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S7P Dow Jones Indices-Index Dashboard: S&P Europe 350(R) Factor Indices Q1, 2019
April 3, 2019--European equities got off to a strong start in 2019, as the first quarter of 2019 began with a bullish bounce, recovering from the late 2018 pullback.The S&P Europe 350 gained 13% in Q1.
All of our core European factor indices enjoyed gains in the first quarter.Benefiting from the risk-on trend, the standout performer in Q1 was the S&P Europe 350 Momentum, which posted a sizeable 17% total return.
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Source: S&P Dow Jones Indices
ESMA updates its Q&As on MiFID II and MiFIR transparency topics
April 2, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding market structures and transparency issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
The new Q&As provide clarification on the following topics:
Determination of the turnover to be used for the average value of transactions (AVT) calculation;
Money Market Instruments (MMIs);
Impact for systematic internalisers of an instrument changing liquidity status in between the systematic internaliser determination dates;
Reporting of prime brokerage transactions;
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Source: ESMA
EU financial regulators highlight risks of a no-deal Brexit and asset price volatility
April 2, 2019--The European Union's (EU) banking, insurance, pensions and securities sectors continue to face a range of risks, the latest report on "Risks and Vulnerabilities in the EU Financial System" published today by the Joint Committee of the European Supervisory Authorities (ESAs) shows.
The 2019 Spring ESAs' report highlights the following risks as potential sources of instability:
Uncertainties around the terms of the United Kingdom's withdrawal from the European Union.
Further repricing of risk premia and asset price volatility, which could be aggravated in conjunction with a less favourable macro-economic environment and the materialisation of a no-deal Brexit scenario.
view the Joint ESA report on Risks and Vulnerabilities in the EU Financial System report
Source: ESMA
New Amundi ETF on Xetra: Sustainable Emerging Markets Companies
April 2, 2019--A new Amundi Exchange Traded Fund has been available for trading on Xetra and Bö'rse Frankfurt since Tuesday.
With the Amundi Index MSCI Emerging Markets SRI UCITS ETF DR investors can invest in companies from developing countries that meet high sustainability criteria.
The benchmark index comprises companies with high and medium market capitalisation and is designed to measure the performance of securities considering environmental, social and societal conditions. The index excludes companies from the nuclear, defence, adult entertainment, alcohol and tobacco industries.
The ETF reinvests company dividends.
Name:Amundi Index MSCI Emerging Markets SRI UCITS ETF DR
Asset class: Equity Index
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Source: Deutsche Börse Cash Market
HANetf & KMEFIC announce Kuwait ETF debut
April 2, 2019--First Middle Eastern Asset Manager to sponsor an UCITS ETF
KUW8 is the only UCITS ETF to provide targeted Kuwaiti equity exposure
Fourth ETF to launch via HANetf's unique ETF white-label solution
HANetf, Europe's first independent white-label ETF platform, is delighted to announce that the KMEFIC FTSE Kuwait Equity UCITS ETF (KUW8) will launch on London Stock Exchange, Borsa Italiana and XETRA in April.
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Source: HANetf
Major Swiss Stock Exchange SIX Lists XRP Exchange Traded Product
April 2, 2019--According to its official website, Switzerland's principal stock exchange, SIX, has listed a Ripple (XRP)-based Exchange Traded Product (ETP) today, April 2.
As Cointelegraph reported in March, the exchange had already confirmed that it was planning to list the product, dubbed Amun Ripple (AXRP). Hany Rashwan, co-founder and CEO of Amun-the cryptocurrency derivative development company behind AXRP -at the time claimed that this is the first such product on the market:
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Source: cointelegraph.com
Monday Morning Memo: The EU action plan on financing sustainable growth has been hollowed by the European Parliament
April 1, 2019-- The European Commission has started an ambitious initiative with the commission action plan on financing sustainable growth. Even as this initiative was welcomed at the top level of the wider financial industry, there was some resistance with regard to the reporting duties for asset managers and mutual funds mentioned in the proposal.
As a consequence of this resistance, the European Parliament dropped some of the more wide-ranging amendments favorable to conventional asset managers at a vote on March 28, 2019.
Even as the members of the European Parliament (MEPs) voted for a unified classification system—the so-called taxonomy of sustainable economic activities-this new taxonomy won’t be used as a reporting standard for all funds. Instead of forcing all kind of funds to disclose how their portfolios are positioned with regard to the taxonomy, the MEPs decided only funds which claim they are investing with an environmental, social and governance (ESG) or socially responsible investing (SRI) approach will have to report how the fund is positioned by using the taxonomy.
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Source: Refinitiv
Cash markets achieve turnover of 130.3 billion euros in March
April 1, 2019--Bayer AG most traded DAX share
Deutsche Börse's cash markets generated a turnover of €130.3 billion in March (previous year: €165.1 billion).
€117.8 billion were attributable to Xetra (previous year: €152.2 billion), bringing the average daily volume to €5.6 billion.
Trading volume on Börse Frankfurt was €2.9 billion (previous year: €3.7 billion) and on Tradegate Exchange €9.6 billion (previous year: €9.2 billion).
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Source:Deutsche Börse
IMF-Switzerland: Staff Concluding Statement of the 2019 Article IV Mission
April 1, 2019--The renewed prospect of global "low-for-long" interest rates and the possibility of a resurgence in international economic and political risk could trigger safe haven pressures on the Swiss franc and push inflation into negative territory.
To increase policy space, the current balance between the utilization of monetary and fiscal policies—stretched monetary policy and underutilized fiscal policy—should be adjusted. Assigning a greater role to fiscal policy, including by increasing public sector spending within the existing framework, would better cushion the economic cycle, support longer-term growth, and prepare the economy for demographic and technological change.
