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ESMA publishes key transparency calculations for MiFIDII/MiFIR implementation
December 6, 2017--The European Securities and Markets Authority (ESMA) published today the MiFID II/MiFIR transitional transparency calculations (TTC) for equity and bond instruments.
Today's publication means that TTC for all asset classes, applicable from 3 January 2018, are now available to market participants, infrastructures and authorities as required under the new regulatory framework.
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Source: ESMA
Commission sets out Roadmap for deepening Europe's Economic and Monetary Union
December 6, 2017--With a Roadmap for action and several concrete measures, the European Commission is delivering today on the commitment made by President Jean-Claude Juncker in his 2017 State of the Union address and the Five Presidents' Report of 2015 to deepen Europe's Economic and Monetary Union.
Building on the vision set out in the Five Presidents' Report of June 2015 and the Reflection Papers on the Deepening of the Economic and Monetary Union and the Future of EU Finances of spring 2017, the European Commission is setting out a Roadmap for deepening the Economic and Monetary Union, including concrete steps to be taken over the next 18 months. A number of initiatives are also presented as part of this package. The overall aim is to enhance the unity, efficiency and democratic accountability of Europe's Economic and Monetary Union by 2025.
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Source: European Commission
Deutsche Boerse chairman considering early departure-Handelsblatt
December 6, 2017-- Deutsche Boerse Chairman Joachim Faber is considering quitting as head of the exchange operator's supervisory board as early as in 2019, Handelsblatt reported, citing sources in the finance industry.
Faber, who has chaired the company's 12-member controlling panel since May 2012, used a meeting with investors in London to discuss the possibility of an early departure, the German business daily reported late on Wednesday.
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Source: Reuters
Two BNP Paribas equity index ETFs with focus on sustainability launched on Xetra
December 5, 2017--ETFs provide access to companies from the USA and emerging market countries
Two new exchange traded funds (ETFs) issued by BNP Paribas Easy have been tradable via Xetra and Börse Frankfurt since Tuesday.
The two new equity index ETFs enable investors to participate in the performance of stock corporations with a particularly high rating in the areas of environmental protection, social responsibility and governance (ESG). The BNP Paribas Easy MSCI Emerging Markets SRI UCITS ETF reference index contains large and medium-sized stock corporations from 24 emerging market countries. The reference index of the BNP Paribas Easy MSCI KLD 400 US SRI UCITS ETF comprises 400 US equities.
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Source: Deutsche Börse Cash Market
No changes to selection indices of Deutsche Boerse
December 5, 2017-New weightings to be effective as of 18 December 2017
On Tuesday, Deutsche Börse reviewed the composition of its selection indices. The constituents of the indices DAX, MDAX, SDAX and TecDAX remain unchanged.
The quarterly new weightings to the indices will become effective on 18 December 2017.
The next scheduled Deutsche Börse index review is 5 March 2018.
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Source: Deutsche Börse Cash Market
Deutsche asset management to rebrand as DWS, plans KGaA structure
December 5, 2017--Deutsche Bank (DBKGn.DE) plans to rebrand its asset management arm as DWS, the name of its main retail brand, and put a structure in place that gives the group full control even after the unit's planned stock market listing.
Germany's largest lender earlier this year said it would list a minority stake in Deutsche Asset Managemen, which sources say could achieve a total valuation of around 8 billion euros ($9.5 billion), as part of a broader overhaul following costly lawsuits and trading scandals.
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Source: Reuters
First Trust unveils sterling-and euro-hedged share classes for FactorFX ETF TER of 0.75%
December 5, 2017--First Trust Global Portfolios (FTGP) has launched sterling and euro-hedged share classes of the First Trust FactorFX UCITS ETF on the London Stock Exchange.
The hedged share classes will enable euro and sterling-denominated investors to access the strategy while controlling exchange rate volatility against the fund's USD base currency.
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Source: investmentweek.co.uk
ESMA latest Risk Dashboard sees no change in overall risk levels
December 5, 2017--The European Securities and Markets Authority (ESMA) has issued today the Risk Dashboard No.4 2017, covering risks in the EU's securities markets for Q3 2017. ESMA's overall risk assessment remains unchanged from Q2 at high levels.
In Q3 2017, EU financial markets remained relatively calm, although reactive to global geopolitical events. This was reflected in increased market expectations of the near-term volatility following global political tensions. While market and credit risks remain very high, ESMA's outlook for credit risk has declined reflecting improvements in risk indicators.
view the ESMA Risk Dashboard No. 4, 2017
Source: ESMA
National Statistics: UK official holdings of international reserves: November 2017
December 5, 2017--This monthly release shows details of movements in the UK's official holdings of international reserves, or assets.
These consist of gold, foreign currency assets and International Monetary Fund assets.
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Source: HM Treasury
Thomson Reuters-Monday Morning Memo: Which Factors Drive Fund Flows in Europe?
December 4, 2017--Within the European fund industry calculation of fund flows is quite common, since market observers, fund associations, and even fund promoters publish and comment on these numbers to showcase the success of the fund industry and/or single products and to comment on current trends in Europe.
But for fund promoters it is often a riddle as to why investors are buying a specific fund, given its performance. That said, a few companies-mainly consultants-look behind the scenes at the fund level to try to determine the main drivers of fund flows to help their clients gain inflows to their funds. With this blog I also try to shed light on possible drivers behind fund flows.
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Source: Detlef Glow, Head of EMEA Research-Thomson Reuters Lipper
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