|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|
|Basel III monitoring results published by the Basel Committee|
|March 6, 2014--The Basel Committee today published the results of its Basel III monitoring exercise.|
|EBA reports on impact of possible leverage ratio definitions|
|March 5, 2014--The European Banking Authority (EBA) published today a report on the leverage ratio which provides a policy analysis and a quantitative assessment of the impact that would derive from aligning the current Capital Requirements Regulation (CRR) definitions of the leverage ratio's exposure measure to the revised standard published by the Basel Committee on Banking Supervision (BCBS) on 12 January 2014 ('Basel III'). The EBA has produced the report on its own initiative to provide recommendations to the European Commission in view of its forthcoming delegated act on the definitions of leverage ratio.|
|Euronext launches PEA PME family of indices|
|NEW CAC(R)PME INDEX|
MORE INDICES TO BE ADDED IN 2014
March 5, 2014-- Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), welcomes publication of the implementing decree introducing PEA PME savings accounts in France, and today announced the launch of its new CAC(R) PME index.
|Lyxor introduces double short ETFs on Treasuries, gilts and Japanese government bonds|
|March 5, 2014--Lyxor Asset Management, Europe's third largest provider of exchange-traded funds, has extended its fixed income line-up with the launch of double short ETFs linked to the government bonds of the United States, the United Kingdom and Japan.|
|UK Official holdings of international reserves, February 2014|
|March 5, 2014--In summary, this month's release shows that in February 2014: No intervention operations were undertaken.|
|Changes to SDAX and TecDAX|
|Changes are effective on 24 March 2014|
March 5, 2014--On Wednesday Deutsche Börse decided on changes in its selection indices that will become effective 24 March 2014.
|EM capital flight a boon for UK mid-caps, a bane for Japan large-caps|
|March 4, 2014--Summary
Mid-cap equities are shaking off new macro concerns. Following last year's Fed taper talk, this year's capital flight from EM into DM safe havens has reinforced momentum in domestic-focused equity themes.
Underpinned by upbeat growth expectations at home and macro uncertainties abroad, UK- focused growth stories retain their appeal. The FTSE 250 looks set to benefit in this backdrop.
|Boerse Stuttgart generates turnover of more than EUR 8 billion in February|
|Growth in debt instrument trading/Transaction volume up in comparison with February 2013|
March 3, 2014--According to its order book statistics, Boerse Stuttgart generated turnover of more than EUR 8 billion in February 2014. Although the trading volume was down in comparison with January, when trading was particularly strong, it was up more than 4 percent on February 2013.
|Component Change Made in STOXX North America 50 and Eastern Europe 50 Indices|
|March 3, 2014--STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced component changes in the STOXX North America 50 Index due to the fast entry rule.|
|Turnover at Deutsche Boerse's cash markets at 102.6 billion euros in February|
|March 3, 2014--Order book turnover on Xetra, the Frankfurt Stock Exchange and Tradegate stood at €102.6 billion in February (February 2013: €93 billion). Of the €102.6 billion, €93.4 billion were attributable to Xetra (February 2013: €85.2 billion). €4.7 billion were attributable to the Frankfurt Stock Exchange (February 2013: €4.5 billion). Order book turnover on Tradegate Exchange* totalled approximately €4.6 billion in February (February 2013: €3.3 billion).|
|S&P Dow Jones Indices' Market Attributes: Index Dashboard Europe|
|February 28, 2014--Highlights this month include: |
Yesterday saw robust positive data on sentiment from the European Commission: well above-average economic sentiment beat expectations while overall business conditions registered their highest level since July 2011.
|BOOST launches Italy's first 3x ETPs on US equities and First -2x ETCs linked to silver and natural gas|
|February 26, 2014--BOOST launches Italy's first 3x ETPs on US equities and First -2x ETCs linked to silver and natural gas
BOOST lists six new ETCs on Borsa Italiana, making a total of 20 Boost ETPs & ETCs listed in Italy
3x Short and 3x Leverage (S&L) ETPs linked to US equities listed for the first time in Italy
US equity indices cover large cap equities (Russell 1000) and the QQQ (NASDAQ 100)
Boost Natural Gas 3x Leverage Daily ETP (3NGL) rose by 125% in the past 3 months, while Boost NASDAQ 100 3x Leverage Daily ETP (QQQ3) rose by 136% in 2013
|Five new db x-trackers ETFs launched on Xetra|
|ETFs provide access to euro bonds from the euro zone and MSCI AC World
February 26, 2014--Five new db-trackers from the ETF section of Deutsche Asset & Wealth Management have been tradable in the XTF segment on Xetra since Wednesday.
Three of the new bond index ETFs enable investors to participate in the performance of up to 100 euro-denominated corporate bonds issued in the euro zone.
|DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review|
|February 26, 2014--The most recent issue of the European Weekly ETF Market Review is now available.|
|DeAWM's db X-trackers ETFs introduces range of interest rate hedged fixed income ETF share classes|
|February 26, 2014--Deutsche Asset & Wealth Management (DeAWM) has launched a range of interest rate hedged fixed income ETF share classes. The range includes a rates hedged version of its highly successful ETF providing exposure to higher yielding Eurozone sovereign debt, which generated significant inflows in 2013.|
|European Commission Winter 2014 forecast: Recovery gaining ground|
|February 25, 2014--The European Commission's winter forecast foresees a continuation of the economic recovery in most Member States and in the EU as a whole. After exiting recession in spring 2013 and three consecutive quarters of subdued recovery, the outlook is for a moderate step-up in economic growth. Following real GDP growth of 1.5% in the EU and 1.2% in the euro area in 2014, activity is seen accelerating in 2015 to 2.0% in the EU and 1.8% in the euro area.|
|Demand for Short and Leverage ETPs rise as Boost's AUM reaches $209m, up 200% in 4 months|
|Demand for Short and Leverage ETPs rise as Boost's AUM reaches $209m, up 200% in 4 months
February 25, 2014--AUM and trading volumes of BOOST ETPs continue to reach new records
AUM rose by 200% in 4 months and trading volumes rose 2,000% in seven months
The most popular BOOST ETP is Boost Natural Gas 3x Short Daily ETP (3NGS) and with $43m AUM, it is Europe's largest short Natural Gas ETP
|STOXX Changes Composition of Benchmark Indices|
|Results of the first regular quarterly review to be effective on March 24, 2014
February 25, 2014--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the new composition of the STOXX Benchmark and their sub- and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index and STOXX Asia/Pacific 600 Index.
|ESMA launches one-stop shop for EU regulated investment information|
|February 25, 2014--The European Securities and Markets Authority (ESMA) has put in place new consolidated registers (Consolidated Registers) on its website in accordance with Directive 2010/78/EU of 24 November 2010 (Omnibus Directive).|
|Clearstream launches market approach for supporting the internationalisation of the Renminbi currency|
|Renminbi currency has potential to become next major international currency/Clearstream launches Renminbi approach as part of its Asia strategy/Clearstream's Philip Brown: "Our market approach is to bring together partners from across the market to collectively contribute to building a truly international offshore Renminbi market" |
February 24, 2014--Clearstream, the financial market infrastructure already active in Asia since 1990, this week sets out its market approach to developing and delivering solutions to help support the internationalisation of the Renminbi (RMB).
|Amundi on smart beta push|
|February 24, 2014--Amundi plans to roll out a new range of smart beta passive investment solutions after agreeing a strategic partnership with index provider ERI Scientific Beta.|
|Political infighting delays benchmark regulation|
|February 23, 2014--Investor groups have raised concerns that regulations aimed at setting tougher standards for benchmarks such as Euribor and improving investor protection have been delayed by political infighting in Brussels.|
|ESMA sets out CRA supervision focus for 2014|
|January 20, 2014--The European Securities and Markets Authority (ESMA) has published its Annual Report 2013 (Report) on credit rating agencies (CRAs) in the European Union (EU). The Report also outlines ESMA's supervisory work plan for this year|
|ESMA-EBA: Euribor makes significant progress with reforms|
|January 20, 2014--The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have today published the results of their joint review of the Euribor-EBF.|
|Spain: Financial Sector Reform-Final Progress Report|
|February 20, 2014--Summary: Spain's ESM-supported program of financial sector reform aimed to assist economic recovery by promoting financial stability. The program was adopted in mid-2012. At the time, Spain's real-estate bust and the euro-area debt crisis had combined to fuel a vicious cycle of failing banks, unsustainable fiscal deficits, rising borrowing costs, contracting output, rapid job loss, and severe financial market turmoil.|
|State Street Global Exchange Transforms European ETF Market with First Online ETF Trading Platform|
|February 20, 2014--State Street Global Exchange announced today that it has launched the first online multi-sponsor Exchange Traded Fund (ETF) platform for Authorised Participants (AP's) in Europe.|
|MiFID II forces firms to disclose total investment cost to clients|
|February 20, 2014--The passing of the revised Markets in Financial Instruments Directive (MiFID II) into law has made it compulsory for UK investment firms to disclose the total cost of their investments to their clients.|
|According to ETFGI: ETFs and ETPs listed in Europe received net inflows of US$5.4 billion in January 2014|
|February 20, 2014--ETFs and ETPs listed in Europe received net inflows of US$5.4 billion in January 2014, according to findings from ETFGI’s January 2014 Global ETF and ETP industry insights report.|
|The World's First Exchange Platform Taking Card Payments for Digital Currencies Launches|
|February 20, 2014--The world's first exchange platform taking card payments for digital currencies including Bitcoin launches in the UK today.|
|Eurozone business activity robust, slips off highs|
|February 20, 2014--Business activity in the 18-nation eurozone stayed robust in February but slipped off its highs, a reminder that the economic recovery remains fragile, a key survey showed on Thursday.|
|UK gold exports were twice ETF selling in 2013|
|The gap between gold ETF sales and UK exports suggests heavy sales by investors such as hedge funds and wealthy family offices.
February 20, 2014--UK GOLD EXPORTS in 2013 were nearly double the volume of exchange-traded fund liquidation, new research shows.
|Former global equity head exits Amundi|
|February 20, 2015--Amundi's former head of global equities Paul-Georges Moucan has left the firm to pursue other opportunities, Citywire Global can reveal.|
|New db x-trackers equity index ETF launched on Xetra|
|ETF tracks companies with above-average dividends|
February 19, 2014--A new db x-trackers from the ETF section of Deutsche Asset & Wealth Management has been tradable in the XTF segment on Xetra since Wednesday.
ETF name: db x-trackers MSCI North America High Dividend Yield Index UCITs ETF Asset class: equity index ETF
Total expense ratio: 0.39 percent
|Deutsche rolls out range of low-TER non-synthetic ETFs|
|February 19, 2014--Deutsche Asset & Wealth Management has launched a range of physically replicated exchange-traded funds to serve the needs of investors seeking exposure to some of the world’s main indices.|
|Borsa Italiana-ETFstat January 2014|
|February 19, 2014-- New Listing
In January 11 new ETFs and 18 new ETNs were listed on ETFplus market
At the end of January 2014 there were listed 864 instruments (669 ETFs and 195 ETCs/ETNs)
|HM Treasury-Forecasts for the UK economy: February 2014|
|February 19, 2014--Forecasts for the UK economy is a monthly comparison of independent forecasts. This edition contains forecasts to 2018.|
|New SPDR bond index ETF launched on Xetra|
|ETF tracks corporate bonds denominated in pounds sterling|
February 18, 2014--A new exchange-listed bond index fund issued by SPDR (State Street Global Advisors) has been tradable in the XTF segment on Xetra since Tuesday.
ETF name: SPDR Barclays 0-5 Year Sterling Corporate Bond UCITS ETF
Asset class: bond index ETF
|DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review|
|February 18, 2014--The most recent issue of the European Weekly ETF Market Review is now available.|
|ESMA issues Q&A on application of AIFMD|
|January 17, 2014--The European Securities and Markets Authority (ESMA) published today Question and Answers (Q&As) on the Alternative Investment Fund Managers Directive (AIFMD). The purpose of this document is to promote common supervisory approaches and practices in the application of the AIFMD and its implementing measures.|
|Lyxor Appoints Lionel Paquin as CEO|
|February 17, 2014--Lyxor Asset Management has announced the appointment of Lionel Paquin as CEO. He replaces in this position Inès de Dinechin who will leave the Group.|
|Amundi and ERI Scientific Beta announce strategic partnership|
|February 17, 2014--Amundi, a leading European asset manager and provider of exchange-traded funds (ETFs), and ERI Scientific Beta, a smart beta index provider and affiliate of the EDHEC-Risk Institute, have announced a strategic partnership that will combine ERI Scientific Beta's expertise in the design of smart beta indices and Amundi's know-how in index replication and ETF construction.|
|Lyxor dismisses ETF sale speculation as CEO exits|
|February 14, 2014--Lyxor Asset Management has appointed Lionel Paquin as chief executive after another high profile exit revived rumours its exchange traded fund (ETF) business is up for sale.|
|RNS Announcement-Boost Russell ETPs Name Change|
|February 14, 2014--With effect from 24 February 2014, the name of the Boost Russell 1000 3x Short Daily ETP Securities and the Boost Russell 1000 3x Leverage Daily ETP Securities will change as follows: |
Current Name: Boost Russell 1000 3x Short Daily ETP
|Lyxor's diversification is a success|
|February 14, 2014--In releasing its results on 12 February 2014, Societe Generale provided for the first time a few more details on its specialized asset management company, Lyxor Asset Management.|
|EU watchdog calls for common derivatives definition|
|February 14, 2014--The European Union's markets watchdog has asked the bloc for an urgent definition of derivatives, two days after mandatory reporting of the financial contracts began.|
|Euronext Monthly ETF Activity Report|
|February 14, 2014--Listings
In January, there were 4 new ETF listings on Euronext Paris-2 Lyxor ETFs, 1 EasyETF, and 1 Amundi ETF
At the end of January, Euronext's markets counted 658 listings of 568 ETFs from 17 issuers.
Average daily value traded on-book in January of €269.6 million, an increase of 16.3% vs December 2013, and up 18.3% vs January 2013.
|EBA publishes risk dashboard of EU banking sector|
|February 14, 2014--The European Banking Authority (EBA) publishes today the risk dashboard for Q4 2013, summarising the main risks and vulnerabilities in the banking sector in the European Union (EU). The dashboard looks at the evolution of Key Risk Indicators (KRI) from 55 banks across the EU in the third quarter of 2013.|
|ESMA asks Commission to clarify derivative definition under MiFID/ EMIR|
|February 14, 2014--The European Securities and Markets Authority (ESMA) has today sent a letter to the European Commission asking them to clarify the definition of a derivative or derivative contracts under the European Market Infrastructure Regulation (EMIR).|
|OECD Euro area: Economic challenges and policy recommendations report|
|February 14, 2014--OECD has published the OECD Euro area: Economic challenges and policy recommendations report.|
|Big ETF houses plot European expansion|
|February 14, 2014--Three large US exchange traded fund groups, Guggenheim, ProShares and Charles Schwab, are examining how best to enter the European ETF market on the back of a flurry of recent mergers and acquisitions in Europe.|
|Lyxor Asset Management chief exec departs|
|February 14, 2014--Inès de Dinechin has stepped down from her position as chief executive of Lyxor Asset Management, the latest high-profile departure to hit the group.|
|Boost Welcomes UK Treasury Review of the Spread Betting Tax Loophole whilst Spread Betting Market Shrinks by 8% in Stark Contrast to a 15% Global Growth of the Short and Leverage ETP Market|
|February 14, 2014--BOOST welcomes Treasury review of spread betting tax loophole|
BOOST believes spread betting should be subject to tax on gains and off settable for losses which is the case for similar investment products
BOOST believes such a move will position short and leverage Exchange Traded Products (ETPs)favourably when compared to spread betting and Contracts For Differences (CFDs)
|Global AUM for Short & Leveraged ETPs Hits $56bn despite Souring Sentiment on Risk Assets|
|February 13, 2014-The AUM of short & leveraged (S&L) ETPs reached a record of $56 billion at the end of January, up $0.9 billion (or 1.7%) from December, as investors continue to increase their usage of S&L ETPs globally|
|Modification on 2 Amundi ETFs-Borsa Italiana|
|February 13, 2014--Starting from February 17th 2014, the name, the trading code and the benchmark index of 2 Amundi ETFs will change.|
|ESMA consults on Guidelines for issuers performance measures|
|February 13, 2014--The European Securities and Markets Authority (ESMA) has launched a consultation on Guidelines on Alternative Performance Measures (APMs).|
|Russian Financial Markets Regulator Registers New Listing Rules|
|February 13, 2014--On 7 February 2014 the Bank of Russia's Financial Markets Service registered an amended version of Listing Rules for Moscow Exchange.|
|DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review|
|February 12, 2014--The most recent issue of the European Weekly ETF Market Review is now available.|
|Deutsche Borse buys minority stake in Bondcube-The new cutting edge bond|
|February 12, 2014-Deutsche Bõrse AG today announces the purchase of a stake in Bondcube Ltd, the innovative new fixed income trading system for a low sum in the single digit millions (GBP).|
|Fidelity unveils new tracker funds|
|February 12, 2014--Fidelity Worldwide Investments is filling out its range of passive equity funds to offer lower cost portfolio building blocks for IFAs.|
|iShares lists International ETF on Euronext Amsterdam|
|First ETF with an international security settlement structure in continental Europe
February 11, 2014--Today iShares, the exchange-traded funds offering of BlackRock, listed its iShares Euro Stoxx 50 ex-Financials UCITS ETF (EXFN) on the Amsterdam market of Euronext.
|Boost Excessive bullishness in natural gas catches 'cold'|
|February 11, 2014--Summary
Large drawdowns of natural gas inventory caused by US's extreme cold weather have fuelled speculative bullish bets in US natural gas
|ETFs show zeal remains for European stocks|
|February 11, 2014--Global financial jitters this year may have triggered substantial fast money flows out of emerging market and US equities, but such concerns have failed to damp enthusiasm for European stocks|
|ESMA provides further details on trade reporting in updated EMIR Q&A|
|February 11, 2014--The European Securities and Markets Authority (ESMA) has issued today updated Question & Answers (Q&As) on the implementation of the European Markets Infrastructure Regulation (EMIR).|
|Lyxor launches three ETFs for emerging markets|
|February 11, 2014--Lyxor Asset Management has listed three ETFs indexed to emerging markets on NYSE EURONEXT Paris.|
|BlackRock aiming to boost European ETF trading|
|February 11, 2014--BlackRock has launched a new initiative in partnership with Euronext and Euroclear to boost liquidity in Europe's fragmented exchange traded funds market.|
|DB-Synthetic Equity & Index Strategy-Europe-Europe Monthly ETF Market Review - -of 2.5bn euro in January|
|February 10, 2014--Data in this report is as of 31 January 2014.
Global equity markets remained bearish in January due to concerns over emerging markets economies. This impacted the Global ETP assets which reduced by $68.6bn (-3% YTD) and closed the month at $2.2 trillion. European ETP assets reached to $409bn (€304bn) at the end of January.
> Overall cash flows for the global ETP industry were negative recording outflows of -$6.9bn in January. US domiciled ETPs experienced the largest outflows (-$15.2bn), while ETPs in Europe and Asia-Pac regions recorded inflows of +$4.9bn (+€3.6bn) and +$3.4bn respectively.
|Nasdaq OMX will offer anonymous trading in Scandinavia|
|February 10, 2014--Nasdaq OMX Group plans to give market participants the option of trading anonymously on its four exchanges in Scandinavia.|
|EU rules to light up derivatives markets set for shaky start|
|February 10, 2014--New rules coming into force in Europe this week to shine more light on the $700 trillion derivatives markets will take years to produce a clearer picture of these complex products which were at the heart of the financial crisis.|
|Deutsche Bank cuts Europe ETF prices to win institutional business|
|February 10, 2014--Deutsche Bank will cut commissions on four of its biggest European exchange-traded funds, or ETFs, in a move to take market share from rivals such as Vanguard and BlackRock and win over big institutional investors.|
|S&P revises Turkey's outlook to negative|
|February 9, 2014--Turkey's credit outlook was lowered to negative by Standard & Poor's, which pointed to smoldering political turmoil and risks of a hard economic landing casting doubts over the Turkish economy.|
|Amundi launches ETF for US equity fund range|
|February 7, 2014--Amundi Group's ETF division has expanded its US equity fund range and listed an exchange-traded fund on the NYSE Euronext in Paris.|