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European Commission-Summer 2018 Interim Economic Forecast: Resilient Growth amid increased uncertainty
July 12, 2018--Growth is set to remain strong in 2018 and 2019, at 2.1% this year and 2% next year in both the EU and the euro area.
However, after five consecutive quarters of vigorous expansion, the economic momentum moderated in the first half of 2018 and is now set to be 0.2 percentage points lower in both the EU and the euro area than had been projected in the spring.
Growth momentum is expected to strengthen somewhat in the second half of this year, as labour market conditions improve, household debt declines, consumer confidence remains high and monetary policy remains supportive.
view the Summer 2018 Interim Economic Forecast: Resilient growth amid increased uncertainty
Source: European Commission
More than 1,300 ETFs on Xetra
July 12, 2018--With the two new iShares ETFs launched on Xetra and Börse Frankfurt today, the number of products listed in the ETF segment of Deutsche Börse has exceeded the 1,300 mark for the first time. Since the beginning of the year alone, there have been 115 new listings. The iShares MSCI USA SRI UCITS ETF EUR Hedged (Dist) ETF enables to invest in US equity companies with a particularly high ESG rating.
The benchmark index includes companies from the MSCI USA that are well rated in the areas of environmental, social and governance. Companies involved in the production of weapons, tobacco, genetically modified plants or nuclear power are excluded.
Name: iShares MSCI USA SRI UCITS ETF EUR Hedged (Dist)
Asset class: Equity ETF
ISIN: IE00BZ173V67
Ongoing charges: 0.33 %
Distribution policy: distributing
Reference index: MSCI USA SRI Net Total Return USD Index
The iShares USD Treasury Bond 3-7yr UCITS ETF USD (Dist) ETF gives investors the opportunity to participate in the performance of euro-denominated US investment grade government bonds.
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Source: Deutsche Börse Cash Market
-ESMA updates Q&As on MiFID II and MiFIR investor protection and intermediaries
July 12, 2018-The European Securities and Markets Authority (ESMA) has updated its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
The European Securities and Markets Authority (ESMA) has updated its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
The new Q&As are on the topics of inducements (research) and provision of investment services by third country firms. The overall MiFID II Q&A provide clarifications on the following topics:
Best execution;
Suitability and appropriateness;
Recording of telephone conversations and electronic communications;
Post-sale reporting;
Record keeping;
Investment advice on an independent basis;
Inducements (research);
Information on charges and costs;
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ESMA CONSULTS ON THE CLEARING OBLIGATION UNDER EMIR view the Consultation Paper (CP) on the Clearing Obligation under EMIR
LSE ETP June 2018 Monthly Report JP Morgan launched 4 ETFs which give exposure to fixed income in Europe, Great Britain and USA.
Franklin Liberty Shares launched 2 Fixed Income ETFs which give exposure to both Europe and USA. view more Euronext goes live with new cash markets trading platform view more Monday Morning Memo: Review of the European ETF Market, June 2018 With regard to the overall number of products, it was not surprising that equity funds (€471.5 bn) held the majority of the assets, followed by bond funds (€156.5 bn), commodity products (€21.3 bn), "other" funds (€6.5 bn), money market funds (€3.4 bn), mixed-asset funds (€0.7 bn), and alternative UCITS products (€0.4 bn). view more Monday Morning Memo: Spotlight on the Concentration at the Promoter Level in the European ETF Industry But are these fears of increasing concentration actually justified, and is the European ETF industry really in a consolidation mode?
At first look both assumptions seem to be correct, since this recent takeover means there is one fewer active promoter in the European market. But, as I have written in several market reviews, I don’t see a real consolidation. There are always new market entries into the European ETF market, and real consolidation would mean the number of ETF promoters would actually shrink over a longer period, 12 months or even longer. view more If you are looking for a particuliar article and can not find it, please feel free to contact us
The Q&A provides clarification on the application of the temporary product intervention measures on clients established outside the Union and non-Union nationals.
Source: ESMA
July 11, 2018--The European Securities and Markets Authority (ESMA) has today published a Consultation Paper (CP) on the Clearing Obligation under EMIR.
The CP deals with an amending draft RTS regarding the treatment of intragroup transactions with a third country group entity. ESMA's consultation seeks stakeholders' views on a proposed extension of the temporary intragroup exemption and is open for feedback until 30 August 2018.
Source: ESMA
July 10, 2018--Listings
17 new ETFs were listed in June 2018, making a total of 188 new ETPs listings in 2018.
There are now 1078 ETFs (available as 1,591 lines through multi-currency offerings) and 487 ETCs/ETNs (available as 579 lines) on our London market.
Invesco launched 2 ETFs including The INVESCO MSCI Saudi Arabia UCITS ETF which offers exposure to the MSCI Saudi Arabia 20/35 Index which is made up of 35 members which combine cover 85% of the free float-adjusted market capitalisation in Saudi Arabia.
Source: London Stock Exchange Group
July 10, 2018--Optiq platform goes live providing access to trading across all asset classes on Euronext's exchanges.
Pan-European exchange Euronext has launched its new cash markets trading platform for equities, structured products, exchange-traded funds (ETFs) and fixed income.
Source: thetradenews.com
July 16, 2018--The promoters of ETFs in Europe enjoyed net inflows for June. However, these inflows were not enough to offset the negative market impacts. As a result the assets under management in the European ETF industry decreased from €665.8 bn (as of May 3, 2018) to €660.4 bn at the end of June 2018.
The decrease of €5.4 bn for June was driven by the performance of the underlying markets (-€6.3 bn), while net sales contributed a positive €0.9 bn to the assets under management in the European ETF segment.
Source: Detlef Glow, Thomson Reuters
July 9, 2018--After the announcement on July 3, 2018, of the takeover of the Commerzbank Equities Markets and Commodities (EMC) unit by Societe Generale, some market observers are speaking about possible further consolidation in the European ETF industry.
There are also concerns that the concentration of the market is increasing further, since this takeover means that ComStage (the ETF promoter of Commerzbank) might now become integrated into Lyxor ETF (the ETF promoter of Societe Generale).
Source: Thomson Reuters
