A Capital Market Union for Europe: Why It's Needed and How to Get There
September 10, 2019--When savers and firms invest and borrow beyond their national borders, they enjoy opportunities to diversify their portfolios and lower their funding costs, respectively. In Europe, this idea-of an integrated financial system that offers a richness of financing choice-remains an elusive goal: capital markets are far from integrated.
Our recent research finds that European finance is still sharply segmented along national lines, with savers and investors depending heavily on national banking systems. Although the landscape is dotted with many different types of investors and intermediaries, their focus is mostly domestic-"home bias" is pervasive.
view more
Source: IMF
HANetf and the Royal Mint sign historic agreement to develop gold ETC
September 10, 2019--Gold ETC will become The Royal Mint's 1st listed financial product
Product to launch via HANetf's unique White-Label Platform
Physical gold to be custodied at The Royal Mint's highly secure vault
The gold backed ETC will be available in the UK, Italy and Germany from early 2020
HANetf, Europe's first independent 'white label' UCITS ETF issuer is delighted to announce a historic collaboration with The Royal Mint to develop and launch a physically-backed gold ETC.
view more
Source: presshalo.com
ESMA-Investors face increasing risks amid renewed market volatility
September 10, 2019--The European Securities and Markets Authority (ESMA), the EU's securities regulator, has published the second Trends, Risks and Vulnerabilities (TRV) report for 2019.
and Markets Authority (ESMA), the EU's securities regulator, has published the second Trends, Risks and Vulnerabilities (TRV) report for 2019. The report identifies a deteriorating outlook for the asset management industry and continued very high market risk. Recent trade tensions have triggered renewed volatility, and concerns over a no-deal Brexit remain key risk drivers for the second half of 2019.
Investors are facing very high market risk, as they navigate an environment of potentially inflated asset valuations, subdued economic growth prospects, and flattening yield curves.
view the ESMA report on trends, risks and vulnerabilities no.2 2019
Source: ESMA
ESMA Risk Dashboard No. 3 2019
September 10, 2019--EMA has published the ESMA Risk Dashboard No. 3 2019.
view
Source: ESMA
ESMA publishes stress simulation framework for investment funds
September 5, 2019--The European Securities and Markets Authority (ESMA), the EU's securities markets' regulator, has developed a framework to be used for stress simulations for the investment fund sector.
The method developed by ESMA is presented in detail in its Economic Report published today, and is accompanied by a case study where it is applied to 6,000 UCITS bond funds.
view more
Source: ESMA
ESMA publishes stress simulation framework for investment funds
September 5, 2019--The European Securities and Markets Authority (ESMA), the EU's securities markets' regulator, has developed a framework to be used for stress simulations for the investment fund sector.
The method developed by ESMA is presented in detail in its Economic Report published today, and is accompanied by a case study where it is applied to 6,000 UCITS bond funds.
view more
Source: ESMA
Committee publishes Bank of England's updated economic analysis of Brexit
September 4, 2019--In June 2018, the Treasury Committee asked HM Treasury, the Bank of England and the Financial Conduct Authority to produce analysis of the impact of Brexit in differing scenarios, and in good time before Parliament came to vote on the eventual Brexit deal.
Letter from Bank of England Governor to Chair
Treasury Committee
The Committee received and published the analysis in November 2018. In December, the Committee used the analysis to produce a Report on the Withdrawal Agreement. It stated that the Government had failed to provide analysis of several important scenarios, including short-term analysis of the fiscal, regional, sectoral and employment impacts of various Brexit scenarios. It concluded, therefore, that the Government's economic analysis was not fully sufficient to inform the vote in Parliament.
view more
Source: parliament.uk
ESMA Newsletter-NO. 7
September 4, 2019--ESMA.s newsletter is back, we hope you all had a relaxing summer as we look ahead to a busy September. This month, two important consultations will close and the application deadline for data experts to join our industry advisory group is approaching.
Also, in the seventh edition, we catch up on the full list of publications from July and August and highlight where ESMA staff will be speaking this month.
view
Source: ESMA
Verbund to replace Andritz in Austrian ATX five, leading Austrian index ATX to remain unchanged
September 3, 2019--The semi-annual review of the Austrian leading index ATX neither results in changes to the composition nor the free float factors. Verbund AG replaces Andritz AG in the ATX five, which comprises the five largest Austrian listed companies.
The power producer overtook the technology group in plant construction in terms of free float capitalization. The five largest companies on the Vienna Stock Exchange are: Erste Group AG, OMV AG, Verbund AG, Raiffeisen Bank International AG and voestalpine AG.
view more
Source: wienerborse.at
Esma Strengthens Liquidity Stress Tests for Investment Funds
September 2, 2019--The European Securities and Markets Authority (ESMA) has published today its final guidance regarding liquidity stress tests of investment funds- applicable to both Alternative Investment Funds (AIFs) and Undertakings for the Collective Investment in Transferable Securities (UCITS).
ESMA's guidelines require fund managers to stress test the assets and liabilities of the funds they manage. This includes redemption requests by investors which are the most common and important source of liquidity risk and could also impact financial stability. Managers of AIFs and UCITS must be aware of the liquidity risk of the funds they manage and use stress testing as a tool to mitigate this risk.
view more
Source: ESMA
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.