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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
Forecasts for the UK economy: December 2018
December 19, 2018--A comparison of independent forecasts for the UK economy in December 2018.
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Source: HM Treasury
ESMA updates its Q&As regarding the Benchmark Regulation
December 19, 2018--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) on the Benchmarks Regulation (BMR).
The updated BMR Q&As provide new clarifications regarding the following topic:
Methodology and input data: parameters to be considered as input data
The purpose of these Q&As is to promote common supervisory approaches and practices in the application of BMR. It aims at providing investors and other market participants with clarifications on the applicable requirements. ESMA will periodically review these Q&As and update them where required.
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Source: ESMA
ESAs publish joint EMIR STS standards
December 19, 2018--The European Supervisory Authorities (ESAs) published today two joint draft Regulatory Technical Standards (RTS) to amend the RTS on the clearing obligation and risk mitigation techniques for non-cleared OTC derivatives.
These standards provide a specific treatment for simple, transparent and standardised (STS) securitisation to ensure a level playing field with covered bonds. They are required for the proper implementation of the European Market Infrastructure Regulation (EMIR) and will amend the current...
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Source: ESMA
Monday Morning Memo: Review of the European ETF Market, November 2018
December 17, 2018--The promoters of ETFs in Europe enjoyed net inflows for November. These inflows led, in combination with a positive performance of the underlying markets, to increased assets under management in the European ETF industry.
In more detail, the assets under management in the European ETF industry increased from €657.1 bn as of October 30, 2018, to €666.6 bn at the end of November. The decrease of €9.5 bn for November was driven by the performance of the underlying markets (+€5.5 bn), while net sales contributed inflows of €3.9 bn to assets under management in the European ETF segment.
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Source: Detlef Glow, Head of EMEA Research, Lipper
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