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Swiss & Global Expands in Industrial Metals Funds With Trafigura
June 27, 2013--Swiss & Global Asset Management AG, manager of precious metals exchange-traded products, is expanding into physical industrial metals supplied by Trafigura Beheer BV.
The JB Industrial Metals Funds will hold aluminum, copper, nickel and zinc, according to a company statement e-mailed today. They will start this year, according to Stephan Mueller, product developer of the industrial and precious metals funds. Trafigura will sell the metal, stored by its NEMS unit, a warehouse company approved by the London Metal Exchange, he said by phone today from Zurich.
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Source: Bloomberg
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
June 27, 2013--The most recent issue of the European Weekly ETF Market Review is now available.
The report includes key statistics on the European ETF market as well as global ETF market highlights. For more detailed coverage please refer to the monthly report, issued in the first week following the end of each month.
request report
Source: Deutsche Bank -Synthetic Equity & Index Strategy -Europe
Council sets out its position on transparency rules for investment products
June 26, 2013--The Permanent Representatives Committee agreed today, on behalf of the Council, its
position on a draft regulation aimed at improving market transparency for retail investors (11430/13).
It called on the presidency to start negotiations with the European Parliament with the aim of adopting the regulation at first reading.
The proposal forms part of a legislative package dedicated to strengthening consumer trust in financial markets. It sets out to ensure that retail investors always receive the information they need to take informed decisions.
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Source: Council of the European Union
Eurex Clearing launches next-generation risk management system
New portfolio-based risk system strengthens market safety and efficiency/ Initial coverage of equity derivatives and equity index derivatives
June 26, 2013--Eurex Clearing, Europe's leading clearing house, has launched its next-generation risk management system, Eurex Clearing Prisma, into production.
Eurex Clearing Prisma applies a portfolio methodology compared to traditional product-by-product based margining approaches. In a stepwise approach, the new system will be rolled out for all products cleared by Eurex Clearing and replace the current Risk Based Margining methodology.
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Source: Eurex Clearing
IMF Working paper-Macro-Financial Implications of Corporate (De)Leveraging in the Euro Area Periphery
June 26, 2013--Summary: High corporate indebtedness can pose an important threat to the adjustment processes in some of the Euro area periphery countries, through its drag on investment as well as the possible migration of private sector losses to the sovereign balance sheet.
This paper examines the macroeconomic implications of corporate debt overhang in recent years, confirming empirical evidence in the literature on the relationship between a firm’s balance sheet position and its investment choices, especially beyond certain threshold levels. Building on an event study of past crisis experiences with corporate deleveraging, it also discusses the expected macro-financial impact of the ongoing deleveraging processes in these countries, presenting available policy options to facilitate an orderly balance-sheet adjustment and support a return to productivity and growth.
view IMF Working paper-Macro-Financial Implications of Corporate (De)Leveraging in the Euro Area Periphery
Source: IMF
Basel Committee concludes assessment of Basel III capital regulations in Switzerland
June 25, 2013--The Basel Committee on Banking Supervision has today published a report assessing the regulations that implement the Basel capital framework in Switzerland.
The assessment team evaluated compliance of Switzerland's domestic capital rules vis-à-vis international Basel capital standards through its Regulatory Consistency Assessment Programme (RCAP). The team held technical discussions with senior officials and staff of the Swiss Financial Market Supervisory Authority (FINMA), and met with senior representatives from banks and regulatory audit firms based in Switzerland.
NYSE Euronext announces a new ETF on European markets
June 25, 2013--NYSE Euronext is pleased to announce that Lyxor has listed one new ETF on NYSE Euronext Paris on
25 June, 2013:
ETF Symbol: ES13
Listing date: 25/06/2013
ETF Trading name: LYXETF MTS SPA1-3
Underlying index: MTS Spain Government (1-3yr)
TER: 0.165%
NYSE Euronext now has 671 listings of 582 ETFs listed on its European markets.
Source: NYSE Euronext
ESA Board of Appeal publishes its first decision
June 24, 2013--The joint Board of Appeal of the European Supervisory Authorities (EBA, ESMA and EIOPA) has published today its decision in an appeal brought by an Estonian company against a decision of the EBA.
It concerned the question whether the suitability of the managers of a significant branch of a bank may be a matter within EU law, and not just national law. Allowing the appeal, the Board of Appeal interpreted Directive No. 2006/48/EC consistently with the EBA Guidelines on the assessment of the suitability of members of the management body and key function holders. It came to the conclusion that the “fit and proper” requirement is not restricted to the persons who direct the business of the credit institution. The matter therefore was within the EBA’s powers of investigation.
Although the appellant criticised the way in which the EBA dealt with its complaint, the Board of Appeal made it clear that it did not accept that criticism. It considered that the EBA dealt with the complaint in an appropriate manner.
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Source: ESMA
Deutsche Borse launches new brand architecture for its global IT offering
Introducing "7 Market Technology"/ T7 for trading and C7 for clearing systems/ Proven infrastructure technology available for licensing worldwide
June 24, 2013--Deutsche Börse Group launches a new brand architecture for its global IT offering. The "7 Market Technology" series branding scheme supports the Group's integrated business model and underscores the strategic IT objective to build and operate premium, innovative infrastructure.
"Licensing of our innovative infrastructure technology is one key element of our corporate growth strategy. With this new branding scheme, our IT expertise is reflected in a unique brand proposition. Deutsche Börse IT offers high-quality services throughout all phases of value creation and can contribute to the enhancement of our partners' local market infrastructure," said Hauke Stars, member of the Deutsche Börse AG Executive Board, responsible for IT and Market Data + Services.
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Source: Deutsche Börse
STOXX Global 3D Printing Tradable Index licensed to Unicredit Bank AG
June 24, 2013--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced that the recently launched STOXX Global 3D Printing Tradable Index has been licensed to HypoVereinsbank onemarkets (UniCredit Bank AG) to serve as the basis of an index certificate.
“The STOXX Global 3D Printing Tradable Index is an ideal tool for market participants who wish to participate from the performance of the booming 3D sector, while relying on the transparent and rules-based STOXX index methodology,” said Hartmut Graf, chief executive officer, STOXX Limited. “The index was specifically designed to underlie financial products such as index certificates, which was achieved by adding several screens to its methodology.”
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Source: STOXX
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