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ESMA issues implementing rules for package orders under MiFID II
February 28, 2017--The European Securities and Markets Authority (ESMA) has published today its final report on draft regulatory technical standards (RTS) regarding the treatment of package orders under the amended Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
view the ESMA Final Report
Draft RTS on package orders for which there is a liquid market
Source: ESMA
Monday Morning Memo: European investors favor international securities in January
February 27, 2017--After the negative flow numbers at the end of 2016, January 2017 showed a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into bond funds (+€17.6 bn), followed by equity funds (+€9.8 bn), mixed-asset funds (+€5.7 bn), and alternative UCITS products (+€4.0 bn) as well as real estate funds (+€1.0 bn) and commodity funds (+€0.1 bn).
"Other" funds (-€0.5 bn) was the only asset type that faced net outflows in the long-term mutual funds segment.
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Source: Detlef Glow, Head of EMEA Research-Thomson Reuters Lipper
London Stock Exchange RFQ Launch
February 27, 2017--The launch of
Request For Quote (RFQ)
Go-Live on Monday 13 March 2017
To support the varied trading needs of our customers, London Stock Exchange is introducing RFQ functionality for ETFs and ETPs traded on the SETS and ETF-Euroclear Bank Settlement trading services.
The new cleared RFQ functionality supports on Exchange execution of larger sized trades by institutional clients. The service is a private model and has been designed to protect order book liquidity by setting a minimum trade size.
visit www.lseg.com/rfq for further information
Source: lseg.com
European Semester Winter Package: review of Member States' progress towards economic and social priorities
February 23, 2017--The European Commission today publishes its annual analysis of the economic and social situation in the Member States, including an assessment of remaining imbalances.
It also publishes a report on the implementation of the Fiscal Compact, a report analysing the debt situation in Italy and a report, together with a proposal to the Council for a fine, on a case of misrepresentation of statistics in Austria.
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Source: European Commission
Investors increasingly turning to ETFs during market volatility, reports Tradeweb
February 22, 2017--Institutional investors are increasingly turning to ETFs to gain access to a broad range of asset classes and investment objectives, especially during periods of market uncertainty, according to over-the-counter (OTC) platform provider Tradeweb.
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Source: etfstrategy.co.uk
Compliance table for the Guidelines on market making activities under the Short Selling Regulation
February 21, 2017--Exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on short selling and certain aspects of Credit Default Swaps (ES-MA/2013/74)
Based on information supplied by them, the following competent authorities comply or intend to comply with ESMA's guidelines on exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on short selling and certain aspects of Credit Default Swaps (ESMA/2013/74)
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Source: ESMA
STOXX expands fixed income offering
February 21, 2017--STOXX Ltd., the operator of Deutsche Boerse Group's index business, and a
global provider of innovative and tradable index concepts, today introduced the EURO STOXX 50 Corporate
Bond Sector, Rating and Maturity Bucket Sub-Indices.
They expand the EURO STOXX 50 Corporate Bond Index, which was launched in April and is the fixed income equivalent of the EURO STOXX 50, including
the bonds of the blue-chip companies in the Eurozone. The new sub-indices represent certain maturity
buckets, industries and rating classes.
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Source: Deutsche Börse Group
Vanguard appoints new head of business development for Germany
February 21, 2017--Vanguard has appointed Sebastian Külps as head of business development for Germany.
In this newly created position, Sebastian will be responsible for building out Vanguard's presence in Germany and exporting its proposition as a high-value, low-cost provider of investments and services.
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Source: ftseglobalmarkets.com
Euronext launches Europe's first index dedicated to family businesses-Euronext(R)Family Business index
February 21,2017--Launch of Europe's first index dedicated to raising family business profiles with investors
Euronext today announced the launch of Euronext(R) Family Business, the first European index dedicated to family businesses, designed to highlight the performance of 90 family companies listed in the four countries covered by Euronext.
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Source: Euronext
We are unlikely to spot next financial crisis, Bank of England official says
February 21, 2017--MPC member Gertjan Vlieghe tells MPs that central bank's financial models 'are just not that good' for predicting even a recession.
The Bank of England is unlikely to predict the next financial crisis, according to one of the central bank's leading policymakers, who said economic models were unable to provide flawless forecasts for the UK economy.
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Source: theguardian.com