ESMA issues Q&As on the implementation of the double volume cap under MiFID II
October 3, 2016--The European Securities and Markets Authority (ESMA) has issued today a Question and Answers (Q&A) document regarding the implementation of the double volume cap under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
MiFID II introduces a so-called "double" volume cap mechanism which limits the use of reference price waivers and negotiated price waivers under the new transparency regime of MIFID II.
view the Questions and Answers On MiFID II and MiFIR transparency topics
Source: ESMA
ESMA consults on consolidated tape for non-equity products
October 3, 2016--The European Securities and Markets Authority (ESMA) has issued today a consultation paper on its draft regulatory technical standards (RTS) regarding the creation of a consolidated tape for non-equity instruments which is required under the Markets in Financial Instruments Directive (MiFID II).
The new MiFID II framework, which covers equity-like and non-equity instruments traded on trading venues, introduces provisions for establishing a central source of post-trade prices or consolidated tape.
view the consultation paper
Source: ESMA
Complex ETFs taking ground from active managers
October 3, 2016--Investors are increasingly viewing low-cost smart beta ETFs as an alternative to more costly actively managed funds, according to a survey by Brown Brothers Harriman.
Almost half-49%-of the 180 European investors surveyed thought these vehicles could replace actively managed funds, with just 21% disagreeing. The rest gave no opinion.
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Source: Financial News
Concerns Rise Over Asset Safety
October 3, 2016--SIX Securities Services, which operates Switzerland's financial market infrastructure, published research last week which found that two-thirds of financial institutions are concerned that agent banks have both custody and investment business lines.
"An inability to separate these two business activities introduce a potentially high level of risk with regard to asset safety," added SIX.
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Source: marketsmedia.com
Chart: The Aftermath of the Brexit Vote
September 30, 2016--It's been 3 months, and no signs of doom or gloom.
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
For the first half of the year, we were warned early and often by authorities that the Brexit vote could be a calamity for the ages.
view
Source: visualcapitalist.com
EU opens probe into LSE-Deutsche Boerse merger
September 29, 2016--The European Commission is to investigate whether the proposed merger between the London Stock Exchange and Deutsche Boerse would reduce competition in several financial market infrastructure areas.
By combining the exchanges of Germany, the United Kingdom and Italy, as well as several of the largest European clearing houses, the LSE and DB merger would create by far the largest European exchange operator.
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Source: eubusiness.com
ESMA consults on future rules for financial benchmarks
September 29, 2016--The European Securities and Markets Authority (ESMA) has today published a consultation paper regarding its draft regulatory and implementing technical standards (RTS/ITS) which will implement the Benchmarks Regulation (BR).
ESMA is asking stakeholders to comment on its proposed RTS/ITS applicable to benchmark contributors, administrators and national competent authorities.
view the Draft technical standards under the Benchmarks Regulation
Source: ESMA
iShares Core FTSE 100 UCITS ETF launched on Xetra
September 29, 2016--ETF provides access to the 100 largest UK companies
A new iShares equity index ETF from BlackRock's product offering has been tradable on Xetra and Börse Frankfurt since Thursday.
Name: iShares Core FTSE 100 UCITS ETF (Dist)
Asset class: equity index ETF
ISIN: IE0005042456
Total expense ratio: 0.07 percent
Distribution policy: distributing
Benchmark: FTSE 100 Index
The iShares Core FTSE 100 UCITS ETF (Dist) gives investors access to the performance of the 100 largest UK companies listed on the London Stock Exchange.
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Source: Deutsche Börse Cash Market
Outflows from European equity funds approach $100bn
September 29, 2016--Continent suffers 34th consecutive week of redemptions as anxiety over banking system grows
Redemptions from European equity funds have approached $100bn as investors race out of an asset class rattled by the uncertain health of the continent's financial sector.
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Source: FT.com
A growing interest from investors in Smart Beta ETFs with more requirements and challenges to address
September 29, 2016--In a survey of investment professionals conducted as part of the Amundi ETF, Indexing & Smart Beta research chair at EDHEC-Risk Institute on "ETF and Passive Investment Strategies", EDHEC-Risk Institute has solicited the specific views of 180 European ETF investors on "smart beta" exchange-traded funds (ETFs).
This questionnaire has given rise to a study entitled "Investor Perceptions about Smart Beta ETFs".
view the EDHEC-Risk Publication Investor Perceptions about Smart Beta ETFs
Source: EDHEC-Risk Institute
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