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ECB-Euro area securities issues statistics: August 2020
October 12, 2020--The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 7.3% in July 2020 to 7.7% in August.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 0.3% in August 2020, compared with 0.1% in July.
Debt securities
New issuance of debt securities by euro area residents totalled EUR 545.1 billion in August 2020. Redemptions amounted to EUR 443.7 billion and net issues to EUR 101.4 billion.
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Source: ECB
First Active ETF of Almalia on Xetra: Shariah-compliant companies worldwide
October 12, 2020--Since Monday, a Shariah-compliant, actively managed exchange traded fund issued by Almalia has been tradable on Xetra and Börse Frankfurt via the HANetf white label platform for the first time.
The Almalia Sanlam Active Shariah Global Equity UCITS ETF gives investors direct access to up to 30 companies worldwide that comply with the investment principles of the Shariah.
To be included in the index, companies must have a proven solid business model over the long term.
Companies that generate more than 5 per cent of their income from business activities such as alcohol, tobacco, pork products, conventional financial services, defence, gambling, music, hotels, cinema or adult entertainment are excluded.
Name: Almalia Sanlam Active Shariah Global Equity UCITS ETF
Asset class: Equity ETF
ISIN: IE00BMYMHS24
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Source: Deutsche Börse
Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements
October 9, 2020--Seven central banks and the BIS release a report assessing the feasibility of publicly available CBDCs in helping central banks deliver their public policy objectives.
Report outlines foundational principles and core features of a CBDC, but does not give an opinion on whether to issue.
Central banks to continue investigating CBDC feasibility without committing to issuance.
A group of seven central banks together with the Bank for International Settlements (BIS) today published a report identifying the foundational principles necessary for any publicly available CBDCs to help central banks meet their public policy objectives.
The report, Central bank digital currencies: foundational principles and core features, was compiled by the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, Sveriges Riksbank, the Swiss National Bank and the BIS, and highlights three key principles for a CBDC....
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Source: BIS
UK economy stumbles in August, setting back recovery from COVID-19 slump
October 9, 2020--Britain's economy struggled to grow in August, setting back its recovery from the coronavirus lockdown, and finance minister Rishi Sunak was due to announce more help to slow a rise in jobs losses as a second wave of COVID-19 infections hits.
Gross domestic product rose by 2.1% from July, official data showed, not even half the median forecast in a Reuters poll of economists and the slowest increase since the economy began to recover in May from a record slump.
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Source: reuters.com
London Stock Exchange to sell Milan arm to Euronext for 4.3bn Euros
October 9, 2020--Borsa Italiana deal clears way for LSE purchase of financial data provider Refinitiv
The London Stock Exchange Group has agreed to sell the Milan stock exchange to the rival group Euronext for €4.3bn (£s:3.9bn) in cash, clearing the way for the LSE's purchase of the financial data provider Refinitiv.
The LSE and Euronext, which owns several European stock exchanges including the Paris bourse, began exclusive talks over the Borsa Italiana deal in September.
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Source: theguardian.com
Meeting of 9-10 September 2020 Account of the monetary policy meeting of the Governing Council of the European Central Bank
October 8, 2020--Held in Frankfurt am Main on Wednesday and Thursday, 9-10 September 2020
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 15-16 July 2020.
The functioning of euro area financial markets had, by and large, been restored. Stress symptoms had largely dissipated and liquidity had returned to the market. The Composite Indicator of Systemic Stress (CISS) remained only marginally higher than before the coronavirus (COVID-19) period, with the difference primarily being driven by still elevated volatility, particularly in stock markets.
Financial conditions had also improved broadly in the euro area. The GDP-weighted government bond curve had shifted further down and had returned to its pre-crisis level. Large parts of the curve were again in negative territory and very close to the lowest level ever recorded. Government bond spreads too had reached, or were close to, their pre-crisis levels and investment-grade corporate bond spreads had fallen by nearly 20 basis points since the Governing Council's previous monetary policy meeting. High-yield bond spreads had even fallen by nearly 50 basis points.
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Source: ECB
Investing in People is Crucial to Economic Recovery in Central Asia
October 7, 2020---- Central Asian economies are on course to contract by 1.7 percent this year, a sharp reversal from the 4.9 percent growth in 2019, says the latest edition of the World Bank Economic Update for the Europe and Central Asia region released today.
The impact of the coronavirus (COVID-19) pandemic varies across Central Asia. Kazakhstan and the Kyrgyz Republic will see an economic contraction of 2.5 percent and 5.5 percent, respectively this year. Tajikistan and Uzbekistan, on the other hand, will avoid a recession but growth is likely to be tepid at 1.6 percent (from 7.5 percent in 2019) in Tajikistan and 0.6 percent (from 5.6 percent in 2019) in Uzbekistan.
World Bank Economic Update for the Europe and Central Asia
Source: World Bank
UK regulator bans sale of crypto derivatives to retail users
October 6, 2020--Quick Take
The U.K.'s Financial Conduct Authority (FCA) has today officially banned the sale of cryptocurrency derivatives and exchange-traded notes to retail users, more than a year after first proposing such a ban.
The ban will come into effect on January 6, 2021.
"We are extremely disappointed by the FCA’s decision...," Townsend Lansing, head of product at CoinShares, told The Block.
The U.K's Financial Conduct Authority (FCA) has today officially banned the sale of cryptocurrency derivatives and exchange-traded notes to retail users, more than a year after first proposing such a ban.
The FCA said these products are "ill-suited" for retail consumers due to various reasons, including "extreme volatility" of cryptocurrencies.
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Source: theblockcrypto.com
Deutsche Boerse/Dax: wider, deeper, stricter
October 5, 2020--Exclusive clubs often have permissive rules. The collapse of Wirecard, a fintech giant riddled with fraud, showed up the quirks of those governing the Dax, the index representing the corporate elite of Germany. A revamp of the rule book-and a possible enlargement- proposed by exchange operator Deutsche Boerse is necessary and welcome.
The overhaul would make it harder for risky businesses to join the index. A company could be booted out if it delayed filing accounts. Proven profitability would be necessary. There has been unease over Wirecard’s replacement with lossmaking food delivery company Delivery Hero.
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Source: technocodex.com
New iShares ETFs on Xetra: Eurozone government bonds with focus on climate change
October 5, 2020--Since Monday, two new exchange traded funds issued by iShares have been tradable on Xetra and Börse Frankfurt.
The iShares EUR Govt Bond Climate UCITS ETF EUR enables investors to invest in euro-denominated fixed income government bonds of eurozone countries that have an investment grade rating and a minimum residual maturity of one year.
The underlying index is overweight in bonds from countries that are less exposed to the effects of climate change. For this purpose, the physical risk of climate change (e.g. natural disasters) and the precautionary measures taken by the respective country are considered, as well as the cost of reducing greenhouse gas emissions. Investors have the choice between an accumulating and a distributing share class.
Name: iShares EUR Govt Bond Climate UCITS ETF EUR (Acc)
Asset: IE00BLDGH553
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Source: Deutsche Börse
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