Latest news with #DeutscheBoerse
Yahoo
27-05-2025
- Business
- Yahoo
Invesco Launches New Active Global Equity ETF in Europe
Invesco has launched a systematic active ETF aiming to outperform global equities but with similar risk-reward characteristics to the benchmark, according to sister publication ETF Stream. The Invesco Global Enhanced Equity UCITS ETF (IQGA) debuts with a total expense ratio of 0.24% and is listed on Deutsche Boerse, Euronext Milan and the London Stock Exchange. The strategy, run by the Invesco Quantitative Strategies (IQS) team, has been in existence since 2005 and targets 1% outperformance per year versus the MSCI World Index with a tracking error in the 1%-1.5% region. It uses a proprietary model to identify attractive investments within the global large- and mid-cap equity universe before an optimization process finds the optimal trade-off between risk considerations, transaction costs and the portfolio's exposure to value, quality and momentum factors. Erhard Radatz, global head of portfolio management at Invesco Solutions, said, 'Our philosophy is based on an expectation that cheap will outperform expensive, trends will persist for a while and high quality will beat low quality." 'Results since the launch of the strategy 20 years ago seem to support this,' he added. Meanwhile, Gary Buxton (pictured), head of EMEA and APAC ETFs at Invesco, said the new ETF is 'a great example of an active approach that fits seamlessly into our efficient ETF structure." 'An ETF following such a repeatable, systematic process is a natural extension to the rules-based, beta and smart beta ETFs currently available,' he noted. Invesco joins a host of other issuers including HSBC, Schroders, Goldman Sachs and BNP Paribas that have recently or are about to launch low-tracking-error active ETFs. This article was originally published at sister publication ETF | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Deutsche Boerse, Euronext step up battle against IPO flight to US
Two of Europe's major stock exchange operators are stepping up efforts to retain local initial public offerings in the face of U.S. competition, with marketing and research challenging the perception that New York-listed companies fetch higher valuations. Stock exchanges in Europe and the UK have been hit by a drought of IPOs over the past two years and a number of local firms choosing to float or move primary listings to the U.S. for its deeper pools of capital and potentially higher valuations. Deutsche Boerse, which operates the Frankfurt Stock Exchange, is warning of sluggish post-IPO performance, higher costs and the threat of litigation for firms that list in the U.S., according to a document shared with German companies and IPO advisers in recent weeks, and Reuters. It found that about two-thirds of companies that listed in Europe, including Germany, rose on their first day of trading, while only about half of European companies that listed in the U.S. gained on their market debuts. Over time the IPOs from the region also fared better in Europe than in the United States. The data doesn't mention valuation at IPO, but the exchange highlighted in its report several examples of European-listed companies trading at a premium to U.S.-listed peers. Euronext, which operates seven markets in cities including Amsterdam and Paris, is also planning to reissue a similar paper challenging the belief that U.S.-listed firms attract higher valuations than their European peers, its spokesperson told Reuters. "We really see more a competition, if you will, between Europe and the U.S. market in terms of listings, rather than within Europe," Stefan Maassen, head of capital markets and corporates at Deutsche Boerse told Reuters. Exchanges earn fees from companies that list on their platforms and from brokers for trading of securities, and are seen as critical by policymakers to attract investment. DEEPER MARKETS European officials have been looking for ways to deepen the continent's capital markets as the depth and size of U.S. markets are a draw for those eyeing a listing. The SP500 index has a market capitalisation of $49.5 trillion, almost four times that of Europe's Stoxx 600, according to LSEG data based on Monday's closing prices. European officials are also considering new listing rules to improve access to financing. The efforts by Deutsche Boerse and Euronext to curb New York's allure for European firms echo those of the London Stock Exchange which circulated a 'mythbusting' document in March, questioning the perception that U.S.-listed companies attract higher valuations than those in London. Deutsche Boerse also said in its document it found that the share prices of U.S. listed German companies have fallen 13% on average since 2004, naming internet company trivago and retailer Mytheresa which have both fallen since floating, while issuers in Frankfurt saw a 24% rise. Around 130 European companies worth a combined $667 billion opted to either float or move their primary listing to the United States over the past decade, according to research by capital markets think tank, New Financial. However, 70% of those are trading below their listing price with an overall average fall of 9%, according to the think tank. "We need to make our advantages more visible, and not just globally, but finally also on our own doorstep," Deutsche Bank CEO Christian Sewing said on Tuesday in a speech in Berlin, commenting on the relocation of European company listings to the U.S. Deutsche Boerse warned cross-border listed companies face potentially greater risks of lawsuits. To be sure, some market participants argue the risk of litigation gives shareholders paths to redress. Tariff-induced turmoil roiling U.S. markets could also lift the appeal of European markets, exchange executives say. Some market players, like Eva-Maria Wiecko, Head of Equity Market Solutions, Germany and Austria at Rothschild Co, are more sceptical. While the U.S. equity market has seen inflows in recent years, European markets have largely experienced outflows. "The recent re-balancing is only a fraction of these numbers, underscoring the continued relative strength of the U.S. market," Wiecko said.
Reuters
13-05-2025
- Business
- Reuters
Exclusive: Deutsche Boerse, Euronext step up battle against IPO flight to US
LONDON, May 13 (Reuters) - Two of Europe's major stock exchange operators are stepping up efforts to retain local initial public offerings in the face of U.S. competition, with marketing and research challenging the perception that New York-listed companies fetch higher valuations. Stock exchanges in Europe and the UK have been hit by a drought of IPOs over the past two years and a number of local firms choosing to float or move primary listings to the U.S. for its deeper pools of capital and potentially higher valuations. Deutsche Boerse, which operates the Frankfurt Stock Exchange, is warning of sluggish post-IPO performance, higher costs and the threat of litigation for firms that list in the U.S., according to a document shared with German companies and IPO advisers in recent weeks, and Reuters. It found that about two-thirds of companies that listed in Europe, including Germany, rose on their first day of trading, while only about half of European companies that listed in the U.S. gained on their market debuts. Over time the IPOs from the region also fared better in Europe than in the United States. The data doesn't mention valuation at IPO, but the exchange highlighted in its report several examples of European-listed companies trading at a premium to U.S.-listed peers. Euronext, which operates seven markets in cities including Amsterdam and Paris, is also planning to reissue a similar paper challenging the belief that U.S.-listed firms attract higher valuations than their European peers, its spokesperson told Reuters. "We really see more a competition, if you will, between Europe and the U.S. market in terms of listings, rather than within Europe," Stefan Maassen, head of capital markets and corporates at Deutsche Boerse told Reuters. Exchanges earn fees from companies that list on their platforms and from brokers for trading of securities, and are seen as critical by policymakers to attract investment. European officials have been looking for ways to deepen the continent's capital markets as the depth and size of U.S. markets are a draw for those eyeing a listing. The S&P500 index has a market capitalisation of $49.5 trillion, almost four times that of Europe's Stoxx 600, according to LSEG data based on Monday's closing prices. European officials are also considering new listing rules to improve access to financing. The efforts by Deutsche Boerse and Euronext to curb New York's allure for European firms echo those of the London Stock Exchange which circulated a 'mythbusting' document in March, questioning the perception that U.S.-listed companies attract higher valuations than those in London. Deutsche Boerse also said in its document it found that the share prices of U.S. listed German companies have fallen 13% on average since 2004, naming internet company trivago (TVA0y.F), opens new tab and retailer Mytheresa which have both fallen since floating, while issuers in Frankfurt saw a 24% rise. Around 130 European companies worth a combined $667 billion opted to either float or move their primary listing to the United States over the past decade, according to research by capital markets think tank, New Financial. However, 70% of those are trading below their listing price with an overall average fall of 9%, according to the think tank. "We need to make our advantages more visible, and not just globally, but finally also on our own doorstep," Deutsche Bank CEO Christian Sewing said on Tuesday in a speech in Berlin, commenting on the relocation of European company listings to the U.S. Deutsche Boerse warned cross-border listed companies face potentially greater risks of lawsuits. To be sure, some market participants argue the risk of litigation gives shareholders paths to redress. Tariff-induced turmoil roiling U.S. markets could also lift the appeal of European markets, exchange executives say. Some market players, like Eva-Maria Wiecko, Head of Equity Market Solutions, Germany and Austria at Rothschild & Co, are more sceptical. While the U.S. equity market has seen inflows in recent years, European markets have largely experienced outflows. "The recent re-balancing is only a fraction of these numbers, underscoring the continued relative strength of the U.S. market," Wiecko said. ($1 = 0.8950 euros)
Yahoo
13-05-2025
- Business
- Yahoo
Exclusive-Deutsche Boerse, Euronext step up battle against IPO flight to US
By Charlie Conchie LONDON (Reuters) -Two of Europe's major stock exchange operators are stepping up efforts to retain local initial public offerings in the face of U.S. competition, with marketing and research challenging the perception that New York-listed companies fetch higher valuations. Stock exchanges in Europe and the UK have been hit by a drought of IPOs over the past two years and a number of local firms choosing to float or move primary listings to the U.S. for its deeper pools of capital and potentially higher valuations. Deutsche Boerse, which operates the Frankfurt Stock Exchange, is warning of sluggish post-IPO performance, higher costs and the threat of litigation for firms that list in the U.S., according to a document shared with German companies and IPO advisers in recent weeks, and Reuters. It found that about two-thirds of companies that listed in Europe, including Germany, rose on their first day of trading, while only about half of European companies that listed in the U.S. gained on their market debuts. Over time the IPOs from the region also fared better in Europe than in the United States. The data doesn't mention valuation at IPO, but the exchange highlighted in its report several examples of European-listed companies trading at a premium to U.S.-listed peers. Euronext, which operates seven markets in cities including Amsterdam and Paris, is also planning to reissue a similar paper challenging the belief that U.S.-listed firms attract higher valuations than their European peers, its spokesperson told Reuters. "We really see more a competition, if you will, between Europe and the U.S. market in terms of listings, rather than within Europe," Stefan Maassen, head of capital markets and corporates at Deutsche Boerse told Reuters. Exchanges earn fees from companies that list on their platforms and from brokers for trading of securities, and are seen as critical by policymakers to attract investment. DEEPER MARKETS European officials have been looking for ways to deepen the continent's capital markets as the depth and size of U.S. markets are a draw for those eyeing a listing. The S&P500 index has a market capitalisation of $49.5 trillion, almost four times that of Europe's Stoxx 600, according to LSEG data based on Monday's closing prices. European officials are also considering new listing rules to improve access to financing. The efforts by Deutsche Boerse and Euronext to curb New York's allure for European firms echo those of the London Stock Exchange which circulated a 'mythbusting' document in March, questioning the perception that U.S.-listed companies attract higher valuations than those in London. Deutsche Boerse also said in its document it found that the share prices of U.S. listed German companies have fallen 13% on average since 2004, naming internet company trivago and retailer Mytheresa which have both fallen since floating, while issuers in Frankfurt saw a 24% rise. Around 130 European companies worth a combined $667 billion opted to either float or move their primary listing to the United States over the past decade, according to research by capital markets think tank, New Financial. However, 70% of those are trading below their listing price with an overall average fall of 9%, according to the think tank. "We need to make our advantages more visible, and not just globally, but finally also on our own doorstep," Deutsche Bank CEO Christian Sewing said on Tuesday in a speech in Berlin, commenting on the relocation of European company listings to the U.S. Deutsche Boerse warned cross-border listed companies face potentially greater risks of lawsuits. To be sure, some market participants argue the risk of litigation gives shareholders paths to redress. Tariff-induced turmoil roiling U.S. markets could also lift the appeal of European markets, exchange executives say. Some market players, like Eva-Maria Wiecko, Head of Equity Market Solutions, Germany and Austria at Rothschild & Co, are more sceptical. While the U.S. equity market has seen inflows in recent years, European markets have largely experienced outflows. "The recent re-balancing is only a fraction of these numbers, underscoring the continued relative strength of the U.S. market," Wiecko said. ($1 = 0.8950 euros)
Yahoo
29-04-2025
- Business
- Yahoo
Deutsche Boerse Battles for German Retail ETF Flow
German financial services company Deutsche Boerse has launched an improved offering for German retail investors in the hope of seizing ETF flow from regional exchanges, which have proved to be the go-to venues for private investors to date. The new service, introduced in March, seeks price improvements for private investors versus the existing best bid and offer for ETFs on the order book with a new market-making function providing dedicated liquidity for retail. The exchange has also reduced transaction fees for individual investors subject to their bank or broker participating in the service. Additionally, a real-time market data service that provides best bid and offer prices as well as order book depth data has been made available free of charge. "German regional exchanges" have commanded much of the flow arising from booming retail demand for ETFs in Germany to date. As the chart below illustrates, their share of Europe-wide ETF value traded has risen to 14% in April month to date from 8% in January 2024, according to figures from data and analytics firm big xyt. Source: big xyt Included within the classification is Tradegate, an exchange that facilitates much of the volume from neobrokers—the digital platforms who offer the hugely popular ETF savings plans in Germany. Tradegate is 43% owned by Deutsche Boerse. The rise of Germany's regional exchanges has coincided with a falling market share for the London Stock Exchange (LSE) rather than the country's principal bourse. Its share of European ETF value traded has slipped to 22% from 28% over the last 12 months, according to data from big xyt. As ETF Stream reported in November, the LSE has been losing ground to Europe's other leading ETF venues in the last two years. This article was originally published at sister publication ETF | © Copyright 2025 All rights reserved Sign in to access your portfolio
