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ESMA publishes first overview of the size and structure of EU securities markets
November 18, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today published its first statistical report on European Union (EU) securities markets.
The Report uses new regulatory data sources to give, for the first time, a comprehensive overview of European equity and bond markets in 2019, including the number, characteristics, volumes traded and transparency data on the equity and bond instruments subject to MiFID II.
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Source: ESMA
ECB-Euro area financial vehicle corporation statistics: third quarter of 2020
November 17, 2020--In third quarter of 2020 outstanding amount of debt securities issued by euro area FVCs engaged in securitisation decreased to €1,539 billion, from €1,547 billion in previous quarter
Net redemptions of debt securities by FVCs during third quarter of 2020 amounted to €5 billion
Euro area FVCs disposed €18 billion of securitised loans in third quarter of 2020, with outstanding amounts totalling €1,231 billion
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Source: ECB
Deutsche Borse AG: Agreement on acquisition of majority stake in Institutional Shareholder Services Inc. (ISS)
November 17, 2020--Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Deutsche Börse AG ("Deutsche Börse") has entered into binding agreements on the acquisition of Institutional Shareholder Services Inc. ("ISS"), which is a leading governance, ESG data and analytics provider.
Deutsche Börse will acquire a majority stake of approximately 80% in ISS. Genstar Capital LLC and the current management of ISS will continue to hold approximately 20% in ISS. The transaction is based on an ISS valuation of USD 2,275 million (EUR 1,925 million) cash-and-debt free for 100%. Deutsche Börse plans to finance the acquisition by around EUR 1 billion of debt and the remainder with cash.
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Source: Deutsche Börse Group
ECB-Euro area investment fund statistics: third quarter of 2020
November 17, 2020--In third quarter of 2020, outstanding amount of shares/units issued by investment funds other than money market funds rose to €12,818 billion, up €336 billion on previous quarter
Net issues in quarter amounted to €141 billion, with €965 billion in gross issues and €825 billion in gross redemptions
Outstanding amount of shares/units issued by money market funds rose to €1,391 billion, up €28 billion on previous quarter
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Source: ECB
EU regulators search answer to post-Brexit derivatives rule conflict
November 16, 2020--European regulators are racing to keep away from London branches of EU banks having to route derivatives trades by way of New York, if Brussels fails to deem the Metropolis's regulatory requirements sturdy sufficient after Brexit.
Officers are engaged on emergency tweaks to guidelines within the occasion the UK and the EU don't grant adequate entry rights to one another's monetary companies markets, in a set of so-called equivalence selections, earlier than Britain leaves the bloc on December 31.
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Source: FT.com
EU derivative clearing showed strong growth in 2019
November 16, 2020--The European Securities and Markets Authority (ESMA), the EU''s securities markets regulator, today publishes its third Annual Statistical Report (Report) analysing the European Union's (EU) derivatives markets.
It provides a comprehensive market-level view of the EU's derivatives markets in 2019, which had a total size of €681tn gross notional amount outstanding, a decrease of 5% on 2018. The Report is based on data submitted under the European Markets and Infrastructure Regulation (EMIR).
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Source: ESMA
Five Charts on Spain's Economy and Response to COVID-19
November 13, 2020--The pandemic has taken a significant toll on Spain's people and economy, following five years of strong growth and job creation. A second wave of infections that started in mid-July has put a lid on the recovery.
According to the IMF's latest economic health check of the country, it will take several years for the Spanish economy to recover. And the outlook is subject to strong risks.
Here are six charts on Spain’s economic outlook and the country’s response to the crisis.
Despite a sharp rebound in the third quarter, the Spanish economy remains 8.7 percent below its level a year ago-one of the largest contractions in Europe. The magnitude of the drop reflects the large-scale spreading of infections, which required strict lockdown measures. Structural features that make the Spanish economy vulnerable to disruptions also played a role. Contact-intensive service sectors like tourism, which accounts for about 12 percent of Spain's economy, were hit especially hard. Small and medium-sized companies, which typically have fewer financial resources and contribute to over 70 percent of employment, are struggling to stay afloat. The widespread use of temporary employment accounted for most of the job losses.
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Source: IMF
ESMA identifies costs and performance and data quality as new Union Strategic Supervisory Priorities
November 13, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, using its new convergence powers, has identified costs and performance for retail investment products and market data quality as the Union Strategic Supervisory Priorities for national competent authorities (NCAs).
Under these Priorities, the specific topics on which NCAs will undertake supervisory action in 2021, coordinated by ESMA, are:
1.costs and fees charged by fund managers; and
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Source: ESMA
ESMA tells fund managers to improve readiness for future adverse shocks
November 13, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published a Report on the preparedness of investment funds with significant exposures to corporate debt and real estate assets, for potential future adverse liquidity and valuation shocks. The Report identifies five priority areas for action which would enhance the preparedness of these fund categories.
The priority areas identified to enhance the preparedness of the funds are ongoing supervision of the alignment of the funds' investment strategy, liquidity profile and redemption policy; ongoing supervision of liquidity risk assessment; fund liquidity profile reporting; increase of the availability and use of Liquidity Management Tools (LMTs); and supervision of valuation processes in a context of valuation uncertainty.
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Source: ESMA
Labour calls for UK pension funds to be carbon neutral by 2050
November 12, 2020--Opposition party in push to align retirement schemes with Paris climate agreement.
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Source: FT.com
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