purchase programme any time soon.|
|UK watchdog proposes new rules to avoid excessive fees for benchmarks|
|June 3, 2015-Britain's financial watchdog has proposed rules to ensure that widely-followed market benchmarks like Libor interest rates, gold or oil are available to all at a fair price.|
|Zalando SE to be included in MDAX|
|Deutsche Börse reviews index composition/Unscheduled adjustments in SDAX
June 3, 2015--On Wednesday Deutsche Börse decided on changes in its selection indices which will become effective on 22 June 2015.
|Source's new CEO plays down flows slump|
|June 3, 2015--The new chief executive officer of exchange traded fund provider Source has played down a recent slump in European flows, blaming "profit taking" on a handful of products.|
|Northern Trust Monthly Funds Market Review: Switzerland takes top spot for ETF demand|
|UCITS assets reach record €
9 trillion mark|Northern Trust Transfer Agency teams awarded three-star accreditation|
June 2, 2015--HK-China mutual fund recognition to start on 1st July
UCITS assets reach record 9 trillion euro mark
European institutions increase alternatives and passive
|FCA warns against systemic risk label for funds|
|June 2, 2015--The UK markets regulator has given his backing to asset managers fighting proposals that could see them labelled as potential threats to the worldwide financial system.|