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ESMA-Episodes of very high volatility in trading of certain stocks
February 17, 2021--STATEMENT
Episodes of very high volatility in trading of certain stocks
Recent episodes have shown very high volatility in certain US stocks, linked to a significant accumulation of net short positionsand concerted action by some retail investors, based on informationshared on social media.Although market rules and structures are different in the EU, it cannot be ruled out that similar circumstances may occurin the EU as well.
An increased participation of retail investors in stock markets is welcome for the development of the Capital Markets Union. Nonetheless, ESMA urges retail investors to be careful when taking investment decisions based exclusively on information from social media and other unregulated online platforms, if they cannot verify the reliability and quality of that information.
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Source: ESMA
Regulating big tech: the Digital Markets Act
February 16, 2021--The European Union's proposed Digital Markets Act will attempt to control online gatekeepers by subjecting them to a wider range of upfront constraints.
Digital market forces drive huge efficiency gains. But they also create winner-take-all dynamics that can, left unchecked, lead to monopolistic markets and hurt consumers in the long-run. Slow-moving competition policy tools are ill-equipped to fully address these digital concerns.
(1) The DMA was proposed alongside the Digital Services Act (DSA) which targets illegal goods, services and content, abuse of platforms, advertising and algorithmic transparency. The DSA concerns most online businesses.
In December 2020 the European Commission proposed the Digital Markets Act (DMA) to regulate the gatekeepers of the digital world by imposing direct restrictions on the behaviour of tech giants (1). While the Commission has not named any companies, it has proposed criteria that are sure to catch Google, Facebook, Amazon, Apple, Microsoft and SAP, among others.
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Source: bruegel.org
ETFGI reports assets invested in ETFs and ETPs listed in Europe reach a record 1.30 trillion US Dollars at the end of January 2021
February 15, 2021--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reports assets invested in ETFs and ETPs listed in Europe reach a record US$1.30 trillion at the end of January. A strong start to the year with record net inflows of US$20.51 billion during January, which is significantly more than the net inflows of US$15.16 billion in January 2020.
Assets invested in the European ETFs/ETPs industry have increased by 1.1%, from US$1.28 trillion at the end of December, to US$1.30 trillion, according to ETFGI's January 2021 European ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets reach a new record $1.30 trillion invested in ETFs and ETPs listed in Europe at the end of January.
Net inflows set a new record of $20.51 billion in January.
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Source: ETFGI
UK economy suffers biggest drop since 1709
February 12, 2021--The British economy suffered its biggest decline in more than 300 years in 2020 as the coronavirus pandemic closed shops and restaurants, devastated the travel industry and curtailed manufacturing.
The economy shrank 9.9% last year, more than twice the figure for 2009 at the height of the global financial crisis, the Office for National Statistics said Friday.
The drop is the largest since 1709, when a cold spell known as the Great Frost devastated what was then a largely agricultural economy.
The data comes as Britain's economy remains shackled by restrictions designed to combat COVID-19. A rebound in growth during the fourth quarter has been stifled by England’s third lockdown, which has closed schools, restaurants and non-essential shops since mid-December. Tough restrictions also remain in place in Northern Ireland, Scotland and Wales.
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Source: apnews.com
Amsterdam displaces London as Europe's top stocks centre after Brexit
February 11, 2021--Amsterdam has displaced London as Europe's biggest share trading centre after Britain left the European Union's single market, and picked up a chunk of UK derivatives business along the way, according to data published on Thursday.
Stock exchanges in the Dutch capital traded 9.2 billion euros ($11.15 billion) a day in January, compared to London's 8.6 billion, according to the Cboe exchange, which operates in both cities.
This compares with an average of 17.5 billion euros traded daily in London during 2020, when Frankfurt was second with 5.9 billion and Amsterdam sixth at 2.6 billion, Cboe said.
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Source: reuters.com
Carbon border adjustment in the United States: not easy, but not impossible either
February 11, 2021--President Biden has promised to implement a levy on carbon-intensive imports, albeit without a federal domestic carbon price. The measure faces a number of difficulties, but could feasibly be implemented. The route chosen by the US will have important implications for the EU's own plans.
Joe Biden has promised to put the United States on an "irreversible" path to achieve net-zero emissions by 2050 while creating millions of well-paying jobs. His Plan for a Clean Energy Revolution and Environmental Justice includes proposals for 100% carbon-free electricity by 2035, $1.7 trillion in green investments over the next ten years and a pledge to devote 40% of these investments to disadvantaged communities.
His plan also includes a carbon border adjustment (CBA) proposal- a pledge to "impose carbon adjustment fees or quotas on carbon-intensive goods from countries that are failing to meet their climate and environmental obligations".
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Source: bruegel.org
Exberry and Digital Asset team up with Baymarkets
February 11, 2021--Exberry and Digital Asset team up with Baymarkets to add clearing to their end-to-end digital asset exchange platform. For the first time, and with the integration of Baymarkets Clara Clearing System, market participants can register, trade and clear traditional, alternative and digital assets on one integrated platform.
Exberry (the exchange technology pioneer), Digital Asset (the creators of the open source Daml shared ledger development framework) and Baymarkets (the developer of the Clara clearing system) today announced the availability of cutting edge exchange infrastructure with central counterparty clearing functionality. This partnership will enable new digital asset marketplaces to launch on a fully-compliant, end-to-end exchange platform encompassing registry, custody, trading, matching and clearing services.
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Source: Baymarkets
Euro area securities issues statistics: December 2020
February 10, 2021-The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 7.6% in December 2020, compared with 7.5% in November.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 1.3% in December 2020, compared with 1.2% in November.
Debt securities
New issuances of debt securities by euro area residents totalled EUR 543.6 billion in December 2020. Redemptions amounted to EUR 621.7 billion and hence net redemptions to EUR 78.1 billion. The annual growth rate of outstanding debt securities issued by euro area residents was 7.6% in December 2020, compared with 7.5% in November.
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Source: ECB
Valerie Baudson Will Replace Yves Perrier as CEO of Amundi as of May 2021
February 10, 2021--Perrier has been appointed Chairman of the board of directors, taking over Xavier Musca's current position
"This change in governance will ensure a smooth transition and the continuity of Amundi's development"
The changes will take place following the next Amundi general meeting on 10 May 2021
During the presentation of its annual results, Amundi announced that Valérie Baudson will replace Yves Perrier as CEO of the company. Meanwhile, Perrier has been appointed Chairman of the board of directors.
According to Europe's biggest asset manager, this change in leadership will take place next May 10, when Perrier will formally step down. "After 14 years as head of Amundi, Yves Perrier has wished to hand over the general management responsibility".
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Source: fundssociety.com
New L&G ETF on Xetra: hydrogen companies worldwide
February 10, 2021--A new exchange traded fund issued by Legal & General Investment Management has been tradable on Xetra and Börse Frankfurt since Wednesday.
The L&G Hydrogen Economy UCITS ETF- Acc enables investors to invest in companies in the hydrogen industry worldwide. The use of hydrogen technology enables reduction of fossil fuels in the long term and thus provide an opportunity for clean and sustainable energy.
Companies along the entire value chain, from hydrogen production to hydrogen use, are considered. This includes producers and subcontractors, suppliers and distribution networks, storage units and end users, such as manufacturers of fuel cells and providers of mobility solutions based on hydrogen propulsion.
Excluded are companies with significant business activities in the areas of thermal coal or weapons, as well as those that are not in line with the principles of the UN Global Compact.
Name: L&G Hydrogen Economy UCITS ETF - Acc
Asset class: Equity ETF
ISIN: ISIE00BMYDM794
Ongoing charges: 0.49 per cent
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Source: Deutsche Börse
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