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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
ESMA updates Q&A on CSDR implementation
March 31, 2017--The European Securities and Markets Authority (ESMA) has published today an update of its Questions and Answers (Q&As) regarding the implementation of the Central Securities Depository Regulation (CSDR).
The CSDR Q&As provide common answers to question regarding practical issues on the implementation of the new CSDR regime.
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Source: ESMA
MiFID II: ESMA issues final specifications for non-equity tape
March 31, 2017--The European Securities and Markets Authority (ESMA) has issued today regulatory technical standards (RTS) specifying the scope of the consolidated tape for bonds, structured finance products, emission allowances and derivatives.
The Markets in Financial Instruments Directive (MiFID II) introduces the concept of consolidated tape providers (CTPs). CTPs will collect post-trade information published by trading venues and approved publication arrangements (APAs) and will consolidate them into a continuous live data...
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Source: ESMA
ESMA provides implementing details for SFTR
March 31, 2017--The European Securities and Markets Authority (ESMA) has issued today a final report on standards implementing the Securities Financing Transaction Regulation (SFTR), which aims to increase the transparency of securities financing transactions (SFTs).
With these transactions cash or securities are borrowed against collateral composed of securities, commodities or cash -this includes repurchase transactions, securities lending, sell/buy-back transactions and margin lending.
ESMA publishes updated Q&A on CFDs and other speculative products
March 31, 2017--The European Securities and Markets Authority (ESMA) has published today an updated version of its question and answer document (Q&A) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to retail clients, such as binary options and rolling spot forex.
This Q&A includes a new section 10-pages 84-96-and provides clarifications on:
Passporting and the cross-border provision of services by investment firms offering CFDs and other speculative products to retail clients;
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Source: ESMA
ESMA publishes final rules to ensure integrity of EU financial benchmarks
March 30, 2017--The European Securities and Markets Authority (ESMA) has published its final report containing the draft regulatory and implementing technical standards (RTS/ITS) under the Benchmarks Regulation (BMR).
These contain the detailed rules to implement the new European regulatory framework aimed at ensuring the accuracy and integrity of benchmarks across the European Union.
The draft RTS/ITS set out the behaviours and standards expected of administrators and contributors, and will ensure that financial benchmarks are produced in a transparent and reliable manner.
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Source: ESMA
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