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ESMA clarifies market structure issues under MiFID II
April 5, 2017--The European Securities and Markets Authority (ESMA) has issued today detailed guidance regarding the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
ESMA published 22 new Question and Answers (Q&As) which provide further detail on how to implement certain regulatory provisions on market structure topics.
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Source: ESMA
Boerse Stuttgart generates turnover of around EUR 7.8 billion in March
April 4, 2017--Turnover up in all asset classes//Growth strongest in exchange-traded products and debt instruments
According to its order book statistics, Boerse Stuttgart recorded turnover of around 7.8 billion in March 2017.
The trading volume was up more than 10 percent on the previous month and almost 13 percent on March 2016. The turnover for the first quarter of 2017 was more than 10 percent higher than the figure achieved in the same period of 2016.
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Source: Boerse Stuttgart
ESMA updates MiFID II/MiFIR investor protection Q&As
April 4, 2017--The European Securities and Markets Authority (ESMA) has added 10 new Q&As to its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
The MiFID II Q&A provide clarifications on the following topics:
Best execution;
Suitability;
Post sale reporting;
Inducements (research);...
view the Q&A on MiFID II and MiFIR Investor Protection Topics
Source: ESMA
Fidelity International launches two ETF income products
March 3, 2017--Fidelity International is the latest global asset management house to join the rush to embrace the growing appetite for exchange traded funds, with the launch of two income-focused smart beta ETFs.
The company said that its first two ETFs will combine Fidelity's active investment expertise with the systematic aspects of passive investing.
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Source: internationalinvestment.net
ESMA updates Q&A on MiFIR data reporting
April 3, 2017--The European Securities and Markets Authority (ESMA) has published today the updated Questions and Answers (Q&As) document regarding data reporting under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
The purpose of this document is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR in relation to regulatory data reporting topics.
view the Q&A on MiFIR data reporting
Source: ESMA
Cash market turnover sees significant rise in March; Xetra auctions key driving force
April 3, 2017--Turnover on Deutsche Börse's cash markets totalled €135.7 billion in March, a significant increase on the €120.9 billion seen in the same month of 2016.
This increase was largely driven by the daily auctions in Xetra trading, which are held at opening, midday and end of trading. Order book turnover in auctions provided 52 percent of the total daily cash market volume on March 17, for example, thanks to the fact that this was a key expiry date for many equity futures contracts. The March 17 closing auction on its own provided 43 per cent of the total turnover that day.
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Source: Deutsche Börse Group
Deutsche Borse welcomes Fidelity International as new ETF issuer on Xetra
April 3, 2017--Smart beta ETFs issued by Fidelity International are tradable on Xetra and Börse Frankfurt as of today, constituting Fidelity's first ETF offering in Europe. The new ETFs enable investors to invest in global and US quality companies with high dividend yields, as well as stable profits and cash flow.
The ETFs are aimed at generating a higher return than the market as a whole, while at the same time achieving a better risk diversification. Each of the ETFs references one of Fidelity's own indices, which in turn are based on in-house expertise in stock analysis and portfolio construction. The Fidelity Global Quality Income UCITS ETF tracks the performance of the Fidelity Global Quality Income Index and offers investors access to the performance of global quality companies. The Fidelity US Quality Income UCITS ETF offers exposure to the US quality companies in the Fidelity US Quality Income Index.
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Source: Deutsche Börse Group
FCA urges firms to act on Mifid II or risk losing access to UK market
March 31, 2017--Regulator tells firms to apply now for required authorisations ahead of new trading rules coming into force next year
The City's watchdog has urged financial services firms to prepare for new European trading rules or risk being unable to do business in the UK.
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Source: fnlondon.com
European Commission prohibits recommended all-share merger between Deutsche B0rse AG and London Stock Exchange Group plc
March 31, 2017--Unwinding of the exchange offer by re-booking the tendered DBAG shares expected on 3 April 2017 after close of trading
Today, the decision of the European Commission to prohibit the recommended all-share merger between Deutsche Börse AG ("DBAG") and London Stock Exchange Group plc ("LSEG") has officially been served to DBAG. Hence, it has become impossible to fulfil the closing condition set forth in section 14.1 B.7 (EC Merger Control) of the offer document for the exchange offer made by HLDCO123 PLC to the shareholders of DBAG on 1 June 2016. Accordingly, the exchange offer has automatically lapsed and the co-operation agreement entered into between amongst others DBAG and LSEG on 16 March 2016 has automatically terminated.
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Source: Deutsche Börse Group
Unscheduled adjustment in DAX
March 31, 2017--Share class of Deutsche Börse AG to be replaced.
On Friday, Deutsche Börse announced unscheduled changes to the DAX index. Deutsche Börse AG's tendered share class (ISIN DE000A2AA253) will be replaced with the prior share class of Deutsche Börse AG (ISIN DE0005810055).
The changes are a result of today's announcement on the reversal of the transaction between Deutsche Börse and London Stock Exchange plc due to the prohibition of the merger by the EU Commission. The change of the share class will become effective as of 4 April 2017.
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Source: Deutsche Börse Group
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