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FCA publishes its second set of rules following its Asset Management Market Study
February 4, 2019--The Financial Conduct Authority (FCA) has published new rules and guidance to improve the quality of the information available to consumers about the funds they invest in.
The asset management industry plays an important role in the UK's economy. Asset managers seek returns for investors by investing in a variety of assets.
Over £1 trillion is managed for individual investors and £3 trillion on behalf of UK pension funds and other institutional investors. The FCA's asset management market study presented evidence of weak price competition in many areas of the asset management industry. This means lower returns for savers, pensioners and other investors.
The FCA has acted to tackle the issues found. In April 2018, the FCA introduced new rules to ensure fund managers act as agents of investors in their funds.
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Source: fca.org.uk
SIX Swiss Exchange ETF Market Report: ETF Market Report: 4th quarter 2018
February 1, 2019--This report provides detailed figures regarding the performance of the ETF segment of SIX.
There were more losers than winners on the financial markets in the fourth quarter. Despite the generally difficult circumstances on the financial markets, the Swiss ETF market continued to develop dynamically, as the latest ETF Market Report shows.
For example, the number of new entries rose to 58 in the fourth quarter after 37 new products in the previous quarter.
Higher turnover
Trading turnover increased by 42% quarter on quarter to CHF 25.5 billion. All asset categories saw an increase in turnover. The strongest growth was posted by the commodities asset class at 46.56%, followed by the equities asset class at 43.75%. Higher turnover also resulted in a larger number of trades.
view the SIX Swiss ETF Market Report 4. Quarter 2018
Source: Six Swiss Exchange
ESMA UPDATES ITS Q&AS ON MIFID II AND MIFIR MARKET STRUCTURE AND TRANSPARENCY TOPICS
February 1, 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:
APA reports to competent authorities and ESMA; and,
Identification of high frequency trading techniques.
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Source: ESMA
The Spanish Exchange traded 41.40 euros bn in January
February 1, 2019--Growth of 6,8% in trading volume in what is the best month since October
Trading in IBEX 35 Futures increased 4.8%
Fixed Income markets trading soared 240,8%
The Spanish Exchange traded 41.40 billion euros in Equities in January, 6.8% more than in the previous month and the best month since October, although it was 18.6% lower than in January 2018. The number of trades stood at 3.6 million, up 15% from the previous month.
The trading volume in the ETF segment in January reached 203 million euros, 11.6% more than in the previous month and down 43.1% from the same month a year earlier.
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Source: Bolsa de Madrid
Cash markets achieve turnover of 123.4 billion euros in January
February 1, 2019--Deutsche Börse's cash markets generated a turnover of €123.4 billion in January (previous year: €156.5 billion).
Of the €123.4 billion, €112.3 billion were attributable to Xetra (previous year: €140.4 billion), bringing the average daily Xetra trading volume to €5.1 billion.
Trading volume on Börse Frankfurt was €2.9 billion (previous year: €4.5 billion) and on Tradegate Exchange €8.2 billion (previous year: €11.6 billion).
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Source: Deutsche Börse Group
Amundi steps up SRI push with low-cost EM ETF
February 1, 2019--Amundi ETF has boosted its SRI range with an emerging markets strategy, the firm has announced.
The Amundi Index MSCI Emerging Markets SRI-Ucits ETF has an ongoing charge of 0.25% and tracks the MSCI Emerging Markets SRI index.
It sits within the French firm's wider SRI-focused ETF offering, which includes three equity ETFs tracking the MSCI Europe SRI, MSCI USA SRI and MSCI World SRI indices.
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Source: citywireselector.com
ESMA Q&As clarify prospectus and transparency rules in case of no-deal Brexit
January 31, 2019--The European Securities and Markets Authority (ESMA) has issued today three Questions and Answers (Q&As) regarding the Prospectus Directive (PD ) and the Transparency Directive (TD ).
The Q&As clarify the application of certain provisions in these Directives in case the UK withdraws from the European Union (EU) on 29 March 2019 with no withdrawal agreement in place (no-deal Brexit). These Q&As will only apply in case of a no-deal Brexit.
The Q&As provide the following clarifications in the event of a no-deal Brexit:
When issuers of equity securities and non-equity securities below 1,000 EUR who currently have the UK as their PD home Member State choose a new home Member State, they should choose between the EU27 Member States / EEA EFTA States in which they have activities after 29 March 2019 (either offers/admissions made after the withdrawal or admissions made before the withdrawal which continue after the withdrawal).
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Source: ESMA
London Stock Exchange to buy 278.5m euro stake in Euroclear
January 30, 2019--The London Stock Exchange (LSE) has expanded its reach in Europe with an agreement today to acquire a nearly five per cent stake in clearing house Euroclear.
The LSE said today it will buy an aggregate 4.92 per cent stake in Euroclear's share capital for €278.5m (£241.9 million).
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Source: cityam.com
SocGen Plans Investment Bank Job Cuts After Trading Slump
January 30, 2019--Societe Generale SA is making a last-ditch effort to boost its performance after a trading slump threatened Chief Executive Officer Frederic Oudea's targets.
The French bank--recovering from regulatory probes that cost it billions of euros and a management reshuffle--plans to cut jobs in less profitable investment banking businesses to save at least 100 million euros ($114 million) annually, people with knowledge of the matter said.
The extent of the cuts may be made public as soon as next week, they said.
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Source: finance.yahoo.com
Amundi recruits UK ETFs head from BlackRock
French asset manager recruits from market leader to boost presence in expanding index-tracking sector
January 30, 2019--Amundi, the French asset manager, has hired BlackRock iShares' UK head of institutional sales in a push to boost its presence in the UK market.
Ashley Fagan has joined Amundi as head of ETF, indexing and smart-beta development for UK and Ireland. She will also take a role in coordinating client relationships across Amundi's ETF business, the company said in a statement.
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Source: fnlondon.com
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