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ESMA Newsletter-N0.15
July 3, 2020--Welcome to the 15th edition of ESMA's newsletter.
This month, ESMA has published its 2019 Annual Report, released an important video on cost and performance and approved the new Securities and Markets Stakeholder Group (SMSG).
In this edition, we also take a closer look at our full list of ESMA staff webinars and catch up on publications from June.
Finally, the Board of Supervisors will meet next on 7 & 8 July so stay with us for more updates.
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Source: ESMA
Research and analysis: UK official holdings of international reserves: June 2020
July 3, 2020--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
New UBS ETF on Xetra: Sustainable investments in equities from the Pacific region
July 3, 2020--Since Friday, a new exchange traded fund issued by UBS Global Asset Management has been tradable on Xetra and Börse Frankfurt.
With the UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-acc, investors can invest in large and medium-sized companies from five industrialised nations in the Pacific region, considering sustainability criteria.
Companies with significant business activities in the fields of nuclear energy, tobacco, steam coal, alcohol, gambling, weapons and genetically modified organisms are excluded from the index. The weighting of a stock is limited to a maximum of five per cent.
Any dividends received are reinvested. The annual costs amount to 0.40 per cent.
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Source: Xetra
Borsa Italiana-Monthly Update June 2020
July 3, 2020--The Borsa Italiana-Monthly Update June 2020.
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Source: borsaitaliana.it
UK Financial Watchdog Grants License to London-Based Crypto Asset Firm
July 2, 2020--London-based crypto asset management firm Prime Factor Capital has obtained a license from the FCA to operate as a full-scope Alternative Investment Fund Manager.
London-based crypto asset management firm Prime Factor Capital has obtained a license from the Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). The development was announced in a press release on July 1.
Being FCA-authorized gives Prime Factor Capital the right to operate as a full-scope AIFM under the European Union’s AIFM Directive (AIFMD). The Directive is a regulation applied to private equity funds, hedge funds, and real estate funds, which sets standards for marketing in regards to raising private capital, risk monitoring and reporting, among other issues.
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Source: cointelegraph.com
Deutsche Boerse welcomes 21Shares as new issuer
July 2, 2020--New crypto ETN offers easy access to Bitcoin
Since Thursday, the first cryptocurrency product issued by 21Shares has been tradable on Xetra and Börse Frankfurt.
With the 21Shares Bitcoin ETP, investors can participate in the performance of the cryptocurrency Bitcoin.
The Exchange Traded Note (ETN) is physically backed by Bitcoin and has been admitted to the Regulated Market of the Frankfurt Stock Exchange. The ETN is centrally cleared via Eurex Clearing. Central clearing allows investors to benefit from significantly reduced risks in the settlement of transactions.
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Source: Deutsche Börse Group
Qontigo Launches First EU-Compliant Climate Benchmark Indices
July 2, 2020--July 2, 2020--STOXX PAB and STOXX CTB Index families align with EU Regulatory objectives to reduce global warming and decarbonize
Qontigo announced today the launch of two new families of Climate Indices: the STOXX Paris-Aligned Benchmark (PAB) Indices and the STOXX Climate Transition Benchmark (CTB) Indices.
These indices help reduce exposure to climate-related financial risks and include companies that are well-positioned to provide solutions needed to transition to a low-carbon economy.
The new PAB Benchmarks and CTB Benchmarks track the performance of liquid securities from a selection of underlying STOXX Benchmark indices. Both comply with, and exceed, the CTB and PAB requirements as laid out by the European Commission’s Technical Expert Group (TEG) Final Report. The Climate Benchmark Regulation is part of the European Commission’s Action Plan on financing sustainable growth. The indices were constructed in collaboration with ISS ESG and Sustainalytics, two of the leading providers of sustainability data.
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Source: Deutsche Börse Group
FESE-Equity: the key to unlocking a sustainable economic recovery
July 2, 2020--The Covid-19 pandemic has had tremendous effects on our societies. The loss of lives and the health crisis in general has been devastating.
Secondary to this, as societies closed down to limit the spread of the disease, economic activity ground to a halt. As a result, we may be facing the most severe economic crisis since the Great Depression. This crisis also creates an opportunity to revisit and improve economic policy and create a better and greener future for Europe.
RECOMMENDED MEASURES
A revamped CMU which balances between private and public markets is a must.
The proposed fund for EU IPOs should be pan- European and support both IPOs and secondary issuances, while contributing to relaunching IPOs.
To re-equitise the economy, a concrete proposal for the fund through public/private partnerships should be drafted.
The various stimulus packages should include specific bridge financing for viable SMEs/growth companies that were planning IPOs when the Covid crisis hit.
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Source: FESE (Federation of European Securities Exchanges)
One Of Bitcoin Most Renowned ETP Launches On Deutsche Boerse
July 1, 2020--Further enhances investor protection being centrally cleared (CCP)
The world-leading issuer of crypto ETPs, 21Shares AG, is officially listing its 21Shares Bitcoin ETP on the official market of Deutsche Börse's Xetra electronic venue on Thursday July 2nd 2020. 21Shares AG has been present in the German market since the dual listing of seven of its ETPs on Börse Stuttgart since January 2020.
ABTC -with a track record of over 1.5 years and charging a low 1.49% management fee-leaped institutional acceptance of the digital asset industry forward by being the first ETP listed on a regulated stock exchange (the largest Swiss stock exchange). Inspired by the pioneering work from the 21Shares team, other issuers followed suit with similar structures replicating the original Bitcoin ETP issued by 21Shares.
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Source: 21Shares
How index investing can drive sustainable finance transition
July 1, 2020-A well-informed decarbonisation trajectory calls for a quantitative investment approach via indices.
The Covid-19 crisis is a stark reminder of the vulnerability of human societies and our dependence on the balance of natural systems. It is true for health issues but also for biodiversity and climate issues.
Some observers even argue that climate change could foster the emergence of future pandemics, as global warming could facilitate the spread of viruses held in check by colder temperatures.
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Source: FT.com