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What drives the use of CDS by EU investment funds?
September 20, 2018--The European Securities and Markets Authority (ESMA), in a study carried out on data reported under EMIR, finds that funds that are part of a large group are more likely to use credit default swaps (CDS).
A high reliance on CDS is seen, in particular, among fixed income funds that invest in less liquid markets, and alternative funds that implement hedge-fund-like strategies. The main driver of net CDS exposures is fund size.
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Source: ESMA
"Wild West" crypto-assets should be regulated
September 19, 2018--The Treasury Committee publishes a unanimously-agreed Report on crypto-assets for its Digital Currencies inquiry.
Key findings
Regulation needed for "Wild West" crypto-asset market
Problems include volatile prices, hacking vulnerabilities, minimal consumer protection, and anonymity aiding money laundering
Blockchain is currently slow, costly and energy-intensive, but there is potential for data storage uses
The ambiguity of the UK Government and regulators' position is clearly not sustainable
Regulation could improve customer outcomes, enable sustainable growth, and reduce certain risks
view the full report: Crypto-assets Forecasts for the UK economy: September 2018 Exclusive: Lyxor launches robotics and AI ETF view more IMF United Kingdom: Staff Concluding Statement of the 2018 Article IV Mission view more Theresa May just warned of a 'no-deal Brexit.' Here are some of the doomsday scenarios. view more Mifid II prompts 'huge change' in research marketplace Ireland rebuffs calls to relax rules on exchange traded funds view more AFME and PwC identify technology and innovation trends and challenges for Europe's investment banks
Source: parliament.uk
September 19, 2018--Forecasts for the UK economy is a monthly comparison of independent forecasts.
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Source: Deutsche Börse Cash Market
September 18, 2018-Lyxor Asset Management is tapping into Société Générale's thematic research to launch a new robotics and AI ETF, the group told Citywire Selector.
The Lyxor Robotics and AI Ucits ETF holds 150 stocks spanning all cap ranges, selected from a universe of 210 stocks based on their combined rankings for R&D expenditures/net sales, return on invested capital and three-year sales growth.
Source: citywireselector.com
September 17, 2018--Outlook and Risks
Despite strong policy frameworks and implementation, growth has moderated since the European Union referendum in June 2016. Uncertainty over the terms of the EU withdrawal has weighed on private sector activity. Above-target inflation following the sharp post-referendum sterling depreciation has slowed real income and consumption growth.
Business investment has been lower than would be expected in the context of robust global growth and favorable financing conditions. The softening of domestic demand was partially offset by a higher contribution from net exports, supported by weaker sterling and strong external demand. Overall, growth fell to about 1¾ percent in 2016-17, moving the United Kingdom from the top to near the bottom of the G7 growth tables. The employment rate, however, continues to reach record highs.
Source: IMF
September 17, 2018--When it was built a quarter-century ago, the Eurotunnel was hailed as an engineering marvel. The game-changing undersea rail link between Britain and the European continent helped spark our global age of frictionless, "just-in-time" trade and manufacturing.
But the imminent departure of Britain from the European Union-just six months away-threatens to undercut one of the most elaborate transit networks and business models on the planet, disrupting daily life for companies and people alike.
Source: washingtonpost.com
September 17, 2018--Fund managers spend substantially less if they absorb cost of broker notes
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Source: FT.com
September 14, 2018--Regulator's stance will stall industry efforts to develop more active ETFs.
Ireland's central bank has rebuffed calls for a relaxation of the rules relating to exchange traded funds that would have made it easier for investment managers to launch actively managed ETFs.
The Central Bank of Ireland, which oversees financial regulation, said it had decided against making any changes in the longstanding requirement for product providers to disclose details of the securities held in ETFs on a daily basis.
Source: FT.com
September 13, 2018--The Association for Financial Markets in Europe (AFME) and PwC have today published a new report on current trends in technology and innovation and their impact on the investment bank of the future.
The report, entitled 'Technology and Innovation in Europe's Capital Markets' examines the key trends which are expected to impact the industry over the next five years, providing a vision for the future and identifying the implications for the industry and for future policymaking.