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ESMA- ESMA asks Commission to delay central clearing for small financial counterparties
November 10, 2016--The European Securities and Markets Authority (ESMA) has published today its final report regarding the amended application of the clearing obligation that financial counterparties with a limited volume of activity in OTC derivatives need to comply with under the European Market Infrastructure Regulation (EMIR).
Due to a range of reasons covered in the report, in particular relevant EU legislations being under review or finalisation, ESMA proposes to postpone the phase-in period for central clearing of OTC derivatives applicable to financial counterparties with a limited volume of derivatives activity...
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Source: ESMA
ESMA finalises advice on future rules for financial benchmarks
November 10, 2016--The European Securities and Markets Authority (ESMA) has finalised its technical advice to the European Commission on important aspects of future rules for benchmarks.
In particular, ESMA provides advice on:
how benchmarks' reference values can be calculated by using data reporting structures under existing EU rules such as MiFID II and EMIR;
some of the criteria for deciding when third country benchmarks can be endorsed for use in the...
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Source: ESMA
ESMA prepares for new International Financial Reporting Standard 9
November 10, 2016--The European Securities and Markets Authority (ESMA) has today published a Public Statement on Issues for consideration in implementing IFRS 9: Financial Instruments (the Statement) which highlights both the need for consistent, high-quality implementation of IFRS 9 and the need for transparency on its impact to users of financial statements.
IFRS 9 replaces major parts of International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement and contains a new impairment model based on expected credit losses (ECL).
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Source: ESMA
ESMA consults on transparency rules for package orders under MiFID II
November 10, 2016--The European Securities and Markets Authority (ESMA) has opened today a public consultation 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).
Overall, MiFID II aims at increasing market integrity, transparency and efficiency.
Package transactions are interlinked financial transactions comprising various instruments which firms execute jointly in order to reduce transaction costs and for risk management purposes.
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Source: ESMA
ETF investors take out gold insurance
November 10, 2016--ETF provider Source saw inflows of more than USD500 million into its Source Physical Gold ETC between 1 October and 8 November this year.
European Commission-Autumn 2016 Economic Forecast: Modest growth in challenging times
Commission forecasts 2017 euro area growth of 1.5% and EU growth of 1.6%
November 9, 2016--Economic growth in Europe is expected to continue at a moderate pace, as recent labour market gains and rising private consumption are being counterbalanced by a number of hindrances to growth and the weakening of supportive factors
In its autumn forecast released today, the European Commission expects GDP growth in the euro area at 1.7% in 2016, 1.5% in 2017 and 1.7% in 2018 (Spring forecast: 2016: 1.6%, 2017: 1.8%). GDP growth in the EU as a whole should follow a similar pattern and is forecast at 1.8% this year, 1.6% in 2017 and 1.8% in 2018 (Spring forecast: 2016:1.8%, 2017: 1.9%).
view the European Commission-Autumn 2016 Economic Forecast
view the infographic
Source: European Commission
Two new ComStage ETFs on SDAX and TecDAX launched on Xetra
ETFs primarily track German small caps and technology stocks
November 9, 2016--Two new ETFs issued by Commerz Funds Solutions S.A., a Commerzbank Group management company, have been tradable on Xetra and Börse Frankfurt since Monday.
ETF name: ComStage 1 SDAX UCITS ETF
Asset class: equity index ETF
ISIN: DE000ETF9058
Total expense ratio: 0.7 percent
Distribution policy: distributing
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Source: Deutsche Börse Cash Market
Russian Economy Inches Forward, says World Bank
November 9, 2016--Russia continued its adjustment to lower oil prices in 2016, in an environment of economic sanctions. A sustained fall in real incomes kept domestic demand depressed, and the unfavorable external conditions repeatedly affected Russia's economic growth.
Thus, the recession has continued, albeit at a slower pace. In 2016, the economy is projected to contract by 0.6 percent, and grow by 1.5 percent in 2017 and 1.7 percent in 2018, as hydrocarbon prices are forecast to continue recovering and positively affect domestic demand, the World Bank said in its latest Russia Economic Report, no. 36 in the series, launched in Moscow today.
view the Russia Economic Report 36: The Russian Economy Inches Forward
Source: World Bank
New UBS equity index ETF on S&P 500 with currency hedge launched on Xetra
New UBS equity index ETF on S&P 500 with currency hedge launched on Xetra
ETF provides access to 500 largest US companies
November 8, 2016--A new UBS Global Asset Management equity index ETF on S&P 500 has been tradable via Xetra and Börse Frankfurt since Tuesday.
ETF name: UBS (Irl) ETF plc-S&P 500 UCITS ETF (hedged to EUR) A-acc
Asset class: equity index ETF
ISIN: IE00BD34DK07
Ongoing charges: 0.22 percent
Distribution policy: accumulating
Benchmark: S&P 500 EUR Hedged Index
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Source: Deutsche Börse Cash Market
WisdomTree Launches GBP Hedged Share Class Of Its US Equity Income UCITS ETF
November 8, 2016--WisdomTree, the exchange-traded fund ("ETF") and exchange-traded product ("ETP")sponsor today announced the listing of a GBP hedged accumulating share class for the WisdomTree US Equity Income UCITS ETF on the London Stock Exchange.
This new share class combines the benefits of WisdomTree's unique dividend weighting methodology applied to high yielding US equities and the management of currency risk through a monthly currency hedge.
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Source: WisdomTree
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