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Northern Trust Monthly Funds Market Review: Ireland continues funds growth-New Luxembourg Fund rules-Guernsey planning parallel regulatory regimes
December 3, 2012--This month's highlights include:
Another strong year for Ireland funds industry
New rules for Luxembourg Management Companies and self-managed funds
New reports proposed by US regulator for previously opaque derivatives swaps
Guernsey planning two parallel regulatory regimes for investment funds
Attitudes towards ETFs evolving, claims report
ANORTHERN
TRUST HIGHLIGHTS
Northern Trust has developed a reporting solution to provide a consolidated view of holdings for institutional investors and sovereign wealth funds that have accounts with
multiple custodians, allowing clients to receive intra-day reporting that integrates all
assets.
Fearghal Woods has been named by Northern Trust as Head of EMEA (Europe, Middle East and Africa) Fund Administration Product. In his new role, Woods is responsible for defining and executing the regional product strategy in support of asset managers, including fund accounting, transfer agency, and ETF administration. Business Wire 27 November IRISH FUND HIGHLIGHTS
The Irish Funds Industry Association (IFIA), in partnership with IDA Ireland, the Irish Government’s inward investment agency, has opened a representative office in São
Paulo, Brazil. The IFIA now has representative offices in four locations in the US in
New York, Atlanta, Boston and Chicago; throughout Asia in Shanghai, Singapore,
Tokyo and in Hong Kong with the Hong Kong Chamber of Commerce; in Europe in
Frankfurt and London as well as in Sydney, Australia and now also São Paulo, Brazil.
IFIA 27 November
Independent figures just out from the European Fund and Asset Management
Association (EFAMA) reveal that Ireland secured 45 per cent of the total European market for the first half of 2012 with growth across every asset class. These figures demonstrate another strong year for Ireland which saw the industry reach the
significant milestones of €1 trillion in domiciled assets and €2 trillion in total funds under administration.
IFIA 15 November
view more
Source: Northern Trust
EU and Swiss regulators to co-operate on cross-border supervision of alternative investment funds
December 3, 2012--The European Securities and Markets Authority (ESMA) has approved the co-operation arrangements between the Swiss Financial Market Supervisory Authority FINMA and the EU securities regulators for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds.
ESMA has negotiated the agreement with FINMA on behalf of all 27 EU national competent authorities for securities markets regulation.
The co-operation arrangements include the exchange of information, cross-border on-site visits and mutual assistance in the enforcement of the respective supervisory laws.
read more Moody's cuts AAA rating of ESM rescue fund
For that reason, Moody's also lowered the ESM's rating to Aa1. It cut the ESM's predecessor, the European Financial Stability Facility, to a "provisional" Aa1 from provisional Aaa, for the same reason. view more
NYSE Euronext announces new ETFs on European markets Prague Stock Exchange uses Deutsche Boerse Xetra system
Xetra trading participants can now use the Xetra infrastructure to gain easy access to the Prague financial market. Moreover, 15 new market participants in Prague now have access to a large pan-European trader network. read more
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An initial launch of 20 products is planned in London within weeks.
Source: FT.com
December 1, 2012--Moody's cut the triple-A rating of the European Stability Mechanism rescue fund on Friday by one notch and gave it a negative outlook, citing its earlier downgrade of key ESM backer France.
Moody's said the French downgrade on November 19, a one-step cut also from Aaa, reflects its view that there has been "a marginal diminution" in the likelihood that Paris will keep to its financial obligations, including its commitment to support the ESM.
Source: EUbusiness
November 30, 2012--NYSE Euronext is pleased to announce that Lyxor Asset Management has listed two new ETFs on NYSE Euronext Amsterdam on November 30, 2012:
Listing Date:30/11/2012
Trading Name:Lyxor ETF VIX USD
ISIN:LU0832435621
Symbol:LVX
Benchmark index:S&P 500 VIX Futures Enhanced Roll
TER: 0.60
Listing Date: 30/11/2012
Trading Name: Lyxor ETF VIX EUR USD
ISIN: LU0832435464
Symbol:LVO
Benchmark index: S&P 500 VIX Futures Enhanced Roll
TER: 0.60
Source: NYSE Euronext
November 30, 2012--The Prague Stock Exchange migrated its electronic securities trading to Deutsche Börse's Xetra trading system on 30 November.
The Prague Stock Exchange is being linked to the Xetra network through the Vienna Stock Exchange, which has operated its own cash market with Xetra since 1999. The Vienna Stock Exchange is part of the CEE Stock Exchange Group (CEESEG) together with the exchanges in Budapest, Ljubljana and Prague.
Source: Deutsche Börse
