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U.K.'s Labour to Impose Stamp Duty on Bonds and Derivatives
May 13, 2017--Britain's Labour Party pledged to more than double what the government raises from taxes on financial transactions by extending stamp duty to cover derivatives and bonds, and removing an exemption for trading houses.
The "Robin Hood Tax" would raise an extra 4.7 billion pounds ($6.1 billion) a year, while eliminating "the most destabilizing forms" of high-frequency trading, the opposition party said in a statement. Last year, stamp duty on share transactions raised 3.3 billion pounds.
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Source: Bloomberg
Solactive launches USD Investment Grade Corporate Index
May 12, 2017--New benchmark targeting investment grade corporate bonds issued in USD.
Solactive is happy to announce the release of the Solactive USD Investment Grade Corporate Index mirroring the performance of USD-denominated investment grade corporate bonds.
This new addition extends the range of benchmarks offered by the German index engineer, providing investors with a price-competitive alternative to what is currently available in the market.
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Source: solactive.com
EBA publishes final Guidelines on credit institutions credit risk management practices and accounting for expected credit losses
May 12, 2017--The European Banking Authority (EBA) published today its final Guidelines on credit institutions' credit risk management practices and accounting for expected credit losses.
These Guidelines aim at ensuring sound credit risk management practices associated with the implementation and on-going application of the accounting for expected credit losses.
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Source: European Banking Authority (EBA)
Eight new BNP Paribas ETCs from metals and energy sectors launched on Xetra
May 12, 2017--Eight new exchange traded commodities (ETCs) issued by BNP Paribas Arbitrage Issuance B.V. have been tradable on Xetra since Thursday.
The new ETCs expand BNP Paribas' product range by giving investors access to the performance of futures contracts from the metals and energy sectors now also in the trading currency US dollars. The reference indices from the Rogers International Commodity Enhanced index family track the futures contracts with differing maturities in the following commodities: gasoline (petrol), precious and industrial metals, energy, natural gas, gas oil, heating oil and WTI oil.
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Source: Deutsche Börse Cash Market
Deutsche loses prized European ETF spot
May 12, 2017--Deutsche Asset Management's ETF business has dropped in the European rankings, with Lyxor claiming prized second place behind BlackRock.
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Source: fnlondon.com
European Commission-Spring 2017 Economic Forecast: steady growth ahead
May 11, 2017--The European economy has entered its fifth year of recovery, which is now reaching all EU Member States. This is expected to continue at a largely steady pace this year and next.
In its Spring Forecast released today, the European Commission expects euro area GDP growth of 1.7% in 2017 and 1.8% in 2018 (1.6% and 1.8% in the Winter Forecast). GDP growth in the EU as a whole is expected to remain constant at 1.9% in both years (1.8% in both years in the Winter Forecast).
view the European Commission Spring 2017 Economic Forecast: steady growth ahead
Source: European Commission
Central and Eastern Europe: A Broader Recovery, But Slower Catch-Up with Advanced Europe
May 11, 2017--Economic growth is broadening in Central, Eastern, and Southeastern Europe (CESEE). Further ahead, however, growth prospects will be tested by a dwindling workforce and weak productivity.
Reaching Western European income levels would thus take longer, says the IMF in its Regional Economic Issues update on the region.
view the IMF Regional Economic Issues Central, Eastern, and Southeastern Europe A Broadening Recovery
Source: IMF
Cobalt attracts top currency traders to blockchain service
May 10, 2017--Market makers Citadel Securities and XTX join UK start-up platform.
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Source: FT.com
Five new BNP Paribas ETCs from energy sector launched on Xetra
May 8, 2017--Five new exchange traded commodities (ETCs) issued by BNP Paribas Arbitrage Issuance B.V. have been tradable on Xetra and Börse Frankfurt since Monday.
The new ETCs give investors access to the performance of futures contracts on energy commodities gasoline (petrol), heating oil, WTI oil, natural gas and diesel. The futures are traded on the New York Mercantile Exchange (NYMEX) or the Intercontinental Exchange (ICE) in London, and are contracts based on the future physical delivery of the respective energy commodity.
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Source: Deutsche Börse Cash Market
Invesco thrust into Europe's ferocious ETF war
May 7, 2017--Acquisition of Source gives US manager foothold in rapidly growing passive market.
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Source: FT.com