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Common Reporting Standard (CRS)

The Common Reporting Standard (CRS), calls on countries to obtain information from their financial institutions and exchange that information with other countries automatically on an annual basis. The CRS sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.

Euro Pacific Bank and its subsidiaries have the obligation to comply with the Organization for Economic Co-operation and Development (OECD) Common Reporting Standard (CRS).

To whom is the information reported:

For accounts held by Euro Pacific Securities, Inc. (Global Trading), the required information will be reported to Financial Services Commission (FSC) of the British Virgin Islands.
For accounts held by Euro Pacific Intl. Bank Inc., there is no reporting since the United States and Puerto Rico are non-participating jurisdictions.

When will reporting take place and for what timeframe:

For accounts held by Euro Pacific Securities, Inc. (Global Trading), the information will be reported for the first time in May 2018 for new accounts opened in the period of November 20th to December 30th 2017

For further information on the Common Reporting Standard you may access the OECD informative website at http://www.oecd.org/tax/automatic-exchange/common-reporting-standard

November 2017 New Products & Platform Updates

Platform Updates

Product Updates

New Ethereum tracker ETN now available

After getting exposure to Bitcoin, clients can now also get access to trade the Ethereum ETNs listed on Nasdaq OMX Stock Exchange. As previously announced, two Bitcoin Tracker ETNs listed on the same exchange are also offered.

Please note, a subscrition to the Nasdaq OMX Stock Exchange to acqire access to the ETNs.

Please note there is inherent risk involved in trading ETNs, including credit, liquidity, and market risks involved in trading these products.

Product Enhancements

New Chart Annotation Tool – Linear Regression Lines

Linear Regression Lines is a new statistical chart annotation tool which tries to predict future values from past values and is a straight line that best fits the prices between a starting price point and an ending price point.

A “best fit” means that a line is constructed where there is the least amount of space between the price points and the actual Linear Regression Line.

Traders use the Linear Regression Lines to try to determine a trend direction regarded as the fair value. If the price for an instrument is below a Linear Regression Line for some time, it could be an indication of a trend change and this could be considered a buy signal. Similarly, if the price is above the Linear Regression Line it could be considered a sell signal.

It can be difficult to identify how far below or above the line a price should move from the Linear Regression Line before it is a good buy or sell signal. For more objective indicators, extra lines can be added parallel to the Linear Regression Channel – we have added extra lines by default at ±1 and ±2 Standard Deviations. You can remove these outer lines in the configuration settings for the annotation.

The following EURUSD chart shows a Linear Regression Channel with the lines extended (shown as dashed lines).

We have indicated a few areas on the chart where it might be a good signal to buy or sell i.e. when the price crosses the outer 2 Standard Deviations line from the Linear Regression.

In the configuration settings for each Linear Regression Line you can delete or add lines, extend them as well as the usual configuration such as colors, line type and calculation details.

Improved user experience to remove all annotations and studies on an instrument

Existing annotations and studies on an instrument can now be removed all at once, making it easier for traders to start a new analysis on the same instrument.

A new Remove all Indicators button will be available from 4 November 2017 in the Indicator drop down menu which will remove all annotations and studies on the current instrument.

Similarly, a Remove all studies is available in the Studies menu to remove all studies on the instrument (both overlay and sub-panels studies are removed).

Upgrade to GTS Pro mandatory from 1 December 2017 – Reminder

The recent upgrade to GTS Pro becomes mandatory from 1 December 2017. Because the upgrade cannot be installed on Windows XP and Windows Vista, it will no longer be possible to use the platform on these operating systems by 1 December.

Operational Changes

Market Data Changes

General market data subscription fees changes as of 1 January 2018

The following exchanges and data providers will change their subscription fees for market data access from 1 January 2018.

Stock Exchanges:			Private		Professional
	Level	Currency	Current Price	New Price	Current Price	New Price
Euronext Stock Exchange	Level 1	EUR	1.00	1.25	63.00	68.00
Euronext Stock Exchange	Level 2	EUR	1.00	1.50	91.00	95.00
Euronext Stock Indices	Level 1	EUR	1.00	1.25
Futures Exchanges:			Private		Professional
Euronext Commodities Derivatives	Level 2	EUR	12.00	15.00	12.00	15.00
Euronext Equity & Index Derivatives	Level 1	EUR	1.00	1.25
Euronext Equity & Index Derivatives	Level 2	EUR	32.00	34.00	32.00	34.00
OPRA Data	Level 1	USD			30.50	31.50

Euro Pacific Advisors’ Portfolio Commentary: Q3 2017

euro pacific advisors fund manager portfolio commentary

Below is a quarterly update of Euro Pacific Bank’s mutual fund and separately managed account positioning, related market commentary, and outlook.

Market Overview

Despite rising geopolitical risks, notably in North Korea, equity markets edged higher over the quarter. Fixed interest markets remained pressured as central banks signaled an easing of stimulus measures and guided towards higher interest rates. The pound strengthened against the dollar and yen, but marginally underperformed the euro.

As monetary support is withdrawn and interest rates move back to more normal levels, there is likely to be a degree of uncertainty in global markets. However, we note that this is likely to be a slow and gradual process and unlikely to cause major disruption. Question marks remain over the implementation of Brexit and with sterling having recovered to a 12 month high relative to the dollar we have begun removing some sterling hedges. Additionally, there are rising political risks in Europe, notably Spain and Germany. Despite these issues, robust, albeit unspectacular, global growth and solid earnings are likely to support valuations in the short term.

United States

Investors remained broadly positive about economic prospects as the US Federal Reserve finally announced an end to its Quantitative Easing program. By not reinvesting maturing bonds, it will gradually reduce its holdings in Treasuries and continue to move interest rates back to more normal levels over time.

Our targeted US exposure consisting of SPDR S&P Dividend ETF and Vanguard Russell 2000 ETF rose, outperforming the broader S&P 500 index.

Europe

The European Central Bank hinted that it would start to taper its own bond buying program and the Bank of England adopted a more hawkish attitude, suggesting that it would raise interest rates for the first time in a decade as soon as the fourth quarter of 2017. Investors were emboldened by this coordinated policy action from central banks in the belief that the global economy has now moved to a more secure position and requires less monetary support.

United Kingdom

With a rise of 2.8% on the quarter, our overweight exposure to the more domestically focused FTSE 250 Index again outperformed the FTSE 100 which was held back by sterling strength, rising only 0.8%. Geopolitical concerns peaked in September and we took the opportunity to reduce our tactical short exposure to the FTSE100.

Emerging Markets

Overseas returns were again offset by currency movements and we benefited by currency hedging some of our overseas exposure to equities as well as fixed income.

Fixed Income

Yields moved slightly higher (and therefore values lower) in both the US and the UK over the quarter as investors weighed up the potential for higher interest rates. However, the yield curve continued to flatten as shorter-dated yields moved higher than longer dated ones. The High Yield sector again outperformed with a gain of 1.5% on the quarter and is now starting to look fully-valued relative to both investment grade issues and emerging market debt.

Regards,

Euro Pacific Advisors Management Team

FAQs Related to Client Notice on Change of Jurisdiction

AS OF OCT 20TH 2017

NOTICE OF CHANGE OF JURISDICTION

Please review the Notice published here before reviewing the FAQ below.

How will the move affect my account or use of the Bank?

The move will not affect your account, your online banking access, or any other aspect of the use of your account.

The only change will be that we have added a new office in Puerto Rico with additional staff.

Is this a new Bank? Will the old Bank be dissolved?

No, it is the same legal entity, licensed in Puerto Rico instead of St. Vincent and the Grenadines.

When will the move take effect?

The move will take effect on November 20th 2017.

Is there any change to my wiring instructions?

There will be no change to your wiring instructions. Our existing BIC, EPBLVCVC, will continue to function into the foreseeable future. We have also obtained a new BIC, EUPNPRSJ, which we will begin to use over the coming weeks and months.

Are there any new forms, laws or regulations I have to comply with?

There are no additional laws or paperwork that customers need to complete, or comply with as a result of the move.

What are my obligations under CRS and FATCA in Puerto Rico?

Customers of Euro Pacific Bank in Puerto Rico will no longer be subject to reporting requirements under the new international Common Reporting Standards (CRS) legislation, which is set to take effect in St. Vincent and the Grenadines next year, as Puerto Rico is a US territory, and the United States has not signed on to implement this Standard.

As in St. Vincent and the Grenadines, FATCA compliance is still mandatory in Puerto Rico. For more information on the Bank’s FATCA compliance program please read here.

As always, customers are strongly encouraged to consult their local tax advisor for any information about their tax obligations internationally. Euro Pacific Bank does not provide tax advice.

The Bank is “redomiciling”, what does this mean?

Euro Pacific Bank is redomiciling the legal entity to Puerto Rico. The process of redomiciling the Bank involved receiving approval from the Puerto Rican regulatory authorities for the Company to continue business into the jurisdiction and be recognized there as a Bank. As part of this process the legal name of the Bank is now changing to Euro Pacific Intl. Bank Inc., but will continue to use the trade name Euro Pacific Bank.

Additionally, the Bank will no longer be regulated in St. Vincent and the Grenadines by the Financial Services Authority. Instead, the Office of the Commissioner of Financial Institutions (OCIF) in Puerto Rico will be the Bank’s primary regulator.

The option to redomicile the Bank was chosen due to the fact that the entity is not dissolved or discontinued, instead all of the Bank’s assets, customers and operating history will simply continue into the new jurisdiction.

How will Puerto Rico’s government debt and financial problems affect my funds?

Your funds are not exposed to the Puerto Rico debt situation, or at risk due to financial difficulties in the region.
As was the case in St. Vincent and the Grenadines, your deposits are not held with local domestic banks, and thus are not subject to any of the bail-in or seizure provisions within the country. Instead, funds are held in correspondent institutions around the world.

Furthermore, the Bank does not invest client funds. In fact, we will continue to maintain our full-reserve policy of non-lending and zero proprietary trading.

Being legally domiciled in Puerto Rico will provide us with many benefits – clearing USD directly, reduced costs and paperwork – while continuing to offer a conservative and internationally-accessible online bank.

Since Puerto Rico is Spanish speaking, will this impact any banking products or services?

The Bank will continue to conduct all operations in English, with secondary support for other languages remaining in place. English and Spanish are both official languages in Puerto Rico.

Do new clients need to visit Euro Pacific Bank in Puerto Rico to open a bank account?

Euro Pacific Bank will maintain the same account opening procedures, which do not require onsite client visits. All accounts can be opened remotely through electronic transmission of the necessary documentation and information. For more information on our account opening process you can review it here.

Can Euro Pacific Bank now accept US companies and/or persons?

Euro Pacific Bank will continue its current policy of not accepting any US corporations or US persons as clients.

Will the bank change contact phone numbers and/or hours of operation?

Hours of operation will remain the same as Puerto Rico and St. Vincent and the Grenadines operate on the same time zone. The Bank has one new additional phone number, which is +1-787-280-9766. All other phone numbers and contact details will remain the same.

Will my bank account be protected by the FDIC?

As a non-domestic financial institution, we will not be participating in FDIC at this time. We continue to maintain the utmost conservative banking policies as possible, which includes zero lending and zero proprietary trading of bank funds.

How will natural disasters, like hurricanes, affect the bank if it’s based in Puerto Rico?

Although we are located in Puerto Rico, as an online bank we have built redundant offices and hired staff around the world to ensure bank operations will continue during natural disasters.

Note also that your assets are not physically located in Puerto Rico – instead held in correspondent institutions and custodians around the world, whether cash, shares, or precious metals.

In the most recent case of Hurricane’s Irma and Maria, which significantly impacted banking operations throughout the Caribbean, Euro Pacific Bank experienced no downtime despite some physical damage to various offices.

New Account Section Coming to GTS

brokerage

Portfolio Overview

P/L and Cash Movements Tools

New Portfolio Overview

New Navigation

Historic Reports

Deposit and Transfer

Other Account Functions

Portfolio Overview

The new Performance Overview offers a dashboard showing your Account Performance, percentage returns and changes in cash value of the account (or all accounts) for the selected period

Account Summary

The Account Summary includes the:

Account Value at the start and end of the selected period and the Change in Account Value
P/L related to trading activities (trade P/L, costs, financing, corporate actions etc.)
Non-trading related bookings such as cash and security Transferred (interest, exchange subscriptions, exchange rate movements, etc.)

Account Value chart

The development of your account value over the selected period including cash and security transfers and everything booked on the account.

Instrument P/L

The Instrument P/L tab gives access to P/L breakdown for the selected account(s) and period.

P/L figures In the Instrument P/L section include:

Realized gains and losses (positions closed in the period)
Unrealized gains and losses (positions still open at the end of the period
All trading costs associated with a position such as holding costs, financing charges, rollovers, corporate actions, coupons, etc.

P/L Bar Chart

The P/L bar chart shows the net P/Ls for each product traded in the period.

Click on a bar to show the P/L breakdown for individual instruments traded in the period.

Top 3 Gainers and Losers

Top 3 Gainers and Losers show the 3 instruments with the greatest gain and loss in the selected period.

Cumulative P/L chart

The Cumulative P/L chart shows the development of the P/L on the account(s).

Monthly Return table

The monthly returns table shows the P/L by month since the account was opened.

Returns

Returns gives access to % returns for the selected account(s) and period:

%Return Chart

The % Return chart shows the development as the time-weighted percentage performance over the period excluding cash and security transfers.

Winning % Indicators

The percentage of days in the period where your account had a profit/loss.
The percentage of closed trades in the period with a profit/loss.

Statistics

Account statistics for the selected period.

Monthly % returns table

The monthly returns table shows the % returns by month since the account was opened.

Cash

The cash panel shows the development of the cash balance for the selected account(s) and period.

Cash Balance Chart

The % Return chart shows the development in the end-of-day cash balance over the period including cash and security transfers.

Cash Balance Summary

The Cash Balance Summary includes the:

Cash Balance at the start and end of the selected period and the Total Cash Movements in the period
Realized P/L from positions closed in the period (trade P/L, costs, financing, corporate actions etc.)
Cash Transfers and Other bookings from non-trading related bookings such as cash and security Transferred (interest, exchange subscriptions, exchange rate movements, etc.)

Cash Movements Bar Chart

The Cash Movements bar chart shows the net cash movement for each product traded, cash transfers and other booking types in the period.

P/L and Cash Movements Tools

P/L Analysis tools allows you to analyze P/L, associated costs and bookings down to the instrument level in detail. Analyze P/L by trading product, specific instruments or sectors, charting the cumulative P/L graphically or itemizing all transactions associated with product or instrument.

Profit/Loss

Profit/Loss allows you to analyze and show the cumulative Profit and Loss through trading an instrument, product or sector in a selected period.

For a selected period and account (or all accounts) you can analyze P/L by:

Asset Type to analyze P/L by product (FX, CFD, Stocks, Futures etc.) and drill down to the instruments traded within a product
Instrument to see the cumulative P/L development from trading a specific instrument
Sector (where sector information is available) showing P/L by instruments traded within each sector
Custom grouping P/L by any combination of Asset Type (product), month, year, sector, and instrument), for example, to show P/L by instrument, grouped by month traded (closed)

Cash Movements

Cash Movements allows you to analyze all bookings on your account (cash movements) associated with trading in a product or a particular instrument.

For a selected period and account (or all accounts) you can analyze bookings by:

Asset Type to analyze bookings by product (FX, CFD, Stocks, Futures etc.) to drill-down to bookings for each the instruments traded within a product
Instrument to see bookings for a trades in a specific instrument
Sector (where sector information is available), showing bookings by industry. This also allow you to drill-down to the instruments traded within each sector
Custom groupings showing bookings by any combination of Asset Type (product), month, year, sector, and instrument to show for example, bookings grouped by month traded (closed) for example

Closed Positions

For a selected period, Closed Positions shows positions that have been closed and booked on your account (or all accounts).

You can filter the Closed Positions by asset type (product) to limit the results shown.

New Portfolio Overview

The Portfolio Overview gives an overview of current net holdings on an account(s) and gives access to a historic view of the portfolio.

Allocation

The Portfolio Overview shows the following:

exposure to each instrument and product (in the currency of the instrument)
% allocation of the instrument of the holdings in that asset class (product)
% allocation of the instrument of the total portfolio

Current Account Values

The Portfolio Overview also gives shows the current cash available, value of positions and account value, and shows the % days change on the account.

Historic View

You can see how your portfolio looked historically at the end of any day using the date selector showing the account values, holdings and allocations at the end of selected.

New Navigation

The new Account Section introduces horizontal navigation aligned with the rest of the GTS platform. The simplified navigation reduces the number of Account Sections and maximizes the available space for reports.

Historic Reports

Historic Reports have been reorganized into tiles giving a better overview and description of the report.

Deposit and Transfer

Transferring funds and withdrawing funds to and from your account, security transfers have also been organized into convenient tiles in the Deposit and Transfers section of the Account Section.

Other Account Functions

Trading Conditions, Subscriptions, Activity log, Contact Support Upcoming Margin and Collateral Changes, Mifid Status, Corporate action events have been moved under the Other menu and re-organized as tiles with a description of the service.

October New Products and Platform Updates

Platform Updates

Improvements to “Transactions not booked”

“Transactions not booked” in Account Details has been expanded to include provisional amounts that are calculated daily, but booked monthly. Provisional amounts now include:

CFD finance
Futures and listed option carrying costs
Option holding fees

CFD finance and interest calculations details are available in detailed reports.

We made these improvements in an ongoing effort to improve the user experience and accuracy of account value details.

.NET Version 4.62 required in GTS Pro

An upgrade to GTS Pro Desktop Application will soon be released which requires the .NET Framework 4.62

New Account Section Coming to GTS

As communicated previously, a New Account Section is getting rolled out to GTS in November. To stay up-to-date with the newest info, see here.

More updates to follow

Trading with Sub-Accounts

brokerage

Establish sub-accounts for instrument currencies you commonly trade to eliminate paying conversion fees on each individual trade back to your account currency.

Notes about trading with sub-accounts

A few things to be aware of when trading from sub-accounts:

Whenever you trade you need to choose the specific sub-account you want to trade from – the platform does not automatically chose the most appropriate sub-account for you. However the platform will warn you if you try to place a trade on an account when a sub-account with a matching currency is available.
If you have two opposite positions in two separate sub-accounts, they will not net out at the end of the day.
When placing a trade, the platform takes into consideration the total funds and margin available to the sub-account, not only the assets available on the sub-account. If you do not have enough funds you will still be allowed to place trades on a sub-account if free funds or margin are available in other accounts.
If you trade on a sub-account which has insufficient funds or margin, you may get a negative balance on the sub-account and will be charged interest on this negative balance. To avoid this, make sure you keep your sub-account balances positive.
You always need to maintain sufficient funds in your main account to cover your Net Free Equity requirements.
You can easily transfer funds between sub-accounts using the currency conversion request . The conversion rate will be the current exchange rate plus a conversion fee.

September 2017 New Products & Platform Updates

Product Updates

You can now get exposure to Bitcoin

Interest in cryptocurrencies has grown exponentially in 2017 thanks in large part to increased supply and demand in China and Japan. As a result, traders have increasingly yearned for a product which enables them to speculate on the price of Bitcoin, the original and most well-known cryptocurrency.

Two New ETNs

GTS clients can get exposure to Bitcoin through two new Exchange Traded Notes (ETNs) designed to track the movement of Bitcoin against the US Dollar (BTC/USD).

‘Bitcoin Tracker One’ is traded in Swedish Krona (SEK) and ‘Bitcoin Tracker EURO’ is traded in Euro (EUR). Both ETNs are issued by XBT Provider AB and traded on Nasdaq OMX (Stockholm).

If you are subscribed to these exchanges, the Bitcoin trackers will be enabled automatically on your platform. Note that due to low liquidity it is possible that quotes for these instruments will be unavailable. In that case the instrument is still tradable using a market order, but you should consult the relevant exchange to determine the current price before placing such a trade.

How to find Bitcoin in the platform?

The easiest way to find the new instruments is by searching for “bitcoin” in the trading platform. The ETNs will appear in your search result list.

Product Type:	Certificate (Exchange Traded Note)
Symbols:	BITCOIN_XBT:xome (SEK) / BITCOIN_XBTE:xome (EUR)
Exchange:	Nasdaq (Stockholm)
Issuer:	XBT Provider AB (publ)
Underlying asset:	Bitcoin nominated in USD
Leverage:	1:1
Expiry date:	Open-ended
Annual fee:	2.5%
Fact Sheet:	Click here
Issuer website:	Click here

Risk Warning

Please ensure you understand the risks involved in trading ETNs, including credit-, liquidity- and market risk before starting to trade these products.

FX orders will now be triggered on an independent ECN price feed

By replacing the underlying feed used to trigger resting orders from our own price feed to an independent ECN price feed, that offers a combination of bank and non-bank liquidity, we contribute to the reliant and effective functioning of the global wholesale FX market.

In addition, and further to the introduction of Order Driven Execution in November 2016, which provides a safer and more efficient way to fill client orders, we now route all Stop orders externally to be filled against ECN liquidity as a first priority. This is a safety precaution to ensure an accurate fill in line with the actual liquidity and market depth when faced with very directional client flow.

Why have we done this?

Because it is potential challenge in event driven and/or disorderly market scenarios, we want to move away from bank price feeds that are indicative last look quotes with the bank interest and internal risk appetite built in. An ECN price feed provides a much broader, neutral and firm set of liquidity (including bank and non-bank providers), in which prices are more consistently present both in good times and in disorderly or illiquid markets.

Change to the settlement cycle for Canadian and US equities

The Canadian and US equities markets will move from a T+3 to a T+2 settlement effective from 5 September 2017.

For more information you can visit : http://www.ust2.com/pdfs/T2-Conversion-WhitePaper.pdf

Product Enhancements

Coming soon: New Account section in GTS

We are happy to announce a completely redesigned Account section will be launched soon in GTS.

In the New Account Section:

New Performance Overview offers detailed analysis of P/L, % returns and the cash balance of selected accounts for a selected period.
P/L Analysis Tools allow you to analyze P/L, associated costs and bookings down to the product and instrument level in detail. Analyze your P/L by trading product, specific instruments or sectors, charting the cumulative P/L graphically or itemizing transactions associated with a product or instrument.
New Portfolio Summary gives an overview of your current net holding and offers a historic view of your holdings at the end of a selected day.
Other Account enhancements include simplified navigation and improved layout of reports; cash transfer tools and other account services.

More details to follow in future updates.

Improvements to “Transactions not booked”

From the 15 September 2017, “Transactions not booked” in Account Details will be expanded to include provisional amounts that are calculated daily, but booked monthly. Provisional amounts will include:

CFD finance
Futures, CFDs on Futures and listed options carrying costs
Option holding fees

CFD Finance and Interest calculations details will continue to be available in the detailed reports.

We are making these improvements in an ongoing effort to improve the user experience and accuracy of account value details.

Upcoming Upgrade to GTS Pro

In September 2017 an upgrade to the desktop application, Global TradeStation Pro will be released. This upgrade cannot be installed on Windows XP and Windows Vista. Consequently, we are ending support for GTS Pro on these operating systems by mid-November 2017. The upgrade will be optional for 60 days, but must be installed from mid-November. At that point, it will no longer be possible to use the platform on Windows XP and Windows Vista.

New Chart Indicators

Two new indicators are now available in the Chart in the GTS platform:

Volume Weighted Average Price (VWAP)

Volume Weighted Average Price (VWAP) is a technical indicator used to measure the average price on an instrument (typically a stock) against the traded volume over a particular time frame.

VWAP is a chart overlay similar to a moving average. VWAP is mostly used on intraday time periods (typically 5 minutes and 1 hour) to determine the general direction of a price move or trend. VWAP only works with Exchange traded instruments where there is an official traded price with volume i.e. Equities and Futures.

Instead of placing a single large order in the market, active traders often use VWAP to trade large volumes in line with the general volume and price of the intraday market in an effort not influence the general market price too much. Skilled VWAP users can often buy a large portion of their shares below the VWAP and sell above.

Oscillator (OSC)

The Oscillator (OSC) indicator can be used as a trend indicator. It charts the relationship between two moving averages (typically 28-day and 14-day averages).

Buy signals:

The Oscillator line crosses and moves above the zero line (when there is no difference between the fast and slow MAs)
Strong positive divergence (when the price is trending downwards but the Oscillator is trending upwards – this can be interpreted as bullish, suggesting a that recent down trend may be nearly over)

Sell signals:

The Oscillator line crosses and moves below the zero line (when there is no difference between the fast and slow MAs)
Strong negative divergence (when the price is trending upwards, but the Oscillator is trending downwards – this may be interpreted as bearish, suggesting that recent up trend will not continue)

Signals are more reliant on the direction of the underlying long-term trend — confirmation of signals using other indicators is advised.

Improvement to % Comparative chart

We have improved our % Comparative chart where you can now use one of the instruments as baseline

When comparing 2 instruments in Comparative mode, select Use as Baseline from the menu for the instrument – the instrument will be set as the reference (zero line) and percentage changes for the other instrument calculated relative to it.

Euro Pacific Advisors’ Portfolio Commentary: Q2 2017

Below is a quarterly update of Euro Pacific Bank’s mutual fund and separately managed account positioning, related market commentary, and outlook.

United States

US earnings season is positive and macroeconomic data indicating modest growth, but prospects for tax reform and fiscal boosts are diminishing and political risk is increasing.

United Kingdom

Recent data has softened concerns around the growth/inflation trade-off for the Bank of England. Potential of an imminent rate rise has faded. With growth forecasts weakening, we do not expect Bank of England tightening until Brexit risks have been reduced.

Europe

After a good run, European equities are becoming vulnerable to negative data surprises, although the euro looks set to run again after recent pullback.

World

Equity market volume globally yet to pick up, as risks remain.

Continued strong performance from our India shares in past two months but we are easing off this week and are looking to take profits on Tactical exposure replacing it with Japan exposure. We will retain India exposure in the Core component of the strategies.

Portfolio Actions

We will adjust the strategies to reflect our market views over the next two weeks. In summary, the main changes are:

An increase in European exposure
An increase in Japanese equities
A reduction in UK exposure
A reduction in Indian exposure

Regards,

Euro Pacific Advisors Management Team

August 2017 New Products & Platform Updates

New E-mini Russell 2000 Contract Options on CME

On 10 July 2017, the world’s largest derivatives marketplace, the CME Group, launched futures and options on the Russell 2000® Index. This Russell index offers access to US domestic companies with market capitalization of between 50M-10B.

The respective futures and options have traded on the ICE exchange since 2007 but are now returning to CME. The futures will be listed with quarterly contracts, and the September (RTYU7) and December (RTYZ7) ones are already available on GTS.

Introducing RANsquawk news feed

You can look forward to even more real-time FX news on the trading platforms, thanks to our latest agreement with FX news provider RANsquawk offering a filtered scrolling headline feed that comprises market relevant news, flow and commentary.

RANsquawk offers comprehensive text headlines for macro events in FX space. This service covers all G20 economic releases, central bank speakers and FX news for major currency pairs and crosses: EURUSD, USDJPY, USDCHF and GBPUSD.

Other currencies covered include AUD, NZD, CNY, NOK, SEK, INR, KRW, TRY, RUB, BRL and any currency in focus and affecting the wider market.

RANsquawk covers sovereign order flow, option barriers and expiries. Key levels in focus by FX desks are also included in the coverage of important European bond auctions and yield movement.

Euro Pacific Bank

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Product Updates

Product Enhancements

Operational Changes

General market data subscription fees changes as of 1 January 2018

Market Overview

United States

Europe

United Kingdom

Emerging Markets

Fixed Income

Table of Contents

Portfolio Overview

Account Summary

Account Value chart

Instrument P/L

P/L Bar Chart

Top 3 Gainers and Losers

Cumulative P/L chart

Monthly Return table

Returns

%Return Chart

Winning % Indicators

Statistics

Monthly % returns table

Cash

Cash Balance Chart

Cash Balance Summary

Cash Movements Bar Chart

P/L and Cash Movements Tools

Profit/Loss

Cash Movements

Closed Positions

New Portfolio Overview

Allocation

Current Account Values

Historic View

New Navigation

Historic Reports

Deposit and Transfer

Other Account Functions

Improvements to “Transactions not booked”

.NET Version 4.62 required in GTS Pro

New Account Section Coming to GTS

Notes about trading with sub-accounts

Product Updates

Two New ETNs

How to find Bitcoin in the platform?

Risk Warning

Why have we done this?

Product Enhancements

Volume Weighted Average Price (VWAP)

Oscillator (OSC)

Buy signals:

Sell signals:

Improvement to % Comparative chart

United States

United Kingdom

Europe

World

Portfolio Actions

New E-mini Russell 2000 Contract Options on CME

Introducing RANsquawk news feed