Tradeweb European Exchange-Traded Funds Update-May 2018
June 15, 2018--The following data is derived from trading activity on the Tradeweb European-listed ETF platform.
ETF total traded volume
May proved to be the second strongest month on record for the Tradeweb European-listed ETF marketplace since its launch in October 2012.
Total traded volume amounted to €22.38 billion, while the proportion of transactions processed via Tradeweb’s Automated Intelligent Execution tool (AiEX) remained high at 33.2%.
Adriano Pace, head of equities (Europe) at Tradeweb, said: "As the month drew to a close, platform activity accelerated amid heightened market volatility driven by political developments in Italy and Spain. More than €6 billion was executed in the last three days of May alone, which translates into 27% of the entire monthly flow."
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Source: Tradeweb
Aquis shares jump more than 20% in trading debut
June 14, 2018--UK share trading venue Aquis Exchange saw its shares jump by more than 20 per cent on the Alternative Investment Market (Aim) in a very successful debut listing for the firm.
As the ninth largest equity trading venue in Europe, Aquis was valued at €73m prior to the listing, with shares opening at 269p.
However, the value of the shares rose to as much as 333p within the first hour of the company being on the Aim.
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Source: cityam.com
Lyxor-ETF Money Monitor-June 2018-ETF flows bounce back
June 14, 2018--European ETF market flows rebounded slightly in May. Net New Assets (NNA) rose to €1.1bn from the €668m we saw in April. Sentiment reversed again, with equity ETFs attracting most of the inflows (€1.5bn) and fixed income ETFs suffering their worst month since December 2016 (-€765m). Overall, flows remain strong but they are behind last year's record levels.
Equity ETFs enjoyed a significant rebound in May after their travails of April. US ETFs attracted just under €700m but global equities were the standout performers by far after they drew in just under €3.4bn-their best month ever. In contrast, Eurozone equities suffered outflows of €3.3bn after political and economic concerns mounted. Emerging markets also lost some of their lustre and recorded their first negative month since January last year (€-476m).
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Source: Lyxor
Monetary policy decisions
June 14, 2018--June 14, 2018--At today's meeting, which was held in Riga, the Governing Council of the ECB undertook a careful review of the progress towards a sustained adjustment in the path of inflation, also taking into account the latest Eurosystem staff macroeconomic projections, measures of price and wage pressures, and uncertainties surrounding the inflation outlook.
Monetary policy decisions
Based on this review the Governing Council made the following decisions:
First, as regards non-standard monetary policy measures, the Governing Council will continue to make net purchases under the asset purchase programme (APP) at the current monthly pace of €30 billion until the end of September 2018. The Governing Council anticipates that, after September 2018, subject to incoming data confirming the Governing Council's medium-term inflation outlook, the monthly pace of the net asset purchases will be reduced to €15 billion until the end of December 2018 and that net purchases will then end.
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Source: ECB
ESMA reports on penalties and supervisory measures under EMIR
June 13, 2018--The European Securities and Markets Authority (ESMA) has issued today its first annual report regarding supervisory measures carried out and penalties imposed by national competent authorities (NCAs) under the European Market Infrastructure Regulation (EMIR).
The report focuses in particular on the supervisory actions undertaken by NCAs, their supervisory powers and the interaction between NCAs and market participants when monitoring the compliance of the following EMIR requirements:
the clearing obligation for certain OTC derivatives (Art. 4 EMIR);
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Source: ESMA
LIMEYARD launches first diversified index composed of top 20 crypto assets
June 13, 2018--Robust methodology addressing U.S. Securities and Exchange Commission concerns
Decentriq providing data and crypto market expertise
LIMEYARD, a cutting-edge Index Provider, is excited to announce the launch of its Crypto Asset Index, together with Decentriq, a FinTech enabling financial institutions to benefit from distributed ledger technology based in the Swiss crypto valley.
The LIMEYARD Crypto Asset Index (LYCAI) has been designed to represent the cryptocurrency market while addressing regulatory and compliance related concerns. The Index has been licensed to be used as benchmark for the Blockchain Technologies Note (DE000A19VT92), listed on the Frankfurt Stock Exchange.
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Source: LIMEYARD AG
The AMF publishes a study of macro stress tests for the markets and the asset management industry
June 13, 2018--Methodology, governance, data, modelling of interactions between supervised institutions: the Autorité des marché s financiers proposes a review of macro stress tests carried out by authorities in the field of asset management and possible ways to improve their development for the future.
Since the 2008 financial crisis, the authorities' stress testing of supervised entities in the banking sector has been institutionalized. Such stress tests carried out at the level of a sector, a market or the entire financial system are of course of interest to market authorities. This is particularly the case in the field of asset management, whose ability to mitigate or amplify shocks throughout the financial sector is still being debated. It is for this reason that the AMF has chosen to study the exercises conducted to date in the field of asset management, with focus on the methodologies used.
view the AMF Macro-stress tests: What do they mean for the markets and for the asset management industry? report
Source: AMF (Autorité des marché s financiers)
New J.P. Morgan bond index ETFs launched on Xetra
June 12, 2018--ETFs offer access to short-term investment grade bonds and US Treasuries
Two new exchange traded funds from J.P. Morgan Asset Management are tradable on Xetra and Börse Frankfurt since Tuesday
The J.P. Morgan ETFS (Ireland) ICAV-EUR Ultra-Short Income UCITS ETF gives investors the opportunity to participate in the performance of short-term, euro-denominated investment grade debt instruments. The corresponding debt instruments may carry both fixed and floating interest rates. The ETF does not replicate a reference index but holds a portfolio of actively selected and managed investments.
The JPMorgan ETFS (Ireland) ICAV-BetaBuilders US Treasury Bond 1-3 Year UCITS ETF offers investors to participate in the performance of US dollar-denominated fixed income government bonds issued by the US Treasury department.
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Source: Deutsche Börse Cash Market
New ETFs listed on SIX Swiss Exchange
June 12, 2018--The following ETFs were listed on the SIX Swiss Exchange:
12.06.2018-UBS (Irl) ETF plc Gl. Gender Equality (hdged to GBP) A-Acc
12.06.2018-UBS (Irl) ETF plc MSCI ACWI ESG Uni. (hedged to GBP) A-Acc
11.06.2018-Xtrackers Nikkei 225 UCITS ETF
08.06.2018-HSBC FTSE EPRA NAREIT DEVELOPED UCITS ETF
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Source: SIX Swiss Exchange
OECD Deeper reforms in Germany will ensure more inclusive and sustainable growth
June 12, 2018--he German economy is undergoing a robust expansion, with record-low unemployment and real wage gains underpinning domestic demand while strong exports are driving business investment. The strong fiscal position will offer opportunities for funding structural reforms and public investment to meet future challenges, according to a new report from the OECD.
The latest OECD Economic Survey of Germany looks at the multiple factors behind years of steady growth and high levels of well-being, as well as the challenges remaining to ensure the benefits are shared by all. The Survey projects growth topping 2% for the 2018-19 period, and lays out an agenda for ensuring sustainable and more inclusive growth going forward.
view the OECD Economic Survey of Germany 2018
Source: OECD
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