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Goldman Sachs Investment Unit to Pay for Research Under MiFID II
October 2, 2017--Goldman Sachs Asset Management has joined the list of firms planning to absorb the cost of third-party research after the new European Union MiFID II regulations come into force in January.
GSAM, which oversees more than $1 trillion, intends to pay for the analysis used by its European investment management teams from January 2018, the unit said in a statement. The firm didn't disclose the cost of the decision.
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Source: Bloomberg
New market data feed provides access to all Irish Stock Exchange order book equity data
October 2, 2017-Deutsche Börse is offering the new market data feed CEF ultra+ Irish Stock Exchange Order by Order from October 2017.
The ultrafast high-performance data feed enables access to the entire visible Irish Stock Exchange order book and provides clients with comprehensive market data on all ISE-listed equity and ETF instruments traded. The launch extends the Irish Stock Exchange's market data product offering under its existing strategic partnership.
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Source: Deutsche Börse Group
Turnover at Deutsche Borse's cash markets at 117.7 billion euros in September
October 2, 2017--Order book turnover on Deutsche Börse cash markets totalled €117.7 billion in September (September 2016: €109.1 billion). Of the €117.7 billion, €107.3 billion were attributable to Xetra (September 2016: €100.8 billion) and €3.4 billion to Börse Frankfurt (September 2016: €3.3 billion).
Order book turnover on Deutsche Börse cash markets totalled €117.7 billion in September (September 2016: €109.1 billion). Of the €117.7 billion, €107.3 billion were attributable to Xetra (September 2016: €100.8 billion) and €3.4 billion to Börse Frankfurt (September 2016: €3.3 billion). Order book turnover on Tradegate Exchange totalled €7.0 billion (September 2016: €5.0 billion). The average daily turnover on Xetra stood at €5.1 billion (September 2016: 4.6 million). Viewed by transactions, a total of 17.3 million trades were executed on Xetra in September (September 2016: 20.0 million). Broken down by asset classes, cash market turnover in equities reached about €105.0 billion. Turnover in ETFs/ETCs/ETNs amounted to €11.2 billion. Turnover in bonds was €0.39 billion, in structured products €1.0 billion and in funds €0.13 billion.
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Source: Deutsche Börse Group
Key figures SIX Swiss Exchange: September 2017
October 2, 2017--Trading turnover in the year to date: CHF 1.021.7 trillion (+7.1% year-on-year)
Number of trades 38,319,606 (+7.7% year-on-year)
Average daily trading turnover of CHF 5.4 billion in the year to date
Change to regulations brings SMI(R) into line with UCITS directives
Trading activity on SIX Swiss Exchange continues to grow significantly. Turnover on the trading platforms in
the year to date is up 7.1% year-on-year to CHF 1.021.7 trillion. This increase has also been reflected in the
number of trades, which have risen by 7.7% versus the corresponding period last year to a total of
38,319,606. These figures have increased even though there were two additional trading days over the first
nine months of last year. This means that turnover averaged CHF 5.4 billion per trading day in the first nine
months of 2017. The year to date figures for the preceding months were also up on last year, so this trend
was maintained in September.
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Source: SIX Swiss Exchange
ESMA updates Q&A on MAR
September 29, 2017--The European Securities and Markets Authority (ESMA) has updated its Questions & Answers (Q&A) document regarding the implementation of the Market Abuse Regulation (MAR).
The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of MAR and its implementing measures. Today's Q&As include a new detailed answer on the obligations of the issuers in the particular case of delayed inside information that then loses its price sensitivity feature during the delay period.
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Source: ESMA
ESMA updates Q&As on the Benchmarks Regulation
September 29, 2017--The European Securities and Markets Authority (ESMA) has published updated Questions and Answers (Q&As) regarding the implementation of the Benchmarks Regulation (BMR).
The Q&A include four new answers regarding the following topics of the BMR:
Scope of the BMR: (i) Application of the BMR to EU and third country central banks; (ii) Exemption on single reference price.
Definitions of the BMR: (i) "family of benchmarks", (ii) "use of a benchmark"
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Source: ESMA
ESMA finalises MiFID II's derivatives trading obligation
September 29, 2017--The European Securities and Markets Authority (ESMA) has issued today its final draft Regulatory Technical Standard (RTS) implementing the trading obligation for derivatives under the Markets in Financial Instruments Regulation (MiFIR).
ESMA's draft RTS provides the implementing details for on-venue trading of interest rate swaps (IRS) and credit default swaps (CDS).
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Source: ESMA
ESMA publishes guidelines on suitability assessment for management body of market operators and data reporting service providers
September 28, 2017--The European Securities and Markets Authority (ESMA) has published its Guidelines for the management body of market operators and data reporting services providers.
The Guidelines clarify the criteria to be used to assess whether the management body of market operators and DRSPs, and each of its individual members, are suitable to ensure sound and prudent management of the firms as well as exercise effective responsibility for the activities undertaken by those firms.
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Source: ESMA
ESMA and NCAs agree work plan on MiFID II pre-trade transparency waivers and position limits
September 28, 2017--The European Securities and Markets Authority (ESMA), together with the national competent authorities (NCAs), have today published an updated work plan for the opinions on pre-trade transparency waivers and position limits that must be issued under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
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Source: ESMA
TOBAM continues rapid growth with new strategic senior hire
September 28, 2017--Frédéric Jamet joins TOBAM as Managing Director, Head of Trading and co-Head of Research
TOBAM has appointed Frédéric Jamet as Head of Trading and co-Head of Research. A renowned academic in the field of factor and smart beta investment, Mr. Jamet will add to TOBAM's existing leading edge expertise in these areas, and will oversee the firm's trading and research departments while playing a key role in sharing TOBAM's expertise with clients and third parties.
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Source: Tobam
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