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ESAs' report on the implementation and functioning of the securitisation regulation
May 17, 2021--The Joint Committee of the European Supervisory Authorities (ESAs - European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its analysis of the implementation and the functioning of the EU Securitisation Regulation (SECR), including recommendations on how to address initial inconsistencies and challenges, which may affect the overall efficiency of the current securitisation regime.
The Report is meant to provide guidance to the European Commission in the context of its review of the functioning of the SECR. It also provides initial inputs to the ongoing discussion on the efficiency of the securitisation framework given the role that securitisation could play in the recovery post the Covid-19 pandemic.
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SOURCE: ESMA
New Tabula ETF on Xetra: Access to US Inflation via US TIPS and Breakeven Inflation Rate
May 14, 021--Since Friday, a new exchange traded fund issued by Tabula has been tradable on Xetra and Börse Frankfurt.
With the Tabula US Enhanced Inflation UCITS ETF (USD)-EUR Hedged Acc, investors can rely on a strategy that for the first time enables protection against inflation risks and at the same time allows them to profit from rising inflation expectations.
Realised US inflation is mapped via a broadly diversified portfolio of inflation-protected US government bonds. Additionally, an investment into 7- to 10-year US inflation expectations is made.
This share class minimises currency risks against the euro.
Name: Tabula US Enhanced Inflation UCITS ETF (USD)-EUR Hedged Acc
Asset class: Bond ETF
ISIN: IE00BKX90X67
Ongoing charges: 0.34 per cent
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Source: Deutsche Börse
ECB-Meeting of 21-22 April 2021-Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 21-22 April 2021
May 13, 2021--1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the financial market developments since the Governing Council's previous monetary policy meeting on 10-11 March 2021.
Euro area government bond yields had decoupled from US Treasury yields – which had continued to increase in the course of March 2021 before retreating somewhat in April-and had remained broadly unchanged since late February 2021.
In part, this reflected the renewed rise in coronavirus (COVID-19) infections and the tightening of lockdowns in the euro area, which had affected near-term growth expectations. However, it also reflected the impact of the Governing Council’s monetary policy decisions in March and the preceding communication, convincing markets of the ECB’s determination to maintain favourable financing conditions. The ECB's recent measures had been effective in shielding euro area long-term rates from spillovers, with regard to both the risk-free yield curve and sovereign spreads.
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Source: ECB
Coinbase vows to add trading in more cryptocurrencies
May 13, 2021--Exchange says it will start offering dogecoin after complaining of losing out to rivals.
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Source: FT.com
Euro area securities issues statistics: March 2021
May 12, 2021--The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 7.5% in February 2021 to 8.4% in March.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate increased from 1.7% in February 2021 to 2.0% in March.
Debt securities
New issuances of debt securities by euro area residents totalled EUR 806.4 billion in March 2021. Redemptions amounted to EUR 630.2 billion and hence net issues to EUR 176.2 billion. The annual growth rate of outstanding debt securities issued by euro area residents increased from 7.5% in February 2021 to 8.4% in March.
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Source: ECB
Deutsche Borse welcomes Iconic as new issuer of Crypto ETNs
May 12, 2021--Easy access to Bitcoin performance / product with physical collateralisation / central clearing reduces settlement risks
Since Wednesday, a cryptocurrency ETN issued by Iconic has been tradable via Xetra and Börse Frankfurt for the first time.
With the Iconic Funds Physical Bitcoin ETP, investors can easily participate in the performance of the cryptocurrency Bitcoin without having to set up crypto wallets.
The exchange traded note (ETN) tracks the NYSE Bitcoin Index and is physically backed by Bitcoin. Through central clearing, investors also benefit from significantly reduced risks in the settlement of transactions.
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Source: Deutsche Börse
Germany to switch 9bn euro in federal pension money to EU climate index
May 6, 2021--Some €9bn of German federal pension assets are due to be reallocated to equity indices aligned with the EU Climate Transition Benchmark (CTB) as part of the government's sustainable finance strategy, it was announced yesterday.
S&P Dow Jones Indices said it had been chosen by the government to develop the index, which would be used for four federal civil service funds.
The EU CTB is one of two types of climate benchmarks for which the EU has developed minimum standards. The other is the EU Paris-Aligned Benchmark (PAB).
The CTB requires a lower baseline reduction of greenhouse gas intensity relative to the market-weighted investable universe than the PAB. Another difference is that a CTB-compliant benchmark does not have to exclude fossil fuels based on certain thresholds.
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Source: ipe.com
New VanEck ETF on Xetra: digital assets
May 6, 2021--A new exchange-traded fund issued by VanEck Vectors has been tradable on Xetra and Börse Frankfurt since Thursday.
With the VanEck Vectors Digital Assets Equity UCITS ETF, investors participate in the performance of companies that generate at least 50 per cent of their revenues directly or indirectly from digital assets.
These include operators of crypto exchanges or mining companies, as well as companies that provide hardware and services to the crypto industry, such as semiconductor manufacturers and payment service providers. In addition, companies that hold a significant amount of digital assets may be included in the Index.
The index always comprises at least 25 securities and limits the weighting of a company to a maximum of eight per cent. Semiconductor stocks and payment service providers are weighted with a maximum of 4.5 percent.
Europe's largest bank plans joint attack on major U.S. clearing house
May 3, 2021--More than 30 of Europe's largest banks and credit card processors are trying to create huge payments that can break the US-dominated "oligopoly."
The Brussels-based venture, which currently employs 40 payment professionals, will be able to use pan-Europe for online and in-store payments, consumer invoice payments and cash withdrawals by September. You need to create a blueprint for your payment service. ATM.
"The idea is to build a European payment champion who can take on PayPal, Mastercard, Visa, Google and Apple," said Joachim Schmalzl, chair of the European Payment Initiative (EPI).
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Source: londonnewstime.com
Amundi bets on ETF growth with Lyxor acquisition
May 3, 2021--Firm to move to second place in Europe behind BlackRock
Amundi's acquisition of Lyxor Asset Management marks a significant moment in Europe's exchange-traded funds industry, with a potential European champion finally emerging and also once again highlighting the importance of scale in the passive business.
Last month, Paris-based money manager Amundi announced it had entered exclusive negotiations to acquire Paris-based Lyxor in an almost $1 billion deal.
Amundi - with €1.76 trillion ($2.07 trillion) in assets under management as of March 31 vs. Lyxor's €124 billion- highlighted the ETF angle of the deal: Lyxor's European ETFs AUM was €77 billion as of Dec. 31, the third-largest player in Europe, while Amundi's was about €66 billion, putting it in fifth place. As of March 31, Amundi's AUM had grown to €77 billion.
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Source: pionline.com
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