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ETF growth surges on the back of European volatility, social conscience
March 1, 2019--Research from Greenwich associates finds ETF allocations grew by 50% in Europe last year, with further growth expected in 2019.
Allocations in exchange-traded funds (ETFs) by institutional firms grew by 50% in Europe last year, according to research from Greenwich Associates.
A survey of 127 institutional investors found that ETFs now account for 15% of total assets among that group, despite increased market volatility throughout Europe over the last year.
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Source: thetradenews.com
Cash markets achieve turnover of 116.0 billion euros in February
March 1, 2019--Deutsche Börse's cash markets generated a turnover of €116.0 billion in February (previous year: €158.5 billion). €104.0 billion were attributable to Xetra (previous year: €143.4 billion), bringing the average daily volume to €5.2 billion.
Trading volume on Börse Frankfurt was €2.8 billion (previous year: €4.3 billion) and on Tradegate Exchange €9.2 billion (previous year: €10.8 billion). Split by asset classes, equities amounted to €104.3 billion in the entire cash market. Trading in ETFs/ETCs/ETNs generated a turnover of €10.1 billion. Turnover in bonds was €0.4 billion, in certificates €1.0 billion and in funds €0.1 billion. The DAX share with the highest turnover on Xetra in February was Wirecard AG with €6.8 billion.
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Source: Deutsche Börse Group
State Street goes big with new global equity ETF
March 1, 2019--State Street Global Advisors is targeting 'major' global equity opportunities with the launch of a broad ETF aimed at unlocking returns from across $40 trillion-worth of investable assets.
SSGA has launched a SPDR MSCI World Ucits ETF which is available on the Xetra exchange. It will launch on the London Stock Exchange, Borsa Italiana and Euronext on 4 March and on SIX Swiss Exchange in due course.
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Source: citywireselector.com
ESMA registers DTCC Data Repository (Ireland) PLC as trade repository
March 1, 2019--The European Securities and Markets Authority (ESMA), the EU supervisor of trade repositories (TRs), has registered today DTCC Data Repository (Ireland) PLC as a TR under the European Market Infrastructure Regulation (EMIR), with effect from 1 March 2019.
DTCC Data Repository (Ireland) PLC is based in Ireland and will cover the following derivative asset classes: commodities, credit, foreign exchange, equities and interest rates.
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Source: ESMA
ESMA to recognise the UK Central Securities Depository in the event of a no-deal Brexit
March 1, 2019--The European Securities and Markets Authority (ESMA) has today announced that, in the event of a no-deal Brexit, the Central Securities Depository (CSD) established in the United Kingdom (UK)-Euroclear UK and Ireland Limited-will be recognised as a third country CSD to provide its services in the European Union (EU).
ESMA has adopted this recognition decision in order to allow the UK CSD to serve Irish securities and to avoid any negative impact on the Irish securities market. ESMA has previously communicated that its Board of Supervisors supports continued access to the UK CSD.
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Source: ESMA
MiFID II: ESMA makes available the results of the annual transparency calculations for equity and equity-like instruments
March 1, 2019--The European Securities and Markets Authority (ESMA) has today made available the results of the annual transparency calculations for equity and equity-like instruments.
ESMA has today started to make the annual transparency calculations for equity and equity-like instruments available.
Those calculations include:
the liquidity assessment as per Articles 1 to 5 of CDR 2017/567;
the determination of the most relevant market in terms of liquidity (MRM) as per Article 4 of CDR 2017/587 (RTS 1);
the determination of the average daily turnover (ADT) relevant for the determination of the pre-trade and post-trade large in scale (LIS) thresholds;
the determination of the average value of the transactions (AVT) and the related the standard market size (SMS);
the determination of the average daily number of transactions on the most relevant market in terms of liquidity relevant for the determination of the tick-size regime.
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Source: ESMA
Flow Traders publishes its 2018 Annual Report and Financial Statements
February 28, 2019--Flow Traders N.V. (Euronext: FLOW) is pleased to announce today's publication of its 2018 Annual Report and 2018 Financial Statements.
Flow Traders plans to hold its annual AGM on 8 May 2019. Other documentation for the AGM, including convening notice and proxy voting form, will be made available no later than 27 March 2019.
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Source: Flow Traders
Handelsbanken Fonder and Xact to license Solactive ISS ESG Screened Index Series
February 28, 2019--Solactive is pleased to announce that Handelsbanken's two fund management companies, Handelsbanken Fonder AB (active management) and Xact Kapitalförvaltning AB (passive management) license several ESG indices for benchmarking purposes, effectively switching index providers for 20 equity and fixed income indices over the next few months.
Handelsbanken Fonder and Xact are Solactive's first clients to adopt its recently established Solactive ISS ESG Screened Index Series, an index family that aims to track various size and regional segments of the global capital markets, including only companies operating with market standards on ESG controversy screens.
To create the new index series, Solactive teamed up with ESG Provider ISS ESG, which provides independent and high-quality ESG data and analytics.
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Source: Solactive
In Turbulent Times, European Institutions Turn to ETFs
February 28, 2019--Allocations to exchange-traded funds by institutions currently investing in ETFs increased by 50% in 2018, totaling 15% of total assets among the 127 institutional investors participating in Greenwich Associates most recent European Exchange-Traded Funds Study.
That growth was driven in large part by three key trends:
ETFs thrive in volatility: European institutions in 2018 were repositioning their portfolios for a turbulent investment environment featuring the prospect of European Central Bank (ECB) rate hikes and a host of geopolitical risks. The implementation of these changes increased demand for ETFs. Institutions say ETFs' speed of execution, single-trade diversification, liquidity, and other characteristics make them versatile tools for portfolio construction.
Index revolution: European institutions in search of low-cost beta continued shifting assets from active management to index strategies last year. As they did so, many used ETFs as their preferred vehicle for index exposures. This trend will likely continue in 2019, since institutions' allocations to index strategies still fall well short of what they consider optimal levels.
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Source: Greenwich Associates.
ESMA TRV: Political uncertainty amid growth slowdown weighs on market sentiment
February 28, 2019-EU financial markets are increasingly nervous, reflected in rising volatility, the European Securities and Markets Authority (ESMA) said today in its latest Trends, Risks, and Vulnerabilities (TRV) Report (No 1.2019).
Uncertainty related to Brexit, amid weakening growth prospects, global trade tensions, and reduced global monetary policy stimulus have contributed to market risk remaining very high.
The fourth quarter of 2018 saw increasing volatility on equity and sovereign bond markets, a decrease in equity prices, continued repricing on corporate and sovereign bond markets, and regional developments leading to localised sell-offs and increased short-selling activity.
view the ESMA Report on Trends, Risks and Vulnerabilities
Source: ESMA