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ESMA updates its Q&As on MiFID II and MiFIR commodity derivatives topics
January 4, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on MiFID II and MiFIR commodity derivatives topics. These Q&As provide clarification on issues related to the MiFID II/MiFIR regime for commodity derivatives, including on position limits, position reporting and ancillary activity.
The new answer is provided on the following topic:
ESMA clarifies the correct application of the field "price multiplier" when reporting electricity contracts, in order to mitigate the risk of different contracts receiving the same ISIN.
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Source: ESMA
ESMA updates its Q&As on MiFID II and MiFIR transparency topics
January 4, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding transparency issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
The new Q&As provide clarification on the following topics:
Publication of request for market data (RFMD) transactions;
Default transparency regime for equity instruments (amendment to an existing Q&A); and,
Default LIS and SSTI thresholds for bonds.
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Source: ESMA
New Ossiam Active ETFs on Xetra: Companies with good sustainability ratings
January 3, 2019--The two Ossiam World ESG Machine Learning UCITS ETFs offer investors the opportunity to participate in an active investment strategy with equities of large and medium-sized companies from developed countries worldwide.
The ETF uses a rule-based quantitative model for which equities are valued on the basis of financial and ESG ratings and weighted accordingly in the ETF. The selection of companies is constantly readjusted as the applied algorithm learns from the input data. ESG stands for Environment, Social and Governance and evaluates the sustainability of the company's business activities. Investors can choose between a share class tradable in euros and a share class tradable in US dollars.
Name: Ossiam World ESG Machine Learning UCITS ETF-1A (EUR) Equity ETF
ISIN: IE00BF4Q4063
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Source: Deutsche Börse Group
Xetra-Gold holdings rise to 181.47 tonnes at year-end
January 3, 2019--The gold holdings of the exchange-traded bearer bond Xetra-Gold (ISIN: DE000A0S9GB0) increased to 181.47 tonnes at the end of the year 2018. This is a plus of more than seven tonnes over the course of the year.
At the beginning of 2018, 174.24 tonnes of gold were stored in the central vault for German securities in Frankfurt. The assets under custody currently amount to 6.6 billion euros. Xetra-Gold is thus the leading physically backed gold security in Europe. Xetra-Gold holdings always increase when investors buy Xetra-Gold shares via the stock market. Exactly one gram of gold is deposited in the central safe for each share certificate.
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Source: Deutsche Börse Group
Cash Market achieves highest trading volume since 2008Cash Market achieves highest trading volume since 2008
January 2, 2019--In 2018, Cash Market of Deutsche Börse achieved an order book turnover of €1.72 trillion-the highest trading volume since 2008 and an increase of 17 per cent compared to the previous year (€1.47 trillion).
Of this amount, €1.57 trillion were attributable to Xetra, €40.11 billion to the Börse Frankfurt venue and €105.81 billion to Tradegate Exchange. The shares with the highest turnover in 2018 on Xetra (split by main indices) were Bayer AG with €75.43 billion (DAX index), Osram Licht AG with €7.41 billion (MDAX index), Puma SE with €1.92 billion (SDAX index) and Wirecard AG with €26.16 billion (TecDAX index).
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Source: Deutsche Börse Group
Germany SLOWDOWN: Merkel's economy dented as manufacturing falls at fastest rate for 4yrs
January 2, 2019--GERMANY'S economy was dented again as the manufacturing sector slowed once more with new orders falling at the fastest rate in four years, a survey showed today.
Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of the economy, tumbled to a 33-month low of 51.5 in December, down from 51.8 in November. The number is inching closer to the 50.0 level which marks a contraction
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Source: express.co.uk
The UK FCA is Investigating 18 Companies Involved in Crypto Transactions
December 31, 2018--The UK's financial regulatory body, the FCA (Financial Conduct Authority), has revealed that it is has ongoing investigations into 18 companies with respect to cryptocurrency transactions.
According to a report in the Sunday Telegraph, the FCA is concerned about risks to UK investors and has launched inquiries into 67 UK-based companies since November, with 18 still ongoing. Of the 49 cases closed, the body has issued consumer alerts regarding 39 of the businesses.
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Source: cryptoglobe.com
Euro celebrates its 20th birthday
December 31, 2018--The euro, Europe's common currency, turns 20 on 1 January 2019. Exactly 20 years ago, on 1 January 1999, 11 EU countries launched a common currency, the euro, and introduced a shared monetary policy under the European Central Bank.
The historic moment was a milestone on a journey driven by the ambition of ensuring stability and prosperity in Europe. Today, still young, the euro is already the currency of 340 million Europeans in 19 Member States. It has brought tangible benefits to European households, businesses and governments alike: stable prices, lower transaction costs, protected savings, more transparent and competitive markets, and increased trade. Some 60 countries around the world link their currencies to the euro in one way or another, and we can and are doing more to let the euro play its full role on the international scene. Other EU Member States are expected to join the euro area once the criteria are met.
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Source: European Commission
European Investors sell-off Mutual Funds in November 2018
December 27, 2018--After unexpectedly high outflows in October, European investors pulled further away from long-term mutual funds in November as the market environment and general sentiment remained negative. As a consequence, November was the seventh month in a row posting net outflows from long-term mutual funds after 16 consecutive months showing net inflows.
Real estate funds (+€0.6 bn) was the only asset type with net inflows for November, while all the other asset types in the segment of long-term mutual funds witnessed net outflows: bond funds (-€21.4 bn), alternative UCITS funds (-€11.1 bn), mixed asset funds (-€5.3 bn), equity funds (-€3.4 bn), and ”other” funds (-€1.7 bn), as well as commodity funds (-€0.3 bn).
These fund flows added up to overall net outflows of €42.6 bn from long-term investment funds for November. ETFs contributed inflows of €3.8 bn to these flows.
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Source: Refinitiv
Russia's Potential to Double its Potential Growth
December 19, 2018-In our latest semi-annual Russia Economic Report, we project growth prospects for 2018-2020 to remain modest, forecast at 1.5% to 1.8%. But annual growth rates can be misleading, as they do not reveal whether the economy is growing due to a temporary increase in demand, for example, from an increase in oil prices, or due to the productive use of fundamental factors such as labor and capital.
To differentiate between these two types of growth, economists measure "potential growth". Potential growth is the rate at which an economy can grow when all factors of production are fully utilized. Thus, in any given year, actual growth rates may be above or below the potential growth rate, depending on cyclical factors (such as changes in oil prices or short-term fiscal or monetary stimuli).
view the World Bank Russia Economic Report
Source: World Bank