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Monday Morning Memo: Review of the European ETF Market-2018
February 11, 2019--The year 2018 was a tough year for the European fund industry. Despite headwinds from the markets and outflows from their actively managed peers, the promoters of ETFs in Europe enjoyed net inflows in every single month of the year 2018.
These inflows, however, were not able to offset the negative impact from the underlying markets. As a result, the assets under management in the European ETF industry decreased from €656.8 bn as of December 31, 2017, to €633.1 bn at the end of December 2018. As mentioned above, the decrease of €23.7 bn for 2018 was driven by the performance of the underlying markets (-€65.8 bn), while net sales contributed inflows of €42.2 bn to assets under management in the European ETF segment.
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Source: Refinitiv
Traders eye 'bad trade' in Swiss franc flash fall
February 11, 2019--Currency abruptly dropped early in the Asian trading day
The Swiss franc is the latest currency to have gone bump in the night.
At the point where the week's global trading got under way in Asia, the euro abruptly shot up one whole point from SFr1.1325 before immediately dropping back down. The dollar made a similar move.
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Source: FT.com
ESMA report finds investment product performance highly impacted by charges
January 10, 2018--The Report covers Undertakings for Collective Investment in Transferable Securities (UCITS), Alternative Investment Funds sold to retail investors (retail AIFs) and Structured Retail Products (SRPs).
The analysis complements ESMA's risk assessment, supervisory convergence and investor protection work, and contributes to the European Commission's project on cost and performance of investment products under the Capital Markets Union Action Plan.The analysis complements ESMA's risk assessment, supervisory convergence and investor protection work, and contributes to the European Commission's project on cost and performance of investment products under the Capital Markets Union Action Plan.
view the ESMA annual statistical report on performance and costs of retail investment products in the EU
Source: ESMA
How London won the race for the renminbi
February 8, 2019--The city's charm offensive has paid off, with daily orders averaging $73bn in October
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Source: FT.com
ESMA publishes list of thresholds below which an EU prospectus is not required
February 8, 2019--The European Securities and Markets Authority (ESMA) has published today a document listing the thresholds below which an offer of securities to the public does not need a prospectus in the various Member States of the European Union (EU).
ESMA has drawn up this document to create transparency around the regimes adopted across the EU.
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Source: ESMA
Flow Traders reports strong finish to a record year 2018
February 8, 2019--Flow Traders N.V. (Euronext: FLOW) announces its unaudited 4Q18 results:
4Q18 ETP Value Traded was up 49% Q-o-Q to &euro273bn. This resulted in a 31% Y-o-Y increase, compared to a 34% Y-o-Y increase in market ETP Value Traded following market developments in the US
4Q18 Net Trading Income (NTI) was up 75% Q-o-Q to €74.1m, resulting in a record FY18 NTI of €383.4m
4Q18 fixed costs grew 6% Q-o-Q, including a one-off US office rent charge, resulting in 7% Y-o-Y growth in fixed costs in FY18
FTEs grew 10.7% Y-o-Y to 436 as at the end of December 2018
4Q18 EBITDA margin reached 46%, leading to a FY18 EBITDA margin of 52%
4Q18 Net Profit amounted to €25.9m, resulting in a FY18 Net Profit of €160.9m, and a FY18 EPS of €3.46
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Source: Flow Traders
ESMA publishes its 2019 Risk Assessment Work Programme
February 7, 2019--The European Securities and Markets Authority today publishes its Risk Assessment Work Programme , providing an overview of the analytical, research, data and statistical activities that ESMA will carry out in 2019.
ESMA's 2019 risk assessment agenda is focused on further developing ESMA's proprietary data sources and their analytical exploitation:
Market Data-as market data collected under its AIFMD, MiFID and EMIR mandates and others becomes available, ESMA is-in cooperation with the National Competent Authorities (NCAs)-finalising the framework for their processing, management and analysis.
Swiss Stock Exchange SIX Plans Blockchain Platform in H2 view more New EU derivatives rules to reduce costs and regulatory burdens view more Launch of the First Polish ETF AgioFunds TFI is the ETF's issuer. Dom Maklerski BOŚ is the offeror and market maker. Beta Securities Poland participates as co-ordinator in the development of Poland's ETF market. view more If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: ESMA
February 7, 2019--Switzerland's top stock exchange, SIX, aims to roll out a blockchain platform to speed up trading later this year.
Reuters reported Feb. 6 that SIX chairman Romeo Lacher said the planned new SIX Digital Exchange (SDX) will initially operate alongside the existing SIX platform.
Source: coindesk.com
February 7, 2019--The EU Parliament and states reached political agreement Tuesday on rules applying to non-financial counterparties, small financial counterparties and pension funds using financial derivative products.
The targeted reform of the European Market Infrastructure Regulation (EMIR) introduces simpler rules for derivatives, which is expected to reduce costs and regulatory burdens for market participants.
Source: eubusiness.com
January 7, 2019--A new WIG20TR ETF has been added to GPW's offer of financial products
The new Beta ETF is the first Polish ETF listed on GPW
Beta ETF WIG20TR, the first 100% Polish ETF in the history of the Warsaw Stock Exchange, established under Polish law, developed and managed by Polish experts, has been newly listed on GPW’s Main Market today.
Beta ETF WIG20TR, the first 100% Polish ETF in the history of the Warsaw Stock Exchange, established under Polish law, developed and managed by Polish experts, has been newly listed on GPW’s Main Market today.
Source: GPW Main Market
