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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
State Street promotes iShares veteran in London
The fund management arm of State Street has made a second big appointment in a month to its exchange-traded funds business in London
November 7, 2016--State Street Global Advisors said in a statement on November 7 that Malcolm Smith has been appointed to the newly-created role of chief operating officer of SPDR, its ETF business.
Smith has been with been with the group for little more than a year, working in a senior distribution role.
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Source: Financial News
MOVES-State Street Global Advisors names Malcolm Smith global SPDR COO
November 7, 2016--State Street Global Advisors, the asset management arm of State Street Corp, appointed Malcolm Smith to the newly created role of global SPDR chief operating officer.
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Source: Reuters
IMF-Turkey: Concluding Statement of the 2017 Article IV Mission
November 4, 2016--The Turkish economy has withstood several shocks. However, increased political uncertainty, a sharp fall in tourism revenues, and a high level of corporate debt are all taking a toll.
The current monetary stance balances the need to contain inflation, which is still above target, against the backdrop of a slowing economy. Favorable external conditions have helped so far, but external financing needs remain large and limit fiscal space. Nevertheless, some fiscal loosening is appropriate to support the economy. Macroprudential measures should be strengthened to lower foreign exchange risk.
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